Credit exchange scam - stay away

These guys are bad news. Being sued by many outside parties. Attorney generals, former employees, you name it.

They have referred thousands of customers to bogus companies (Hess Kennedy & Allegro) and are not getting nailed for it. Google it. Many people have lost big money and are worse of now then they were before. How they are still in business I'll never figure out. If you dont believe me, see for yourself.

Here are some links:

http://www.hesskennedyreceiver.com/pdfs/hess_070109.pdf

http://bx.businessweek.com/consumer-debt/lawyer-tumbles-down-a-rat-hole-after-he-stole-15-million-from-hess-kennedy-receivership/5183164113772800611-c56da5cf3c158bfd1889529cfc46f50e/

http://www.debtconsolidationcare.com/settlement/thecreditexchange-company.html


****This ones a class action by former employees. If you worked for them jump on. Contact the court and you can be added and you'll get paid! FREE MONEY!!!

http://dockets.justia.com/docket/court-cacdce/case_no-8:2009cv00776/case_id-448520/

http://www.ripoffreport.com/multi-level-marketing/move-my-net-worth/move-my-net-worth-the-credit-e-a384a.htm

STAY AWAY FROM THIS COMPANY! BAD, BAD PEOPLE THAT WANT NOTHING BUT YOUR MONEY! THEY ARE GOING TO BE SHUT DOWN AT ANYTIME. YOU DONT WANT THESE PEOPLE WITH YOUR PERSONAL INFORMATION.

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I work for the Credit Exchange and I am a Promoter for the Move My Net Worth Movement. I am always 100% professional with my clients and I provide them a service that improves their financial and credit situations, for a cost they can afford. Everyone that I have gotten involved in the Move My Net Worth Movement are all family and friends and everybody is benefiting from their new money management system, credit score analyzer, do it yourself home loan modification preparation kit, and an incredible income opportunity, and more. It???s obvious this guy has it out for the owner and his company. Just some advice; you shouldn???t hold grudges. What ever happened between you two, you need to let it go man. I believe in these company???s missions and I know that they mean well. Now go ahead and hit me with some more depressing negativity. ;)

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okay.my bad.it just looked bad from my end.i understand and mia-culpa.

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I lost thousands of dollars when they (Sarafine) steered me to a company that went bankrupt taking all of the clients funds with them. Credit exchange assured me several times that I was in great hands. It is all a scam stay clear of them!!!


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Do not give them one penny. They are a fraudulent practice. Especially stay clear of the sincere sounding Serafine Eppler. She's a smooth talking liar who will fleece your savings.

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Steve spent all your money on renting lambos and monster trucks, hookers and crack in las vegas suites, and his big mansion he rents for $20k a month

all of this is true steve is a crackhead, stole your money and doesnt care. he also doesnt have a pot to piss in, so youll never see your money, he needs debt settlement himself

email steve at [email]svanderhoof@thecreditexchange.com[/email]

ask for your money back directly

Fact: I worked as a credit counselor for The Credit Exchange.

Fact: Steve forced all employees to go 10/99.

Fact: Steve then charged us $300 monthly for desks.

Fact: Steve also charged us $500 monthly for leads.

Fact: Steve also charged us $65/monthly for parking.

Fact: Steve also strong-armed us into joining Move My Net Worth -- his "sister company" pyramid scheme because those who did NOT join it would only receive a 20% commission for debt consolidation done WITHOUT the "Move My Net Worth" option instead of the 40% commission WITH the Move My Net Worth.

We had to pay $150 to join, $150 to promote and $50 per month. And he has the nerve to talk about "THE ENTIRE REASON" that he started this?

Fact: At the time that I joined MMNW, we were forced to sign a stupid contract. I admit that the contract has been removed (probably to avoid further legal problems) and most of us that had such contracts have gotten rid of the stupid pyramid membership.

Fact: In the few months that I was with the company I saw a turnover of more than 75% of the employees.

Fact: After I left the company, the majority of the assisting staff -- receptionists, verifying agents, etc. were all FIRED.

Hey, Steve, you're a coke-head asshole. I know the physical traits and acts of a person on coke and your head-jerking, twitching, bulge-eyed, constantly moving around, constantly sniffing routine is pretty damn obvious -- not to mention hearing it from people who have known your private lifestyle.

Were you a coke-head who doesn't stiff people -- including his own employees -- I'd probably leave it at that. But you're a coke-head asshole and a thief. And "THE ENTIRE REASON" you started your companies was not to help people, it was to drive around the expensive cars and have that whole luxury lifestyle; not to mention your little swing parties where you get to exchange your wife for others. Oh yeah, dude, I know about that too...you sick bastard. Can't wait to see you rot in prison, turning tricks for Big Bad Bubba showing you who's on top bunk.

To AnotherFormerEmployee: After reading your input above, I could not agree more...wow, you hit it right on the head. Very scarey and I worked there for 20 months and they sucked the life out of me and my other co-workers and we hardly made any money at all. I had to dig money out of my savings to survive!! We went go weeks without paychecks and they would threaten and intimidate us with "mortgage people and real estate people are shaking our doors for jobs and you are out of here if you do not perform to our demands." I just wonder when his wife Rayan is going to find out he is supposedly broke. I am sorry to hear he is into the swing parties; that is a disguisting thing to subject his wife to. She is very pretty and he is so goofy looking so this is not an even trade! He used to make us stand around every morning at 10am and listen to his bulls**t and talk about how rich he was. Steve also has the knack of bringing in employees that are beaten-down so that he can continue to feel above them and shove his fancy life-style down their throats. What he did to the poor clients in the debt programs he brought them into is just the tip of the iceberg. I think the employees he had ultimately were the ones that were cheated the most. I saw many fine people come through those doors that were over-qualified for that job and he would have his robot-managers work them like slaves. You were crucified if you took a sick day (not paid, of course) and then I found out that the managers get a "bonus" every month if there are no employees calling in sick!!! But I don't know if the Feds will ever catch Steve. There are some attorneys in OC that are working on a class action law suit for the employees that were cheated of wages and they have federal violations against Steve too regarding violations on wages/taxes. I am going to continue to check this website because I hope I can find out more of what is happening !!!!!

Unfortunately, I read about the scam with the Credit Exchange too late. I already paid The Credit Exchange over one thousand dollars of my hard earned money to get started settling my debt. They told me not to talk to my credit card companies when they called but to direct them to the Credit Exchange and they would talk to my creditors on my behalf concerning my debt. They never did talk to any of my creditors and now I'm deeper in debt then I was before due to 6 months worth of late fees. Now I'm considering bankruptcy! They suck and I'm going to be fighting to get my down payment back from them.

this is a personal message, my ex-husband is a personal friend of one of the head honchos of this scam place and they told him how to ruin my life just for the fun of it. I'd run from
these creeps just as fast as I can. i've known this woman for years and believe me they will do nothing to help you, they will take your money just like these posts say. they are now trying to ruin my life. i am going to hire a lawyer and if I can sue for every penny i can get out of them..just heard they laid off most of their work force....so I doubt if i will get anything...just beware!!

so beware!!!

steve is broke. TCE has 2 employees left. This place is done

Thank you all. I have hired an attorney

:confused:This place is a big scam. They thought it was so funny that they were pulling this over on me. Thank goodness I got everything stopped before they got my money. I dealt with someone by the name of khan.who was extremely rude and told me I didn't understand anything. He had me deal with some lady who also laughed when she found out how much I was going to have to pay. Then she said you have a really good day now and laughed again. How professional is that? Stay away from these people.

hotmamma i saw your other post,and can understand your confusion.this isn't the same this is a piece of crap debt settlement scam.not a piece of crap collection scam.totally different,but you are right on it being a scam.

Call Steve. Do not call him for anything financially related.

He is a thief, pure and simple. CAN'T BELIEVE he hasn't been sent to prison yet. :)