How Delancey works in Chicago
Chicago, Illinois business owners come to us at every stage of distress, from "we just took a stack and can't make Friday" all the way to "we're in default, sued, and the COJ has been filed." The right move depends on where you are in the timeline. We start with a free, confidential conversation and lay out the real options for your situation.
What makes Delancey different in Chicago, Illinois is depth: our principals come from finance and law, not call centers. Every plan is built and reviewed by our senior-advisor team; where legal matters arise, independent counsel from our network is engaged directly with you. Free consultation, escrow held in your name, and a track record we'll put in writing.
What we settle in Chicago
The Chicago legal landscape
Chicago business owners deserve to know the legal terrain before negotiating. Most MCAs are structured as purchase-of-receivables agreements, which courts have generally treated as non-loans, meaning state usury caps don't apply directly. But character-of-the-transaction challenges (Amerifactors, Champion Auto, Davis v. Richmond) are reshaping the playbook, and several states now require commercial financing disclosures.
IL Predatory Loan Prevention Act (2021) caps consumer loans at 36% APR, does not directly cover commercial MCAs.
Chicago usury thresholds vs. typical MCA effective rates
The same numbers from the card above, plotted against where MCA effective rates actually land. Anything past the criminal cap is fighting ground in a recharacterization argument.
Where we appear
The MCA disputes that end up in court tend to land in a small set of venues. These are the ones we know best in Chicago:
- 01 Cook County Circuit CourtLargest unified trial court in the country, venue for nearly all Chicago commercial collection actions.
- 02 U.S. District Court for the Northern District of IllinoisFederal venue for diversity-jurisdiction MCA disputes and removed cases.
- 03 Illinois Appellate Court (1st District)Hears appeals from Cook County Circuit, including commercial finance and creditor-debtor matters.
Need help with your MCA debt?
Tell us about your situation. A senior advisor, not a sales rep, will review your case and respond within 30 minutes with a clear action plan. Free consultation, no obligation.
Industries we work with
Chicago's economy isn't monolithic. The businesses we settle for skew toward:
How to pick a settlement company in Chicago
The business debt settlement space attracts churners. Here's the short version of what to look for, and what to walk away from.
- Senior advisor or attorney on every call
- Written engagement, fee structure on day one
- Escrow account in your name, not theirs
- Track record they will name in writing
- Honest about timeline, written, engagement-specific plan at intake (no marketing promises)
- Promises specific reduction percentage on day one
- Won't put advisor names or credentials in writing
- Pushes you to stop paying immediately, no plan
- "100% guarantee", nobody can guarantee that
