There’s tremendous amounts of SEO nonsense on the internet. Our goal at Delancey Street is to give you the unfiltered, raw information you need to make a real decision.
“MCAs aren’t loans, they’re purchases of future receivables.” “Look for an experienced attorney.” These are things you’re reading all over the internet.
Now let’s talk about what to expect when you hire counsel about MCA debt.
Let’s skip the basics entirely. If you don’t know what a COJ is or why MCAs, when converted to APR equivalents, can cost far more than a typical bank loan, go read the bottom-shelf articles first.
01Negotiation support. Legal help when needed.
We handle business debt negotiations. Independent counsel handles legal advice and representation. These roles can work together; you do not have to wait for a lawsuit to ask an attorney about your agreement.
If you receive a lawsuit, judgment, or notice with a deadline, get legal guidance promptly. Tell us about the situation so our negotiation work can be coordinated with your attorney.
02Questions about the contract belong with counsel
MCA agreements can raise questions about guarantees, court provisions, payment terms, and collection rights. Independent counsel can review your documents and explain what those terms mean for your circumstances.
Our role is to organize the financial picture and discuss proposed settlement terms with your funders. We do not choose legal claims, court venues, or litigation tactics.
03Revenue down? Start with the financial picture.
Gather recent statements, current balances, and payment schedules. If you have made a reconciliation request, keep the request and the funder’s response with those records.
We can discuss potential adjustments with the funder. Independent counsel can explain any reconciliation provision and the legal consequences of a response. A denied request does not automatically cancel the agreement or change what you owe.
04Multiple advances need a coordinated review
Put every funder, balance, and payment schedule in one place. We use that information to discuss realistic proposals across your debts, with your operating needs in mind.
Starting negotiations does not change payment obligations. We do not recommend blocking debits, moving receivables, or missing payments to create leverage. Questions about liens, guarantees, or creditor rights belong with independent counsel.
Need help with your MCA debt?
Tell us about your balances, payments, and cash flow. A senior advisor will discuss our settlement process with you. Free consultation, no obligation. Legal questions belong with independent counsel.
05Considering bankruptcy or closing the business?
Those decisions deserve independent legal advice. Bankruptcy counsel can review eligibility, costs, and possible effects on the business and any guarantees.
We do not recommend bankruptcy as a negotiating threat or promise what a filing would accomplish. We focus on whether a proposed settlement can be funded and whether your creditors will agree.
06Ask clear questions before you hire anyone
Ask what work is included, who will do it, how fees are charged, and what risks remain. For an attorney, ask about relevant experience and the scope of representation. Past results do not predict your outcome.
For our team, the conversation starts with your financial position and potential settlement options. You review the offers and decide whether to accept. No specific outcome is guaranteed.
Questions to ask before hiring an attorney
- Ask the attorney for case names of recent MCA matters.
- Ask how many MCA matters they've handled in the last 12 months.
- Ask for the outcome of the last three.
- Ask how they bill: hourly, flat-fee, contingency.
- Get a realistic budget for your specific situation in writing.
Frequently asked
Is Delancey Street a law firm?
No. Delancey Street is a business debt-relief company. We are not a law firm and do not provide legal advice or legal representation. When a matter requires legal work, we refer you to an independent attorney we have worked alongside. The attorney–client relationship is between you and that attorney, not Delancey.
How much does it cost?
Ask for written terms explaining our negotiation fees and any separately arranged attorney costs. Independent counsel provides legal advice and representation directly to you. Any cost arrangements depend on the applicable engagement terms.
Can my advisor work with my attorney?
Yes. Our advisors handle financial proposals and funder negotiations. Independent counsel handles legal advice and representation directly with you. Any attorney-cost arrangements are subject to your engagement terms; ask us to explain them in writing.
What's a Motion to Vacate a COJ?
A motion to vacate asks a court to undo an entered judgment. Independent counsel can review whether a motion or another legal response is available in your circumstances. Delancey Street does not evaluate grounds or prepare court filings.
