Final answer:
Utilizing asset building strategies can help repair credit over time.
Step-by-step explanation:
The statement is True. Repairing credit over time can be achieved by utilizing asset building strategies. Asset building strategies involve taking steps to improve one's financial situation, such as paying bills on time, reducing debt, and saving money.
For example, consistently making on-time payments for loans and credit cards can help to build a positive credit history. Additionally, reducing overall debt and maintaining a low credit utilization ratio can also contribute to improving credit scores.
By practicing responsible financial habits and making smart decisions with money, individuals can gradually repair their credit and improve their overall financial health.
Learn more about Repairing credit and asset building strategies