Memphis Business Debt Settlement and Merchant Cash Advance Lawyers

Memphis Business Debt Settlement and Merchant Cash Advance Lawyers

Running a small business is tough. There‘s so much to manage – inventory, employees, marketing, growth plans, and of course, finances. It‘s easy for business owners to fall behind on bills or get trapped in expensive merchant cash advances or loans. If you find yourself struggling with business debt in Memphis, know there are good options and people who can help.

How Delancey Street Approaches Business Debt Relief

Delancey Street is a company dedicated to helping business owners resolve debt, achieve financial freedom, and build healthy money habits. While we’re not a law firm ourselves, we work closely with business attorneys to create customized debt relief solutions for our clients.Our approach is simple – we aim to make the process of getting out of business debt as smooth and stress-free as possible. Here are the three steps we follow with every client:

  1. Free Consultation: First, you’ll sit down for a no-obligation consultation with one of our small business debt relief specialists. They’ll review your full financial situation, answer any questions you have, explain your different options, and provide recommendations on next steps.
  2. Dedicated Specialist: If you decide to work with Delancey Street, you’ll be matched with a personal debt relief advisor who will be your single point of contact throughout the full process. They’ll create a tailored action plan based on your specific debts, budget, goals and ideal timeline.
  3. Customized Action Plan: Your dedicated specialist will negotiate settlements or restructures directly with your creditors and merchants. Typically we can resolve business debt for 30-50% less than what you owe. And we don’t get paid until after your debt is successfully reduced or resolved.

The best part? Our services won’t cost you anything until we achieve estimates debt settlement fees often range from 15-25% of enrolled debt. We only charge a small percentage of the savings once we’ve secured a positive outcome for you.

Common Memphis Business Debt Issues We Can Help With

From unpaid invoices to merchant cash advance nightmares, business debt takes many forms nowadays. Some of the most common situations we help Memphis companies address include:

  • Past Due Invoices: If you’re behind on payments to vendors or contractors, we can contact them directly to work out payment plans or discounted lump-sum settlements so you avoid collections.
  • Business Credit Cards: We secure lower payoff amounts and affordable payment plans on business credit card balances you’ve fallen behind on.
  • Merchant Cash Advances: These financing products seem quick and easy but the repayment terms are predatory. We can help you get out of merchant cash advance agreements without penalty.
  • Commercial Loans: You have options even if you default on a bank loan, SBA loan or other financing. We can negotiate with lenders for principal reduction, lower interest rates, or altered payment plans.
  • Business Tax Debt: Whether you owe back payroll taxes, sales tax, or other business taxes, we work with tax specialists to create reasonable IRS payment plans or Offers in Compromise.
  • Commercial Leases: If COVID forced you to close locations or reduce your brick-and-mortar footprint, we can help negotiate lease terminations without further financial impact.
  • Business Judgments: If you already have a legal judgment against your company for unpaid debt, there are still ways to resolve it without wage garnishments or bank levies.

Attorney-Based Approach for Optimal Outcomes

While Delancey Street’s debt advisors have strong legal knowledge themselves, we always involve business attorneys from our network when negotiating complex settlements. There are a few reasons why tapping experienced lawyers generally leads to better outcomes:

  • Leverage: Attorneys often command more respect from creditors. Their legal arguments or threats of litigation motivate merchants and lenders to offer reasonable compromises.
  • Expertise: Veteran business lawyers have deep mastery of relevant laws and precedents they can cite to justify settlement terms. Few creditors want to end up in court against a skilled attorney over a small business debt.
  • Efficiency: Instead of spending hours negotiating back and forth yourself, an attorney can craft polished proposals and often secure agreements in just a few interactions.

We maintain strong partnerships with various reputable law firms across Memphis that specialize in business debt relief and financial restructuring. Your dedicated specialist will determine when attorney support is prudent and connect you with the best lawyer for your specific situation.

What Makes Delancey Street Different

With so many debt relief companies and law firms to choose from, what sets Delancey Street apart? A few key differentiators:

1. Pure Focus on Business Debt – We only work with B2B debts for small companies. Consumer credit card or medical bills? We’ll refer you elsewhere. But for commercial leases, merchant cash advances, vendor invoices – that’s our specialty. Decades of business debt experience makes us more efficient.

2. Exceptional Customer Service – Each client gets white glove concierge-level service from their dedicated specialist. We understand every business’ situation is unique and requires a personalized path forward. Expect hands-on attention and compassion from start to finish.

3. Attorney-Level Quality – Our debt advisors include former commercial bankers, certified public accountants, and some who graduated from law school. You get expert-level debt restructuring guidance without high attorney fees. But we’ll involve external lawyers whenever necessary.

4. Performance-Based Fees – As mentioned earlier, you pay nothing until we formally resolve your debts. And our fees only amount to a small percentage of the savings achieved. If we can’t reduce your balances, you don’t pay a cent.

5. Complimentary Savings Tools – On top of settling your current debts, we arm you with other resources to strengthen your financial foundations for long-term stability. This includes free access to savings accounts, accounting software, and educational money management courses.

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