TheCreditExchange.com and Johnson Law Group

Ok, bumping this. I forgot to mention in my first post that the whole reason I have doubts is that after I finished talking with the woman from TheCreditExchange is that I recieved another call from a different company shortly after hers. If I'm supposed to be expecting to be contacted by a counselor associated with the site, then who was the second person? One or maybe both of these individuals is not associated with the site and called me because they saw I am looking for a debt solution. I juist want some confirmation.

I think The Credit Exchange was accurate/correct in their practice here. You filled out a form online, and they contacted you. It happened to me too, and, YES, they call almost immediately - talk about GREAT customer service!!!

I got suspicious after the 4th call today, when he
started asking for routing numbers, acct numbers. I
told him I had to check him out first.

Bettty, there are a few other threads about The Credit Exchange here, especially where Steve Vanderhoof ignores questions about what he did with the $13 million or so that he got from Hess Kennedy, which was shut down last year. Also The Credit Exchange has referred many many people to Allegro Law, which the Alabama Attorney General shut down less than a month ago for ripping off 15,000 people.

Just a suggestion, but it could be that there are waaaay better things to do with your money than to give it to The Credit Exchange.

DO NOT GO WITH THE CREDIT EXCHANGE. They have been involved in multiple legal actions. Research Hess Kennedy or Allegro Law. The credit exchange refers consumers to the debt settlement company that pays them the most money for new clients, which means they need to charge you more fees than most companies, you pay more,feel scammed and then some government agency comes in and shuts down the law group and the credit exchange finds a new one to slam people in to.

Dont fall for their BS.

and i went thru the process to set up a plan and now im Just reading these reviews and i'm scared out of my life. im already in a bind with money and if this doesn't work my life is going to get tougher. how do i go about canceling so they don't take my hard earned money that i cannot spare for something possibly fraudulent??

Call your bank and close your current bank account and get a new one so they cant debit you

Check the BBB report for the credit exchange: F rating.
Check the BBB report for the Johnson Law Group they are currently working with: F rating.
This site, among many others are "phishing" sites.
DO NOT FALL FOR THIS SCAM. Call your credit card companies, they will generally work with you, especially if you're telling them that you're having a difficult time paying and have been considering bankruptcy. If that doesn't work, find a local, SMALL law firm, and ask them what they would recommend you do.

PLEASE DO NOT FALL FOR ANYMORE INTERNET SCAMS. ALWAYS... ALWAYS... ALWAYS.. check with the BBB before making an online transaction with any company you don't know about.

Checkout this thread if you need further convincing:
http://www.ripoffreport.com/Credit-Debt-Services/The-Credit-Exchange/the-credit-exchange-the-credit-7942j.htm#7942j

I am in the process of setting up my settlement account with this law group and now I'm frightened. They made it sound so perfect and now I'm left feeling like a fool and no resolution to my fiance status due to unemployment. Is there any good debt considation companies out their that anyone can recommend that are honestly out to help people?

Marie Smith

Will you tell us your state? So it will be easy for us to tell you exact and trustworthy BBB acrediated loan settlement company.

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The credit exchange is calling me a bunch (4 agents in as many days) claiming that for 874.95 they setup a "interest rate reduction program" and that in 4.6 years I can be paid off with the 4 creditors I have. I have called wells fargo (6000ish owed, 110 a month) asking for an interest rate reduction and they flat refuse stating they have no "special interest rate programs at this time." Chase (about 6000ish owed, 140 a month) has me on the "hardship" program until april with an APR of 12.0% (not bad, but what happens in april is anyones guess) and I have an unsecured line that is about 10600 @ 22.95% w/253 dollars payment and another loan of about [EMAIL="9200@18.95%"]9200@18.95%[/EMAIL] w/272 payment.

luckily I am still current on everything, but I know that making minimums will take years to get these paid off. I am stuck where I am probably never going to be able to pay extra to get these paid off sooner, so I am looking for anything that might work. I really do not want to do a debt settlement since it will destroy my barely modest 675 credit score, so what do I do?

Whatever you do, DON'T SIGN UP FOR THE CREDIT EXCHANGE.

They will take your money and keep it.

They will not pay your creditors more than a pittance, if anything.

They will not negotiate, lower your interest rate, lower your principal balance, or help you in any way, shape, form, or manner.

If you still think you should go with them, you will end up far worse off and you will wish to God you had never heard of The Credit Exchange and could get your money back.

Just a suggestion.

Thanks for all the posts. I was called today, so I will cancel bank account tomorrow and I have emailed The Credit Exchange Agent to cancel the application. I was up front stated I didn't know if I wanted to even consider this and I had to speak with my husband. The Agent told me I could cancel it, but went on with everything like I was approved. My Dad always said "if it's too good to be true, it is"! Wish I'd listened, now it's a mess. Does anyone know if the verbal verfication is binding? Thanks again for taking the time to post and to Rip Off for telling the truth behine the cons!

I HAVE BEEN GOING THROUGH THE SAME but have already started pay to the law firm WHAT A MISTAKE just went to a website called ripoff reports and the johnson law group is in the and also stories off the money that they have taken from people going to the bank now to put a stop so they cannot take any more money from me GOOD LUCK TO ALL!!!!!

Steve Vanderhoof is a crook. An equal opportunity crook who takes advantage of both his employees as well as the public, so if you have not been lucky enough to be personaly ripped off by him and or his debt consolidation company " The Credit Exchange " let not your heart be troubled there is still time. Just check out his new shameless venture/scam **************************
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Link deleted, per site ToS. - Uncle Wulf

The credit exchange and johnson law group is a scam! Don't give them any of your information.
We never gave them any authorization and infact gave them written documentation that we would not be participating in their program. Some how they illegally withdrew over $1500.00 from my checking account.

Steve Vanderhoof is a ***********
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That's enough name calling, OK? - Uncle Wulf

As of yesterday, I went along and agreed. I also received a second call from someone that did not know I had made the first decision. I questioned why I was giving personal information that was my life history over the phone. After sleeping on it, and reading the reviews I am scared out of my mind. Today, is a holiday and I will try to get out of and contact all of my creditors(6). I dont need this at this point of my life. Help!

I have dealt with this company. They do illegal acts. If you decide with one program then decide to check out the other the first will give the second your information and rob your bank account. Debt wave tells you that there is two programs and will forward you from one to the other without giving you a number. They will also tell you they are two different organizations when it is really just one. They have cost me much more money troubles than I was in to begin with.

By the way, I called the credit card companies that I consolidated and now have been scammed and they told me to always deal with them and not another agency. Most will work with you. They want you to avoid filing bankruptsy so that they will get paid. Filing bankruptsy clears your debt but ruins your credit for 10 yrs.

People, use your brain. . . The Credit Exchange is an advertising company. They do not perform the service. . . they cannot be held responsible for the service if they do not perform it. . that is like blaming the television network if you buy a sham wow and it sucks. . .

Hello all, we are a sad bunch of people that everyone seems to take advantage of. I also agreed to let this firm handle my credit. They have been taking $164.49 out of my account for quite sometime, but I did not know they were scammers. They The Johnson Law Group gave my account over to The Credit Exchange. I should have questioned it! Now I must get out of this contract by changing my bank and accounts. Thank you all for your help!

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SCAM! The Johnson Law Group hides behind 2 other companies. They play a shell game to confuse the consumer. Their company names are Coastal Credit Solutions and Debtwave. The Johnson Law Group is not accredited with the BBB. They LOST their accreditation. They have an F rating from the BBB. So they formed 2 other company names to hide behind. Coastal will refer you to Debtwave and vice versa. They'll explain the terms before pawning your account off to their affiliate. But they don't explain it correctly and it serves to confuse you. They claim to be "non-profit" when they take a full months payment for themselves on top of their "monthly fee". And you will not get any of your money back if you decide to quit the program.

I wonder how many people got scammed to pay for Steves wedding
http://www.facebook.com/profile.php?id=1504384247#/profile.php?v=photos&id=1504384247

Looks mighty expensive.

i decide to try get out debt and went on line try and get help someone ffrom the firm law called me and got me involve and now im afraid by reading this i might be in big trouble

What about the Johnson Law Group-Debt Remedy Co- has anyone dealt with them - and if so what is the feedback-
They seemed to have a good plan-but?????????????

Went through process of giving credit card account numbers and balances with credit exchange, but haven't gone any further. I'm I safe in saying that they have no way of ripping me off? or should I call all my credit card companies and inform them to close my accounts? I gave no bank account numbers or routing numbers.

I am kinda scared after reading this but so far everything has worked out, I mean I had a former coworker that went thru them and it was working fine. I am still kinda scared thou.

i have been dealing with johnson & johnson for 3 months now. I only dealt with the credit exchange per say 15 min the first day I called. They took down some information & had j & j give me a call. Yes, a second company did call me not long after I got off the phone with j&j, but I told them I had already signed up with someone. I think the credit exchange works with different law firms. I was given a total amount that I would pay within the 3 yrs on the program & what my monthly payments would be.; How the money that I send in will be put into an escrow for me until enough is there to start settling with the creditors that I owe. So far so good.

I was currently a client with them and withdrew from the program after one payment. I had some man call me about 4 times to say that if I did not call him back that they would continue to withdraw money from my account. Everytime I called him right back, I got his voicemail. I have been in contact with someone at Credit Exchange to see about getting my money back and to no avail, have not heard a word. This was the worst decision I ever made and I am glad that I have withdrawn from the program. Now I have to pay $25 to my bank to make sure they do not with draw funds.

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I talk to you today , and , canceled my account with you ,you told me you needed my client#309917,,todays is 2/17/10,,,,,,,last four s.s.#2702,,,,,,name ,,David Parham ,,,,,,,,,,,,,,,(why),,my bills have just got higher,,late charges ,,and more,,,,thank you for your help

[COLOR=black]Why would a moron try to contact a company through an unrelated forum?[/COLOR]
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[COLOR=black]Are people that dumb or more shills from other retarded companies?[/COLOR]

credit exchange and johnson law group
beware of these companies! do your research!

If you are current on your credit cards and you don't want to ruin your credit, I suggest looking for a reputable company that can facilitate credit counseling for you. Credit counseling differs from debt settlement because you are arranging to pay back the full amount to the creditors but at a lower interest. (Usually 0-9% - which they have already established with the credit counseling agency).
With the lowered interest rate, more of your payment is going to principal and you usually finish paying off your creditors in 3-4.5 years.

I know 3 people that have used the credit exchange. 2 of them went with the interest rate reduction and 1 the settlement program. 2 of them finished and are now debt free and the other has a while to go still. none of them had any problems in the programs and it was just as the agents at the credit exchange had told them. I looked up the BBB reports and they are being investigated themselves. Go to BBBroundup and it tells all about their criteria for settlement companies. If you don't pay them yearly you get a bad grade. I looked up the credit exchange and they have put almost 90,000 people into debt management programs and less than 150 complained. that's 89,850 satisfied clients. You should be careful who you listen to. look up the information for yourself. How many people out there have gone with a company based on a BBB rating that was paid for? people have been going to A and B rated companies that really would be D or F if they didn't pay the annual fee. Research how long, how many, how much and decide for yourself. i hope everyone has a blessed day.

Don't do it. You will only lose the money you pay upfront. You will not be able to save money to settle any account. You are better off declaring bankruptcy. After you finish paying the 18% of your debt and you start paying the monthly maintenance fee, the Johnson Law Group will just sit back, do nothing and just smile at the scam they just pulled. When you request a refund your letters are just ignored. This whole debt settlement business seems like the thing to do but the reality is that if you are in financial trouble you will most probably not be able to save any money to settle accounts. I paid $18,000 over 18 moths on $100,000 credit card debts. I could never save any money. There are always unexpected things that come up. (Mechanics bill, new washer, school expenses, etc.). I ended up going for Chapter 7 bankruptcy and I just wish I would have done that to begin with.












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i am with the credit exchange idon't really know what to do. they also put me with the johnson law group are the safe i really don't know help

I've been with them (Johnson Law Group/Credit Exchange) for over a year now,and have settled three credit cards. I'm almost done with the program. Sure, my credit is taking a hit, but I'm getting out of debt, and will be debt free sooner than later. i'm happy with my choice of working with them.

trust me i have paid into credit exchange johnson law group for year half almost 4500.00 and they paid one bill for me that was 398.00 that it i got refund 1300.0 that it i wasted all this money i should have just filed bankruptcy it is not worth it im broke and now still have all these bill

hi i sighned up at the credit exchange who got me involved with the johnson law group to help me sttle my debts well i have hired a local lawyer to fille chapter 7 bankruptcy for me i no longer need the credit excange or johnson lawgroup to help me how can i get the money back from my escrow account?

I would call 866-833-6398 they don't take any upfront fees and you pay the creditor directly and they only charge a small fee after the settlement letter is sent directly from the creditor or it's agent.

I have been with them for about a year (in November) and have had no problems. I also did not do the debt settlement, I did the interest reduction. Debt settlement will make ur credit go down & have late payments, etc. I made sure there was no escrow cuz I'd heard those kinds of debt settlements mess with your credit. They take a set amount every month and always pay my credit cards. U do have to pay an upfront amount to get started, then it's been fine ever since then.

I am with the Johnson Law group for about a year, and I have not had one creditor paid off. I am still recieving bills in the mail, and my balances are going up and not down. Johnson Law Group will ruin your credit. DO NOT make the same mistake. I currently have 2500 in escrow with them and one credit card has 3000 balance. I am pretty sure any credit card company would accept 2500 for a 3000 debt. The credit card companies will not talk to you until you rescind the power of attorney. I have no idea where to go from here. My credit is going down the gutter fast!!!! If anyone has any suggestion, I would love to hear them.

02/09/2011

You have to remember that the Credit Exchange and the J & J Law Group are two different entities! The Credit Exchange are just using their best guess at settlements, etc.; Quite the the opposite from the Law Group; the Law Group deals in actual dollars and the best deals/settlements that they are offered and negotiate! Regardless, so far I'm highly satisfied, and I even received a personal phone call from Steven Vanderhoof around a complaint that I had in regards to a rude employee, something that you wouldn't get from other CEO's!

Sincerely, Still evaluating:rolleyes:

Dear Thea, 02/09/2011

Obviously I didn't read your contract or know your situation, but my first $300 went to commission and paperwork, then X amount of each monthly payment goes toward their fee for their services, then stops. This is when you'll see your negotiating balance begin to build! This has been my experience, but of course I'm no financial expert, otherwise I wouldn't have gotten in over my head to start! :(

Sincerely, Still evaluating :idea:

Do not go with the Johnson law group. They don't do anything but take your money . You will think you have entered into the gates of hell .You will get a court summons for each c c account you have .You WILL have to go to civil court for each case ,you are on your own .They won't return your phone calls , they won't give you advice . The court will grant a lien to the credit card companies on your bank account , your salery , or property. The Johnson Law group smiles all the way to the bank . Don't do it !! Its A scam !!!