You’re here, because you need help. Let‘s cut the crap – merchant cash advances (MCAs) are predatory, they’re the loan sharks of 2023. But, take a deep breath, we’ve got your back.Defaulting, can destroy your business – it‘s that simple. The collectors, they don’t mess around, we’re talking frozen accounts, personal liability. But, you already know that, don‘t you?
Confessions of an MCA Broker
Listen up, I was an MCA broker, I’ve been in those sleazy boiler rooms. The sales tactics, they’re designed to deceive, “No personal guarantees required,” yeah right. The truth, you’re on the hook, every asset‘s on the line.But, it’s not just the brokers, the funders are ruthless too. Renewal after renewal, the debt spirals, that 30% factor rate, it balloons into economic death. I’ve seen it all, good people, crushed under interest.
When the Wolves Come Knocking
So, what do you do, if you get hit – with one of these things? The summons, the lawsuits, the threats of asset seizure? You fight back, that’s what.Because, here‘s the reality, these MCA companies, they’re not all-powerful. There are defenses, loopholes in the fine print, technicalities they‘ve overlooked. But, you need expertise, someone who understands the game.That’s where we come in.
A Relentless Ally in Your Corner
At Delancey Street, we leave no stone unturned, our attorneys, they‘re pit bulls. We analyze every angle, every clause, looking for leverage. Because, that‘s what it takes, to take on the MCA machine.It could be that the agreement was fraudulently induced, or there were TILA violations. Maybe the funder exceeded usury limits, or there was a lack of corporate formalities. We find that crack in their armor, and we exploit it, ruthlessly.And, we don’t just play defense, we go on the offensive too. Counterclaims, like RICO violations, fraud, deceptive practices – we hit them where it hurts. Because, these companies, they‘re not used to being challenged, not by a real fighter.
The Delancey Difference: Tenacity, Expertise, Compassion
It’s simple, every single client deserves honesty, and white glove service. We take a hands-on approach, researching every intimate detail of your situation. Our work ethic, it‘s unmatched, constant meetings, constantly strategizing.And, we get it, you might be embarrassed, ashamed of your circumstances. But, we encourage transparency, because that‘s how we win. With open dialogue, and an unflinching commitment to your interests.Look, the MCA world, it’s a jungle, filled with sharks. But, we’re the biggest, baddest predators in that jungle. We’re not intimidated by these companies, we don’t back down, ever.So, if you’re drowning in MCA debt, if the wolves are at your door, you know who to call. We’re Delancey Street, and we’re here to fight for you, with every weapon in our arsenal.1
The MCA Nightmare: A Cautionary Tale
Let’s talk about John, a small business owner, just trying to make it. John‘s dream, it was a quaint little cafe, locally-sourced ingredients, a community hub. But, then COVID hit, and like so many others, he was desperate for cash.That’s when the MCA broker came calling, with promises of easy money, no personal liability. John, he was skeptical at first, but the terms seemed manageable, a 1.3 factor rate. He took the advance, and for a while, things were okay.But then, the renewals started, one after another. Suddenly, that 1.3 factor rate, it had ballooned to over 2.0. The payments, they were crippling John‘s cash flow. He fell behind, and that’s when the real nightmare began.The phone calls, the threats, the summons – it was unrelenting. John‘s business accounts were frozen, his personal assets, they were on the line too. He was being sued for the full remaining balance, plus fees, plus more fees.That’s when John found us, and we went to work, analyzing that original agreement with a fine-toothed comb. And you know what we found? Violations, all over the place – TILA issues, usury limit breaches, you name it.We hit back, hard, with counterclaims and affirmative defenses. We exposed the MCA company‘s deceptive practices, their strong-arm tactics. And in the end, we got John’s debt reduced by over 60%.But, it wasn’t just a legal victory, it was personal too. We gave John back his life, his dream. He got to keep that cafe, keep serving his community. All because he had a fighter in his corner, someone who understood the MCA game.1
The Merchant Cash Advance Trap: A Legal Quagmire
You’ve heard the horror stories, right? Small businesses, lured in by the promise of fast cash, only to find themselves drowning in debt. The dreaded merchant cash advance, it’s an insidious product, designed to entrap.But, let‘s back up for a second, what exactly is an MCA? Well, it‘s technically not even a loan, at least not in the traditional sense. It’s a purchase of future receivables, a lump sum in exchange for a cut of your daily batched sales.Sounds harmless enough, right? Except, these agreements, they‘re riddled with deceit and obfuscation. Hidden fees, usurious interest rates, draconian terms – it’s a minefield of legal liabilities.And, let‘s be real here, the MCA industry, it preys on the vulnerable. Those struggling small businesses, the ones desperate for capital, they‘re the prime targets. Sold a bill of goods by smooth-talking brokers, who couldn‘t care less about the consequences.But, here’s the thing, you don‘t have to be a victim. There are defenses, legal strategies to fight back against these predatory practices. Unconscionability, fraudulent inducement, TILA violations – these are just some of the weapons in our arsenal.At Delancey Street, we’re not just attorneys, we‘re warriors for justice. We analyze every clause, every technicality, looking for that crack in the MCA company‘s armor. And when we find it, we go for the jugular, with counterclaims and affirmative defenses that hit them where it hurts.Because, let‘s face it, these companies, they‘re not used to being challenged. They’re bullies, plain and simple, used to pushing people around. But not us, we don’t back down, we don‘t flinch in the face of their intimidation tactics.So, if you‘re trapped in the MCA nightmare, if the debt is suffocating your business, know this: you have options. You have rights. And you have us, a team of relentless advocates, ready to fight for you every step of the way.1