Debt Relief Services Blog

E.J. Simonsen

E.J. Simonsen
Consumer-centric business development strategist. Husband. Father. Son. Forgiven sinner. Entrepreneur. Champion of the mortgage, debt, and credit downtrodden. Focused on leading, building, and investing in businesses and people who help others.

Recent Posts

How Can I Get Out of a Merchant Cash Advance?

Sep 14, 2021 2:29:55 PM / by E.J. Simonsen posted in Merchant Cash Advance, Bankruptcy

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Merchant cash advances (MCAs) are a financing option that many small businesses choose. Because MCAs can offer a great deal of capital in a short time, many small businesses use them to get through hard times. 

But, it's easy for a merchant cash advance to turn sour (it's what we call the Merchant Cash Advance Trap). 

In the event that your business has taken a merchant cash advance that you're unable to repay, know that you do have options. Here are 5 ways you can get out of a merchant cash advance that's dragging your business down.

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What Do I Do if My Bank Account is Frozen?

Sep 7, 2021 10:30:00 AM / by E.J. Simonsen posted in Foreclosure, Small Business Debt

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There's no feeling worse than going to make a simple payment, only to find that your card has been declined, and your bank account is frozen. Who froze it, and how can you regain access to your funds?

If you've just found out your bank account is frozen, here's what you need to know, from an experienced team of business debt relief attorneys.

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Beware of the Merchant Cash Advance Debt Trap!

Jan 18, 2019 10:52:35 AM / by E.J. Simonsen posted in Merchant Cash Advance, Small Business Debt

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Merchant Cash Advance Debt Trap

Small businesses, like all businesses, need cash to operate. But for many small businesses, gaining access to much-needed capital is difficult – especially when COVID hit. While programs such as PPP and SBA EIDL provided some assistance, businesses without an established track record of success or poor credit history have few options. Many traditional financing sources (such as banks) don’t find it worth their while to take the risk, especially if the amount needed is small.

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