Criminal Defense Lawyers

Wyoming MCA Defense Lawyers Business Debt Relief

Are you a Wyoming business owner who was threatened by a merchant cash advance (MCA) provider? We are DelanceyStreet.com, a top tier business debt relief company, and we understand how frustrating this can be. We know you don’t want to shut down your business; you just need a way out.

WE FIGHT FOR YOU

We help clients nationwide, including those in Wyoming, who need protection from MCA lawsuits and aggressive MCA lenders. Our team knows the tactics that are often used by MCA providers.

What Is a Merchant Cash Advance? A merchant cash advance is not a traditional business loan. It is money that was provided to you in exchange for a percentage of your future credit card sales. This is an option that was designed to give you fast cash, but it often comes with very high fees and strict repayment rules. This means daily or weekly deductions which can hurt your cash balance, this creates major stress. When you can’t keep up, the MCA lender will inevitably threaten to sue you, or file a COJ and enforce a personal guarantee that was part of the agreement.

Potential Penalties and Crimes Some business owners worry about criminal charges. Usually, merchant cash advance defaults are handled as civil matters. However, fraud can become an issue if you provided fake bank statements, or if the lender believes you tried to hide assets. Fraud that was proven could result in serious consequences, including financial fines or even possible jail time. The consequences of a fraud conviction can follow you for life, and your reputation could be destroyed, which means your future business plans might fail.

Possible Lender Perspective Your lender just wants to get paid back, and your lender might see your financial struggles as a reason to demand immediate repayment. Your MCA lender can file lawsuits, freeze your bank accounts, freeze your credit card processor, or go after personal assets. When this happens, you should not ignore the problem at hand. If you ignore it, the lender can get a default judgment that was ordered by a court. Some predatory lenders prefer you default on the MCA loan – because they can tack on punitive fees, legal fees, etc, and they make more money that way.

Our Defense Strategies

1. Contract Review
   We look for hidden clauses that were unfair, or language that was misleading. If the contract violates Wyoming law (see the Wyoming Legislature’s official website for statutes on commercial transactions), it can be challenged in court.
2. Usury and Licensing Issues
   We examine factor rates that were charged by the MCA provider. If the fees amount to criminally high interest, it could be seen as usury under certain interpretations of the law (see the Wyoming Attorney General’s official website for general consumer protection resources).
3. Violation of UCC Guidelines
   The Wyoming Uniform Commercial Code (UCC) has rules for business transactions. A lender who was acting outside these rules could face setbacks in court.

DEFEND YOURSELF, DEFEND YOUR BUSINESS

Any lawsuit that was brought by an MCA provider can hurt your future. When a judgment is entered against you, it can damage your credit, increase your debt, and prevent you from getting more funding. A judgment that remains unpaid can also lead to garnishment or bank account freezes. These consequences can cripple your business, which might lead to layoffs or even closures.

DelanceyStreet.com Is On Your Side We have a dedicated team that offers you guidance, along with potential legal remedies. We are a NYC-based company, but we help clients all across Wyoming. We have attorneys who can stand between you and the MCA provider, so you can focus on running your business. We believe that open communication is key. By speaking to the MCA provider, we try to find solutions that are fair, and that prevent further harm.

HOW WE HANDLE WYOMING MCA CASES

1. Free Consultation
   We talk about your specific business needs, your issues, and we look at your merchant cash advance agreement. We then decide if you qualify for our program. We believe that you deserve a clear plan, so you can feel there’s a way out.
2. Detailed Debt Analysis
   Our team reviews your bank statements, any personal guarantees that were signed, and all communications with your MCA provider.
3. Negotiation and Settlement
   Once we identify any legal issues, we start negotiations with your creditors. This process might lead to reduced balances, a longer repayment plan, or a waiver of legal fees, and other punitive fees.
4. Litigation Defense
   If the MCA provider sues, we can help you create a strong defense.

CONSEQUENCES OF DOING NOTHING Some owners hope the problem goes away. It doesn’t. When you don’t respond to a lawsuit, you risk default judgments. Default judgments that were entered against you mean automatic loss, which increases your stress and your debt.