Are you a North Dakota business owner who is overwhelmed by merchant cash advance (MCA) debt – do you find yourself staying up at night, because you are getting calls from MCA lenders who want their money back? Do you worry about lawsuits, or even criminal charges, because of MCA agreements that were impossible to manage – or because you’re defaulting on an existing MCA loan?

We get it.

We are DelanceyStreet.com, a top tier business debt relief company based out of NYC, that helps clients all over the country. Our team focuses on business debt relief, and we understand how lenders who are owed money think. Regardless of your current situation, we can help you navigate the rules tied to MCAs, and protect your business assets, and personal assets.

WHAT IS A MERCHANT CASH ADVANCE
A merchant cash advance is a type of financing which involves you getting a lump sum of money in exchange for a percentage of your daily or weekly credit card sales. MCA lenders who provide merchant cash advances do not view it as a typical loan. Instead, they consider an MCA a sale of future receivables. Because MCAs can come with very-high factor rates, many owners who took out these merchant cash advance struggle to repay them on time, without accidentally defaulting because they miss a payment here or there. Many people don’t know – if you miss 2-3 payments, you’re automatically in default. Predatory lenders love it when you default- they make more money – they are able to charge default fees, and other penalties.. Most business owners don’t have 100-200% margins, as a result it’s impossible to afford the high cost of MCA’s.

PENALTIES AND POTENTIAL CRIMINAL CONSEQUENCES
Penalties that can arise from MCA defaults often start with civil lawsuits. A MCA lender who is determined to collect might seek a judgment that was agreed upon by you or your guarantors. This can lead to wage garnishments, account freezes, or property liens. The North Dakota Century Code, which is the body of law used by the North Dakota courts, discusses the rules about judgments and collection actions. You can read more about judgment enforcement at the North Dakota Attorney General’s Website.

Sometimes, a borrower who provide false information or who conceals assets might face criminal charges. Penalties that are criminal, under fraud statutes, can include fines or jail time. If you are charged with fraud, the consequences could destroy your business and personal finances. We want to help you avoid that – and that means getting ahead of the problem, reaching out to lenders and ensuring them you have intentions of repaying the MCA – but need time.

EVIDENCE THAT WAS IMPROPERLY GATHERED
Evidence that was improperly gathered by lenders may be inadmissible. When evidence is excluded in court, lenders who are trying to prove a default may be forced to settle or drop certain claims. As a result, you might avoid a costly judgment or the possibility of additional fees.

WHY HIRE NORTH DAKOTA MCA DEFENSE LAWYERS
Our attorneys who are familiar with MCA agreements can offer defenses, reduce your debt load, or help you settle. If you fail to defend yourself in court when you are issued a summons and complaint, you might end up facing default judgments or additional penalties. This can lead to lost revenue and difficulty securing future financing for your business. If you get a default judgement, its likely your business credit score will suffer, in addition to your personal credit score.

HOW WE FIGHT AND DEFEND YOUR BUSINESS
We protect you by using proven strategies.

• We challenge fees that were charged by MCA providers. If these fees were excessive, we push for a reduction in the total debt and a reduction in the total penalties. This means you get to keep more money.
• We expose improper collection tactics that were used against you. When lenders use threats or harassment, we demand accountability. This can force them to negotiate under fair terms.
• We scrutinize the agreement language that was in your MCA contract. If there is a confession of judgment (COJ), we investigate whether it was properly used. If a COJ is misused, the result might be a dismissal of the lender’s claims.

STRATEGIES FOR NEGOTIATION

1. Open Communication
   Creditors who see that you are willing to work with them might be open to settling or reducing the factor+balance. They might be open to giving you a term extension as well. If you stay silent, they might pursue legal action and force your hand.

2. Lump Sum Offers
   A lender that was owed a certain amount may accept a partial but lump um payment. When you do this, you avoid months of high interest.

3. Debt Consolidation
   Consolidation that involves one single payment may help you breathe easier.

4. Attorney-Initiated Discussions
   Our attorneys, who are recognized as experts in MCA negotiations, can use leverage that was built over years of dealing with these lenders.

HOW LENDERS THINK
Lenders want you to repay the MCA as fast as possible. They do not want you to file bankruptcy or ignore them, because that can reduce their odds of recovery. If you file bankruptcy, the lender will not collect a penny. They don’t want that. If they can’t immediately seize your assets, they’ll play ball. A lender who is well-represented might use aggressive collection agencies. They may file lawsuits that are intended to frighten you into quick settlements.

WHAT YOU CAN DO NOW
Contact DelanceyStreet.com. Our team has experience negotiating with MCA providers in North Dakota. We look at your finances, and we create a plan that focuses on resolving your debt, so you can focus on your business.

FEDERAL AND STATE RESOURCES
To learn about additional consumer protections, you can visit the Federal Trade Commission (FTC) website or the North Dakota Legislative Branch website. These official sites show you current laws, regulations, and the rights that you have as a business owner.

POINTS OF VIEW
We understand that a lender who is owed money wants fast repayment. Your point of view is that you need breathing room to keep your business alive. Our law firm tries to find common ground—so that the lender recovers some of their funds and your business gets time to regroup.

OUR TEAM. OUR PHILOSOPHY
We are DelanceyStreet.com, and we’re dedicated to one thing: helping you get out of the business debt you’re stuck in.  We approach MCAs with a strategy, and we believe that open communication often leads to fair compromises. If we cannot reach a fair compromise, we are prepared to defend your rights in court. We will never let an MCA lender bully you – and most importantly, we are in your corner – always.