The Harsh Reality of Merchant Cash Advances
You took out a merchant cash advance (MCA) to help your business, but now – you‘re drowning in debt. The repayment amounts are crippling, and you can’t see a way out. What do you do? Simple: hire an Anchorage MCA defense lawyer to fight for you.At Delancey Street, our criminal attorneys understand the complexities of MCA agreements. We know the lenders often mislead borrowers on the true costs. So, what do you do, if you get hit – with one of these things? You fight back.
The Deceptive Nature of MCAs
MCAs are marketed as a simple way to get capital – but the truth is far more sinister. Lenders obscure the real annual percentage rates (APRs), which can reach triple digits. They claim it’s not a loan, it’s a “purchase of future receivables.” But is it, really?Our lawyers analyze every clause of your agreement. We look for any violations, like:
- Usury laws: Is the effective APR so high it breaks state usury caps?
- Disclosure issues: Did the lender properly explain the costs and terms?
- Unconscionable clauses: Confessions of judgment that rob you of rights are often unenforceable.
If we find any illegal provisions, we‘ll fight to get your MCA voided or reformed. No more crippling daily payments eating into your sales.
Holding Lenders Accountable
At Delancey Street, we take an aggressive stance against predatory MCA lenders. They know the agreements are one-sided in their favor. But you have rights, and we enforce them using every tool:
- Affirmative litigation: We sue lenders for violations of lending laws and deceptive practices.
- Bankruptcy protection: An MCA may be dischargeable in bankruptcy, giving you a fresh start.
- Negotiations: Our lawyers negotiate new terms to make the repayment sustainable.
It’s simple. Every single client deserves honesty and white glove service. We treat your case like our most important, because to you – it is.
The Power of Knowledge
What if you just signed an MCA and haven‘t made payments yet? Educate yourself now on what you‘re getting into:
- Understand the true costs: Ask for the dollar cost and effective APR over the full term.
- Read every word: Don’t just skim – dissect the agreement for unfair clauses.
- Consider alternatives: There may be better funding options like SBA loans.
An Anchorage MCA lawyer can review your agreement before it’s too late. We’ll advise if it’s legal and make sure you know the ramifications.
When the Debt Collectors Come
Let’s say you already defaulted, and now the calls from debt collectors are nonstop. Don‘t engage – you‘re just digging a deeper hole. Hire us first.Our attorneys deal with the harassment, and put legal pressure on the MCA company:
- Demand strict proof: They must validate the debt amount and their authority to collect.
- Enforce debt collection laws: We sue over violations like excessive calls and threats.
- Negotiate settlements: We work to reduce what you owe to an affordable sum.
You don‘t have to face this battle alone. Delancey Street has your back, every step of the way.
When the Wolves Are at the Door
Perhaps it‘s gone even further – the MCA company has a judgment against you. Maybe you missed a notice and it was a default judgment. Don‘t panic, you still have options:
- Vacate the judgment: Our lawyers may get it overturned due to issues like improper service.
- Appeal or negotiate: We’ll fight the judgment through appeals or settlement talks.
- Protect your assets: We’ll use bankruptcy or other means to shield what’s yours.
The lenders want you to just give up and let them devour your business. We never surrender that easily.
The Hypothetical Scenario
It could be that you simply did not see the bus. You were distracted, looking at your phone, and the next thing you know – WHAM! You‘re in a crumpled mess on the street.In this hypothetical scenario, who is at fault? Did the bus driver give proper warning? Were you jaywalking across the road? These are all critical factors our attorneys would examine.We have to look at every angle to build the strongest possible defense strategy. The same diligence applies to MCA cases and any criminal matter. We leave no stone unturned in pursuing justice for you.
When to Hire an MCA Lawyer
The bottom line: if you have an MCA issue, get an Anchorage lawyer involved at the earliest stage possible. Trying to handle it yourself is foolish – these are complex legal & financial matters.A few key times to call Delancey Street:
- Before signing an MCA: We’ll review it and advise if it’s an enforceable, fair deal.
- If you’re struggling with payments: We’ll negotiate affordable terms or fight any illegal provisions.
- At the first sign of default: Letting it go can make the situation far worse – we’ll intervene.
- When sued or facing a judgment: Our litigators will aggressively defend your rights.
Don’t let an MCA drag you and your business under. Delancey Street gives you the aggressive, strategic representation to fight back and win.