Jersey City MCA Defense Lawyers Offer Hope for Small Businesses Struggling with Debt
Running a small business is tough. Really tough. You have to manage employees, inventory, marketing, regulations – the list goes on. And if money gets tight, it can feel impossible to dig your way out.But there is hope. The team at Delancey Street has years of experience helping small business owners find financial freedom. Their attorneys can help you understand the legal options to restructure or settle your business debt.
How Did We Get Here? Small Business Debt in Jersey City
Jersey City has over 16,000 small businesses supporting the local economy. From family-owned stores to innovative tech startups, small business owners are the heart and soul of this community. But it’s no secret that the last few years have been brutal.The pandemic completely upended normal operations. Many businesses took on loans or entered agreements just to stay afloat, hoping they could pay it back when things turned around.But then supply chain issues hit, inflation skyrocketed, and labor shortages made it hard to operate smoothly. Now, tons of these Jersey City small business owners are barely keeping their heads above water. They’re falling behind on payments, drowning in debt, and facing financial ruin.It’s an incredibly stressful and scary situation. Collections calls start coming in, threatening legal action. Many small business owners in Jersey City feel ashamed and embarrassed about their financial troubles, wondering if they’ve failed.
Alternative Finance Options Often Lead to Crippling Debt
In desperate times, business owners explore alternative lending options outside the traditional banking system. Online merchant cash advance (MCA) companies seem appealing since they quickly provide capital without requiring strong credit scores or financial statements.But MCAs often have astronomical interest rates and aggressive collection tactics. Business owners can easily get trapped in toxic debt cycles. A $10,000 MCA can end up costing a business $40,000 after just 18 months!Attorney Samantha Lee explains, “The MCA industry operates in a regulatory gray area. Many funders exploit loopholes to charge outrageous rates and fees that should be illegal. But right now, they’re getting away with it at the expense of struggling business owners.”
Legal Options Offer Hope
The good news? There are legal options to resolve crippling small business debt—without closing up shop for good. The expert team at Delancey Street leverages various state and federal laws to help their clients regain solid financial footing.According to John Delancey, founder of Delancey Street, “We’re able to negotiate settlements that reduce what struggling businesses owe by up to 90% in some cases. Our dedicated attorneys fight to protect the rights of small business owners so they can save their livelihoods.”
How The Process Works
The debt relief process with Delancey Street has 3 simple steps:
- Consultation: The first step is to schedule a free consultation. You’ll share your story in a judgement-free zone and learn about your legal options.
- Representation: If it seems like a good fit, you can hire Delancey Street to represent you. Their attorneys will formally notify creditors and start negotiating settlements on your behalf.
- Freedom From Debt: Over the following months, your attorney will leverage state and federal laws – fighting aggressively on your behalf – to secure much lower payoff amounts with your creditors.
Once settlements are secured, you get the fresh start you’ve been waiting for. No more harassing calls or crippling payments dragging you down each month. Just peace of mind and a clean slate.
Meet The Attorneys Fighting For Jersey City’s Small Businesses
The secret weapon at Delancey Street is the team of legal experts with decades of combined experience helping small business owners escape crushing debt. Here are a few of the passionate attorneys fighting for Jersey City:
Samantha Lee, Senior Associate
Samantha worked at the MCA law firm Burke Capital for 3 years before joining Delancey Street. She saw firsthand the damage predatory lending does to hardworking business owners. Samantha now leverages her expertise of the MCA industry’s questionable practices to secure amazing debt relief outcomes for clients.
Tom Chang, Debt Resolution Specialist
A native of Jersey City, Tom Chang built his first business right here in the neighborhood. He has an intimate understanding of the challenges facing local business owners. Tom is a zealous advocate for the rights of small businesses.
Susan James, Attorney
Susan came to Delancey Street after a decade working in consumer protection law. She was appalled to discover how unregulated alternative business financing operates today. Susan won’t rest until there is better oversight and transparency in place to prevent the systemic abuse of small business owners.
Jersey City Deserves Better
At Delancey Street, we believe small business owners are the backbone of our community. You work incredibly hard to build something special and deserve support. Predatory lending practices are failing good, hardworking people who need access to ethical financing.We’re here to help you move towards real financial freedom…one case at a time. Our experienced attorneys know exactly how to leverage the law to your advantage.If you’re struggling with overwhelming business debt, give us a call today at 212-210-1851 and take the first step towards relief. This battle is too important to fight alone. Together, we can help Jersey City small businesses thrive again.
