Steven Raiser is Chief Legal Officer, and Legal-Counsel at Delancey Street. Steven is a native of Long Island and has also resided in Manhattan and the Bronx.
Since being admitted to the New York Bar, Steven has represented the city of New York, serving as a Special Assistant Corporation Counsel. He handled all aspects of litigation in child neglect cases there, representing the interests of the children and the city. He then served as an Assistant District Attorney, where he successfully prosecuted hundreds of criminal cases, from violations of the Vehicle and Traffic Law to homicides. During his time as a prosecutor, Steven was involved in high-profile cases such as those involving Rapper DMX and NY Rangers’ Defenseman Sandis Ozolinsh.
-While serving as a prosecutor, he joined the U.S. Army. As a commissioned officer in the Army National Guard Judge Advocate General’s Corps, Steven volunteered for active duty in Iraq. There he served in the office of the Staff Judge Advocate, defending soldiers from actions instituted by the federal government, making probable cause determinations for the command, and assisting in the training of Iraqi soldiers in legal proceedings. In recognition of his service in Iraq, he earned the Global War on Terrorism Expeditionary Medal for meritorious service in support of Operation Iraqi Freedom and the Army Commendation Medal for exceptional meritorious service during combat operations. He, along with his unit, received the New York State Bar Association’s Award for Excellence in Public Service and was presented with our state flag by Senate Majority Leader Joseph Bruno.
Steven M. Raiser is admitted to practice law in the state courts and federal court in the Eastern District. On November 14, 2010, he was sworn in to the United States Supreme Court by Chief Justice John Roberts in Washington, D.C. Steven has appeared as a legal analyst for FOX, CNN, and Court TV (TRU TV). His interviews on CNN and FOX have been posted to their websites and have been showcased under “must see videos.”
-Merchant cash advances (MCAs) have exploded in popularity among small business owners in Tennessee looking for quick capital. Unlike traditional bank loans, MCAs provide fast cash in just days or weeks, without requiring strong credit or collateral.But while MCAs may seem like an easy financing fix at first, they come loaded with risks many business owners don’t fully grasp. Extremely high effective interest rates, coupled with daily repayment deductions that drain cash flow, can create a debt trap. Many Tennessee companies have found themselves facing lawsuits or even bankruptcy trying to dig out of MCA debt.If you took out a merchant cash advance and are now facing unaffordable payments or aggressive collection tactics, know that legal help is available. An experienced Tennessee MCA attorney can help you understand your rights and defenses, negotiate better terms, and resolve legal disputes. This guide covers key things to know about MCA laws in Tennessee, common legal issues that arise, and finding the right legal help.Tennessee MCA Laws and RegulationsWhile some states like California and New York have enacted laws specifically regulating MCA loans, Tennessee currently has no statutes directly governing this type of financing. However, MCA companies still have to follow the state’s general lending and consumer protection laws, including:
- Usury Limits – Interest rates over 10% may violate civil usury laws, while rates over 45% are considered criminal usury. Yet MCA rates often far exceed these caps.
- Deceptive Trade Practices Act – Makes it illegal for lenders to use deception, false statements or intimidation to induce borrowing or collect payments.
- Uniform Commercial Code – Governs contracts for sale of goods and services, including what’s required for a legally binding agreement.
So while MCAs exist in a legal gray area in Tennessee, experienced attorneys can still challenge improper lending practices or contract terms and help business owners fight back against predatory behavior.Common Tennessee MCA Legal IssuesAs MCA loans have proliferated, many Tennessee companies have found themselves blindsided by obligations and aggressive collection efforts they didn’t fully grasp. Some of the most common legal predicaments facing local business owners include:
- Unaffordable Payments – Many companies are approved for MCA sums they realistically can’t afford to pay back. When payments become too burdensome, legal help can renegotiate terms.
- Harassment & Intimidation – Some MCA lenders resort to threats and extreme collection tactics like accessing bank accounts or placing liens on property illegally.
- Lawsuits & Judgments – MCA lenders frequently sue over missed payments. But often these lawsuits are flawed and attorneys can get them dismissed or reversed.
- Bankruptcy – Filing Chapter 7 or Chapter 11 may be the only path left for some businesses to eliminate all or part of crushing MCA debt.
The bottom line is MCA loans come with major blindspots and hazards. Before entering into one, it’s critical to understand your rights and responsibilities should things go sideways. And if you find yourself in a battle with an MCA company, legal backup can help level the playing field.Finding the Right Tennessee MCA AttorneyAs MCA lending has grown more predatory, a number of law firms and attorneys across Tennessee have begun specializing in this area. When researching legal help, some key credentials to look for include:
- Specific MCA Experience – You want an attorney well-versed in the MCA industry’s questionable tactics and relevant case law.
- Local Knowledge – Check they understand Tennessee lending statutes, consumer protections and courts.
- Affordable Assistance – Many firms work on contingency or offer free consultations. Avoid those pushing retainers upfront.
- Positive Track Record – Look for proven experience negotiating, settling disputes out of court or winning MCA lawsuits.
- Client Endorsements – Reviews showing other local businesses got favorable outcomes.
[Avvo.com], [LawInfo.com] and [FindLaw.com] all provide directories to browse Tennessee collections defense and debtor relief attorneys. Additionally, the National Association of Consumer Advocates is a good resource for finding consumer protection attorneys with experience fighting predatory lending.By selecting the right lawyer for your situation and goals, you can gain an invaluable ally for defending your interests and resolving MCA debt. With legal backing, many Tennessee small business owners have negotiated much lower payments, settled outstanding balances or even gotten advances dismissed entirely.Don’t let pushy MCA lenders pressure you into accepting unreasonable terms or aggressive collection actions. Understand the protections available and explore options with experienced legal counsel. Relief from MCA debt is possible with help navigating the complex legal landscape.