NYC MERCHANT CASH ADVANCE LAWYERS: WHAT YOU SHOULD KNOW

Are you worried about a merchant cash advance that was taken out in NYC, and unsure if the agreement is going to lead you into serious legal trouble? We can help you. We have a team of legal experts in NYC, that handle all legal issues our clients face. Many MCA lenders are based out of NYC – and so if you’re dealing with a legal issue, we encourage you to contact us – and speak to us. Our team at DelanceyStreet.com understands that business owners might feel overwhelmed by tough repayment terms, potential criminal allegations, or looming court actions. Regardless – we can help you.

THE BASICS: WHAT IS A MERCHANT CASH ADVANCE?
A merchant cash advance is a form of financing that was provided to a business, in exchange for a portion of future sales. This can feel like a lifesaver when you need fast cash. One simple application, no credit check, and money in your bank account the same day. As a result, many people sign MCAs quickly, without realizing the serious implications – its just TOO easy. If the MCA has terms that were too harsh, or if the contract that was signed contains misleading language, you could face high costs, severe fees, or even legal challenges. If you signed it without reading the agreement, you can literally sign away your life.

NYC MCA Defense Lawyers

PENALTIES, CRIMES, AND PUNISHMENTS TO WATCH OUT FOR
Some MCAs can cross into illegal territory. A lender who was acting in bad faith can include unreasonable rates or hidden fees that go against New York laws or federal regulations. If there is fraud alleged, then prosecutors might try and build a case that leads to criminal charges.

Here are key areas that could trigger penalties:

• Fraudulent Applications
  An application that was filled with false details can cause an investigation. As a result, you might face felony fraud charges, which carry fines or prison time. For example, you submitted fake tax returns, or fake bank statements.
• Usury or Excessive Rates
  An interest rate that was illegally high may violate New York’s usury statutes. As a result, the court might declare the contract unenforceable.
• Breach of Contract
  Missed payments, or hidden clauses that were never disclosed, can lead to lawsuits. As a result, you could lose assets or face judgments if you cannot pay.

According to the Federal Trade Commission (FTC.gov), deceptive lending practices may also lead to penalties that include heavy fines and injunctions. You can learn more about consumer protection efforts by visiting the New York Attorney General’s Office or NYCourts.gov to read about relevant cases.

STRATEGIES DELANCEYSTREET.COM USES TO DEFEND YOU
Our team of NYC MCA defense attorneys that was trained in both legal and negotiation tactics knows how to handle MCAs. We look at:

1. Contract Review
   We check every detail in the agreement that was signed, because any unlawful or deceptive term can be used to reduce or dismiss what you owe. As a result, you might see your overall debt go down.
2. Negotiation with Creditors
   Lenders that are aggressive, sometimes back down when we point out violations. As a result, they might settle for a smaller amount, or better terms, rather than risk a lawsuit.
3. Criminal Defense Support
   If there are accusations of fraud, we consult our sister law firm, which focuses on mounting a strong defense. As a result, we protect you from jail time or massive fines.

We approach every case with a focus on open communication. Evidence that was questionable will be investigated, and we’ll argue to have it removed from trial if it violates your rights. Our goal is to restructure your business debt into new terms that work for you.

WHAT YOU CAN DO IF YOU FACE A MERCHANT CASH ADVANCE DISPUTE IN NYC

1. Stay Informed: Read about consumer protections at ConsumerFinance.gov. You’ll find helpful articles on what lenders can and can’t do.
2. Speak to Our Team: We can request info from the MCA company, gather bank statements, and see if there were any hidden fees. As a result, you might save thousands of dollars.
3. Explore Legal Remedies: If the lender violated state or federal rules, the court that hears your case might force them to reduce the debt, or dismiss the contract.

HOW DELANCEYSTREET.COM CAN HELP YOU AVOID GOING OUT OF BUSINESS
At Delancey Street, we’re not just about debt relief; we’re about helping your business so that you can thrive. We understand you’re a business owner who was placed under immense pressure by unfair MCA terms. Our one, and only, goal is to keep you out of court, reduce what you owe, and protect your livelihood.

CASE CONSEQUENCES: WHY FIGHTING BACK MATTERS
If you let a predatory MCA go out of control, you risk more than just fees.

• Asset Seizure
  Lenders that have a confession of judgment can freeze your personal and business bank accounts. As a result, you lose access to vital cash flow.
• Permanent Damage to Credit
  Missed or late payments that go unaddressed can destroy your credit score. As a result, your future loan applications will be denied or have higher interest rates.