Houston Merchant Cash Advance Attorney
Hey there! If you’re a small business owner in Houston who‘s taken out a merchant cash advance (MCA) and is now struggling with payments, you’ve come to the right place. I totally get it – I’m an attorney here in Houston and I work with local business owners like you all the time.Let me start off by explaining what an MCA is, just real quick. It‘s basically when a company gives you a lump sum of money upfront, and then takes a percentage of your credit card sales every day or week to pay themselves back, plus a big fat fee. They’re not technically loans, but they sure can feel like it!I see you nodding your head – you know exactly what I’m talking about. The payments are killing your cash flow and you’re not even sure when you‘ll pay it off. On top of that, the MCA company is calling you nonstop and threatening to sue. I’ve been there too – it‘s stressful!But don‘t worry – there are a few things we can do to take control of the situation. Here’s my advice, coming from real experience working with Houston business owners in your shoes:
Negotiate With the MCA Company
First things first – have you tried talking to the MCA company about lowering your payments? I know, I know – they can be real jerks about this stuff. But it never hurts to ask! Be honest and let them know you want to pay, you just need some relief.If that doesn‘t work, let me reach out to them. I’m an attorney so they have to talk to me. I can often get them to lower payments, waive fees, or extend the payback period. If they give me any flack, I‘ll politely remind them that no one wins if they sue you and force your business to close.
Review the MCA Contract
This is so important – we need to review your MCA contract to see if there‘s anything sketchy or illegal going on. Lots of these companies love slipping in hidden fees and absurd default clauses. It’s shady!As your attorney, I can dig through the fine print and find ways the contract favors them over you. If we find anything fishy, that gives us leverage to get the MCA company to back off. I live for stuff like this!
Explore Other Financing Options
MCAs target desperate business owners who have no other way to get capital quickly. But now that you have some breathing room, we should look at alternatives like small business loans or lines of credit.I have great relationships with banks and credit unions here in Houston. I can help you put together an application that makes you look as strong as possible as a borrower. Getting a loan at a reasonable rate could save you a ton of money in the long run.
Fight Back Against an MCA Lawsuit
Uh oh – sounds like you got served with a lawsuit by the MCA company. That sucks, but don’t panic! This is more common than you’d think. The good news is, we can fight back.As your attorney, I’ll handle the whole messy lawsuit process for you. I’ll dig up every possible defense against their claims and make sure you don’t get steamrolled. My goal is to get the lawsuit dismissed or at least settle on terms much better than what they’re demanding. You focus on your business and let me worry about the lawsuit.
Get Debt Relief Through Bankruptcy
I know, I know – bankruptcy is a last resort. But if you’re drowning in MCA debt and other bills, it may be your best option. Filing for Chapter 7 or Chapter 13 bankruptcy stops collections and wipes out or restructures your debts.As a Houston bankruptcy attorney, I can advise if you qualify and walk you through the whole process start to finish. Bankruptcy gives you a fresh start so you can keep your business open and rebuild. There’s no shame in it if it’s the right move!Anyway, I hope this gives you a good overview of how an attorney like myself can help with MCA issues! I know firsthand how stressful and confusing it can be. You can beat this thing with the right legal strategy.