Payday Loan Relief that Works
Templates for Creditors
Templates to dispute debts with creditors and stop collectors from calling you.
Simple Monthly Payments
We charge simply monthly fees for our access to our platform. No hidden fees or gotchas.
Help and Support
Getting out of debt ain't easy, that's why we're here for you every step along the way.
"I would without hesitation recommend DebtHammer if you are drowning in debt. They are friendly and courteous and they work with you."
- Patricia D, Google Review
"They are really great to work with. Always there to help you with your issues. Very nice and polite. Take care of issues immediately. I recommend them to everyone."
- Casandra M, Google Review
"Reaching out to Debt Hammer was the best financial move I have ever made. My only regret is not finding them sooner. The entire process was quick and to the point."
Bernadett M, Google Review
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DebtHammer helps you escape the payday loan trap.
You're serious about getting out of payday debt
But no matter how hard you try, the debt seems to keep piling up. You're stuck like a hamster in a wheel.
You try and save, you work extra hours. But unexpected payments come up, and you're stuck with another payday loan.
It's called the 'payday loan trap' and it's common. The average interest rate is north of 400%. How can you be expected to pay that?
And crooked payday lenders aren't making things easy for you...
Payday lenders are the scum of the earth.
They couldn't care less about you. All they care about is money.
They'll blow up your phone with harassing calls, threatening all sorts of terrible things if you don't make your loan payments. They won't hesitate to lie to your face.
You never know if they're telling the truth or not, and the loans are so confusing nobody could be expected to make sense of them.
So what do you do?
How much further would you be?
If you could only get a little bit of help.
What if you could stop paying some of your loans? What if you it turns out some of your loans are invalid? What if you could just get a little help?
DebtHammer provides templates and tools for you to dispute validity of debts and stop harassing calls.
Here's how it works. First, we lay out all of your loans and identify which ones that might not be valid. This is not debt settlement, debt management, or credit counseling. We're simply providing knowledge on how to determine if your loans are valid.
We'll provide templates and instructions for you to stop paying these loans. And we will receive the angry collection calls on your behalf.
Got questions? We've got answers.
It's tough to find any reliable info on payday loans. And the payday lenders like it that way.
That's not us. Here are some of the common questions we get, and the straightforward, plain English answers.
Disclaimer: Nothing here or on this website should be considered legal or financial advice. Content is for educational purposes only.
What are payday loans and why are they bad?
A payday-loan is a short term with a high interest rate, usually due on someone's next paycheck. In theory, the loans are used to help someone get from one paycheck to another on a rare occassion.
However, in practice, it rarely works out this way.
Payday lenders intentionally make the terms of these short term loans difficult to comprehend, taking advantage of people when they are at their lowest. The annual percentage interest rate (APR) on payday loans is higher than 400% on average. Compare that to credit cards, which have interest rates of 30% at the high end.
The average borrower takes out $375. But the average borrower also ends up paying $520 in fees and interest charges, on top of the $375. That doesn't seem right, does it?
Because the interest adds up, many payday loan borrowers find themselves in what is known as the payday loan trap. The interest adds up faster than they can pay it, and the debt snowballs into an unmanageable amount.
Surprisingly, this type of unsecured debt with stringent repayment terms late fees, high annual percentage rates is still legal. The CFPB (Consumer Financial Protection bureau) has done a shit job at regulating this industry, which is why we're here to help.
What is payday loan consolidation?
Payday loan consolidation can mean a few things, depending on who you ask. Typically you'll read about two types of consolidation. A consolidation loan, and a consolidation program.
A debt consolidation loan is when you take out a personal loan that you use to pay off your lenders. A new loan to pay the old loans. You're responsible for using that money to pay off your lenders, then you have to pay the new lender back. Loan terms vary, some credit unions offer these, and you'll need a good credit score to qualify. But they're hard to find. We don't do these.
A debt consolidation program is a more loosely defined term that companies use. Most of these are debt settlement programs, where you stop paying your debts, wait for them to be sent to collections, and then negotiate a settlement.
Debthammer is neither of these. We simply provide a playbook for you to get out of loans that are not valid.
Does payday loan debt consolidation work?
Simply put, yes, consolidation works. We only take on clients we can help, and those that we do help save a boatload of money.
Of course, there are plenty of scammers peddling 'payday loan consolidation programs' or 'debt management plans' that are no more than payday lenders themselves. We won't name names but they know who they are. We're a legit payday loan consolidation company that hits your lender where it hurts.
How does it all work with DebtHammer?
It all starts with you telling us about all the loans you have. No need to be ashamed, we know your pain.
We'll help you get a full picture of your financial situation, and how much you can expect to pay in interest, fees, and principal if you continue on your current track.
Then, we'll identify which loans we can help with, and put together a package for you to dispute and stop paying that loan. We offer a monthly or twice monthly payment plan that's flexible for our services. We'll always check with you before we charge your account to avoid overdrafts, and we'll always work with you to make things work.
Then, going forward, we'll play hardball with your lenders for you. We'll get em out of your bank account. You don't have to talk to them anymore. We'll file complaints and do our best to reduce collection calls coming to your phone number. We've got your back.
Nothing we do gets reported to credit bureaus, so you won't see us on your credit report.
What we don't do:
- We don't provide legal or financial advice
- We don't try and negotiate for a settlement or concession
- We don't ask you to set aside money into a separate bank account
- We don't provide debt settlement services as defined by any state law
How is DebtHammer different than other payday loan relief options?
There are a lot of debt relief 'options' out there... if you want to call them that. But assume they're scams unless you can verify otherwise. Anybody can write some words on the internet after all.
That being said, there are a few options when it comes to debt management.
Credit Counselor: Someone who talks to you and gives you advice, and sometimes will help you with a debt settlement program. Credit counseling isn't a bad idea for most people if you can find someone for free, and they can help you decide what's best for you.
Debt Management Program: This is a broader term, usually when a credit counselor attempts to roll up your loans into one and make payments, hopefully at lower interest rates. You might consider us a debt management program, that's specialized in fighting off your payday loan company.
Debt Settlement Program: This is a specific type of program where companies will attempt to negotiate favorable repayment terms between you and your creditors. Usually, this applies more to credit cards.
So how are we different? We are none of the above. Debthammer simply provides tools, templates and technology to help you stop paying invalid debts.
Frequently Asked Questions
If the answer to any of these questions is 'yes', DebtHammer is for you
Do you feel like you're never going to get out of your loans?
Are your lenders blowing up your phone night and day?
Does your debt keep growing, even as you make your payments on time?
Would it feel incredible to tell your lender to F*** off?
I'm ready to say goodbye to PDL debt. What's next?
We'll take a look at all your loans
For step one of our payday loan help program, we'll lay out all your loans to get a picture of where you stand. We'll read through all the confusing language and jargon to get a complete assessment. There are certain loans we can help with, and others that we can't - we'll be completely honest which we can and can't help with.
To be clear: we do not negotiate or settle debts. We are not a debt settlement company, debt negotiators, or a debt relief fund. We simply help you find invalid debts, show you the process to get out of them and represent you to lenders.
We'll put together a plan that works for you
We'll work with you to put together a simple payment plan that works for you. It'll be as simple as making microwaveable mac n cheese. The same amount, every time. No hidden fees, confusing jargon, or other gotchas you need to worry about. Having a tough month and can't pay? No sweat, we'll accommodate you.
To be clear, you're paying for our services - these payments do not go to the lenders. Remember, we are not negotiators or debt settlers. We are simply giving you the tools to stop paying invalid debts.
Let's take back control of your bank account
Ready to take back control of your bank account and get back to living your life? Let's tell your lender to back the f*** off together.