Merchant Cash Advance Debt Attorney Serving Washington
Are you a small business owner facing significant merchant cash advance debt in Washington? Do you have a UCC lien against your business that is causing financial stress? You may find yourself dealing with aggressive debt collection tactics since many creditor protections, such as the FDCPA, do not apply to these loans. You need to know what steps to take next.
That is where Merchant Cash Advance Law Firm P.C. can help, bringing the same aggressive mindset and fighting for your rights. Attorney Dominick Dale has over 15 years of experience, so he understands the strain you are facing and the legal options available to you. If you want to meet with a business cash advance lawyer, he will be happy to schedule a free 30-minute phone consultation so that you can explore your options with no strings attached.
An MCA Is Different Than Other Types Of Business Debt
Whether you are stacking multiple merchant cash advances or just using one as financing for small business needs, it is important to note that these are different than traditional business loans. With an MCA, you:
- Get a lump sum payment upfront
- Are given a factor rate, which determines how much you must pay back
- Pay off the debt over time using a percentage of your credit card and debit sales, rather than straight cash sales
This classification is why you can face aggressive debt repayment actions. Because an merchant cash advance is not a traditional loan, many of the protections you may expect do not apply.
This is also a relatively expensive type of debt – a $100,000 loan with a factor rate of 1.5 means you pay back $150,000 – so the lender will do whatever they can to collect. You may be interested in debt settlement options or other legal tactics to address this type of debt, and working with an experienced law firm can help.
Call Today For A Phone Consultation
If you would like to learn more about your options, just use the online contact form or dial 347-588-5590 today to set up your free 30-minute phone consultation. Merchant Cash Advance Law Firm P.C. serves businesses throughout Washington state.