Merchant Cash Advance Attorney Serving Maryland

Last updated on December 17, 2024

Small and medium-sized businesses and professional practices in Maryland often need to seek quick financial solutions. When they do, they sometimes opt for merchant cash advances (MCAs) to meet short-term financial needs. MCAs seem like an easy way to get a quick infusion of cash without jumping through a lot of hoops.

Unfortunately, if you do not repay an MCA promptly, the lender may pursue a default judgment or place a UCC lien against your business’s receivables. This can prevent your business from accessing its own funds until you finish repaying the MCA. Merchant cash advance debt relief is essential under such circumstances.

MCA Debt Relief Is Available

Attorney Dominick Dale of Merchant Cash Advance Law Firm P.C. fights against coercive MCA collection tactics. He works to defeat them and to settle debts on more favorable terms. Based in New York, attorney Dale represents MCA borrowers nationwide and throughout Maryland, including in Baltimore, Germantown and Silver Spring.

To schedule a free 30-minute consultation, contact the firm at any time, 24/7. Call 855-339-6593 or email the firm now.

Do Consumer Protection Laws Apply To MCAs?

No. For example, the Fair Debt Collection Practices Act, which is designed to protect consumers from abusive debt collection practices, does not apply to merchant cash advances. This is because MCAs are not classified as consumer loans, but rather as commercial transactions.

This classification exempts MCA lenders from the regulatory constraints typical of consumer lending. It gives them cover to impose highly unfavorable loan terms and to engage in aggressive — or even abusive — collection tactics.

There Are Legal Options Available To Fight Back Against MCA Lenders

Businesses suffering from these aggressive practices do still have some legal protections. Attorney Dominick Dale offers a robust defense for businesses dealing with predatory MCA terms.

With a comprehensive understanding of commercial law and a dedication to business defense, he scrutinizes the legality of lender actions. He challenges unfair collection practices and advocates for fair treatment for borrowers.

For Maryland businesses caught up in MCA debt, understanding your legal rights and options is crucial. Predatory lending practices can impact your business operations and financial stability.

With attorney Dale’s knowledge and experience, your business can find a way through this challenging situation and work your way back to profitability.

Is An MCA Lender Diverting Your Accounts Receivable?

When an MCA lender places a UCC lien on a business’s receivables due to an unpaid merchant cash advance, things can go bad quickly.

This type of lien grants the creditor the legal right to intercept funds that other parties owe to the business. Those funds can include payments from customers or money processed through payment systems.

The impact of such a lien is immediate and profound:

• Cash flow disruption: The primary consequence of a UCC lien is the significant disruption it causes to your cash flow. With your receivables redirected to pay off the debt, your business may find itself unable to cover basic operational costs.
• Credit score impact: A UCC lien can also negatively affect your business’s credit rating. This can hinder your ability to secure future financing.
• Operational interruptions: The burden of addressing a UCC lien can divert focus from day-to-day business operations and long-term strategic planning.

Merchant cash advance attorney Dominick Dale’s approach to these issues involves several strategic legal actions:

• Assessing the validity of the lien: Not all liens are correct or legal. Attorney Dale will review the circumstances of the lien and ensure the lender followed all legal protocols.
• Negotiating with creditors: Sometimes, MCA creditors are open to negotiation for better repayment terms or even settlement of the debt. Attorney Dale has a track record of successful negotiations that favor his clients.
• Legal challenges and removal of the lien: If negotiations do not yield favorable results, attorney Dale can challenge the lien in court in order to seek its removal.

At Merchant Cash Advance Law Firm P.C., attorney Dale fights back against UCC liens that prevent businesses from operating as normal.

Did Your MCA Lender Get A Default Judgment Against You?

A default judgment can be a severe blow to any business. It occurs when an MCA lender files a lawsuit and the business fails to respond.

Why wouldn’t a business respond to a lawsuit? Often enough, it is because the MCA lender improperly or deceptively served the notice. Regardless, a business’s lack of response to the lawsuit can lead to default judgment. This is a court ruling in favor of the lender without the court even hearing the borrower’s side of the story.

Merchant cash advance attorney Dominick Dale understands the critical nature of such situations. He is skilled in addressing them through legal avenues. Here are some steps he takes:

• Investigation: Attorney Dale begins by investigating how the MCA lender served notice and whether it complied with legal standards. Improper service can be grounds for vacating a default judgment.
• Filing a motion to vacate: If grounds are found, attorney Dale will file a motion to vacate the default judgment. This challenges the judgment’s validity and seeks to reopen the case, giving the business a fair chance to contest the MCA lender’s claims.
• Negotiation and settlement: In parallel with legal proceedings, attorney Dale explores negotiation opportunities with the lender. Often, lenders prefer a settlement because it can be less costly and time-consuming than litigation.

The implications of a default judgment are significant:

• Financial strain: The judgment may lead to aggressive debt collection, including bank account levies and property liens.
• Credit damage: A default judgment can severely impact a business’s credit rating, affecting its ability to secure future financing.
• Reputational harm: The public nature of such judgments can damage a business’s reputation among customers and partners.

To effectively counter these potential consequences, Maryland businesses need prompt and aggressive legal intervention. As a dedicated MCA defense lawyer, Dominick Dale offers that intervention, ensuring that businesses not only get to present their side but also work toward a fair resolution.

If you find yourself facing a default judgment from an MCA lender, it is essential to act quickly to protect your business interests. Consulting with attorney Dale can give you the legal support and strategy necessary to put an end to unfair MCA collections.

Call For A Free 30-Minute Consultation With Merchant Cash Advance Attorney Dominick Dale

If you are grappling with the challenges posed by merchant cash advances in Maryland, the importance of taking immediate action cannot be overstated. Merchant cash advance attorney Dominick Dale provides a free 30-minute consultation in which you can discuss your situation and explore your legal options.

Attorney Dale’s commitment and assertive approach are key in effectively countering unfair lending practices and aggressive collection tactics that could undermine your business. With his nearly 20 years of experience in commercial law and his focus on defending businesses against predatory MCA lenders, attorney Dale is ready to help you.

By engaging his services, you access not only legal skill but also a staunch advocate who is committed to fighting for your business’s rights and sustainability. Remember, the earlier you seek professional advice, the more options might be available for managing your merchant cash advance issues effectively.

Contact attorney Dominick Dale now for professional guidance. Call 855-339-6593 or email the firm Merchant Cash Advance Law Firm P.C. any time 24/7 for your free 30-minute consultation.