Lexington credit repair is a service offered by Lexington Law, a consumer advocacy law company with offices in 19 states across the country. Their legal expertise in helping consumers settle their debts is well-documented having been doing it for the past 20 years.
In many of the cases managed by Lexington, the following are seen as the Lexington credit repair strategies that have worked for over 2.5 million people with negative credit reports in the past year alone.
Challenge Erroneous Reports
Credit reports are not without their errors and so a detailed study of the information in the report is usually the first order of action. However, do not attempt to dispute an entry that you know is legitimate and true.
Lexington offers unlimited disputes and with every credit report you get, free or paid, you can ask them to help you review and work on challenging items you feel are erroneous.
Be Open to Goodwill Intervention
Goodwill intervention is a key element in trying to reduce bad credit and fix your problem. It helps when you have a law firm backing your intervention letter although there have been people who have successfully managed to get lenders to drop a percentage off the loan or adjust the negative credit report for being a good customer. Items like late payment fees and other add-ons can be dropped with a proper goodwill intervention letter.
Study What It Takes to Improve Your Credit Score
With or without the help of Lexington credit repair services, you should take the initiative to study the different ways to improve your credit score. Here are a few standard methods:
• Keep your balance on your credit cards low
• Pay as much as you can instead of just the minimum
• Avoid closing down credit card accounts just because you don’t/won’t use it. Just have the discipline not to use it. Keeping the cards will help your credit score as long as it does not have a negative balance or problems with payment
Be Fiscally Responsible
There are many ways to be smart with the money you earn. Here are a few of them that don’t require you to know a lot about accounting:
• Be emotionally connected to your pay. It is money you have earned and deserve which means with every purchase make sure you assess whether it is worth spending your hard-earned money on. Using a credit card or even a debit card makes you emotionally detached from your earnings and this is where the problem starts
• Watch out for the small recurring expenses like the drive-through food or the six pack of beer or bottle of wine you drink every night. Once an expense recurs regularly, it no longer becomes “minor.”
• Don’t be stingy with yourself. Treat yourself to the things you like to eat and drink but make a treat for something well done.
In summary, the Lexington credit repair tips and services are valuable only to those who will follow the guidelines of the lawyers. If you feel that these tips makes sense, then start working on repairing your credit now. It’s never too late.