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Columbus Merchant Cash Advance Lawyers and Business Debt Relief

Hey there! If you run a business in Columbus and have taken out a merchant cash advance, you may be struggling with some issues around paying it back. I totally get it – these loans can be tricky and the terms are not always clear upfront. But don’t worry, there are options and people who can help. I wanted to give you some info on merchant cash advance lawyers in Columbus who assist with debt relief for businesses.

What is a Merchant Cash Advance?

First, a quick 101 on what a merchant cash advance (MCA) actually is. An MCA is a form of business financing where the lender gives you an upfront lump sum of cash in exchange for a percentage of your future credit card and debit card sales over a set period of time.Unlike a regular small business loan with set monthly payments, merchant cash advances take a cut of your daily credit card receipts until the balance has been paid off – this is called the “payback amount.” The payback amount also includes fees and interest charges.

The Tricky Thing about Merchant Cash Advances

I don’t need to tell ya that running a small business is tough. Expenses pile up, cash flow gets tight, and you need money just to keep things going. An MCA seems like quick and easy money to bridge the gap.But here’s the catch – the terms of MCAs can be confusing. You may not realize just how much of your daily credit card sales are being syphoned off to pay back the advance, plus all those fees. It can really hurt your cash flow over time.And if your business has an unexpected slow period? Yikes. You still owe the same daily/weekly repayment amounts even if sales tank. It can spiral out of control real fast.

How Columbus Merchant Cash Advance Lawyers Can Help

This is where having an experienced Columbus merchant cash advance lawyer on your side can make all the difference. They understand the complex contracts and questionable tactics that some MCA lenders use.An MCA lawyer can help you:

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  • Review your merchant cash advance agreement and ensure you fully understand the terms, including the total cost of repayment. Some provisions may be unlawful.
  • Renegotiate the repayment structure if it has become unmanageable. This may include reducing the daily repayment rate.
  • Consolidate multiple merchant cash advances into one monthly payment. This greatly improves cash flow.
  • Declare the MCA contract null and void if unlawful stipulations are found. This releases you from repayment obligations.
  • Sue predatory MCA lenders for violations of state laws and recover damages. This includes “confession of judgment” clauses that allow lenders to raid your bank account. Not cool.
  • Explore debt settlement options. An experienced lawyer can negotiate discounts and favorable repayment terms.
  • Advise if declaring bankruptcy makes sense. Chapter 7 or Chapter 11 may discharge all or part of the cash advance debt.

As you can see, merchant cash advance lawyers have multiple strategies to relieve the burden these loans create. Now let’s look at a few top firms in Columbus I’d recommend.

Best Columbus Merchant Cash Advance Lawyers

Delancey Street Lawyers

Delancey Street lawyers are at the top of my list for reputable and aggressive representation for businesses struggling with predatory merchant cash advances. They have obtained millions of dollars in debt relief for clients through litigation and settlement negotiations.What I really appreciate about Delancey Street is how they analyze the specifics of your case and create a customized action plan. They won’t make promises they can’t keep or take actions that aren’t in your best interest. Transparency is key.While Delancey Street handles large, complex cases, they also assist smaller businesses. If an MCA lender has treated you unfairly or obligations have become unmanageable, I recommend reaching out. Initial consultations are free.




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$500,000 MCA Restructured Over 3 Years
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$350,000 MCA Restructured Over 2 Years

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