Merchant cash advance is a popular form of business funding. However, it can also be very dangerous for the finances of the business. Unlike a traditional loan, a merchant cash advance is a buy-out of future credit card receivables with a built in margin for profit. In addition to there being no actual interest rate, the merchant cash advance debt relief industry is not regulated as rigorously as consumer debt relief industry.
The vast majority of cash advancements are repaid daily which can be problematic if the business is facing financial distress. Defaulting on your repayment agreement with the borrower can result not only in an unfavorable credit reputation, but also lawsuits from the cash advancing funding company.
ARE YOU BEING SUED FOR DEFAULTING ON A MERCHANT CASH ADVANCE?
When you are faced with a lawsuit on a merchant cash advance, it is paramount to get professional help from an business debt relief experienced lawyer. Merchant cash advance lawsuits are for more complex than consumer debt and not getting proper legal counsel can be detrimental for your finances.
HOW MERCHANT CASH ADVANCE DEBT RELIEF HELP YOU?
Our merchant cash advance debt relief attorneys are well versed in assisting business eliminate crippling debt. Our cash advance debt relief services include:
- Filing an Answer with Affirmative Defenses and any applicable counterclaims.
- Request discovery by way of Interrogatories, Notices to Admit, Depositions, and a Demand For Productions of documents.
- Pursue a Motion to Dismiss, fight at trial, or negotiate to settle the business debt lawsuit.
Don’t let merchant cash advance debt hinder your business from growth. There are business debt relief options available to help you save your business. Schedule a free consultation with one of our business debt relief lawyers to discuss your options.