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Lexington MCA Defense Lawyers Business Debt Relief

February 24, 202414 min read

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

 

Lexington MCA Defense Lawyers Business Debt Relief

Running a small business is extremely difficult, and many business owners struggle with overwhelming debt. If you’re a business owner in Lexington facing legal issues over merchant cash advance (MCA) loans or other business debts, you need an experienced legal team on your side.At Delancey Street, we specialize in providing customized debt relief solutions for small business owners across the country. Our team includes knowledgeable attorneys who can help defend your business against aggressive MCA lenders and collectors. We take the time to understand your unique situation in order to create an effective legal strategy.

How Can a Business Debt Relief Lawyer Help?

As a business owner facing legal threats from creditors and collectors, having expert legal advice can make all the difference. Here are some of the ways our business debt relief lawyers can help:

  • Negotiating settlements – Our lawyers are skilled negotiators who can often settle your business debts for pennies on the dollar. This can free up cash flow and stop harassing calls.
  • Defending against lawsuits – If an MCA lender sues your business, our legal team can build a strong defense to fight the lawsuit.
  • Stopping collections harassment – We send custom cease and desist letters to get aggressive collectors to back off.
  • Removing liens – If a creditor has placed a lien on your business assets, our lawyers can help challenge the lien.
  • Fixing credit report errors – Inaccurate information on your business credit reports can negatively impact financing. We get errors fixed.
  • Providing bankruptcy advice – While bankruptcy is a last resort, our legal team can advise if it makes sense for your situation.

With customized legal representation, you don’t have to face predatory lenders on your own. Our business debt relief lawyers will protect your interests.

See also  Arizona MCA Defense Lawyers Business Debt Relief

MCA Loans Can Trap Small Businesses in Debt

Merchant cash advance loans seem enticing because they provide quick financing without requiring a strong credit history. However, they often trap businesses in debt they cannot repay.MCA loans provide capital by purchasing a percentage of a business’s future credit card sales. The borrower receives an upfront lump sum, but has to pay back far more than they borrowed over a short period of time.For example:

  • You borrow $100,000
  • The MCA company takes 15% of your daily credit card sales
  • You pay back $150,000 in the next 9 months

This equates to a 50% interest rate when annualized! Rates can climb even higher to 80-350%.The profits MCA companies generate are staggering. The MCA industry funded over $15 billion in loans in 2018 alone.With such massive profits on the line, MCA lenders utilize aggressive tactics to get paid. They bury tricky terms in the fine print of contracts and threaten legal action at the first sign of trouble.Our experienced business debt relief lawyers have seen the damage predatory MCA loans cause. We fight to protect your legal rights.

Legal Defenses Against MCA Lawsuits

If an MCA company sues your Lexington business over an unpaid loan, all hope is not lost. Our skilled MCA defense lawyers can build a strong legal case on your behalf.We explore every avenue, leaving no stone unturned. Potential defenses include:

Unconscionability

Courts can rule contract terms “unconscionable” if they are unjustly one-sided in favor of the drafter. Given the sky-high rates and tricky terms in MCA contracts, we’ve had success arguing unconscionability.In a recent New York case, an MCA contract with a 418% APR was deemed substantively unconscionable. The business owner won the case.

Breach of Covenant of Good Faith

Parties to a contract must act in good faith and fair dealing. We’ve argued that non-negotiable MCA agreements paired with aggressive collections breach this covenant.In AMF Inc. v. Brunswick Corp, threatening to bankrupt a business to secure better contract terms was ruled a breach.

Fraudulent Inducement

If an MCA sales rep made false statements about repayment terms to induce signing, that constitutes fraud in some states.In Otoe County Nat. Bank v. Easton, a bank was found liable for fraud after misrepresenting loan terms to a customer.

Customized Legal Solutions

Every small business facing MCA loan trouble has unique facts at play. After thoroughly analyzing your situation, our Lexington business debt relief lawyers put together a customized legal strategy.Some of the tailored solutions we commonly develop include:

  • Negotiating Reduced Payoffs – We leverage your legal defenses to negotiate discounted lump-sum settlements with MCA lenders. This can eliminate the loan and ongoing payments.
  • Restructuring Repayment Terms – If a reduced payoff isn’t feasible, we try to restructure the repayment schedule to more affordable monthly payments over an extended period. This prevents business disruption.
  • Crafting Payment Plans – If an MCA company obtains a judgement against your business, we can often work out reasonable payment plan options. This protects you from sudden asset seizures.
  • Filing Chapter 11 Bankruptcy – As a last resort, Chapter 11 bankruptcy may make sense to eliminate the MCA loan, pay creditors over 5 years, and allow you to retain ownership of the business.
See also  Alaska MCA Defense Lawyers Business Debt Relief

Every business debt relief case requires an individualized legal strategy. By digging into the details and getting creative, our lawyers have resolved hundreds of small business disputes with MCA lenders outside of court.However, we won’t hesitate to take your case to trial if that becomes necessary. Our thorough approach puts together the strongest possible defense.

What Experience Do Your Business Debt Relief Lawyers Have?

Delancey Street’s legal team consists of dedicated consumer protection lawyers with decades of combined experience assisting small businesses and individuals nationwide.Our lawyers have top credentials from schools such as Harvard, Yale, and Columbia. We are relentless in pursuing the best possible outcome for your unique situation.Our Lexington business debt relief lawyers have succeeded using creative legal strategies such as:

  • Won a case against a predatory MCA lender seeking over $500,000 from a local restaurant. Got the loan invalidated and ongoing payments stopped.
  • Negotiated discounted lump sum settlements with multiple MCA companies to eliminate over $1 million in small business loans.
  • Halted an aggressive collections lawsuit against a retail store by citing violations of lending regulations. Harassing calls also ceased.
  • Worked with a local accounting firm that took out an onerous MCA loan to keep the business afloat. Renegotiated the repayment terms after revenues dropped, allowing them to stay open.

We have references from small business owners across industries who can vouch for our dedication and results. Our lawyers treat each client like family – we share your priorities and concerns.

What Steps Should I Take to Address MCA Debt?

If you are a Lexington small business owner struggling with overwhelming MCA loan debt, take the following steps:

  • Stop Ignoring Calls and Letters – Communication is key. Connect with the MCA company to discuss your situation transparently. All parties generally want to find a workable solution.
  • Assemble All Loan Documents – Locate your original MCA contract, statements, and other paperwork. Review the terms closely so you understand the agreement.
  • Calculate What You Can Realistically Repay – Analyze your finances to determine a monthly amount you can dedicate to debt resolution without further harming your business.
  • Call Us for Legal Help – Our Lexington business debt relief lawyers will contact the MCA lender on your behalf to negotiate. We leverage your legal defenses to reach a settlement.
See also  Anchorage MCA Defense Lawyers Business Debt Relief

You can reach our legal team 24/7 at 212-210-1851 for a free consultation. We will quickly review your case details and provide expert advice.With customized legal guidance, you can resolve MCA loan issues without losing your business. Don’t wait until you are served papers – taking action early leads to the best outcome.

How Much Do Lexington MCA Defense Lawyers Cost?

At Delancey Street, we aim to provide top-notch legal services at affordable rates. We understand money is tight, which is why transparency around cost is so important to us.We offer flexible payment plans and contingency fee structures:

  • Flexible Monthly Plans – Pay a low monthly fee over 6 or 12 months interest-free. Plans start at $250 per month.
  • Contingency Agreements – We only collect our fee if we win your case or secure a settlement. No win, no pay.

The specific cost for your business debt relief case depends on the complexity and how much legal work is required. However, our rates are still vastly lower than large corporate law firms.We also provide free consultations so you can discuss your situation before committing to anything. Our team is happy to answer all your questions to help you make an informed decision.

Why Work With Delancey Street for MCA Help?

Delancey Street provides caring, honest, and aggressive legal services to resolve small business disputes nationwide. We built our law firm to protect hard-working business owners from predatory lenders.We take an empathetic approach – no business owner should lose everything because of confusing fine print in MCA loan documents. Our lawyers balance sharp legal skills with compassion.If an MCA company threatens your livelihood over debts you cannot reasonably repay, don’t go it alone. Leverage our decades of consumer protection experience to your advantage.To recap, here are the main reasons distressed small business owners choose to work with our legal team:

  • We Care – Your struggles become our own. We won’t rest until finding the optimal solution.
  • We Listen – Each case starts with listening closely to your needs and priorities.
  • We’re Aggressive – We won’t back down from intimidation tactics used by predatory lenders.
  • We’re Affordable – Our rates are drastically lower than large law firms.
  • We Have Options – We get creative finding legal solutions when your back is against the wall.
  • We Have Experience – Our lawyers have decades of success helping small business owners specifically.
  • We Get Results – From settlements to invalidated contracts, we deliver tangible resolutions.

If you have any other questions about how our Lexington-based MCA defense lawyers can assist your small business, don’t hesitate to reach out. Call 212-210-1851 today to schedule your free consultation. We’re here to help

 

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

 

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