Credit Repair Scams

In a nationwide crackdown on credit repair companies, the Federal Trade Commission said Thursday that 30 firms were being targeted, including a Woodland Hills company that had its assets frozen. Success Credit Services was accused in an FTC civil suit of violating the Credit Repair Organizations Act by contending that it could quickly clean up credit reports

by removing legitimate negative items, such as late payments, bankruptcies and tax liens The widely advertised company, headed by Tracy Ballard-Straughn, also was accused of allegedly collecting thousands of dollars of upfront fees — also a violation of the credit act — and then doing little or nothing in return. U.S. District Court in Los Angeles has granted the FTC’s request for a temporary restraining order and asset freeze for the company and Ballard-Straughn.