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Idaho MCA Defense Lawyers Business Debt Relief

February 24, 20248 min read

IF YOU’RE LOOKING FOR A BUSINESS DEBT SETTLEMENT COMPANY, VISIT DELANCEY STREET. CLICK HERE NOW.

 

Idaho MCA Defense Lawyers Business Debt Relief

Small business owners in Idaho struggling with overwhelming debt have options for finding relief. Our team at Delancey Street helps business owners settle or restructure debt into more manageable payments. With an easy process and dedicated expert assigned to each client, we can help you develop a healthier relationship with money.

How We Help With Business Debt

Our services aim to provide lasting financial freedom for small business owners bogged down by debt. This includes:

  • Debt settlement – We negotiate with creditors to reduce total debt owed. This provides immediate financial relief.
  • Debt restructuring – We work with creditors to restructure terms, reducing monthly payments to affordable levels. This provides ongoing financial relief.
  • Ongoing money management – We provide financial consulting to help clients change behaviors and forge healthy financial habits. This prevents future debt accumulation.

With customized solutions for each unique situation, our business debt relief services aim to lift the debt burden so clients can get back to profitability.

See also  Alaska MCA Defense Lawyers Business Debt Relief

Legal Defenses Against MCA Funders

Merchant cash advance (MCA) loans provide quick capital but often at a steep long-term cost. Their high rates and aggressive collection tactics push many small businesses into financial distress. However, certain legal defenses can help business owners fight back against predatory MCAs.

Unconscionability

  • Unconscionable agreements are those so one-sided and unfair, courts may void the contract. Factors making MCA loans potentially unconscionable include:
    • Excessively high interest rates
    • Misleading statements about costs
    • Terms grossly favoring the lender
  • Legal precedents like Bazemore v. Jefferson Capital Systems confirm courts willingness to void MCA loans with unconscionable terms. Those facing aggressive collection from an MCA with questionable terms can raise this defense.

Usury Violations

  • Usury laws restrict lenders from imposing excessive interest rates, typically above legal maximums between 6-25%.
    • MCA loans often carry effective rates far exceeding these levels. This report found average MCA rates from 94% to 370%.
  • Violating state usury laws can make loans void or interest rates capped at legal limits. Recent cases like K9 Bytes v. Arch Capital Funding demonstrate usury defenses can effectively fight MCA lenders.
  • The Uniform Commercial Code may also constrain interest charged by MCA lenders in some cases. Those facing collections can raise usury violations to contest debts.

RICO Violations

  • The federal Racketeer Influenced and Corrupt Organizations (RICO) Act provides treble damages against enterprises engaged in illegal loan sharking.
    • Predatory MCA lending increasingly faces scrutiny for potential organized crime ties that could violate RICO.
  • Plaintiffs can sue for triple damages under civil RICO provisions. The prospect of substantial judgements presents risks making MCA lenders more cautious.
See also  Los Angeles Merchant Cash Advance Lawyers and Business Debt Relief

For small business owners facing aggressive collections from MCA lenders, exploring defenses around unconscionability, usury violations or potential RICO claims may provide leverage in contesting debts. Consultation with legal counsel can help evaluate the viability of these options.

Our Legal Team Can Help

The attorneys in our network have extensive experience representing small business clients against MCA lenders and other creditors. We leverage our expertise to build defenses to contest questionable debts. Services we provide include:

  • Evaluating potential defenses – We thoroughly review loan contracts and conduct legal research to identify possible violations of unconscionability, usury or RICO to fight unscrupulous lenders.
  • Negotiating settlements or debt reduction – When viable cases exist, we negotiate aggressively with creditors, leveraging potential defenses to secure favorable settlements or debt relief for clients.
  • Litigation capabilities – If settlements fail and lenders pursue legal action, our lawyers stand ready to defend and countersue in court. Our litigators have successfully upheld defenses like unconscionability and usury violations to void predatory contracts.
  • RICO lawsuits – Our legal team has pioneered approaches applying the RICO Act against unscrupulous MCA tactics as illegal loan sharking enterprises. We continue developing these novel legal theories to equip small business clients with additional defenses against predatory lenders.

To learn more or discuss your situation with our attorneys, contact us for a free consultation. Our legal services aim to turn the tables against abusive MCA firms and other lenders, providing Idaho business owners leverage to mitigate debts. With customized debt relief solutions, we can help you resolve financial burdens and focus on business growth.

See also  Atlanta MCA Defense Lawyers Business Debt Relief

Our Debt Relief Process

If falling behind on business debts has you feeling buried, our 3 step process can help you find financial freedom:

1. Financial Triage

In initial consultations, our advisors assess your unique situation, providing expert perspective on what’s driving your debt crisis. We dig into the roots of profitability struggles and overspending behaviors to diagnose what solutions will relieve the burden.

2. Customized Debt Relief Plan

Armed with a clear understanding of your finances, we develop targeted strategies leveraging debt settlement, restructuring and our legal team’s capabilities to contest questionable debts. This customized blueprint provides a path to resolving debts and stabilizing finances.

3. Ongoing Money Management

As debts resolve, we provide ongoing services to help change behaviors and forge healthy financial habits. This prevents future debt accumulation so you can sustainably operate in the black.With individualized debt relief and financial consulting, our 3 step process aims to provide lasting solutions enabling your business to thrive.

Finding the Right Help

When financial struggles feel overwhelming, the path to freedom starts with finding the right partners. Our advisors bring empathy, expertise and dedication to guiding Idaho small business owners out of distress. We’re invested in your success and stand ready to help negotiate, restructure and contest debts so you can get back on stable footing.If debts keep you up at night, contact us today to start the conversation. Our team can walk you through options for relief and building financial health. Instead of continuing the struggle alone, bring us on board to help lift that weight so you can get back to profitability.

 

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