Oregon Business Debt Settlement and Merchant Cash Advance Lawyers



Oregon Business Debt Settlement and Merchant Cash Advance Lawyers

Hey there! If you run a small business in Oregon and are struggling with debt, we get it. Times are tough and debt can pile up fast. But don’t stress – we’re here to help. I’m [name], one of the attorneys with Delancey Street‘s debt relief service. We specialize in helping business owners like you negotiate and settle your business debts so you can get back on steady footing.Now I know what you might be thinking – “debt settlement? isn’t that risky?” Well, sure it can be if you go about it the wrong way. But our team of experts makes the process smooth and simple for you. We’ve been doing this for over 10 years and have helped hundreds of business owners across the country.

Here’s the deal: we’ll assign you your very own debt expert to walk you through everything step-by-step. They‘ll negotiate with your creditors and collectors to try to reduce what you owe. Many people are able to settle their debts for 30-50% less than what they originally owed. Pretty sweet, right?Of course, every situation is different depending on the types of debts you have. But some of the common business debts we can help with in Oregon include:

  • Business loans and lines of credit
  • Past-due invoices and accounts payable
  • Judgments against your business
  • Merchant cash advances
  • Back taxes

We can also help if debt collectors are hassling you nonstop with phone calls and letters. Not cool. We’ll deal with them so you can focus on running your biz.Now you might be wondering if debt settlement is even legal in Oregon. Great question! Let me break it down for ya…

The Legality of Business Debt Settlement in Oregon

In 2015, Oregon passed the Business Debt Settlement Services Act which regulates companies offering debt settlement services in the state. This law outlines rules these companies have to follow to make sure consumers are protected.Some key things the law requires:

  • Fully disclosing all fees upfront
  • Providing written contracts and settlement agreements
  • Maintaining trust accounts to hold client funds securely
  • Allowing clients to cancel within 5 days

As long as companies follow these rules (which we do!), business debt settlement is totally legal here. The law also prohibits activities like charging advance fees before settling any debts.So in short – yes, we can offer debt settlement services to business owners located in Oregon. And you can feel confident we’re operating legally under state laws.Of course, every situation is different though. So I‘d be happy to discuss the specifics of your business debts in more detail to see if our program could work for you.Just give our office a call anytime at 212-210-1851 and we can explore your options. The consultation is 100% free too. No awkward sales pitch, I promise!

The Deal with Merchant Cash Advances in Oregon

Okay, now let’s talk about merchant cash advances (MCAs) for a minute. This is a type of financing where a company gives you an upfront lump sum of cash in exchange for a percentage of your future credit card and debit card sales.Lots of business owners in Oregon have used MCAs to get quick capital to cover expenses during slow periods or expand operations. But these advances can also come with crazy high interest rates and trap you in an endless cycle of debt. Not fun.So I‘m sure you’re wondering – are MCA companies regulated in Oregon? Can I negotiate or settle this type of business financing debt? Great questions!Unfortunately, the answer is more complicated than you might think. Here’s the deal

  • MCA companies argue they are not lenders but rather purchasers of future sales, so normal lending laws and interest rate caps don’t apply.
  • However, the Oregon Department of Consumer and Business Services has warned that some MCA deals may still fall under state lending laws.
  • There have also been lawsuits in other states claiming these advances are in fact disguised loans charging illegally high rates. But the legal status is still a gray area.

The bottom line is MCAs exist in a regulatory loophole without clear laws. So debt settlement options are tricky and still being figured out.That said, we may still be able to help negotiate your advance balance down or come up with a customized repayment plan that works for your biz. I’d love to explore your unique situation more in a free consultation. Each case really is one-of-a-kind.And even if we can’t directly settle the debt, we may be able to help with strategies to pay it off faster or reduce the burden on your business. Plus we can take over communicating with the MCA company for you!So if you‘re struggling with a merchant cash advance in Oregon, don‘t hesitate to give me a shout. Like I said earlier, you can reach our office at 212-210-1851 anytime to discuss your situation free of charge. No awkward sales tactics – just friendly advice!Hope this info helps explain where Oregon currently stands on business debt relief options. Let me know if any other questions come up! We’re always happy to help business owners like you.

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