Sunday, July 29, 2007

Lexington Law: Prosperity Tool or Needless Rigmarole

Now that on-line banking services are now as secure as their traditional equivalent, does the Lexington Law Firm’s service (promise?) of improving one’s credit score help or hinder our goal towards financial security?

By: Ringo Bones and Vanessa Uy

Since the advent of on-line banking, meeting ones financial needs like e-loans is now only a mouse click away. Some on-line banks have even adopted the concepts of Nobel laureate Professor Muhammad Yunus’ “Banking for the Poor.” You can now avail to a socially responsible investing by providing small business loans to the needy via the Internet. But as one’s on-line business keeps on growing, sooner or later, one will encounter “credit report” problems. Fortunately, there are service providers on-line whose business is to provide solutions to these kinds of problems.

As seen on their adverts, Lexington Law firm promises to improve your credit score and provide credit repair. Lexington Law firm has pioneered credit services over the Internet. Lexington Law firm has been providing credit repair services for many years and have a select group of experienced attorneys who specializes in credit repair. The law firm had helped over 90,000 Americans repair their credit by removing inaccurate, misleading or unverifiable items / information from their client’s credit reports. From bankruptcies to charge - off to tax liens, Lexington Law firm have challenged virtually every credit problem under the sun. They’re good at what they do because they believe in their work. Their attorneys enjoy what they do and are committed to their clients. This means they get you results that you –the client-can count on, results that can literally turn your life around.

Lexington Law firm ignited the consumer credit repair revolution in 1991 with their off-line credit repair services, and reinvented the consumer credit repair process in 1997 with it’s e-Client service. Lexington is committed to providing the best and most effective credit repair solutions to consumers through its innovative credit repair and Internet offerings. At present, Lexington has helped over 200,000 Americans repair their “credit reports” by removing inaccurate, misleading, or unverifiable information. The firm also promises 24 hour 7 days a week support, same day service, no hidden fees and their clients can cancel anytime.

Since their establishment in 1991, only a very small minority of Lexington Law firm’s clients experienced dissatisfaction of the services provided. Like the one client who voiced her opinion on, she said Lexington Law firm does “NOT” provide dispute letters to clients? Spam disputes only? While some of Lexington Law firms more extreme critics describe the firm as an “ENRON” waiting to happen.

From what I and my colleague had observed so far, Lexington Law firm provides an invaluable service of improving one’s credit score especially in this age of on-line banking where prospective clients can only “meet” the bank manager in cyberspace. The service they provide could literally save your credit so that when the time comes when you need money in a hurry, there will be no problem asking your on-line bank for an e-loan i.e. to borrow money. My colleague and I wonder if Lexington Law firm also includes credit counseling or a tip to reduce debt as part of their on-line service? Also, one can’t ignore the testimonials of thousands of their satisfied clients, which only serve to strengthen Lexington Law firm’s reputation.

Like all business related firms, only time will tell if Lexington Law firm will boom or bust in this new age of on-line banking where the primary goal of their current and prospective clients is the acquisition of extra money. My colleague and I just hope that they’ll survive the current July 2007 slowing down of America’s credit market.


Lilith Fair said...

Some financial experts opined that the current global financial crisis that's brought about by the American sub-prime credit / mortgage crisis that began near the end of July 2007 could have been prevented if Credit Rating Companies like Moodys and Lexington had warned us in advance. But - to me - the latest BBC World News financial report is more insightful. The BBC's financial report dubbed "The Four Horsemen of the Apocalypse" i.e. the four main culprits responsible for the current global financial crisis namely:
1. Falling house / real estate prices in the US. This started near the end of June 2007.
2. The "Credit Crunch" that became evident by the end of July 2007.
3. A weak US currency / dollar.
4. And finally the high oil / petroleum prices that's now reaching for the US$ 100 / barrel mark.
To me, the well established financial solution called refinancing won't work anymore because most major financial institutions like banks are "burned" by "dead beats" who luckily obtained credits from banks even though these dead beats / malfeasence don't have the resources to pay back the credit. In other words, they have no collateral. I can safely say it's the bank's fault for issuing loans / credit like their going out of fashion just to attract new clients.

April Rain said...

Aren't consumer credit reporting agencies suppose to warn our financial institutions of serious problems before they go out of hand like the subprime mortgage crisis in the US whose effects are now rippling throughout the global economy. Even with the Federal Reserve's intervention to adjust interest rates, the fallout of the credit crunch won't be gone soon. Maybe it's time for the corporate world to adopt Sharia Banking Laws where only "concrete" and "tangable" assets are used as collateral.

Guapita said...

Back in November 21 , 2007 the BBC's World Business Report aired a news report on AIG and CITI Group being sued by a number of banks and financial institutions for being less than forthcoming about the US subprime mortgage/credit crunch debacle. In my humble opinion, the financial crisis that started in the US near the end of July 2007 - then spread around the world - won't end anytime soon. The crisis may be caused by "Western" style greed but me - and everyone I know interested in these matters - know that there are only two things that drive our global economy: fear and panic. And the financial world's desperation for a "quick fix" is now in full swing. Various Central Banks in Europe and America are now offering -for auction - loans collectively worth about US$20 billion to alleviate the fallout resulting from the "credit crunch". This offer is (?) primarily meant to bolster the value of weakened currencies like the US dollar. Even though there is a stigma attached to financial institutions who choose to avail such loans - i.e. their cretit ratings could suffer - such "quick fix" seems like the most logical short-term solution. Even Capitol Hill plans to legislate a bill to help those bank customers affected by the sub- prime mortgage crisis from losing their homes to their respective banks.
Adopting a conservative stance like Sharia-based financial concepts in which only tangible or concrete assets are allowed to serve as collateral could be a good start in providing a means of a long-term solution to end our current global financial crisis. Despite of adopting Sharia Banking Laws, I'll doubt if we ever be seeing a "Bull Market" anytime soon.

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