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Lexington Law Credit Repair Whistleblower

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In almost every initial phone consultation with potential clients, the name Lexington Law comes up.  Many people have tried their credit repair without success.  I’ve done extensive research on this company and their business practices over the years and this posting from a former Lexington Law employee only validates my position.

Read for yourself:

Apr 26, 2016

Helpful (4)

“Don’t do it…”

Former Employee – Paralegal in Phoenix, AZ
Doesn’t Recommend
Negative Outlook
No opinion of CEO

I worked at Lexington Law full-time (Less than a year)

Pros

Massage chairs,and knowledge of credit repair that you can find on credit karma for FREE

Cons

I honestly do not know where to start. I worked at this company for a total of 6 months, as case setup(little over 4 months) everything was fine then, a little redundant but bearable. I’ve noticed the other department who now is “client loyalty” were miserable… back to back calls, frustration, emotions rising employees quitting. At that point I never knew why until they slowly started to push us in that direction with a 25 cent raise which in my opinion along with many others is in no way shape or form acceptable, and here’s why:
-The intial process is for clients to go through progrexion who is essentially the company who markets for lexington, now these people state to the clients that with our service they’re guaranteed personal loans,homes,better rate credit cards,and improved credit scores just for a sales pitch. (In other words lies)
-they say that an attorney will review your case but there’s only about 20 for 500,000 clients (ask yourself how that works)
-for first fee “for the work completed” the person is paying $14 just to pull a credit report from transunion which in some cases doesn’t work or the client has a clean record there’s that down the drain
-the next fee of $99.95 which they can push out up to 15 days is the processing fee or according to lexington the fee “for work already completed” which is letters we send out to credit unions and creditors IF there aren’t any complications
-now that fee is reoccurring on a monthly bases and remember no results are grarunteed so clients could possibly be paying for months with no rrluts at all and in some cases not even send out letters at all unless the client is constantly calling in for a case review
-next step in the service is to send out escalation letters if the actual first letters don’t work for any reason but that’s only used if a client sees no progress (or wants to cancel,then it’s used as a bribe) but of course even that’s not a guarantee
-mind you a lot of clients already don’t have the available funds to purchase necessities or keep up with bills so now I bring to you a Stat you’re suppose to follow as the “paralegal” (what a joke) “CANCEL/SAVES” this is when a clue t would like to cancel for any reason and of course you want to “save” them from doing so by taking money from their pocket
-this is when we really WORK we offer more letters to send out, discounts,then tell them about or full feature of the website, credit repair,how to apply for cards,what else they can possibly do to increase their score…the whole 9 yards if you will although that should’ve been offered from the get go.
-if they still decline eve for the reason that themhisellhehehat here’s sincerely have no money we charge them the final invoice for once again “work already completed” whether we did or not and if you weren’t able to pay a few months expect a late fee and invoice for previous months, so they go from just wanting to cacel to having to pay up to or more than $300

Now is this fair? absolutely not but if you’re just looking for a paycheck and steal money for the bug man then by all means go for it….but I along with others left for the sake of morals and ethics …..I’m missing a few important points here but this is definitely something to think about.

https://www.glassdoor.com/Reviews/Employee-Review-Lexington-Law-RVW10393796.htm

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What’s a good website to pull my credit report and score?

myFICO_Icon_NEW_100x100   creditkarma-logo-portfolio privacyguard

There are dozens of websites on the internet that you can pull your credit report and score, but which is the best and the worst?

Credit Karma (free)  – remember that old saying “good isn’t free, and free isn’t good” ?  I find this the case with Credit Karma.  This website is an advertising site for credit cards, mortgage loans, credit repair, auto loans, etc..  Credit Karma gets paid by it’s advertisers when you click on ads.  You may not think it’s a big deal, but this website will mislead you to encourage you to view the site.  They will send you false email alerts that your credit report information has changed.

Example- I received an email alert that my credit card limit was reduced from Credit Karma.  So I log into Credit Karma to see which account they’re claiming the issue (putting me in font of their advertisers).  I call my credit card bank and ask if they’d reduced my limit, and they hadn’t.  This is just one example, I have clients that say they’ve receive email alerts about missed car payments reporting which were also false.

Also, their credit scores are “Vantage Scores”.  They can be higher than a “FICO Score” which most banks use to qualify you for credit.  Be careful.

Privacy Guard (pay site) – Privacy Guard has to be one of my favorite websites for credit reports and scores.  Their credit scores are “CreditXpert Scores” which are fairly similar to a “FICO Score”.  This site will allow you to update your scores and credit reports every 30 days.  They also have a handy “what if” credit score simulator that projects where your scores will go based upon certain actions (paying off credit cards, making payments on time, etc..).   Their credit reports are easy to read and understand.  Many websites put too much information on your report that makes it difficult to understand the report.  Privacy Guard’s reports are nice and neat.

MyFICO (pay site) –  MyFICO is the only website on the internet that you can obtain a “FICO score” that will be the same score that your mortgage lender, auto finance, or credit card bank will use to appove/deny you for credit.  This site and many versions of credit scores that are used in various industries.  Not all credit scores are created the same.  A mortgage FICO score will take into consideration your total credit profile where as an auto FICO score will weigh more on installment loan history.

The main drawback about this site is that it’s expensive.  Since MyFICO has the exclusive types of FICO scores, they charge a higher fee to see them.  Their current price for all 3 scores and reports are $59.85.  Most credit monitoring sites cost around $20-$30 per month.

 

For more information about your credit report and scores, contact me direct.

Jason Hall

President and Certified Credit Expert

Direct- 949.505.9971

Mobile- 808.633.5023

Fax- 866.567.8054

WWW.RAPIDRESCORECREDIT.COM

 

 

One of the biggest mistakes people make when hiring a credit repair company.

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Credit repair is an industry that typically gets a bad rap.  The reason for this is because most credit repair companies string you along for months (or years) charging a monthly fee.  They dupe most people by making up excuses or misguiding them into thinking that what they’re doing is helping them.  But I’m going to share with you what absolutely will help you move a credit score higher.

  1. Settling your collection accounts.  Collection companies “re-age” or “re-report” the collection every month in most cases, keeping it new on your report.  When a collection account is paid, this “re-aging” stops.  Over time the collections impacts your scores less as it’s no longer “re-reporting”.  After 7 years from not paying the original creditor (120 days late) the collection is removed from your report naturally.
  2. Disputing to delete your paid collections is a highly successful way of getting them off of the report.  Collection companies typically will answer a dispute of the account if it’s not been paid.  This is the motivator that collection companies use to get you to pay, the reporting of the debt.  Once paid, a lot of the time they don’t care to put up a fight to keep it on your report, because they received money on the account.
  3. Paying down your credit card balances.  Your revolving credit accounts (credit cards, charge cards) are 30% of your FICO score.  Your credit scores can move significantly based upon the balances reporting to the credit bureaus.  If you have a credit card maxed out or over the limit, and then you pay it down below 30% of the credit limit you will see a significant credit score increase.  I’ve seen a credit score move up over 100 points by paying down credit card balances.
  4. Open new credit.  If you don’t have any open credit that you’re using (credit cards, auto loan, signature loan) you have no accounts to show banks your credit responsibility.  A credit score is built upon making payments on time and maintaining low balances on revolving accounts.  It’s prescribed to have at least 2 to 3 revolving accounts and 1 installment loan.  If you’ve been turned down for credit cards, go to Open Sky Secured Visa and First Progress to apply.  They don’t pull credit to approve you, their approval is based upon having a checking account.  For a new installment loan, research your local bank or credit union for a “credit builder loan”.  These are small loans that will report installment payments.

If you follow these 4 actions in credit repair you will have a better credit score.  If you’re not following these steps, you’re wasting your time with credit repair.  Credit repair companies mislead people by telling them not to settle collections.  This entices people as they feel they can have it removed without having to pay the collection.  In the slim chance you may have of a deletion without payment, the account will most likely re-report the next month.

They also state the disputing multiple credit issues may cause a “red flag” of the dispute and the bureaus won’t process the investigation.  This is absolutely false.  You have the right to dispute any and all of your credit issues you feel need to be verified or removed.

For more credit advice about your current credit report, feel free to contact me direct.  I’d be happy to give you honest feedback on how to deal with your credit issues.

Jason Hall

President and Certified Credit Expert

Direct- 949.505.9971

Mobile- 808.633.5023

Fax- 866.567.8054

WWW.RAPIDRESCORECREDIT.COM