FTC says credit repair operation 'FES / United Wealth Services' sold sham services and a pyramid scheme

Via the U.S. Federal Trade Commission ( ftc.gov ): FTC says credit repair company sold sham services and a pyramid scheme (FTC says: It’s illegal for a credit repair company to charge people before fully performing the services it promises. ) "In a newly filed lawsuit, the FTC says that FES, which also does business as United Wealth Services, has bilked people out of more than $213 million with a scheme that combines charging people for worthless credit repair services and recruiting them to sell the same bogus services to others. FES claims it can boost people’s credit scores by hundreds of points quickly by permanently removing negative information from their credit reports and adding positive information. But the FTC says FES’s services accomplish little or nothing. For example, FES sends clients form letters to send to credit bureaus to dispute negative items, but the letters don’t include supporting documents so they rarely result in removal of the items, the FTC says." And here is an interesting thread on Reddit about this company, started on August 23, 2021, 10 months ago as of this posting date: (Click the Reddit icon/logo, or 'Snoo - the Reddit Alien mascot', in the upper right to view the entire thread on Reddit.) https://www.reddit.com/r/antiMLM/comments/pa1a2b/does_anybody_know_why_financial_education/ [Administrator note: We started Credit Rebels to provide an absolutely free source of highly detailed, exclusive information on how to improve credit scores. There is nothing special about so-called 'Credit Repair' companies, and there is very likely nothing they know that we haven't already published here. (Plus much more they very likely have no clue about!) We are not in any way affiliated with any so-called 'credit repair organization', especially one that shows up in search results as 'FreedomCreditRebels'. That domain name was registered around 5 months after we registered ours in June 2021. (That site still has default 'customer testimonials' on it that use stock images for the customer photos!) ]