Debt Relief Industry Marketing

Hat Tip to Advantage CCCS for Some Funny Debt Monkey Commercials

A tipster (send in your tips here) sent in links to the following commercials by Advantage CCCS. Really funny stuff.


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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • http://www.bad-credit-advisor….

    ACH stands for automated clearing house, a network that electronically processes money and is the way payday loans debit the money from your account. All payday loan lender need to know is your bank routing number and your account number. To stop electronic withdrawals from your account you must revoke ACH debit authorization and wage assignment agreement from all payday lenders you borrow cash from. You have to do it quickly by sending certified letters with return receipt to each and every one of them. The point is most of the Internet payday loan lenders violate one or the other law in most if in not all states. They are either not licensed, or charge higher than allowed fees and interest or doing something else quite illegal. You have to know the rules. Check payday loan lending laws here for your state. Even if yours are in compliance which I doubt, you can start working on leaving payday loan nightmare behind.

    You will need also to close the account which you are revoking ACH authorization from. It is very important to check with your bank to be sure it will not force open your account if an ACH withdrawal comes through after you close it. Otherwise you may be looking for trouble as some banks have a policy allowing them to force open closed accounts if any ACH transactions go through within a certain time frame after the account is closed. So you may end up owing a your legal bank quite a bit of money. Bank would report you to ChexSystems, and as you can read here, it is rather bad. Check with your bank branch manager on their policy.

    If you can not close your account, talk to with the Branch Manager in person and request a hard debit block placed on your account immediately. Explain that you are revoking ACH debit authorizations from illegal payday loan lenders and know these lenders have been ignoring revocations, so it is vital to block any withdrawal attempts on your account.

    Here is general letter to revoke ACH debit authorization / wage assignment agreement. Modify it as you see fit.

    Date {MM/DD/YYYY}

    Your name
    Your address

    Attention {contact name if any}
    Payday loan lender name
    Payday loan lender address

    Re: {account number}

    After researching Internet payday loan laws in the State of _______, I have found that your Internet payday loan activity is actually illegal. I have also learned the following laws apply to payday loans in the State of _______ in general,

    {Your State Information payday loan laws (usually stating they legal/illegal and interest/fess caps)}

    I hereby revoke any and all ACH debit authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the {bank name} to protect my interest in this matter, per instructions from the _______ Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

    I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General Office. I also prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan.

    Due to the fact that Internet payday loan lenders must be licensed in the state of _______ to be a legal and binding contract, your company should NOT issue loans to _______ residents at all. I am requesting that you send me your license number which enables you to offer loans to _______ residents. (Alternatively, you can point out at any violation.)

    The legal amount that could have been charged to my loan is the principal amount, even if your Internet payday loan were legal anywhere in the U.S. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.

    I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the _______ Attorney General Office.

    I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.


    Your Name

    Better Business Bureau
    _______ Attorney General
    Federal Trade Commission

    Attach this quote from Electronic Funds Transfer Act in the end,

    907. Preauthorized transfers
    (a) A preauthorized electronic fund transfer from a consumer’s account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
    (b) In the case of preauthorized transfers from a consumer’s account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer.

    Missouri Title Loans offers payday loans as well

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