New Hampshire MCA Defense Lawyers Business Debt Relief
Small business owners in New Hampshire often struggle with debt. Merchant cash advances (MCAs) may seem like an easy solution, but can lead to legal issues down the road. If you signed an MCA with unfair terms or predatory rates, relief may be possible.
How MCAs Work
Merchant cash advances provide business owners with quick access to capital. An MCA company purchases a percentage of the business‘s future credit card sales, then collects repayments from those sales over time. This differs from a loan – there‘s no set monthly payment or interest rate.
While MCAs provide fast funding, they often have high costs:
- Advance rates of 100-200% of the funded amount
- Double-digit effective APRs
- Daily repayments that quickly erode profits
Many New Hampshire business owners sign MCAs without fully grasping the potential downsides. Unethical MCA companies exploit this lack of understanding to lock companies into abusive contracts.
Abusive MCA Tactics in New Hampshire
New Hampshire has seen an influx of predatory MCA companies in recent years. These companies use high-pressure and deceptive tactics to push business owners into unfair agreements, including:
- Misrepresenting repayment terms
- Hiding true costs
- Making verbal promises not included in the contract
- Threatening legal action or credit damage
Once a business signs an abusive MCA, the predatory behavior continues. Companies change payment processing without notice, make unauthorized debits, or fabricate defaults to trigger high fees.
Legal Defenses Against Predatory MCAs
If you signed an MCA under false pretenses or the terms changed after signing, you may have grounds to invalidate the agreement. Consult a business attorney to explore defenses like:
- Unconscionability: Challenging shockingly unfair or one-sided contracts.
- Fraudulent inducement: Proving the MCA company used deception to obtain consent.
- Breach of contract: Demonstrating the company violated agreed-upon terms.
- Usury violations: Interest rates above state maximums may nullify an MCA.
An attorney can review your MCA agreement for actionable flaws. They can also negotiate a settlement or debt reduction with the MCA company.
New Hampshire MCA Defense Lawyers Can Help
Delancey Street partners with experienced New Hampshire attorneys to assist clients wronged by predatory MCA companies. While not a law firm itself, Delancey Street‘s business debt relief services include full legal support.
A dedicated case advisor will analyze your situation, then connect you with specialized counsel if defenses exist. Attorneys can send demand letters asserting your rights, or directly negotiate an improved agreement. If talks fail, they will aggressively litigate while minimizing business disruption.
The Path to MCA Relief Starts Here
If an abusive MCA is threatening your New Hampshire small business, take action now. Delancey Street’s team provides a free consultation and case review. There’s no obligation to engage services.
Don’t struggle alone – skilled attorneys can fight predatory contracts. With the right legal strategy, your business can regain financial stability. Reach out today to start the process.
