Lexington Law Review 2022
In recent years, credit repair companies have gained considerable popularity. Many Americans are struggling with poor credit, but aren’t sure how to repair their negative credit history.
As a result, they might look to a credit repair service like Lexington Law. This experienced firm is one of the biggest names in the industry, which means you've probably heard of it.
In your search for the best credit repair program, this review hopes to shed some light on one of the most reputable firms out there. We’ll also provide valuable background information on Lexington Law, how customers perceive the company, and an overview of how their credit repair process works.
Lexington Law Review: Brief History and Overview
The Lexington Law Firm began serving customers in 2004. Based in North Salt Lake, Utah, Lexington Law has another office in Tucson, Arizona, now serving customers in 48 states (not including Oregon and North Carolina) and the District of Columbia.
In addition to credit repair services, Lexington Law also provides personal finance tools and identity protection.
How Does Lexington Law Work?
Lexington Law’s lawyers will work with credit bureaus on your behalf to challenge negative items on your credit report, which might include:
- Collections
- Late payments
- Bankruptcies
- Repossessions
- Charge-offs
- Foreclosures
- Judgments
Due to the Fair Credit Reporting Act, credit bureaus must include only accurate and verifiable information on consumer credit reports. If any items on your credit report fail to meet these criteria, the bureaus must remove them.
Once the bureaus remove any inaccurate or misleading entries on your report, you should see your credit score improve.
Pros and Cons of Lexington Law
Pros
- Easy-to-use smartphone app: A customer-friendly, well-made app that gets outstanding ratings from customers.
- Free consultation: Offers a free consultation to new clients, which is valuable to users who want to better understand their financial and credit history.
- Transparent fees with no upfront charges: Lexington Law doesn’t charge customers an upfront fee, unlike most companies in this field.
- Personalized services: Lexington Law assigns a paralegal to each case, allowing you to work with the same person throughout the entire credit repair process.
- Credit monitoring available: Lexington Law offers two plans that offer credit monitoring services.
Cons
- Relatively expensive: The cheapest plan is $89.95, which can be costly for some consumers.
- No money-back guarantee: Many credit repair companies offer clients a refund if results aren’t up to par (i.e. no removal of negative items). However, Lexington Law doesn’t.
- Not BBB accredited: Lexington Law has a relatively low Better Business Bureau (BBB) of C.
- Unavailable in two states: Lexington Law doesn’t offer credit repair services in Oregon and North Carolina.
- Alleged legal violations: In 2019, The Consumer Financial Protection Bureau (CFPB) accused Lexington Law of violating federal laws.
Lexington Law Services
Lexington Law offers three packages at different price points and service offerings:
| Services | Features |
| This includes credit repair and credit interventions. Their credit dispute process involves identifying errors on your credit report and requesting the credit bureaus to remove those items. Under the Concord Standard Plan, Lexington Law will also send out credit intervention letters on your behalf to lenders and collection agencies. These include goodwill letters and debt validation letters. The monthly fee for Concord Standard is $89.95. |
|
| Concord Premier | The Concord Premier plan is useful for customers who need additional help with credit repair. This plan includes monthly analyses and ongoing credit monitoring. Aside from the basic credit repair services, Concord Premier will also include:
The monthly fee for this plan is $109.95. |
| Premier Plus | In addition to basic credit repair services, monitoring, hard inquiry removal, and alerts, Premier Plus provides financial planning services. These include:
The monthly fee for this plan is $109.95. Premier Plus will cost you $129.95 a month. |
What Lexington Law Customers Are Saying
With many years of experience helping consumers repair their credit, there are plenty of testimonials and reviews that speak to Lexington Law’s capabilities.
For example, the firm has 2,200+ reviews on BestCompany.com, with a user score of 4.1 out of 5, and a site score of 8.7.
Additionally, Lexington Law has hundreds of reviews on CustomerAffairs.com, with nearly 80% of them being 5-star ratings.
Like any other company, Lexington Law has its flaws. For example, a few customers have been unhappy with the speed of the credit repair process. However, the company warns that the timeline will be different for each customer, as every credit situation is different and has its own unique challenges. When it comes to credit repair, patience is key.
Other customers complain about how difficult it is to get staff on the phone. Some have experienced waits of 30 minutes or longer. However, most of these reviews fail to mention the effectiveness of Lexington Law’s other contact methods, such as their highly-rated smartphone app, email, and social media platforms like Facebook (now Meta).
Lexington Law Alternatives
Because Lexington Law’s services can be expensive for some consumers, with no money-back guarantee, you might consider alternatives.
For example, The Credit Pros has lower monthly costs ($69/month). The company also offers a 90-day money-back guarantee. However, to work with Credit Pros, you’ll need to pay an upfront cost of $119.
Sky Blue Credit repair is even more budget-friendly, with low setup and monthly fees (both $79), with no extra service charges.
The Bottom Line on Lexington Law
Lexington Law is one of the most popular credit repair services to date. With a top-rated smartphone app, personalized service, and thousands of online reviews, this firm may be an easy choice. However, it’s difficult to recommend a credit repair company with high monthly fees, and concerning legal issues, especially when there are capable alternatives to choose from.
When trying to find the best credit repair program, do extensive research and compare. You’re making a large investment in your credit future, which means your results should reflect the amount of money you put in. Lexington Law requires a large investment, so it’s important to thoroughly consider your options before signing up.
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