Tampa MCA Defense Lawyers Business Debt Relief
Tampa MCA Defense Lawyers Who Provide Business Debt Relief
Are you a small business owner who is overwhelmed by merchant cash advances you took when you were struggling? Are you unsure about how to protect yourself from aggressive MCA providers in Tampa who are threatening you, your family, or your business? We can help you.
Who We Are
We are DelanceyStreet.com—a top tier business debt relief company based out of NYC, and we help clients nationwide. We’ve seen firsthand how merchant cash advances (MCAs) can become toxic, and that can threaten your business. We have experience handling toxic MCA debt, and have handled 10’s of millions in business debt. If you’re struggling, we can help
What is an MCA, and Why Can it Become a Problem?
An MCA, or merchant cash advance, is financing that was designed to give you a quick lump sum in exchange for a percentage of your future sales. It can sound simple, right? Wrong. Daily or weekly withdrawals can quickly pile up, especially if your business income slows down. MCA lenders are required to reconcile which means if your revenue goes down, their daily/weekly payment has to go down. Unfortunately, many of them do not do that – and as result, it can put you out of business.
Crimes and Penalties Involved
Criminal and civil penalties that are associated with MCA debts can include fraud-related charges if the lender believes you misrepresented your finances. For example – if you sent fake bank statements, that can be used as a way to say you’re doing fraud. These charges, that are serious in Florida, might result in fines or even jail time if the court finds that there was intent to deceive. You can learn more about potential penalties by visiting official websites like the Florida Attorney General Office or the Consumer Financial Protection Bureau (CFPB).
Penalties that May Happen
- Seizure of Assets: Assets that were used as collateral might be confiscated.
- Damage to Personal Credit: A personal guarantee that was signed can put your own credit on the line.
- Lawsuits: A lender who was owed money can file a civil suit. This might trigger bank account levies if the case goes against you.
- Potential Criminal Consequences: If there is an accusation of fraud, then there may be possible criminal charges.
Why DelanceyStreet.com?
We, at DelanceyStreet.com, know that lenders want to get paid. We also know you want to protect your business. Lenders don’t want to put you out of business, they’d rather make a deal. By leveraging our experience, we can step in and negotiate better terms. We can help you explore strategies that involve adjusting payments, lowering interest, or reducing the total amount owed.
Strategies We Use to Defend You
- Detailed Case Evaluation: We review documents that were signed by you and look for sections of the agreement that are unfair or unenforceable. Once we find these sections, we use them to push for a better outcome.
- Negotiation with Lenders: We talk to MCA providers who want to collect on the debt, and we work to find a solution that benefits both parties.
- Confession of Judgment (COJ) Defense: Confessions of judgment that were signed might allow a lender to get a judgment without a trial. We know some lenders use these illegally, and incorrectly, and without legal help you won’t have a way out of it.
- Potential Counterclaims: If a lender violated Florida’s laws that regulate lending, then we can file counterclaims. Winning a counterclaim can reduce or eliminate what you owe.
Criminal Defense for MCA-Related Accusations
Did a lender who was suspicious accuse you of fraud? Criminal charges are scary, but that doesn’t mean you’re out of options. Here are some examples:
- Fraud Allegations: A prosecutor who was assigned to your case might argue that you lied on an application.
- Check Kiting or Wire Fraud: Authorities who are looking for suspicious bank transfers may accuse you of wrongdoing.
Consequences of a Criminal Conviction
A conviction that was tied to MCA fraud can lead to prison time, probation, or high fines. This can force you to shut down your company, lose professional licenses, and more.
Government Agencies You Should Know
The Federal Trade Commission (FTC) and the Department of Justice (DOJ) often look into unfair lending practices and fraud. If you think you’re dealing with illegal behavior, consider filing a complaint with these agencies. Doing so might help your defense if the MCA provider that was harassing you is breaking the law.
Our Promise to You
We’ll give you a no-risk consultation, and we’ll explain all possible outcomes. We’ll also be honest about your chances of success, because every situation is different.
Business Debt Relief Options
Sometimes, a strategic route is a workable solution:
- Debt Restructuring: We may work with lenders so they agree to reduce interest or extend your repayment timeline. This allows you to stabilize your monthly budget.
- Debt Consolidation Loans: A new loan that was used to pay old ones can simplify your life. If you qualify, you might see fewer monthly payments and a potentially lower interest rate.
- Invoice Factoring: If you have unpaid invoices, factoring companies buy them at a discount, giving you immediate cash flow so you can pay off other obligations.
Frequently Asked Questions
Q: Is it possible I’ll lose my house if I can’t repay a merchant cash advance?
A: If you signed a personal guarantee that was tied to your property, the lender might pursue your assets. However, we can negotiate or defend you in court.
Q: How long does the process take?
A: Each case is different, but resolving MCA-related debt can take weeks or months. We move quickly, because daily payments add up fast.
Q: Can this debt show up on my credit report?
A: Yes, it can. Missed payments or defaults can negatively affect your score. When we reduce or restructure your debt, your score might improve over time.
Contact Us for a Consultation
We stand by you, whether you’re in Tampa or somewhere else in the U.S. Our passion is helping businesses escape drowning debt and fighting unfair lenders. If you’re feeling overwhelmed, we can help you.