The Credit Exchange – Former Employee Speaks Out

I was sent the following email below to click here from a former employee of The Credit Exchange.

The opinion and statements posted below are those of the former employee and I welcome The Credit Exchange and Steve Vanderhoof to respond to them.

“Hi Steve – I saw your website and decided I wanted to also submit some information to you about The Credit Exchange. I was an employee there from May 2007 to January 2009 and was terminated because I challenged their pay-practices to the employees.

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We were constantly having commission changes and they were breaking many, many labor laws. We would go weeks without paychecks (no draw) which is against the law when you are NOT on a 1099. It makes sense Steve Vanderhoof is trying to do a 1099 on his employees now. [See this article for more on this.]

Everything bad I have seen published about The Credit Exchange is true. I cannot believe the Attorney General of California has not shut them down. We were ordered on a mandatory twice-a-month-basis to work half days on Saturdays and that was not compensated, not hourly or overtime. This is just a sample of what was going on.

I honestly look back now and wonder who were the biggest victims: the actual clients they enrolled in the programs or the employees!

I had to withdraw monies out of my Beneficiary IRA over the 20-month period of my employment at The Credit Exchange just to supplement my income when I would go weeks without paychecks. The employees were subjected to a very demanding and intimidating environment and you were reprimanded for even taking a lunch hour, much less taking off uncompensated sick time. I could go on and on.

I was finally terminated when they screened my emails I sent to my girlfriend from work complaining about making less and less money because Steve Vanderhoof basically told us he had mortgage and real estate people begging for jobs there because they were unemployed and if we didn’t adhere to his demands, we were history.

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