Thanks for reading. Yes, is is official, as read on the official FTC website, United Wealth Educators, UWE (formerly Financial Education Services, FES) has been shut down. 😣

According to the filing here’s the Case Summary:

Since at least 2015, Defendants have operated an unlawful credit repair scam that has deceived consumers across the country. Through Internet websites, social media, telemarketing, and using a network of sales agents (“FES Agents”), Defendants falsely claim they can improve consumers’ credit
scores by removing all negative items from their credit reports and adding credit building products. Defendants often provide FES Agents with the necessary promotional and marketing materials, including social media-ready advertising and scripts, to market Defendants’ credit repair services to English- and Spanish-speaking consumers. And Defendants routinely take prohibited advance fees from consumers for their credit repair services and do not make required disclosures regarding those services.

In addition, Defendants market an investment opportunity—encouraging 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). Defendants falsely claim that FES Agents will earn substantial income. Defendants often provide FES Agents with the necessary marketing materials, including social media-ready advertising and scripts, to recruit new agents. In reality, however, Defendants’ purported investment opportunity is an illegal pyramid scheme. Defendants’ compensation plan incentivizes recruiting new FES Agents over selling credit repair services, and few consumers ever realize the promised earnings.

See full filing below:

Specific counts of fraud in violation of the FTC Act include:

1. Misrepresentations regarding credit repair services;
2. Illegal pyramid;
3. Misrepresentations regarding investment opportunities;
4. Means and instrumentalities;
5. Violation of prohibition against charging advanced fees for credit repair services;
6. Failure to make required disclosures;
7. Failure to obtain signed contracts from consumers;
8. Failure to include required terms and conditions in contracts;
9. Failure to provide cancellation form;
10. Failure to provide consumers with copy of contract and other disclosures; and
11. Use of remotely created checks

This article is actually hard for me to write…

On one side I feel like Chicken Little after the sky fell because I warned people about FES and UWE after they got sued by the FTC in 2020… but on the other side I feel sorry the sky fell for those that have to scramble to rebuild a plane mid-air and take care of their families now that their income from this opportunity is gone.

One agent tried to recruit me today and didn’t even know that the enroll page on his website says Application Under Maintenance:

He saved it pretty well by saying they are “just being audited right now and they would be back up shortly”… But unfortunately, United Wealth Educators will eventually have to go to court to get their business back open. That could be several months of no pay for their agents in the field… I really hate to see this, it can happen to any business.

I had a conversation with one of my millionaire mentors about it and he told me that when he got started in direct sales almost 20 years ago, the same company that he had produced millions in waited until the last day of their national convention for them to come out on stage and say, today will be the last day the company will be paying it’s reps! LIKE WHAT!!??? They waited until people had spent money on plane tickets, hotels, babysitters, food, rentals all that for 2 days then BOOM, it was all over. I really hate it when companies do things like this… lie to their people until the end. At least be honest and let them make their own decisions.

I will say that there is a silver lining for any agents that want to continue with their financial services business. Our company hosts a variety of financial services and education including personal credit, business credit and also funding and access to personal loans… and our consultants get paid to offer these services!

Even if you did decide to recruit, you could potentially earn over $3,000 in your first 30 days just by helping 5 customers and 10 affiliates enroll! But the main point is your business does NOT have to end here. This is just a test and you will get past it!