Category: Finance

Should You Pay Lexington Law To Repair Your Credit?

When it comes to credit repair services, Lexington Law has been consistently rated as one of the top companies on the market. They have been in business since 1991 and their decades of experience has allowed them to effectively improve the credit scores of thousands of consumers.  So is this credit repair service the right one for you?  In this article we will cover who Lexington Law is and what they offer in terms of credit repair.

What is Lexington Law’s Background?

As a leading credit repair service, Lexington Law has more than 20 lawyers on staff and their specialty is credit law.  These two features make it stand hands above the competition.  Most credit repair services do not have these features.  In 2017, they were able to remove over 10 million negative items from clients’ credit reports.  Those numbers alone give you an idea of how trustworthy and competent Lexington Law is when it comes to credit repair.

What Can Lexington Law Offer You?

As a law firm, Lexington Law staffs over 24 licensed lawyers in 19 states.  Every lawyer has received advanced training in consumer protection law, credit law, consumer advocacy as well as current issues surrounding credit reporting. They offer a free initial consultation as a part of their credit repair process.  You will receive a free TransUnion credit report along with a FICO score summary.  During this free and personalized initial consultation,  Lexington Law will get the chance to review your current credit situation.  They will then let you know the best course of action for removing negative items from your credit report.

Here are some of the negative items Lexington Law has been able to remove for their clients:

  • Collections
  • Wage Garnishments
  • Late Payments
  • Charge Offs
  • Judgements
  • Bankruptcy
  • Settlements
  • Liens
  • Repossessions
  • Foreclosures

If you decide to enlist their services, Lexington Law will begin drafting up dispute letters for each of the three major credit reporting bureaus (Transunion, Experian and Equifax).  When the credit repair process begins, you will have access to 24/7 support from Lexington Law’s team of professionals.  Contact them anytime with questions you might have.  They will also provide you with ongoing updates on the progression of your case. Ultimately, it is the mission of Lexington Law to help their clients get their credit back on track so that they can meet all their personal finance goals.  Click here to read a full review of Lexington Law.

What cannot be removed from your credit report

Certain items on your credit report cannot be removed.  If there is real debt on your report that can be verified with the creditor, this cannot be disputed.  In this instance, Lexington Law would try to put together a payment plan with the debt collector. Once this is in place, you want to make sure you make the payments on time to help bring your credit score up.  

Here are their plans

Lexington Law offers three plans.  The service plan you end up choosing will be based on the level of credit repair you need.

Concord Standard: $89.95/Mo

Concord Premier: $109.95/Mo

Premier Plus: $129.95/Mo

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Are Lexington Law’s Credit Repair Services Worth Your Money?

As with any credit repair service, Lexington Law cannot guarantee certain results. Furthermore, there is not a one size fits all approach when it comes to repairing someone’s credit.   With that being said, with over 20 years experience in the credit repair industry and thousands of positive reviews, they are doing something right. Many of Lexington Law’s customers are seeing positive results in about six months.  On average they claim to be able to remove around 10 negative items per client over a 4 month period.  Of course these results are ultimately dependent on the state of your credit when you sign up for their services.

When all is said and done, if you are able to improve your credit, your finances will be better off in the long run.  When it comes time to secure a loan, you will be in a better position to secure a more favorable interest rate.  This could wind up saving you thousands at the end of the day.   

 

 



Things You Should Know About Debt Consolidation

Sometimes people get in over their head when it comes to debt. There are a number of reasons that this can happen, ranging from an unexpected expense to a sudden job loss. It happens in more cases than you might think and it is not always a result of poor spending habits, but more often is a direct result of an unfortunate circumstance that has occurred that was completely beyond the control of the individual in question. However, it often leaves that person with a mountain of debt that he or she must now decide how to repay. Furthermore, the person is forced to attempt to remedy the situation without facing financial disaster. Debt consolidation is one way that an individual can regain control of his or her finances.

What is debt consolidation?

Essentially, debt consolidation is a way of managing debt that has accumulated over time. Many times, it is due to having too many credit cards or having a balance that is overwhelming. However, it can encompass more things than mere credit card debt. Sometimes student loans can be consolidated and other types of debts can sometimes also be consolidated, depending on the terms and conditions of the original debt. When debt is consolidated, all of the monthly payments related to the total amount of debt are reduced into one payment that is then further reduced into an amount that can be managed more comfortably by the individual. It essentially helps a person to make one payment instead of several and allows them to pay an amount that they can afford without going without food or other necessities.

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Is it effective?

Debt consolidation is sometimes very effective. When it is done properly, it is tremendously effective in helping a person to regain control of his or her finances. Debt consolidation specialists do much more than simply reduce the amount of money that must be paid out each month. They also work with creditors on the customer’s behalf in order to prevent collection calls and further attempts at collecting debt. They also provide comprehensive counseling in order to help the customer understand how to better manage their debt so that a problem does not occur again in the future. This can give a person a second chance at dealing with debt and also give them the opportunity to learn a great deal in the process.

Are their concerns

Of course, there are always concerns with virtually everything. The biggest concern when it comes to debt consolidation is to ensure that the company that a customer decides to use is reputable and can effectively help them reduce debt. It is up to the customer to ensure that they find the right company that is both upstanding and hardworking. Fairly researching a debt consolidation company is essential, as there are some scams out there that will simply tell a customer that they will do this and then take their money, doing very little if anything to reduced the debt. However, there are just as many companies that are reputable and will do exactly what they say they will do.

Summary

In closing, debt consolidation is an effective way of reducing debt and managing personal finances. It provides a way to get out of any current debt while simultaneously giving the individual in question the opportunity to learn how to better manage finances in order to enjoy financial well being later on.



An Introduction To Home Mortgage Refinancing

During the past several years, the interest rate has been lowered, making it a great time for homeowners to refinance their mortgages. In order to do this, they need to be familiar with the process, and if it will work for them.

Who Will Benefit From Refinancing Their Mortgage?

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The people that benefit from refinancing their mortgages are people that purchased the home when the interest rates were higher. When they refinance to the lower rate, they will be saving money on a monthly basis. The actual total amount that they will have to pay back for the home will be a lot less when they refinance.

How To Refinance The Mortgage?


A person that is considering refinancing their mortgage should make sure that they take a look at their original mortgage closely. They should sit down and decide how much they will be saving, and they will come to the conclusion that it will be the best thing that they can do.

Finding A Good Bank To Go With When A Person Wants To Refinance Their Mortgage

When a person wants to refinance their mortgage, they usually stay with the bank that they got the original mortgage from. They can also shop around for different banks if they think that they might get a better deal. A great way to compare the rates that are being offered from a variety of banks is to do a search online. They will be able to compare the various banks against each other without ever having to leave their home.

What A Person Will Need In Order To Refinance

A person that wants to refinance their mortgage will need to bring along some things when they visit the bank. They will need to have the original mortgage contract. They will also need proof of their income, whether it is from a paycheck stub or from their tax return. This will happen to anyone that is listed on the mortgage so it is necessary that all parties bring that information to the bank with them. They will also need proof of their identity, like a driver’s license.

Good Credit Is Extremely Important When Someone Wants To Refinance

Keeping a good credit rating is important is someone is hoping that they can refinance. There are people that are able to without the best credit rating, but most that refinance have a good or perfect credit rating before they try to. If there are problems with their credit, a person should try to rectify these items before they try to refinance their mortgage.

People that refinance in today’s world, usually are better off for it. Many people like to pay a little more of their mortgage each month. The extra money will be taken off of their interest payment so it saves them some money in the long run. Refinancing is a great way to lower the price of the overall home, and many people use the extra savings for vacations or renovations to their dwelling.