Utah Merchant Cash Advance Legal Help and Business Debt Settlement


Utah Merchant Cash Advance Legal Help and Business Debt Settlement

Running a small business is tough. There’s so much to juggle – managing employees, keeping customers happy, staying on top of finances. And when those finances start to slip, it can feel overwhelming fast.If your Utah business has found itself in debt, you’re not alone. Lots of great companies hit bumps in the road. The good news is, there are options to help get you back on track.

How Delancey Street Can Help With Business Debt

Delancey Street specializes in helping small business owners settle their debts and restructure their finances. We’re not a law firm, but we work with experienced attorneys as part of our full-service approach.Our goal is to help you regain control and have a healthy relationship with money again. We assign you a dedicated expert who will walk you through our tailored process step-by-step.You can reach us at 212-210-1851 to learn more and get started.

Common Small Business Debt Situations

There are a few common ways small businesses can end up in debt:

  • Cash flow issues – Not having enough working capital to cover monthly expenses
  • Economic downturns – Recessions and other market factors reducing revenue
  • Overexpansion – Growing too fast without the finances to support it
  • Emergencies – Unexpected costs like lawsuits or supply chain disruptions

Regardless of how you got here, taking action is key. Ignoring debts can allow late fees and interest rates to pile up.We know money issues are sensitive. Our advisors approach every client with compassion and no judgment.

What Is Debt Settlement?

Debt settlement is an arrangement to pay off debt for less than the full amount owed. It happens in a few key steps:

  1. You stop making payments to creditors and instead save money in a secure account. This helps show “hardship”.
  2. Delancey Street negotiates with creditors on your behalf to reduce balances.
  3. Creditors agree to accept a smaller final payment to consider accounts “settled”.
  4. You make that payment from the funds you’ve set aside.

Settling debts typically allows you to pay off balances faster and for about 40-60% less than originally owed.

What Types of Business Debt Can Be Settled?

Common small business debts that may be eligible for settlement include:

  • Business credit cards
  • Merchant cash advances
  • Commercial loans
  • Outstanding invoices
  • Business lines of credit
  • Equipment financing
  • Commercial mortgages
  • Business taxes

Personal debts are also eligible. And we can look at business debts owed to both large banks as well as small individual creditors.

What Are The Benefits?

Debt settlement offers Utah small business owners major benefits:Pay Less – Settle accounts for a fraction of balances owed. This frees up cash flow.Avoid Bankruptcy – Settling debt is often a better option than business bankruptcy. It helps preserve your company’s value and your personal credit score.Peace of Mind – Getting debts under control relieves stress and creates confidence in the future.One Simple Payment – We handle all negotiations so you make one easy monthly payment to us until the accounts are settled.Stop Harassing Calls – We deal directly with creditors to take the pressure off you.Prevent Lawsuits – Settling debt can help avoid creditors suing your business for repayment.Focus on Growth – With finances back on track, directing energy into marketing and operations is easier.As you can see, settling debt has major upside for Utah small business owners struggling with debt.

What Does the Process Look Like?

Our expert advisors make the process of settling your business debts smooth:

1. Free Evaluation – We start by listening to your situation in a pressure-free call. Compiling details on all debts helps us advise the best approach.

2. Service Agreement – We present a fixed-fee service agreement outlining what we’ll handle. Signing on gives us legal permission to negotiate your debt.

3. Open Dedicated Account – You’ll open an FDIC-insured bank account that lets you start saving settlement funds.

4. Stop Paying Creditors – We send letters instructing creditors to direct future communications to us. This helps show financial hardship.

5. Negotiate & Settle Debts – Over following months, we negotiate with all creditors to settle accounts. Most accept 40-60% less than the balances owed.

6. Make Single Monthly Payment – While we handle negotiations, you simply make one payment to us monthly for the settlement account.

7. Debt Free! – Once all accounts get settled, you’ve paid debts in full at reduced amounts. Future savings await!The process takes an average of 12-48 months from start to finish. We stay laser-focused on getting your accounts settled so you can put debt behind you.

Legal Protections Utah Business Owners Have

Navigating business debt can feel overwhelming. But Utah law does provide certain protections for small business owners facing financial hardship.Fair Debt CollectionThe Fair Debt Collection Practices Act regulates how creditors and collectors can pursue unpaid business debts. They cannot:

  • Harass or oppress you
  • Make false statements
  • Use unfair practices
  • Publicize your debts

Knowing these rules allows you to identify any violations. This can strengthen your position negotiating debts.Statute of LimitationsUtah has statutes of limitations on debt. This limits how long a creditor can sue you to collect:

  • Written contracts – 6 years
  • Oral contracts – 4 years
  • Open-ended accounts – 4 years

The clock starts when you fail to make payments as agreed. If a creditor sues after the limit passes, you can raise this as a defense.BankruptcyFiling business bankruptcy stops collections and wipes certain debts. But it has downsides like legal fees, closing businesses accounts, and damaging personal credit. Most try to avoid bankruptcy if possible.

Debt Settlement

Debt settlement gives the benefits of bankruptcy without as much risk. Because it pays back a percentage of debts owed, it causes less long term business and credit damage.

Why Delancey Street Is Utah Small Business Owners’ Best Choice For Help

With over 15 years experience helping small business owners, Delancey Street has mastered the debt settlement process. We provide complete support so you can focus on priorities again.Our advisors truly care and bring an ethical, people-first approach. We will treat you and your business with full respect.In addition to compassion, we also deliver results. We’ve successfully settled over $1 billion in small business debt.Our high rating with the Better Business Bureau reflects businesses who gain freedom from debt faster than trying to face it alone.We level the playing field against large, aggressive creditors so Utah companies can thrive. Contact us today to start rewriting your financial future.


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