1,298,592 Verified Removals from Clients’ Credit Reports Makes 2010 a Record Year for Lexington Law.
January 25, 2011 | Salt Lake City, UT | (PR Web)Lexington Law, the nation’s leading consumer advocacy law firm announces that in 2010 it helped its clients see the removal of more than 1.3 million questionable and unverifiable items from their credit reports. This record number of items removed in a year included late payments, collection accounts, charge offs, and a variety of other damaging listings.
Lexington Law’s services help clients challenge unfair and inaccurate credit reports with creditors, credit bureaus, and collection agencies, all of whom must adhere to specific laws that protect consumers. Additionally, Lexington provides cutting edge information and coaching to assist clients in improving credit scores.
Negative listings on consumer credit reports significantly impact credit scores. A single 30-day late payment can lower a credit score by 60 to 110 points. More serious negative items, such as collection accounts and repossessions, can destroy a consumer’s credit score.
A low score may result in a denial of credit or cost the borrower far more in interest payments. Auto loan and home mortgage lenders, credit card and insurance providers, and even some employers use credit scores to determine whether borrowers are likely to repay loans. If a lender determines that a borrower presents a risk of defaulting on a loan, it will either increase the amount the borrower must pay for the loan, or altogether deny the credit request. Because of the close link between negative credit report items and lowered scores, removing questionable and unverifiable negative items may be the most effective method to increase a credit score.
“By holding creditors accountable for what they report about private citizens and their financial transactions, Lexington Law Firm fights on behalf of abused and exploited consumers during this tough economic period,” said John Heath, Directing Attorney for Lexington Law.
Demand for credit repair continues to increase as lending requirements tighten. Today consumers must have much higher credit scores to be approved for low interest rate loans. A consumer who could have qualified for a low-interest loan a few years ago may not be able to meet even minimum lending requirements today.
“Consumers with good credit scores have been able to capitalize on bargain prices and extremely low interest rates. As the economy recovers, Americans will be presented with better opportunities to use their good credit scores to their advantage. Paying careful attention to credit reports and scores is critical, and Lexington Law stands ready to assist.”
About Lexington Law
Lexington Law is a consumer advocacy law firm with 21 years of experience helping over 1/2 million Americans work to improve their credit. The firm empowers credit success through effective services which leverage consumer’ rights to legally resolve issues with credit bureaus and creditors. Lexington works to ensure that its clients’ credit reports are a fair and accurate representation of their true creditworthiness. For details about Lexington Law’s services, attorneys, or statistics visit:www.lexingtonlaw.com.