South Carolina Business Debt Settlement and Merchant Cash Advance Lawyers
Running a small business is tough. Between managing employees, keeping customers happy, and actually making a profit, things can get overwhelming real quick. And if you’re struggling with business debt like loans or merchant cash advances? Well
that just adds a whole extra layer of stress.
Believe me, I get it. I‘ve worked with tons of small business owners in South Carolina who have found themselves falling behind on payments or getting harassed by debt collectors. It‘s no fun at all. But here’s the good news – you don’t have to handle this stuff on your own.There are business debt settlement lawyers and law firms out there who can help. Now I know what you might be thinking: “Lawyers? No way I can afford that!” But stick with me here. These aren’t your typical high-priced corporate attorney types. These are consumer protection lawyers who focus specifically on getting people out of debt.And the best part? Most of them only get paid if they successfully settle your debts. So it really is in their best interest to fight for you and get you the best possible settlement.Let me break down exactly how these lawyers can help with your South Carolina business debts and merchant cash advances.
Stop Harassing Debt Collectors
When you fall behind on business debts, you can pretty much count on debt collectors calling you day and night demanding payment. They may even resort to aggressive or threatening tactics which are totally illegal under the Fair Debt Collection Practices Act.This is where a good business debt settlement lawyer can step in and put an immediate stop to the harassment. They’ll send a letter to the debt collectors informing them they now legally represent you. This means the collectors can no longer contact you directly – they have to go through your attorney. Such a relief not having to deal with those pesky collectors anymore!
Negotiate Lower Payments & Settle Debts
Now here‘s where the real magic happens. Your business debt attorney will open up negotiations with your creditors and debt collectors to try and settle your debts. This means paying less than you originally owed in exchange for the debts getting wiped away.For example, let’s say you owe $100K spread across several business credits cards and loans. The lawyer may be able to negotiate this down to $60K or $70K to fully settle things. While you still have to come up with the settlement money, it’s obviously much more affordable than paying back the entire $100K!They can also often negotiate lower monthly payments, reduced interest rates, waived fees, and other concessions to make repayment easier. The key is that the creditors see that you‘ve lawyered up so they know you mean business and they better come to the table ready to deal.
Defend Against Lawsuits
Sometimes creditors like banks or merchant cash advance companies will sue small business owners in an attempt to collect. They may try to get judgments against you personally or even try to levy your business bank accounts or assets.Your business debt attorney can put an immediate stop to collection lawsuits by mounting strong legal defenses on your behalf. This may include challenging improper service, pointing out violations of lending laws, or even counter suing for damages under consumer protection statues.Basically the other side will see you’ve got representation and that you‘re willing to fight. Nine times out of then they‘ll back down rather than risk losing in court. Meaning the lawsuit gets dropped and you can move forward towards settling the debts.As you can see, having a good business debt and merchant cash advance lawyer on your side makes a huge difference. You’ll finally get debt collectors off your back, negotiate affordable settlements, and have strong legal defense against lawsuits.
Finding the Right Attorney
If you’re looking for help with South Carolina business debts, where do you start? I’d recommend checking out Delancey Street. We‘re not technically a law firm ourselves. But we work with a nationwide network of highly experienced consumer protection and debt relief attorneys.When you sign up with us, we immediately pair you with a dedicated case expert. They‘ll help determine the specifics of your situation and match you with one of our partner attorneys licensed in South Carolina. This lawyer will then take over representation of your case.The great thing is we handle all the coordination and communication with the attorney behind the scenes. So you can just focus on your business while we take care of the legal stuff. Plus our case experts will keep you updated every step of the way as the lawyer negotiates with your creditors.Some key facts about working with us:
- We offer free, no-obligation case reviews to see if we can help with your debts. Takes just a few minutes to get this started.
- Our partner lawyers are experienced in assisting South Carolina small businesses. They know all the relevant laws and regulations inside and out.
- We’ll match you with an attorney licensed specifically in SC. This ensures proper jurisdiction over any legal disputes.
- Our attorneys are paid on performance, only collecting if debt settlements are successfully negotiated.
- We’ll provide updates every step of the way so you know what’s happening with your case. No need to chase down your lawyer constantly!
If you have any other questions, give us a shout at 212-210-1851. Or check out some attorney review sites like <a href=”https://www.avvo.com”>Avvo</a> and <a href=”https://www.lawinfo.com”>LawInfo</a> to learn more about our track record helping businesses. Hope to hear from you soon!
What Laws & Protections Apply in SC?
Now as promised, let me talk a bit about South Carolina‘s specific laws and protections regarding small business debts and financing:***Fair Debt Collection Practices Act (FDCPA)***This federal law is your best friend when dealing with aggressive debt collectors. It prevents collectors from using abusive tactics like harassment, threats, or deception when trying to collect. Violations are subject to fines of $1,000 per incident plus actual damages.
South Carolina Consumer Protection Code
This state law prohibits unfair or deceptive lending acts by banks, creditors, or debt collectors. Trying to collect invalid debts, misrepresenting terms, excessive fees, etc could all be violations. You can recover monetary damages plus attorneys fees if violations are proven.
South Carolina Lawsuit Lending Act
Governs merchant cash advance companies operating in SC. Sets limits on rates and fees charged. Requires clear disclosure of terms. Violations can lead to debts being invalidated plus monetary damages. So MCA companies must tread carefully when dealing with SC businesses.
Bankruptcy
While bankruptcy should be a last resort, SC small businesses do have the option to file Chapter 7 to liquidate or Chapter 11 to reorganize. This immediately halts collections and wipes clear eligible debts. You’ll want an experienced bankruptcy attorney to explore this option.There are also some new federal regulations and proposals that apply specifically to merchant cash advances and business financing companies. Our partner attorneys stay on top of all these laws and know how they can be applied to defend your SC business from collections.
Don’t Face This Alone!
Dealing with business debts and aggressive collections is difficult enough without having to master complex laws yourself! That’s why partnering with an experienced South Carolina attorney is so valuable. Let them handle interpreting regulations, negotiating settlements, and fighting back against predatory lending practices.So don‘t wait until you receive a threatening collections letter or get served with a lawsuit. Reach out now to discuss your options with our legal team. Call 212-210-1851 or check us out online at Delancey Street We’re here to help South Carolina business owners get financial freedom from burdensome debts!
