Are you a business owner who is overwhelmed by merchant cash advances? You’re not alone, and we can help you. We are DelanceyStreet.com, your MCA debt advisors, a top-tier business debt relief company that is based out of NYC and helps clients nationwide. We focus on supporting small businesses that are drowning in MCA debt, and we offer strategies that can help you get back on track. If you need advise on how to deal with MCA debt, it’s smart to hire a team of MCA debt advisors who literally only focus on this. We understand how difficult it is; lenders are calling you, they’re calling your customers, they’re calling your vendors, everyone they can – to get their money back if you’ve defaulted.
UNDERSTANDING MERCHANT CASH ADVANCE DEBT
A merchant cash advance (MCA) is financing that was offered by lenders who are looking to provide quick capital to businesses. This type of money can help a company deal with urgent expenses, but it can also create a cycle of fees and daily or weekly payments that can crush cash flow. When an MCA that was supposed to help you ends up hurting you instead, it’s time to look for real solutions. Our team of MCA debt advisors can help you.
LEGAL RISKS AND PENALTIES
There are lenders who threaten legal action when businesses fall behind on MCA payments. If a lender that was expecting timely payments doesn’t get them, you might face lawsuits for breach of contract. A lawsuit that was filed by a lender can lead to judgments, garnishments, or asset seizures. That is a serious threat to any small business, which needs healthy cash flow to survive.
Fraudulent information that was found in your application or accounting records can lead to even bigger problems. Crimes that involve misrepresentation might expose you to civil and criminal penalties. If you are accused of fraud, you can face investigations by agencies like the Federal Trade Commission (https://www.ftc.gov/) or even federal prosecutors. That means you could deal with fines, probation, or in extreme cases, prison sentences.
REGULATORY GUIDANCE AND GOVERNMENT RESOURCES
There are many federal agencies that look out for small businesses want you to understand your options and avoid fraud. The U.S. Small Business Administration (https://www.sba.gov/) provides a lot information and resources online about different types of financing and tips for preventing debt problems. The Federal Trade Commission (https://www.ftc.gov/) also investigates lenders who engage in predatory practices. Knowledge that was gained from these official websites may empower you to protect your rights.
BORROWERS VS. LENDERS
Borrowers who rely on MCAs often feel trapped by high factor rates and daily payments, which can make it nearly impossible to meet other financial obligations. Lenders who provided a merchant cash advance are looking to be paid back on time, and they have the right to enforce their contract if you fall behind. That is the push-and-pull of the MCA world: You need breathing room, but lenders need their money.
Regardless of how challenging the situation seems, there is a way to find a middle ground. Lenders who see a sincere effort on your part might be open to negotiation, because they would rather get partial repayment than force a costly lawsuit.
HOW DELANCEYSTREET.COM DEFENDS YOU
We are DelanceyStreet.com, a top-tier business debt relief company that focuses on MCA debt resolution. Here are a few of our strategies that can help you:
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Negotiation That Was Built on Financial Data
We gather bank statements, lender agreements, and cash flow reports. We contact your creditors, who want proof of your hardship. Once creditors see data that was collected, they often become more cooperative. -
Litigation Defense That Was Designed for Tough Cases
If a lender sues, we work with our legal team so we can defend you in court. Evidence that was illegally obtained by a lender can be challenged in court, and that evidence may be thrown out. If evidence is thrown out, you weaken the lender’s case, which can lead to a better outcome. -
Debt Consolidation That Was Tailored to Your Situation
Sometimes one loan that was large enough to pay off multiple MCA balances can make your life easier. This leaves you with one payment that is easier to deal with. That can free up cash flow so you can invest back into your business. -
Proactive Communication That Was Focused on Avoiding Further Penalties
We believe in contacting lenders early and often. Penalties that accumulate over time can be reduced if lenders trust your intentions. Often, we are able to get punitive legal fees waived by speaking to lenders proactively.
CONSEQUENCES AND OUR APPROACH
When a lender thinks there is fraud, and decides to involve law enforcement, we step in. Most lenders just want their money back, with interest. If you can show them a pathway to getting it, and show that it’s the only real viable pathway – they will work with us. We speak with the authorities, who may be uncertain about the full story. We provide the correct documents and show that any missing payment was due to genuine financial hardship, not deception. Typically, fraud is never an issue we deal with when handling MCA default issues. The main issue our MCA debt advisors see is the business revenue dropping, and there isn’t a plan B to get out of the immense debt.
WHY WE CAN HELP YOU
We are DelanceyStreet.com, a trusted name that is referenced in top media outlets. Our award-winning approach includes, but is not limited to:
- Negotiation Skills: We know how to speak to lenders, and which lenders are ethical. We know how to reach out to them on your behalf. We know who they are, how they behave, and their personalities.
- Legal Insights: We have a team of attorneys who can protect you from lawsuits that may lead to judgments or garnishments.
- Experience Matters: Our team of attorneys and financial experts has helped hundreds of businesses nationwide.