Question

Question

Credit repair scams promise which of the following?
Responses

Erase false information for your credit file
Erase false information for your credit file

Erase accurate negative information from your credit file
Erase accurate negative information from your credit file

Refinance lines of credit to reduce minimum payments
Refinance lines of credit to reduce minimum payments

Lower interest rates on lines of credit

Answer 1

Credit repair scams typically promise to erase accurate negative information from your credit file. They may claim they can improve your credit score by removing legitimate negative marks, which is misleading and often illegal. While they might also suggest other financial solutions, the key promise associated with scams is usually the removal of accurate information.