Federal Trade Commission

10/21/2021 | Press release | Distributed by Public on 10/21/2021 09:51

Universal Guardian Acceptance, LLC

Universal Guardian Acceptance, LLC

Last Updated: October 21, 2021
Case Status:
Federal Trade Commission, Plaintiff, vs. Universal Guardian Acceptance, LLC, a limited liability company, and Universal Account Servicing, LLC, a limited liability company, Defendants.
FTC Matter/File Number:


Civil Action Number:


Federal Court:
Central District of California

Case Summary

The funder and servicer of the payment plans used by consumers to pay for expensive and often ineffective investment "trainings" from Online Trading Academy (OTA) will be required to offer debt forgiveness to consumers under a proposed settlement with the Federal Trade Commission.

Universal Guardian Acceptance, LLC (UGA) and Universal Account Servicing, LLC (UAS), have agreed to settle Federal Trade Commission charges that they facilitated consumers' payments to OTA, when they knew or should have known that OTA was deceiving consumers.