Seasonal changes and a fluctuating economy may have resulted in your small business experiencing merchant cash advance default. Since this type of business funding is not as regulated as other forms of business financing, it is important to know what debt relief options are available to you.
MERCHANT CASH ADVANCE DEFAULT PERSONAL GUARANTEE
Almost all MCA agreements require the business owner to sign a personal guarantee clause. A personal guarantee permits the MCA lender to seek relief from merchant cash advance default by going after the business owner in his or her personal capacity by way of a merchant cash advance lawsuit. It is important to understand that when you default on your merchant cash, it is important to seek out debt relief strategies prior to being with a series of lawsuits. Some of the ways in which our experienced attorneys can help you overcome crippling MCA debt is:
- Negotiating with your creditors to settle the debt.
- Filing a Chapter 11 bankruptcy to restructure your MCA debt.
- Advocating on your behalf to reduce what you owe.
HOW TO DEAL WITH A MERCHANT CASH ADVANCE DEFAULT LAWSUIT
When you receive a notice of a lawsuit, it is important to get touch with an experienced business debt relief lawyer. Failure to provide a timely response to the lawsuit will result in a default judgment. Our attorneys are well versed in providing aggressive legal counsel to business owners who have been sued for merchant cash advance default. A few of your options include:
- Filing an Answer with Affirmative Defenses and any applicable counterclaims.
- Requesting discovery by way of Depositions, interrogatories, Notices to Admit, and a Demand For Productions of documents.
MERCHANT CASH ADVANCE DEFAULT LAWYERS
Our experienced business debt relief lawyers will explore every option to settle your business loan debt while protecting your interest. Whether it’s a small business loan or Merchant Cash Advances, our attorneys will help you create strategy that works best for your specific financial situation. Schedule your free initial consultation today.