Credit Repair Law Firms Are Scams
I may get sued for writing this, but its my opinion that credit repair law firms like Lexington Law are scams. Heres why:
Problem #1: Ridiculous Monthly Charges
Lexington currently charges a $99 setup fee and anywhere from $39 to $79 every month that they work on your file. Since they charge monthly, the longer they take to repair your credit, the more money they make. In fact, some credit law firms tell you that it could take a year, two years, or even three years ($567 to $2,000), which is why theyre getting very rich.
Why pay $2,000 or even $500, when there are excellent credit repair programs available for less than $100?
Problem #2: You Do Most of the Work
Here's a dirty little secret that credit law firms dont want you to know: you still have to do most of the work yourself--more work, in fact, than when you use credit repair software (more about that later).
In addition to all the paperwork you have to fill out and get notarized, you must request your own credit reports. Since the credit bureaus mail all documents to you, you will be constantly copying them, putting them into another envelope, and sending them to the law firm. You might have to do this five or six times every week.
The credit repair law firm will then scan your credit reports and post them on the web (security issues?) Then, believe it or not, even with all the money youre paying to the law firm, you still have to go to their website and choose for yourself which items you want to dispute and even how to challenge each negative credit item.
All the law firm does is print out form letters that they send to the credit bureaus. Doesnt it make you a little uncomfortable knowing that the longer they take, the more money they make?
Problem #3: Crappy Guarantee
All they have to do is remove one credit card inquiry and they consider that theyve done their job, so theres no money back even if 99% of your credit report is still negative after three years and $2,000.
As you can see, these law firms are often nothing more than letter-printing factories that make more money the longer they take. So why pay so much money to get such little service? Especially since its possible to accomplish the same goal with much less work at a fraction of the cost.
There is a better alternative to using credit repair law firms like Lexington Law. The best credit repair solution weve discovered so far is Credit Repair Magic. It's the fastest and most cost-effective credit repair solution we've ever found.
Problem #1: Ridiculous Monthly Charges
Lexington currently charges a $99 setup fee and anywhere from $39 to $79 every month that they work on your file. Since they charge monthly, the longer they take to repair your credit, the more money they make. In fact, some credit law firms tell you that it could take a year, two years, or even three years ($567 to $2,000), which is why theyre getting very rich.
Why pay $2,000 or even $500, when there are excellent credit repair programs available for less than $100?
Problem #2: You Do Most of the Work
Here's a dirty little secret that credit law firms dont want you to know: you still have to do most of the work yourself--more work, in fact, than when you use credit repair software (more about that later).
In addition to all the paperwork you have to fill out and get notarized, you must request your own credit reports. Since the credit bureaus mail all documents to you, you will be constantly copying them, putting them into another envelope, and sending them to the law firm. You might have to do this five or six times every week.
The credit repair law firm will then scan your credit reports and post them on the web (security issues?) Then, believe it or not, even with all the money youre paying to the law firm, you still have to go to their website and choose for yourself which items you want to dispute and even how to challenge each negative credit item.
All the law firm does is print out form letters that they send to the credit bureaus. Doesnt it make you a little uncomfortable knowing that the longer they take, the more money they make?
Problem #3: Crappy Guarantee
All they have to do is remove one credit card inquiry and they consider that theyve done their job, so theres no money back even if 99% of your credit report is still negative after three years and $2,000.
As you can see, these law firms are often nothing more than letter-printing factories that make more money the longer they take. So why pay so much money to get such little service? Especially since its possible to accomplish the same goal with much less work at a fraction of the cost.
There is a better alternative to using credit repair law firms like Lexington Law. The best credit repair solution weve discovered so far is Credit Repair Magic. It's the fastest and most cost-effective credit repair solution we've ever found.