I’ve had lots of comments on my thread here about United First Financial and Dave Ramsey. Dave is an absolute expert on credit issues, and he hates UFF. He says it’s a complete waste of money. (Of course, I agree.)
As usual, he’s accused of not knowing what he’s talking about because he hasn’t been to one of the UFF cult meetings. The fact is that he’s very savvy about this. Continue reading
“The UFF program is the ONLY program on the market with these exact features and benefits.”
Of course it is. If it could be compared to anything else, consumers would quickly see that it’s not all it’s cracked up to be. It needs to be some secret, special, super-duper, can’t get it anywhere else program or no one will pay the outrageous fee of $3,500 for it.
“We have a 97.6% retention rate.” Continue reading
Over the last few weeks, I’ve been researching and reporting on the United First Financial Money Merge Account. UFF’s “agents” are poorly trained multi-level marketing pawns who spout company propaganda about how the MMA is the greatest thing since sliced bread.
I was recently directed for United First Financial’s FAQ page. I had seen this page before, but looked at it today with an entirely different perspective. With my research on the product nearly complete, I am able to see a number of distortions and deceptions in this page.
And the company can’t claim (like many MLMs do) that they’re a victim of independent contractors who are misrepresenting things. These are corporate’s own representations about what the product is and does.
Here’s a the UFF story paired with simple facts: Continue reading
I’ve outlined all the reasons why United First Financial’s Money Merge Account is a scam. Although it technically offers something to the buyer, it’s not worth anywhere near the $3,500 fee that’s charged for it. Consumers can pay off their mortgages faster and for free without this program.
But if you need another reason why the UFF program sucks, I’ve found it. The basic concept of the UFF MMA is a money shuffle using your mortgage and a home equity line of credit (HELOC)… which they call an ALOC. You are led to believe that you’re achieving huge mortgage savings because the UFF computer program has a secret algorithm that helps you save money. The real reason you’re saving money is that you’re prepaying your mortgage, saving you interest payments down the road. Continue reading
If you owed a bank money under a loan that had an interest rate of 6%… And I came along and said to you “Here, take this loan with an interest rate of 8% and use the money to pay off the loan you already have…”
What would you say?
Anyone with remedial math skills would say NO WAY! Continue reading
I found this interesting description of the deception involved in selling the United First Financial program to unsuspecting consumers for $3,500: Continue reading
I have had a ton of fun researching the United First Financial “program” being sold for $3,500 by multi-level marketing people. The more I read, the more it’s clear that this is a bad way to spend $3,500.
Apparently, telling consumers that it was based on the “Australian banking system” is intended to give it some credibility. That somehow, since “it” is used in a land far away and this awesome company UFF is offering it to us in the United States is supposed to make it better.
Wrong! Continue reading
In researching United First Financial and the Money Merge Account, there weren’t many sources of information on the compensation structure for agents. What I do know is this: The official corporate website does not mention “the opportunity” or “business opportunity,” as most other multi-level marketing companies do. I came to the conclusion that the company doesn’t want to be labeled as a MLM or potential pyramid scheme.
The logic is obvious: Consumers are becoming more educated about the pitfalls of MLM. They realize that because the company has to pay so many levels in the food chain of an MLM, the actual seller of a product receives relatively low compensation. If the company wasn’t worried about building and paying the pyramid, there would be far more money to reward and compensate the actual seller of the product. Continue reading
I promise this will be my last post for today on United First Financial. The more research I do, the more I think this company’s program sucks. Those who promote it suck. And those who participate… they’re suckers.
So here’s how my plan works, and I’m giving you this for free! I’m using a $200,000 mortgage with an 6.5% interest rate for 30 years.
First, take the $3,500 you were going to pay to United First Financial, and apply it to the principal of your mortgage immediately. This saves you $19,714 over the life of your mortgage, and ends your payments 19 months early. Continue reading
In my book, Dave Ramsey is hands down one of the best and most credible experts on getting out of debt. While I disagree with him on a few technicalities, we’re on the same page for most of what he preaches. The guy talks sense.
So when United First Financial representatives scammers began emailing me, calling me ignorant, stupid, and uneducated because I don’t believe in their product, I decided to research what my beloved Dave Ramsey has to say. Continue reading