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Understanding how it works with DebtHammer

In a nutshell

DebtHammer helps consumers get unlicensed creditors out of their bank accounts and out of their lives.

Payday loan debt is unlike other types of debt because the payments can quickly eat up your entire paycheck. 70% of online lenders aren’t licensed to lend in the states where they lend, and fraudulent debt collectors run rampant. This calls for a different strategy – insert DebtHammer.


We provide tools that prepare, manage, and send documents for people who have borrowed from unlicensed lenders and then help guide them through the process of stopping predatory debt collectors throughout the consumer credit cycle.


Our customers make the decisions, we present the options.

The DebtHammer Process:

1. You tell us which loans you have

We review the list of loans and corresponding circumstances that you provide to us.

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2. We help you figure out which lenders are unlicensed

Our database of unlicensed lenders is constantly updated, so you can be confident in determining which payday lenders are following the rules and which ones are the predators.

Unlicensed lender database →

3. We help you prepare, manage, and send your documents

You fill out our questionnaire, and we provide you with the proper documentation you need to send to each lender. After reviewing the documents we prepare for you, you simply press send, and your documents are automatically sent to your lenders.

More about your consumer rights →

4. We help you keep the lenders out of your bank account

Unlicensed lenders consistently abuse their rights to debit borrowers' bank accounts. Asking them to stop sometimes isn’t enough. We’ll help you file the proper documents with your bank and hold your hand throughout the dispute process anytime an unauthorized transaction occurs.

More about unauthorized transactions →

5. You leverage our platform to fight off the predatory lenders

Payday loan debt is unlike most other types of unsecured debts. There are many creditors to keep track of. It’s important to stay organized and have everything you need in one place. We charge a flat-rate fee for each document bundle, including phone and chat support and everything else you need to get these predators out of your life.

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Why Use DebtHammer?

DebtHammer gives you your life back

We’ve helped thousands of customers regain control of their bank accounts and stop the debt collection process on predatory payday loans. Our customers cite our world-class customer service and expertise in the industry as primary reasons for their satisfaction with our platform.

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How is DebtHammer different?

Debt negotiators and settlers traditionally only get paid when they settle. So, they often treat licensed and unlicensed lenders the same – they are not the same. Furthermore, many of our customers simply do not qualify for debt settlement programs because they do not want the hassle of dealing with so many creditors for “small” dollar amounts that accrue interest as high as 849.99% APR – that’s 2.3287% interest compounded daily. Even when our customers do qualify, these numbers break traditional debt settlement models and are often still far too expensive for our customers to afford.

In most states, if a creditor engages in lending money without a proper license, they may actually owe YOU money. These unlicensed lenders prey on desperate borrowers who do not have the time, knowledge, or resources to do this critical preliminary research before accepting a loan. Well, we do, and now we’ve passed these tools on to you.

We at DebtHammer envision a day where unlicensed lending is no longer an appealing business model because you will have to deal with the customers who we have empowered to escape the predatory payday lending trap.

We’re a small team with big ambitions

We didn’t take millions of dollars in VC funding, so coincidentally enough, DebtHammer is not in debt. We’re not at the mercy of anyone pressuring us to squeeze profits out of consumers. We’ve built a sustainable business model that truly helps people, and we’re not stopping here.

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We provide a world-class customer experience

We get it. Being in payday loan debt is embarrassing, but there’s no need to be ashamed. We understand your pain. (Some of us have been there ourselves.) We offer judgment-free customer service and flexible billing options for 100% of our customers.

No hidden fees

No hidden fees. No penalties. No gotchas. We charge a flat-rate fee of $500 per lender enrolled using our platform. This includes phone/chat support, access to our platform, and every templated document you need to fight back against unlicensed predatory payday lenders.

Satisfaction guarantee

If it doesn’t help people, we don’t do it. Period. DebtHammer’s fees are subject to a 100% satisfaction guarantee – if you aren’t completely satisfied with our service, then you don’t have to pay DebtHammer anything. To submit a request for DebtHammer to waive and release your customer account, please email [email protected]

DebtHammer reviews →

Here’s what our customers are saying:

"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



Did you sign a Voluntary Wage Assignment?

We got you covered. A common tactic shady lenders employ to secure their payday loans is inserting a Voluntary Wage Assignment clause about three-quarters of the way down the page in their loan agreements. Frequently, they push these documents directly to your employer without any notice. We have templates for your lender and employer to stop Voluntary Wage Assignments in their tracks.

When predatory lenders take advantage of consumers, DebtHammer provides easy access to DIY debt relief to regain control of their bank accounts and privacy.

Disclosure and Election of Services

You are enrolling in a self-help debt relief program after voluntarily seeking the assistance of DebtHammer. The goal you have set is to remove unlicensed creditors from your bank account, described as Enrolled Lenders. Furthermore, you have set out to cease communications and harassment from debt collectors who may attempt to collect on the debt(s) distributed by the Enrolled Lenders. No specific results can be predicted or guaranteed.

DebtHammer does not make payments that you owe to your creditors at any time, for any reason. You have decided to enroll in a self-help debt relief program because of a “hardship” making you unable to pay the full balance of your debt(s) distributed by the Enrolled Lenders. If you do not make required minimum payments to your creditors, you may be breaking the terms of your agreements with them, and your actions will likely be reported to consumer reporting agencies as late, delinquent, charged-off, or past due balances. This will likely have an adverse effect on your credit report and credit score. Your creditor may also raise the interest rate on your account and impose other penalties. Your account balance may continue to grow as your creditor adds accrued interest, late fees, over-limit fees, and penalties. Your balance may continue to grow until a settlement is reached with your creditor; and if negotiations are unsuccessful, you could be called upon to pay the entire balance. After settlement of a debt, your creditor may comment that the account was “settled for less than the full amount” on your credit report. Your creditor may comment that the account was "charged off" on your credit report if the debt is charged-off or discharged.

A debt relief or settlement program of any kind may have an adverse effect on your credit report and credit score.

When your creditor agrees to discharge or settle a debt, a savings of $600 or more off what you owed may be reported by your creditor to the IRS as Discharge of Indebtedness Income. You may wish to consult your tax advisor to determine whether your individual circumstances may permit you to exclude any such Discharge of Indebtedness Income from your reportable income due to insolvency. For more information on tax ramifications to you personally, you may also wish to consult a CPA or Tax Attorney and to refer to the IRS website www.irs.gov IRS Publication 908-“Bankruptcy Tax Guide” and IRS Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness available on the IRS website.

You acknowledge that DebtHammer is not a law firm and cannot provide legal advice.

DebtHammer has not instructed you to stop paying your creditors. The choice to stop paying creditors is solely and completely your decision. DebtHammer cannot prevent a creditor from suing you over a debt you owe. You shall not under any circumstances change your billing address to DebtHammer's address.

Credit Counseling offers services that will allow you to work with a certified credit counselor to devise a plan that is tailored to your specific needs and goals. Credit counseling agencies often provide services for free and will help to educate you about how to avoid financial problems in the future by offering debt management classes or seminars. They do not erase your debt. Instead, they work with you to budget money so that you can pay off the debt oftentimes by debt consolidation. Collections by your creditors may continue while using a credit counselor, and most plans require you to pay your entire debt balance over the life of the plan. Consumer credit counseling agencies are required to advise you that they are compensated by the creditors based on the amount of debt they are able to have you pay.

Bankruptcy will usually discharge your unsecured debt and your creditors are not permitted to contact you once you have filed with the court. There are two kinds of bankruptcy; Chapter 13 bankruptcy where you are generally able to keep property that is mortgaged such as your house or car and are expected to repay debts in three to five years and Chapter 7 bankruptcy where you must give up all non-exempt property and assets that you own in exchange for a discharge of most debt. Bankruptcy may be appropriate if you have pending foreclosures, collection litigation or wage garnishments; however, you will generally be unable to establish credit for up to ten years. In 2005, the bankruptcy law was changed to make it more difficult for some consumers to file Chapter 7 bankruptcy based on a financial means test and credit counseling requirements that may require repayment of some of your debt.

Debt Negotiation is a process where a law firm (not DebtHammer), based on your specific circumstances, develops a plan to manage your debt resolution with your creditors. In general terms, it is a process of negotiating with your creditors for a lower balance/forgiveness of debt, a reduced interest rate, a reduced monthly payment or other restructuring alternatives. To be successful in debt negotiation, you need to have sufficient cash flow to meet your living expenses each month and provide some funds towards resolution of your debt.

Please contact us for further explanation if you have any questions regarding the above options. If you are ready to proceed, please begin the enrollment process by filling out one of our contact forms on our website.

By enrolling with DebtHammer, you have acknowledged that you have reviewed all debt resolution options available to you including bankruptcy and consumer credit counseling and elect to pursue self-help debt relief services with DebtHammer, subject to your ability to request other alternatives, based on changes in your financial circumstances.

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