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Spokane MCA Defense Lawyers Offer Business Debt Relief
Merchant cash advances (MCAs) can provide quick funding for small businesses, but they often come with high fees, confusing terms, and the risk of predatory lending practices. If you’re a Spokane business owner struggling with MCA debt, working with an experienced MCA defense lawyer can help protect your rights.
How MCAs Work
An MCA provides funding to small businesses in exchange for a percentage of future credit card and debit card sales. It is not technically considered a loan, so MCA companies can bypass many regulations that apply to bank loans.While MCAs offer fast access to capital, they charge very high fees and rates. And the terms are often confusing, leading business owners to sign contracts they don’t fully understand.
Predatory Lending Risks
Critics argue that some MCA companies engage in predatory lending by targeting vulnerable small businesses. They lend money quickly without proper underwriting.This can trap business owners in a cycle of debt. And if the business defaults, the MCA provider may file an aggressive lawsuit to recoup the money owed.
Why You Need an MCA Defense Lawyer
If an MCA company sues your Spokane business, working with an attorney experienced in MCA litigation is crucial. An MCA lawyer can:
- Review your MCA contract and identify any prohibited or unenforceable provisions
- Challenge excessive fees, interest rates, or other unfair terms
- Defend against personal liability claims if you signed a personal guarantee
- Fight back against aggressive collection tactics like bank levies or wage garnishment
- Negotiate debt relief solutions like settlements or payment plans
Having a knowledgeable MCA defense lawyer on your side levels the playing field when dealing with predatory lenders.
Spokane MCA Defense Law Firm Provides Debt Relief
Delancey Street helps Spokane business owners find solutions for MCA debt through legal representation and debt restructuring services.While not technically a law firm, Delancey Street partners with experienced MCA defense attorneys to protect client rights. They take an empathetic approach and aim to negotiate win-win debt settlements whenever possible.
What to Expect When Working with Delancey Street
Here is an overview of what Spokane clients can expect when working with Delancey Street for MCA debt relief:
1. Free Consultation
Schedule a no-obligation phone consultation by calling 212-210-1851. Discuss your situation with a Delancey Street team member to determine if their services may help.
2. Connect with an MCA Defense Lawyer
If you choose to move forward, Delancey Street will connect you with an attorney experienced in MCA litigation. This lawyer will review your contract and provide legal counsel tailored to your situation.
3. Debt Restructuring Negotiations
In addition to legal defense services, Delancey Street will assign an advisor to negotiate directly with your MCA provider. The goal is to reach a reasonable settlement or payment plan to resolve the debt.
4. Ongoing Support
Your advisor and attorney will continue working on your behalf until the MCA debt is successfully restructured or dismissed. And you’ll have direct access to both throughout the process.
Why Small Businesses Choose Delancey Street
Delancey Street takes an empathetic, client-focused approach to MCA debt relief. Benefits for Spokane clients include:
- Flat-fee pricing – No surprise hourly charges. Fees are agreed upfront so you know what to expect.
- Personal attention – An advisor and attorney are assigned to each client. You’ll work directly with both from start to finish.
- Debt restructuring expertise – The team has years of experience negotiating settlements with MCA providers nationwide.
- Ongoing legal support – Attorney defends against lawsuits and engages MCA provider until debt issue is fully resolved.
Spokane Client Success Stories
Delancey Street has successfully helped many Spokane small business owners find solutions for burdensome MCA debt. A few examples:
Local Restaurant
A local restaurant took out a $50,000 MCA to cover renovations. But revenue dropped due to COVID-19 before they could pay it back. The MCA provider sued the owners personally for the full amount plus 200% interest.Delancey Street connected the owners with an attorney who got the lawsuit dismissed due to an unenforceable contract clause. The advisor then negotiated a $20,000 settlement agreement so the restaurant could move forward.
Spa and Salon
The owner of a Spokane spa and salon was struggling under multiple MCA agreements totaling over $100,000. Her advisor negotiated with all three MCA companies to combine the debt into one manageable payment plan at a reduced interest rate. This cut the monthly payments by 40% so the business could continue operating.
Local Retail Store
A small local retail store took out a $25,000 MCA to purchase inventory. But when COVID-19 hit, sales dropped sharply. The owner tried negotiating directly with the MCA provider but couldn’t reach an agreement.Delancey Street‘s attorney sent a demand letter asserting unenforceable contract provisions and questionable lending practices. The MCA company agreed to settle for $8,000 as payment in full.
Get MCA Debt Relief Today
If your Spokane small business is burdened by confusing, aggressive, or unfair merchant cash advance agreements, take action now to protect yourself.Connect with the experts at Delancey Street for a free consultation and to discuss your legal options. Call 212-210-1851 or contact them online to get started.
