FTC Charges Credit Repair Firm: The FTC...

FTC Charges Credit Repair Firm: The FTC charged the American Assn. of Credit Inc., a Glendale credit repair firm that also goes by the name Design Systems, with misleading consumers into believing that the company could erase negative information from consumer credit reports. The regulator also charges that the company failed to use customer money to pay off creditors as promised and, instead, “co-mingled” the funds with its own, failing to reimburse either the creditors or the consumer. American’s owner, Elena Halford, denies the charges.