Lexington law
creditrepair.com
The Credit Pros
If any of those names sound familiar to
you it's probably because you've either
used or considered using a credit repair
agency
in today's video we're going to talk
about why i don't recommend using a
credit repair agency and i'll also give
you the pros and cons of using them
stay tuned
[Music]
hi everybody welcome back to my channel
it's me jazzy mac i'm so happy to be
back with you like it's so great to just
sit here and talk like i did my hair on
my makeup and i'm just so excited i'm so
happy
the baby's finally sleeping so i get to
do these videos and follow up on many of
the questions that you all had around
credit repair companies now many of you
know anybody that has used my templates
um for cleaning up your credit
many of you have tuned into my videos
you guys know how i feel about credit
repair agencies i am not a fan of them
now i'm not saying they're all bad
i'm just saying they're not all good
either and i will tell you why um
i am doing this video as like a direct
response to having a friend recently
reach out to me
saying hey jazzy
i didn't want to come to you because i
was ashamed and i didn't want to tell
you about my credit situation because i
didn't want you to know how bad it was
um and she went on to say that she'd
been using a credit repair company
that had basically taken her money and
they had not done anything for her
credit in fact they stopped answering
the phone for her
and this made my blood
boil
simply because number one you don't ever
have to be ashamed to come to me and ask
me anything about your credit there is
no judgment
coming from me when it comes to credit
i've been in the 400s before people
i will not judge anybody there is
nothing on your credit that a person
could show me that would make me say oh
my gosh like there is nothing for me to
judge so when she came to me and she was
like hey i hadn't told you about my
credit situation because i was ashamed
well that was the first thing that sort
of pissed me off because i'm a friend
i'm your sister i'm your girl like i'm
here to support you not judge you the
second thing that upset me was that she
paid someone
to fix
her credit
and i've always said to you guys that
there is nothing that a credit repair
agency can do for your credit that you
cannot do for yourself but i digress
let's just get back to the list of the
pros i'm going to give you the pros of
credit repair agencies and notice i keep
using air quotes because these are very
hypothetical pros that i'm going to
discuss
the first hypothetical pro is that
oh
someone's going to do this for me
someone's going to
fix your credit for you you can sit back
relax kick your feet up and you'll go to
sleep and wake up one day and your
credit's going to be fixed right
wait
i just had to i got some stuff i'm going
to use trust me you'll see why i went
over there all right
hypothetical pro number two
it's going to give you quick results
right
you're going to essentially get someone
to like sweep your credit clean
and that's gonna just like kind of like
happen overnight right
and then number three after that sweep
happens there's going to be like a
credit boost in your score like your
score is going to go from like 400 to
like 800 like overnight
right
and then
the fourth
pro
of using the credit repair agency
is it's cheap
right
okay so those were the pros you said
something like oh it's cheap like i only
had to pay this person 50 bucks a month
or i only had to like submit a upfront
payment of like twelve hundred dollars
and they're going to just like repair my
credit i'm gonna get that house i'm
gonna get that car i'm gonna get that
job i'm gonna get this business and that
right
wrong
i just want to share a little bit with
you all about the laws before i get into
the cons
of using credit repair agencies
so
i shall tell you i shall quote to you
what
the consumer finance protection bureau
says and you guys know the cfpb is like
my buddy they're like my big brother
like i'm i always have used them as a
like a back pocket sort of card trick
for when i was working on my credit um
like and i put this in like the credit
road map like how to properly utilize
the cfpb to help your credit that's in
my roadmap
um but the cfpb isn't just for like
credit it's like for all things
financial um and what the cfpb and i'm
going to quote what they said
according to the telemarketing sales
rule
it's illegal
for a company to charge you
for credit repair
unless it has been six months
six months since the company achieved
the promised results
therefore
your credit repair your credit report
has to show that the promised results
were achieved six months
earlier than when you were billed
okay so i'm just going to translate that
into layman's terms so
any credit repair agency that is
charging you up front to get started on
repairing your credit
it's operating illegally and i literally
just read it to you and i also put it on
the screen for you
when it comes to credit repair you can
think of the services or the act of
repairing credit think of it in the way
of how you would take your car to a
mechanic shop
now if your car is making a really bad
noise and it's breaking down and you
just don't know what the issue is and
you want to take your car to a mechanic
to be fixed
well
that mechanic isn't going to say okay
you just give me a thousand bucks up
front and then when i'm done fixing your
car i'll call you
no
that's not how mechanics work mechanics
will say okay bring your car here here
i'll see what the issue is i'll fix it
i'll test drive it i'll test drive it
some more and then when i'm super sure
that it's fixed
and when i can vouch and say that the
problem no longer exists and it won't
come back then i'll call you and send
you an invoice and then you'll send me
the payment
so
if that's how a mechanic works for
someone repairing your car well
shouldn't credit repair be the same
concept why would i pay someone like
upfront
to pay to like work on my credit
and i have to just hope and pray that
they're going to give me like good
results
number one it's not a very good method
to live by and number two it's also
illegal as i've told you
that there should
if you're gonna pay for credit repair
which i do not recommend but if you're
going to
they should not be charging you a dime
until they've gotten actual results so
that means that they should have sat
down with you first to say this is what
i can do for your credit
these are the type of results you're
going to see
and six months from now when you see
those results after those results have
been rendered
then you will issue me the payment
that is how it this thing is supposed to
go but it usually doesn't so i'm just
going to go through a list of red flags
because i know some people are just
some of y'all don't listen to me okay
and i'm okay with that i'm fine with
that but i just want to give you some
red flags that you need to look out for
because so many of you have been victims
of trusting people and trusting these
companies to
wipe your credit clean
and not knowing even like what questions
to ask or how to like properly vet these
people so i don't have an actual red
flag with me
but i got this right here this is like
this is what we're going to use for our
red flag i got it upside down all right
this is going to be my red flag today so
every time i wave this
yes
we are alabama fans in this house sorry
auburn fans every time i wave this this
is going to be indicative of a red flag
that needs to make you run away from
people that want you to pay for credit
repair so the first thing
is i've already mentioned it asking for
upfront payment red flag red flag
if they ask you for an upfront payment
you should say hey that's illegal and
i'll show you the cfpb said you can't
ask me for that okay
now if that isn't enough for you
like i said you can read through the
credit
uh repair organization act and explain
to them why that is illegal
number two
if a credit repair company asks you to
misrepresent yourself
that is a red flag and what that means
is sometimes they may ask you to open up
an additional trade line or to open up
um to get an ein from um the irs um an
employee identification number
um asking you to get like you know extra
things
to sort of like supplement your identity
red flag okay
um the third thing that should be a huge
red flag is if they're holding
information back from you if you're
asking them questions about your credit
like hey what's on my credit or hey like
you know why did you dispute a good
standing account
and they can't tell you or they say oh
that information is
not available or that information is
just our information we can't share with
you why we do things or we can't share
with you our methods
of how we are disputing things
red flag okay
and then the fourth thing like if they
can't answer specific questions like if
you say how many collection accounts do
i have on my credit cause because
they're
fixing your credit right so they should
know how many late payments do i have
well what is the status of these
payments they can answer those questions
red flag okay
and like the most common sense red flag
is generally when something is too good
to be true
i often say like we should all be living
with like a prosperous mindset where we
we have this expectancy mindset of good
things happening to us and good things
happening for us
but sometimes like depending on like
where you come from
um we can sometimes operate with like a
scarcity mindset so we sometimes expect
bad things to happen or we expect things
to you know we're like always like oh i
don't know about that it's too good to
be true well in this case if something
is too good to be true it probably is if
they say we can take you from a 500
credit score to an 800 credit score in
30 days that is too good to be true
don't believe it run away
hide your kids hydra husband everything
because that is just not true nobody can
reasonably predict an exact score
increase like even if you call the
credit bureaus they cannot exactly
predict how your score is going to jump
over the next 30 days
so you want to make sure that whoever
that you use or whoever that you decide
to employ although jazzy mac is telling
you not to employ anyone if you do that
you need to ask these questions and if
you don't feel good after asking all
five of these questions
red flags then you need to run away
again there is nothing that a credit
repair agency can do for your credit
that you can't do for yourself let me
tell you what they're going to do
they're going to go through and dispute
a whole bunch of items on your credit
this is if they answer the phone after
they take your money because some of
them just don't answer anymore
for the ones that do answer
generally they're just going to go and
do a bunch of disputes
and they're going to do a bunch of
disputes online
and many people have been labeled
frivolous as a result of that because
they're just disputing they're just
writing disputes disputes they're just
pushing it out they're throwing
spaghetti at the walls and they're
seeing what sticks and that is what gets
your account flagged by the credit
reporting agencies so i hope that was
helpful i hope you understand why i'm
like so against credit repair companies
like because usually they're like
not honest companies um this is not to
say that
lexington law or you know the credit
pros are bad companies i just i'm just
saying that like the people that i know
that have used them
have like still had to come to me for
help with their credit so if you're
going to pay a company that much money
you need to make sure that like your
credit
um is like perfect i mean like 850
credit score perfect if you're going to
pay
for
credit repair
um again just always do your research
i can't dictate what you do after you
turn this video off but please do your
due diligence and check these companies
ask these companies questions you know
and if you don't feel good about it come
on back to jazzy mac ask me how can you
clean up your credit and i will tell you
for free just comment below i'm not
going to charge you anything to tell you
what i think might be helpful to your
credit now i don't offer credit repair
because i don't believe in it i believe
in educating my people
that's that's what we'll do we will
educate you
and we will allow you to take the steps
that you want to take to fix your credit
so
i hope that was helpful if you haven't
already please go ahead and smash that
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i just like sometimes i'm in the
comments and i'm talking about like baby
stuff with different moms and like
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know we're just talking about like
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like i love you guys so much so come on
back to my channel let me know how i can
help you what content you want to see
i'm always happy to help guys until the
next time ciao see you later arriba
dirty bye