But, the FTC says, FESs purported business opportunity requires its agents to pay hundreds of dollars to join and advance in the business. Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. 
We once had a client for whom we were able to remove negative incorrectly reporting information and her credit score still went down. On May 23, 2022, Financial Education Services, United Wealth Services, VR-Tech, VR-Tech Mgt, CM Rent, Youth Financial Literacy Foundation, Parimal Naik, Michael Toloff, Christopher Toloff, and Gerald Thompson and into an FTC lawsuit and takeover. The FES Protection Plan is a powerful program which encompasses many of our unique financial products. Her utilization shot up from 50% to 90% during the time we were litigating her case. The site is secure. [YouTube video presenter states:] I not only got my child support judgment removed within 30 days, they also removed $20,000 of medical collections in the same 30 days. I mean its phenomenal. 26. So, many of us might be looking for alternatives, like buying gifts locally or maybe from online marketplaces or sites you find through your social media accounts, online ads, or by searching Youve opened all your gifts, and now its time to open those post-holiday credit card statements. 
For the second time this month, the FTC has sued a credit repair operation that it says combined fake promises to swiftly and substantially boost peoples credit scores with the offer of a bogus money-making opportunity selling credit repair services. But the FTC says FESs services accomplish little or nothing. Find legal resources and guidance to understand your business responsibilities and comply with the law. Should FES violate the terms of the settlement at any time over the next three years, it must pay an additional $750,000 penalty. Federal government websites often end in .gov or .mil. One of those scams was 8 Figure Dream Lifestyle, which touted a proven business model and told Scammers are calling people and using the names of two companies everyone knows, Apple and Amazon, to rip people off. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. The monitor is there to make sure the businesses are being conducted according to the law.. For example, Defendants purport to pay what they call a customer acquisition bonus or CAB that is generated when an FES Agent enrolls a new agent. Georgia Weapons Carry License Information, Lactation Room Rules and Participation Agreement, Facebook page for Office of Attorney General of Georgia Chris Carr, Twitter page for Office of Attorney General of Georgia Chris Carr, Carr: Illegal Credit Repair Operation to Pay $1M Penalty. In that case, the issue that I would focus research on is if the current iteration of UWE is continuing the items that were the focus of the complaint. Press question mark to learn the rest of the keyboard shortcuts. Defendants require consumers to provide their financial information, including their credit or debit card number or account routing number and bank account number, on the phone. As of right now the government has frozen The companies accounts and no one has been able to make a check since May 2022. Ive become Pinnacle Senior Vice President, earned the Bentley, house payment and numerous company cruises. United Wealth has also done business as United Wealth Education. One wonders, therefore, whether any of these companies are an advantage to consumers or merely a business opportunity for someone taking advantage of folks in dire straits. For instance, assume you have $75 in your account. But, the FTC says, FES does neither. 47. I was able to have the time freedom I wanted. 39. In short, in numerous instances, Defendants fail to remove negative information permanently from consumers credit reports. If you or a loved one have struggled financially and now find yourself 
We will dispute items on your credit report that do not belong on it because they are not legitimate or not verifiable. Youve probably heard: this holiday season, it might be harder to find the gifts youre looking for. Looking for legal documents or records? Thats it. The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. The complaint charges that few people, if any, make the income promised, and many lose money as FES agents. His decision ultimately was to appoint the receiver as the monitor who will stay on for an undisclosed amount of time. 36. Defendant Youth Financial Literacy Foundation (Youth Financial) is a Michigan nonprofit corporation with its principal place of business at 37637 Five Mile Road, Suite 397, Livonia, Michigan. Meanwhile, generation bonuses start at the executive sales director level and typically pay an additional 1% (going up to 2.75% for pinnacle senior vice president). 
We wont post comments that include vulgar messages, personal attacks by name, or offensive terms that target specific people or groups. 46. Federal government websites often end in .gov or .mil. Update 2 On The Make Money With a Side Hustle Project. There is nothing more to a good dispute letter than that. [Slide from YouTube video presentation:] I took advantage of the protection plan and my score went up 269 points in the first 4 months. An FES Agent earns a $12 commission for each person who enrolls in Defendants credit repair services, and $12 each month thereafter as long as the person continues to make his or her payments to Defendants. For more information on how the FTC handles information that we collect, please read our privacy policy. 
Notify me of follow-up comments by email. Unlike any other financial service on the market, the FES Protection Plan is designed to cover all aspects of your financial portfolio. This allows the credit union to maximize the number of overdraft fees it can charge. And, it details a complex system in which it says FES agents become eligible for ever-bigger commissions and bonuses by building a downline of recruits who, in turn, sell FES services and recruit new agents to do the same. Copyright 2022 | Credit Repair Lawyers Of Arizona | Sitemap | Designed By MFWD, 39111 6 Mile Road, Suite 142, Livonia, MI 48152, Fair Debt Collection Practices Act (FDCPA), Fair and Accurate Credit Transactions Act, Statutes of Limitations for Credit Reporting, Financial Education Services (FES) or United Wealth Education (UWE). But keep in mind, this is a moderated blog. Defendants require consumers to provide their financial information, including their credit or debit card number or account routing number and bank account number, on the phone. Youth Financial has also done business as American Credit Education Services, Financial Education, Financial Literacy Education Services, and United Credit Education Services. Comments and user names are part of the Federal Trade Commissions (FTC) public records system, and user names also are part of the FTCscomputer user recordssystem. While they offer many financial services, from life insurance and financial literacy training to wills and living trusts, their main offering is credit repair. Change Your Mindset. Through the combination of new agent recruitment and purchases of credit repair services, FES Agents can achieve titles and trigger bonuses..
10. But, the FTC says, FESs purported business opportunity requires its agents to pay FES $299 up front to participate in the business, plus $89 per month thereafter for FESs credit repairs serviceseven if they dont need them. About Us; Staff; Camps; Scuba. 59. Learn more about your rights as a consumer and how to spot and avoid scams. Once someone files for bankruptcy, that filing is a matter of public record and stays on your credit report. 
We may routinely use these records as described in the FTCsPrivacy Act system notices. The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. State of Georgia government websites and email systems use georgia.gov or ga.gov at the end of the address. We do not charge any fees to you for sending out dispute letters. Call us today at (248) 353-2882 or email us at [emailprotected] for more information. I 52. FTC files a complaint alleging that FES and its owners, Parimal Naik, Michael Toloff, Christopher Toloff and Gerald Thompson, as well as a number of its related [YouTube video presenter states:] Now this is what I love, is Credit My Rent. WebFES is a nonprofit foundation that provides support to nonprofit organizations so they can focus on fulfilling their missions. I went from a 465 to a 538, by month three I went from that 538toa610. O sea que es tremendo este plan de compensation que tu puedes ejercer, y aparte de eso tambien van a pagar tu automovil, van a pagar tu casa, te van a dar bonus en cash, te dan todo tipo de compensation mientras tu te estructures, a medida tu vayas escalando estas gradas que miras hasta al exito, ellos van a irte dando mas beneficios para que tu no tengas que pagar por tu auto, por tu casa, y ahorrar todo tu dinero. Webthe village underground open mic fes credit repair lawsuit. This single mom moved to Atlanta 4 years ago, retired hair stylist slept on a friends [sic] couch fast forward to joining our company and becoming a millionaire! After just 60 days, 18 of the 23 were deleted and my credit score went up 174 points to a 679! In addition, Defendants market an investment opportunityencouraging consumers to become FES Agents and then recruit other consumers to purchase Defendants credit repair services (often at the same time as marketing their credit repair services). Each title has its own prerequisites to achieving it, but each one essentially boils down to needing a larger number of people in an FES Agents downline, a certain number of downline FES Agents having achieved their own titles, and a certain dollar amount in personal credit repair services revenue each month. 40. This service is AMAZING!!! Credit report repair work companies can not ask for or get settlement until they provide the assured outcomes. Why? Defendants explain their commissions and bonuses in a compensation plan they provide to prospective and new FES Agents, which is often described during calls with Defendants representatives or during training sessions. The [secured credit] card is designed to advance the accumulation of new information in a credit file by reporting account activity to all three of the major national credit bureaus every month. Imagine creating your own weekly $1200 check.. .would that help your family. Most of the companies do Balance Transfers between cards, having the temporary Defendants often provide FES Agents with the necessary marketing materials, including social media-ready advertising and scripts, to recruit new agents. Youth Financial was originally incorporated as MSU Common Sense, Inc., which changed its name to The Thompson Scholarship Foundation, Inc., which changed its name to Patro Scholarship Foundation, Inc., which changed its name to Youth Financial. For example, FES sends clients form letters to send to credit bureaus to dispute negative items, but the letters dont include supporting documents so they rarely result in removal of the items, the FTC says. Bad things happen to good people all the time. 7. Its illegal for a credit repair company to charge
Lessons Learned. They are also enjoined from advertising, offering or selling credit repair services in Georgia or creating the perception that their independent sales agents have an affiliation with another to advertise, offer or sell credit repair. Washington, D.C. The Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal district court yesterday against the credit repair company Prime Marketing Holdings, LLC, which allegedly charged consumers a series of illegal advance fees as well as misrepresented the cost and effectiveness of its services. 32. 9. Can we agree that were offering something that people need? He is an authorized signatory on many of Defendants bank accounts. At all times relevant to this Complaint, acting alone or in concert with others, CM-Rent has marketed and sold credit repair services and investment opportunities to consumers throughout the United States. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. In numerous instances, Defendants fail to provide consumers with a written statement containing prescribed language concerning Consumer Credit File Rights Under State and Federal Law before any contract or agreement is executed. In reality, however, Defendants purported investment opportunity is an illegal pyramid scheme. It sounded like BS then and according to the FTC complaint and consumer information it doesnt sound much better now. Defendants explain that FES Agents can earn bonuses when a qualified FES Agent enrolls a new FES Agent who produces a certain minimum of personal revenue within a specific time frame. You may be able to file a Credit Repair Organizations Act lawsuit and may be able to receive compensation for your injuries. Downline loading Agents sign up an individual for the FES Agents downline without that individuals knowledge and with no intention of the individual even becoming an active FES agent. 55. In fact, in some instances, consumers reported that their credit scores actually worsened after purchasing Defendants credit repair services. A judge reversed the injunction against UWE in about a month after the charges against them were filed. 25. The complaint says FES charges people $99 up front for its services, and a recurring fee as high as $89 each month. We work to advance government policies that protect consumers and promote competition. Defendant VR-Tech, LLC (VR-Tech) is a Michigan limited liability company with its principal place of business at 37735 Enterprise Court, Suite 600, Farmington Hills, Michigan. The .gov means its official. [YouTube presenter states:] Then the next way we get paid is called our Monthly Infinity Bonus. For example, to purportedly remove negative information, FES emails clients uneditable form letters to print, sign, and send to credit bureaus. 48. No credit repair company can do anything about it unless the bankruptcy does not belong to you.
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