Does these law firms that claim they repair you credit really work?

Question

I am a member of lexington law and they claim that they can repair your credit by have things removed. Is this so? Is paying $30.00 a month worth it?

Answer 1

This is DEFINITELY not true!

There is nothing they can do to erase anything from your report no matter how much you pay them. The ONLY things that can be removed from your credit report are erronous information and for this to happen you need to deal with the creditor and obtain proof that this information is wrong. If the information is correct (eg: late payments, collections, etc) it will stay there for 7-12 years depending on what the derogatory information being reported.

Here is an article I wrote about these so called credit clinics:

"Credit clinics, can they really help?"

The FTC (Federal Trade Commission), which protects consumers throughout the nation against deceptive and unfair practices in the marketplace, cautions consumers to be wary of companies commonly called “credit clinics”. These “credit clinics” entice many consumers to “repair their credit.” These companies make claims to repair credit for a fee, but in reality they do absolutely nothing for a consumers that a consumers cannot do for themselves for little or no cost with information on their side.

These are some things to be on the look out:

Companies that guarantee to remove bankruptcies, late payments or similar derogatory information from credit reports
Companies that ask consumers to write to the credit reporting company and repeatedly seek verification month after month, even though the information has already been determined to be correct.
Companies that charge high fees for services to repair credit
Companies reluctant to give out their address
Companies that pressure you to make a decision immediately

If you would like a brochure about credit clinics contact the FTC and request a brochure titled “Credit Repair: Self Help May Be Best”

Federal Trade Commission
Consumer Response Center
Room 130
600 Pennsylvania Ave, N.W.
Washington, DC 20580

www.ftc.gov/credit

Answer 2

No, I don't believe they can do anything we can't do for ourselves, it's takes time and determination, you might experience some frustration but you can do it, most credit card companies are ready to work with you, also did you know that if you have an good payment record you can call them and request that your APR be lowered? Also transfer balances to lower APR credit cards. As I stated it's not easy but to save $30.00 a month I say go for it! Take the time, sit a read your bills the remedies are right there for you.

Answer 3

There are certain things that can be done. But they mostly involve writing to have things verified and stuff you could do yourself if you just looked it up and did it. I think you can repair your own credit by paying all you bills off and paying on time in the future. It won't take very long if you do this. I would spend the $30/month on paying off my debt instead.

Answer 4

I believe they suck you dry. Pay the bills on your own. You can contact the credit bureaus on your own and do the same thing. I used to work with them but realized I was spending more than they were helping. They took their sweet time sending out the letters to the credit bureaus. I was paying for 8 months and only one thing was removed from my credit history. Tell me, was it worth it?...no. My credit score remained the same.

Answer 5

NO NO NO....you + time + responsibility can increase your credit score....repair? do they have some financial wrench or hammer?

Answer 6

NO, only YOU can repair your credit.