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Delancey Street Helps Business Owners Regain Control

Each year 10's of thousands of business owners struggle.

Join The Program

Fill out our contact form. We'll reach out and conduct a thorough assessment of your situation, and how we can help you. Our goal is to understand your situation, and determine if our program is the right for you, and the type of debt you have.

We Work With You

Once we determine our program is right for you, we start working on your behalf. We conduct a thorough evaluation of the type of debts you have, and put together an action plan on what a realistic, and beneficial outcome would look like for each debt.

We Get Results

The final step is the most important, we restructure your debt and put you in a better position than we found you. We work with you to adhere to the new debt restructuring program, and are with you every step of the way to make sure your business is thriving.

Program Results

$450K Merchant Cash Advance

Extra 24 Months

Transformed into a monthly payment, and extended by 2 years, with a 15% reduction in balance.
$110K Merchant Cash Advance

55% Reduction

Transformed into a monthly payment, and extended by 2 years, with a 55% reduction in balance.
$100k Business LOC

50% Redution

Our client had an LOC with a MCA hybrid lender, and saw a drastic reduction in balance.

How We Help

Business debt settlement through Delancey Street involves restructuring your corporate debt, in a manner that allows you to keep your doors open, and results in an increase in cashflow.

Get a affordable plan that works for your business cash flow as a part of the debt settlement process.

Get potential resolutions with Delancey Street in a timely and effective time frame once you enter our debt relief program.

You Have a Powerhouse team of financial and legal experts on your side, advising you on how to interact with predatory creditors.

5 Star Google Rating trusted by 100's of people who are struggling with business debt.

Minneapolis Merchant Cash Advance Legal Help – Attorneys, Debt Settlement

Merchant cash advances can be a great financing option for small businesses, but they also come with legal risks. If you’re a Minneapolis business owner who has run into issues with your merchant cash advance provider, you may need legal help to resolve the situation. Here’s an overview of common merchant cash advance legal issues in Minneapolis and how an attorney can assist.

Understanding Minneapolis Merchant Cash Advance Laws

Minnesota has specific laws regulating merchant cash advances (MCAs). Some key aspects include:

  • Interest rate caps – MCAs are not considered loans under Minnesota law, so they are not subject to state usury caps on interest rates. However, some city ordinances impose rate limitations. For example, Minneapolis caps interest rates on MCAs at 8 percentage points above the Federal Reserve discount rate.
  • Disclosure requirements – MCA providers must disclose certain information before finalizing an agreement, like the advance amount, fees, payment amount and frequency, and more. Failure to properly disclose can make the agreement void.
  • Unfair practices – State consumer protection laws prohibit unfair or deceptive conduct in MCA transactions. This provides recourse if a provider uses predatory tactics.

Understanding these laws is the first step in determining your rights and options for challenging any issues with your MCA company. An attorney can advise if your agreement violates any Minneapolis or Minnesota statutes.

Common Minneapolis MCA Legal Issues

Some typical legal issues that can arise with Minneapolis merchant cash advances include:

Excessive Rates & Fees

Some MCA companies charge excessively high rates and fees that violate industry standards or Minneapolis interest rate ordinances. An attorney can review your agreement and fees to determine if you have grounds to dispute excessive costs.

Non-Disclosure of Terms

If an MCA provider fails to properly disclose fees, the payment amount, the advance amount, or other terms, the agreement may be void. This means you could have grounds to invalidate the agreement and not repay the advance.

Breach of Contract

Sometimes providers violate terms of MCA agreements, like suddenly raising daily repayment amounts without notice. This could constitute breach of contract, again giving you leverage to fight the agreement.

Unfair Lending Practices

If a provider misled you about costs or terms, strong-armed you into accepting an MCA, or engaged in other unfair tactics, state and federal consumer protection laws may provide recourse.

Aggressive Collections

Merchant cash advance companies sometimes use aggressive collections tactics like harassing calls or unlawfully accessing your accounts. There are laws prohibiting such conduct.

Working with a Minneapolis MCA Attorney

If you suspect unfair or unlawful conduct by a merchant cash advance provider, contacting an attorney is wise. Here’s how an attorney can help:

  • Reviewing the MCA agreement – Analyzing terms, fees, disclosures, and other aspects to uncover potential violations.
  • Assessing your rights and options – Determining the strongest legal arguments to fight the MCA or provider conduct.
  • Negotiating a settlement – Leveraging those arguments to negotiate a reduced payoff amount or favorable settlement.
  • Pursuing litigation – If necessary, filing lawsuits over contractual breaches, insufficient disclosures, or illegal lending practices.
  • Defending collections – Responding to unlawful collections efforts and halting harassment.
  • Facilitating refinancing – Helping replace predatory MCAs with fairer forms of small business financing.

Having an experienced lawyer in your corner levels the playing field against unscrupulous merchant cash advance companies. They understand Minneapolis laws and can deploy the most effective strategies for blocking unfair agreements and stopping mistreatment. Don’t hesitate to discuss your situation with an attorney before it escalates.

Finding Minneapolis MCA Legal Help

If you need legal assistance with your Minneapolis merchant cash advance, where can you turn? Here are good options for finding a qualified lawyer:

Minneapolis Consumer Law Firms

Look for Minneapolis law firms focusing specifically on consumer law, consumer rights, and financial disputes. They frequently handle MCA issues and understand applicable state and city statutes. AvvoLawInfo, and FindLaw all list qualified local consumer attorneys.

Minnesota Bar Association

Contact the Minnesota State Bar Association or Hennepin County Bar Association for referrals to Minneapolis lawyers with experience fighting merchant cash advance issues.

Ask Other Local Businesses

Talk to other Minneapolis small business owners about legal challenges with MCA companies. They may recommend attorneys who successfully assisted them.Meeting with one or more lawyers for a free initial consultation is wise. This lets you evaluate expertise and compatibility so you can make the best choice for your situation. With an experienced attorney assisting you, there are many ways to challenge predatory or illegal MCA conduct. Don’t endure mistreatment – fight back.

Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

"Super fast, and super courteous, Delancey Street is amazing"
Leo
$500,000 MCA Restructured Over 3 Years
"Thanks for helping me in literally 24 hours"
Jason
$250,000 SBA Loan Offer in Compromise
"Great choice for business owners who need a trustworthy partner"
Mary
$350,000 MCA Restructured Over 2 Years

In The Media

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