Account Connect Limited (ACL) developed the AdvancePay™ Program to address the short-term cash flow needs of Debt Relief providers aiding consumer with Student Loan restructuring programs. Working in conjunction with Reliant Account Management (RAM), a compliant, third-party Payment Processing company serving the Debt Relief Industry, ACL helps companies focusing on Student Loan debt Relief Accelerate cash flow and become compliant under the Revised Telemarketing Sales Rule.
The Advance Pay Program works by advancing 2/3 of the anticipated contract revenue to the Student Loan Debt Relief provider directly from ACL shortly after contract enrollment. The consumer then makes their usual deposits into their special purpose trust account they maintain and control at Reliant Account Management (RAM). Upon the fulfillment of the contract terms and the completion of services, the funds paid through the AdvancePay™ Program, plus a small interest charge, are repaid to ACL from the proceeds held in the consumer’s special purpose trust account.