Boise MCA Defense Lawyers Business Debt Relief
If you run a small business in Boise and have found yourself struggling with debt, you’re not alone. Many business owners have gotten themselves into difficult financial situations, often through no fault of their own. The good news is there are options available to help relieve your business debt burden.
How Delancey Street Can Help With Business Debt Relief
Delancey Street is dedicated to helping business owners like you have a healthier relationship with money. We‘re not a law firm, but we work with attorneys as part of our comprehensive debt relief services.Our team has years of experience negotiating, settling, and restructuring business debt. We take an empathetic approach and assign a dedicated expert to walk you through the process. It‘s our goal to reduce your stress during this difficult time.
Our services include:
- Free consultation to review your situation
- Negotiating with creditors for reduced settlements
- Creating customized debt relief plans
- Helping restructure loans and payments
- Providing ongoing support and guidance
We know money issues can negatively impact your mental health. Our attorneys and financial experts make it their priority to ease your worries so you can get back to focusing on your business.
Common Causes of Small Business Debt
There are many reasons a small business might accumulate substantial debt:
- Unexpected slow periods or loss of a major client
- Large, unpaid invoices from customers
- Expansion costs exceed projections
- Emergencies like fires, floods, or theft
- Illness or injury preventing owners from working
- Predatory merchant cash advance (MCA) loans
This last item, MCA loans, has caused financial distress for many business owners recently.
The Risks of Merchant Cash Advance Loans
Merchant cash advances provide quick access to capital by essentially selling a percentage of your future credit card sales. The concept sounds straightforward, but these loans come with sky-high interest rates and aggressive collections tactics. It’s easy to get trapped in a never-ending cycle of debt.Some common issues with MCA loans:
- Interest rates ranging from 60% to 350% APR
- Required daily repayments regardless of sales
- Personal liability for the business owner
- Potentially having assets seized or bank account frozen
- Harassment from collectors if unable to repay
Our attorneys can review your MCA agreements to find potential violations of lending laws. In some cases, the loan terms may be ruled unenforceable.
MCA Defense Strategies From Our Legal Network
If you‘ve already entered into an abusive MCA contract, all hope is not lost. Delancey Street partners with attorneys who specialize in defending business owners from predatory lenders.They can help determine if your agreement violates state laws regarding:
- Usury interest rate caps
- Proper licensing for lenders
- Allowable collection activities
- Unfair contract clauses
In many cases, violations give grounds for invalidating part or all of the MCA loan. Our lawyers can then negotiate a settlement for a fraction of the balance owed.
Customized Debt Relief Planning
Every small business faces unique challenges when it comes to digging out from oppressive debt burdens. At Delancey Street, we tailor solutions to your specific situation.In addition to legal defense from unfair MCA loans, we can help organize your entire debt picture. Then we work on negotiating payment plans, restructuring loans, and settling with creditors.
As part of our process, we can help with tasks like:
- Document organization and review
- Budget analysis and cash flow projections
- Asset evaluation for potential liquidation
- Tax analysis for settlement implications
- Ongoing negotiations and communications
Having an experienced team in your corner makes navigating turbulent financial waters much more manageable.
There Are Always Options – Start Your Recovery Today
Dealing with substantial small business debt feels scary and overwhelming. The aggressive collections calls only heighten the stress. But you have more options than you realize, including potential legal defenses.Delancey Street offers comprehensive business debt relief services, combining financial consulting and legal support. We treat every client like family. Our empathy, dedication, and proven strategies empower business owners to resolve debt, relieve stress, and renew focus.To start mapping your path to financial freedom, call our team at 212-210-1851 for a free consultation. Our first priority is always helping owners protect their livelihoods and regain peace of mind. We’re here to help you get your business back on steady footing.
