The Nonprofit Loophole in Credit Repair Law: How Big Is It Really?
Federal credit repair law exempts 501(c)(3) nonprofits. Here is what that carve-out actually does, and how to check any organization.
Financial Education Services
15 New Federal Lawsuits Filed Against Debt-Relief Companies Since May
15 federal lawsuits hit debt-relief and credit-repair companies since May. Here is who is on the docket and how to check any company first.
FTC Sending $10.9 Million to 443,000 Financial Education Services Victims
FTC is sending $10.9M in refund checks to 443,048 consumers harmed by Financial Education Services credit repair pyramid scheme. Here is how to verify yours.
The FTC Case Against Financial Education Services Is Still Open. Here Is the Full Story.
Quick Answer: The FTC case against Financial Education Services (FES) is still active. A $324 million judgment was entered in August 2024, but the case is not closed — the FTC is now sending $10.9 million in refund checks to 443,048 affected consumers, the founders are under active compliance monitoring, and a $312 million suspended …
Financial Education Services Fighting Back Against FTC Over Credit Repair Allegations
Quick Answer: Financial Education Services is vigorously defending against FTC allegations of operating a credit repair scam and pyramid scheme that allegedly defrauded hundreds of millions from consumers. The FTC claims additional evidence from business inspections and receiver reports strengthens their case for violations of federal consumer protection laws.The Federal Trade Commission sued Financial Education …
Credit Repair Scams: Myth vs Reality
Quick Answer: The FTC shut down Financial Education Services for operating a $213 million credit repair scam and pyramid scheme since 2015. The Michigan-based company charged up to $89 monthly for worthless services while falsely promising to remove negative credit information and increase scores by hundreds of points.Wide-ranging Operation Promises Easy Credit Fixes, But Provides …
FTC Sues Credit Repair Firms: Is It Legit?
Quick Answer: Yes, the FTC lawsuit against Financial Education Services and related entities is legitimate, as the agency shut down this credit repair pyramid scheme that defrauded consumers of over $213 million since 2015. The companies illegally charged advance fees while falsely promising to remove all negative items from credit reports and improve credit scores.On …
What Do You Think About Financial Education Services? – Marcela
Quick Answer: Financial Education Services appears to be a multilevel marketing scheme that makes questionable credit repair claims and may involve fraudulent practices. The company cannot legally charge advance fees for credit repair services, and removing accurate negative information from credit reports constitutes fraud.“Dear Steve,Credit card debt. Company says it can help:www.protectionthatpays.comHi Marcela,It was a …
