Credit Repair Law Firms are Scams

BusinessScams

  • Author Stan Pacovsky
  • Published October 31, 2008
  • Word count 427

There are hundreds of law firms out there that specialize in credit repair. I may get sued for writing this, but it's my opinion that credit repair law firms like Lexington Law are scams. Here's 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 they're 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 don't 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 you're 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. Doesn't 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 they've done their job, so there's 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 it’s 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 we've discovered so far is Credit Repair Magic. For a one-time fee of $97, it’s the fastest and most cost-effective credit repair program we’ve ever found. Now that you know the truth, don’t waste your time with useless e-books or ridiculously overpriced credit law firms or other monthly services.

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Article comments

Stephen Walker
Stephen Walker · 15 years ago
I gave my debit card number to that company they go and they mess me up, and write a check out of my account. Never give them a debit card, they have control of your money. They mess me up with credit beareus. Now I had hire another company to straighten out what they messed up. So I am out of money and no results

Alice
Alice · 15 years ago
Considering that Stan is listed as the contact on CreditRepairMagic press releases and has a CreditRepairMagic.com e-mail address, I get the feeling that you are right. There are quite a few statements in this article that are completely incorrect so anyone looking at paying for credit repair would be well served to do their own research.

shanda
shanda · 15 years ago
I have a feeling stan works for credit repair magic.