To Lexington or Not to Lexington

[mannyj]

So do to many years of mismanagement and plain laziness I have destroyed my credit, my mid score is a 562, I'm not hoping for miracles just to get in the 650 range within the next 12 months and then maybe the 700 club by mid year 2012. I only have 2 open credit accounts American Express Optima (less than year old NO LATES) and Wachovia Student Loans (multiple lates)
that's the good, as for the bad I have 6 charge offs all are over 2 years old totaling only about $2k if I were to pay them all in full, settlement offers I have received could get them taken care of with about $1200, I just recently found out about PFD and I was thinking of going that route, sending letters out etc. and then I read about Lexington, is it worth it to pay the monthly fee and try to have Lexington delete them, or would it be best to send of PFD letters?

[chane]

If you have the money and you can get them to accept your PFD, that would the way to go. I think some of them will accept it, but for whatever reason, some of them won't. It's like they take it personal and want you to suffer for the next 7 years for not paying them.

Anyway, if they don't accept...you will want to dispute them. You may even try disputing them first. There is a lot of learning to do before sending out disputes. If you don't want to do it yourself, Lexington Law does a great job. They are very professional.

The most important thing is that it gets done asap and gets done correctly; especially if you're looking to get a loan in the near future.

[mannyj]

I have disputed them already, and everything that remains for the most part is pretty legit, here's a list of the creditors tell me what you think the odds of them accepting the PFD are:

AFNI
MG CREDIT
TEK-COLLECT
NCO FINANCIAL
SECURITY CHECK
CCS/ FIRST SAVINGS BANK

Does Lexington work fast or do they stretch it out to milk the monthly payments?

[KristiWC]

Hey mannyj I have dealt with NCO they are really good at settleing I settled for around half of what I owed the biggest thing with settleing is if you can go ahead and pay it off and not settle that will look better on your report and score. I was thinking of going with Lexington but didnt want to spend all that money when I wanted to pay everything off so I went to my Credit Union took all my records and reports and talked to a loan manager for about 2 hours getting a plan worked out and it was free They helped me so much on getting a game plan and what I needed to do to get my husbands score up so we can get a morgage loan hopefully by Jan the latest. My score was way to low and since I am a stay at home mom we are just going to put the loan in my husbands name for the time being cause it will take a good year to get my score up to where I want it.

[KristiWC]

I forgot to add I did PFD on one of our debts it was a medical bill and they worked with me very good all I did was explain our situation about having to get a house very soon and that was hurting our score really bad and she was very nice about the whole thing. One thing to remember is be super nice when you call and if it doesnt work call back you will get a new person everytime