Which of the following is true about credit repair services?
A)Using a credit repair service should be the first step in negotiating an insolvency.
B)A credit repair service will work with the trustee in bankruptcy to administer a consumer proposal.
C)A credit repair company should be contacted only as a last resort in avoiding bankruptcy.
D)Credit repair companies have no special powers to correct information on your credit report.

Question

Quizplus · Accepted Answer

Credit repair companies cannot magically remove negative information from your credit report. They may dispute inaccurate information on your behalf, but ultimately it is up to the credit bureau to investigate and correct any errors. It is important to be cautious of credit repair companies that make bold promises or charge high fees, as they may be scams. It is generally recommended to first try to improve your credit score on your own by paying bills on time, reducing debt, and checking your credit report for errors.

Which of the Following Is True About Credit Repair Services