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Atlanta Merchant Cash Advance Lawyers and Business Debt Relief

Running a small business is tough. Between managing employees, keeping customers happy, and trying to turn a profit, things can get overwhelming fast. And when money gets tight, it’s easy to make desperate decisions that end up harming your business in the long run.That’s where working with the right Atlanta merchant cash advance lawyers can make all the difference. These legal experts understand the complex laws around business cash advances, merchant loans, and other alternative small business financing options. They can help you:

  • Get out of predatory contracts
  • Renegotiate unreasonable repayment terms
  • Settle debts for less than you owe
  • Consolidate multiple loans into one manageable payment

And in some cases, they may even be able to:

  • Challenge the validity of debts in court
  • File for bankruptcy protection for your business

The key is finding lawyers who really understand this niche area of law – not all business or finance lawyers have the right experience. In this article, we’ll walk through everything you need to know about working with merchant cash advance lawyers in Atlanta.

Common Small Business Financing Options

First, let’s quickly review some of the financing options businesses commonly use besides traditional bank loans:

  • Merchant Cash Advances – These advances provide you with a lump sum of capital in exchange for a percentage of your future credit card and debit card sales over a set period of time. Because they don’t look at your business’ credit score or financial history, they’re easy to qualify for. But the repayment terms are often unreasonable.
  • Alternative Business Loans – Online lenders like Kabbage, OnDeck, and Fundbox provide loans to small businesses based on simple application forms rather than extensive documentation. But their interest rates are sky-high.
  • Equipment Financing – With equipment financing, you can spread out payments for new equipment over several years. But if you fall behind, the lender can take back the equipment.
  • Factoring – Factoring lets you sell your accounts receivables to a funding company to raise money faster. But you’ll receive less than the full value of the invoices.

As you can see, while getting fast financing may provide temporary relief, the long term costs are often unsustainable for small businesses.

Problems With Predatory Lending

Most business owners who get merchant cash advances or alternative small business loans don’t realize what they’re getting themselves into.The application process seems quick and easy. You likely fill out a simple online form and then get a term sheet showing the lump sum you qualify for. The payments even adjust based on your monthly sales, which seems appealing.But once you read the fine print, you realize just how unreasonable the terms really are. Here are some of the common issues:

  • Excessively high interest rates – Some merchant cash advance companies charge the equivalent of over 200% APR!
  • Short payment terms – You may have less than a year to pay back even a large advance.
  • Variable payments – Monthly payments fluctuate based on sales, making it hard to budget.
  • Onerous penalties – Miss even one payment and you may owe the full remaining balance.
  • Personal guarantees – Business owners often have to personally guarantee repayment.
  • Daily debits – The lender may debit a percentage of daily credit card sales.
  • Lack of transparency – Statements often don’t show how remaining balance is calculated.
  • Auto-renewals – Some agreements auto-renew unless actively cancelled in a short window.

These terms make it almost impossible to get out of debt. And even if you manage to scrape together the payments each month, so much of your revenue goes to the financing company that it’s hard to operate sustainably.Many small business owners feel trapped and overwhelmed. Some even resort to closing down their business to get out from under the debt burden.

How Can Merchant Cash Advance Lawyers Help?

The good news is that merchant cash advance lawyers can help you regain control over your finances. They understand all the tricks these predatory lenders use to take advantage of small business owners.An experienced attorney can review your agreements to find potential loopholes that could let you:

  • Get out of the contracts entirely
  • Renegotiate the terms
  • Settle existing debts for less than you owe

The specifics depend on the language in your particular contracts. But some potential options include:

  • Contesting unlawful provisions – Some merchant cash advance agreements contain clauses courts have deemed unlawful. If so, those provisions may be invalidated.
  • Collecting violations evidence – Lenders must follow state and federal lending laws. Evidence they violated these laws can invalidate debts.
  • Filing complaints – If lenders engage in predatory behavior like harassment or fraud, complaints can strengthen your case against them.
  • Claiming unenforceability – Reasons like unsigned agreements or lack of transparency could make contracts unenforceable.
  • Proving unaffordable payments – Evidence that payments exceed your reasonable ability to pay may invalidate debts.
  • Seeking damages – If lenders used deceptive tactics or caused damages, you may be able to recoup losses.

The first step is partnering with a merchant cash advance lawyer for a free case review. From there, your legal team can determine the best strategies and moves based on your unique situation.

What Makes a Good Merchant Cash Advance Lawyer?

Not all lawyers have the right skills and experience to take on alternative finance lenders in court. When researching attorneys, look for these key qualifications:

Specialized Expertise

The laws around small business loans and merchant cash advances are complex – and constantly shifting. You want a legal team focused specifically on this niche.Avvo and LawInfo let you browse lawyers by practice area. Only consider those who specialize in small business financing.

Record of Success

Make sure any lawyer you’re considering can point to a proven track record with relevant cases.

  • Do they have experience negotiating, settling, or invalidating this type of business debt?
  • Can they provide references from past small business clients?
  • Do they have case studies available to showcase success stories?

Don’t risk your business’ future on unproven attorneys. You want confidence they can deliver results.

No Upfront Costs

Reputable merchant cash advance lawyers work on a contingency fee basis. This means you don’t pay anything upfront or out of pocket.Instead, the law firm receives an agreed upon percentage of any savings they achieve for you. So they only get paid if they successfully reduce or invalidate your debts.Avoid any lawyers asking for retainers, hourly fees, or other upfront payments. If they believe in their abilities, they’ll work to earn their fee through results.

Free Consultations

Before committing to legal representation, a good lawyer will provide a free, no-strings-attached consultation. This gives you the chance to:

  • Explain your unique situation
  • Ask questions about their experience and results
  • Assess whether their approach seems right for your case

You shouldn’t have to pay anything until you agree to work together and sign a fee agreement.

Ongoing Communication

The legal process often feels mystifying when attorneys don’t provide transparency. Make sure yours commits to keeping you looped in at every stage.Look for lawyers who:

  • Give frequent status updates
  • Explain legal strategies in simple terms
  • Involve you in key decisions
  • Respond promptly to questions

You want confidence they’ll fight for the best possible outcome for your business.

Other Services: Debt Relief & Consolidation

Besides helping get you out of individual predatory contracts, merchant cash advance lawyers may also provide assistance with:

Debt Settlements

If you have multiple outstanding loans or advances, attorneys can often negotiate global settlements for a fraction of what you owe. This provides immediate financial relief so you can focus on business operations.

Debt Consolidation

Consolidating multiple debts into a single loan allows you to manage just one monthly payment at a reasonable fixed interest rate. Lawyers can facilitate this process and negotiate terms on your behalf.

Bankruptcy Filing

While always a last resort, filing for Chapter 7 or Chapter 11 bankruptcy may be your best option after years of predatory lending. Attorneys can guide you through this complex process to discharge debts and start rebuilding.The right business finance lawyer has your back through all these services. So don’t struggle alone – seek experienced legal guidance. Within one free consultation, an attorney can start mapping out a personalized path forward.

Finding the Best Merchant Cash Advance Lawyers in Atlanta

If you signed a merchant cash advance, business loan, or other financing agreement with unreasonable repayment terms, don’t panic. The skilled Atlanta attorneys at Delancey Street can help.Our legal team has successfully challenged, invalidated, and renegotiated hundreds of similar contracts on behalf of Georgia small business owners. And because we work on a contingency basis, our services cost nothing unless we achieve financial relief for your business.





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