Debt Relief Services Blog

How Can I Get Out of a Merchant Cash Advance?

Sep 13, 2021 2:29:47 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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Bills that Protect Small Businesses Going to House for Consideration

Nov 22, 2019 3:52:16 PM / by Greg Tidmore posted in Merchant Cash Advance, Small Business Debt

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The House Committee on Financial Services passed two important bills on November 14, 2019, which, if passed by the full House, would amend the federal Fair Debt Collection Practices Act.

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Merchant Cash Advance Borrowers get Relief with COJ Bill Passage

Sep 11, 2019 11:24:30 AM / by Greg Tidmore posted in Merchant Cash Advance, Confession of Judgement

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For unsuspecting (and often desperate) small business owners who took out Merchant Cash Advances as a lifeline to save their livelihood, the filing of a Confession of Judgment (COJ) becomes the businesses deathblow.

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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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