Texas Merchant Cash Advance Attorneys
Debt Restructuring | Lender Litigation | Business Bankruptcy
Has a Merchant Cash Advance (MCA) destroyed your cash flow?
Is your business being harassed by annoying collection calls?
Have your bank or merchant processing accounts been frozen?
Did you sign an Agreed Judgment or have a Personal Guarantee?
Do you need help reducing or eliminating your MCA payments?
If you answered "YES" to any of these questions then you need help from our Merchant Cash Advance Defense Attorneys!
At The Lane Law Firm, our experienced business debt resolution team will explore every option available to resolve your business liabilities while protecting your interests. Whether it’s a traditional business loan, supplier lawsuit, ACH loan, cash flow loan, or Merchant Cash Advance that got you in a bind, our team will help you create a strategy that works best for your specific financial situation so you can focus on growing your business instead of worrying about your debts.
Consultations are CONFIDENTIAL and FREE, so schedule yours today.
We'll examine your unique situation and tailor a plan to help:
Don’t let business debt cost you your business – get help today from The Lane Law Firm!
As a small businesses owner, you know managing cash flow is tough. Unless you're following Dave Ramsey's plan on how to run a debt-free business, you probably rely on debt as a necessary part of operating your company.
An injection of capital can help you expand your business by hiring additional employees, acquiring new equipment, and purchasing inventory. It can also help you smooth out the slow months and make sure employees (and you) get paid. But too much debt - especially the wrong kind of debt - can put your business at risk.
In the aftermath of the financial crises, traditional bank loans weren't as readily available for smaller, less established small businesses like yours. Even SBA loans are out of reach or too cumbersome for many, leaving owners no alternative but to rely on more expensive and riskier alternative financing options such as credit cards, invoice factoring, and Merchant Cash Advances (MCA). It is estimated that over $15 billion worth of alternative loans were funded in 2017 and those figures are expected to continue to grow.
These often unsolicited loans are aggressively peddled by non-traditional lenders who prey on desperate business owners like you who are so intent on keeping their businesses afloat they fail to see the hidden risks they are taking. Unfortunately, once sucked in by the first loan, it can be nearly impossible to get out due to high fees and even higher interest rates. Even business owners who make their payments on time can fall victim to these unscrupulous lender's practices. And if you find yourself taking out a second loan to help pay the first - a practice known as loan stacking - your livelihood is now in a death spiral!
If you're already caught in the trap of one or more MCAs, and your business is in Texas, we can help! We'll examine your situation at no cost and advise you on the best possible debt structure to help save your business from collapsing under the weight of the debt and related collection actions.
In addition, we'll:
If you have challenges with your Merchant Cash Advance(s), contact our team at 866-292-7107. We'll help you take back control of your cash flow and your business!
Many Merchant Cash Advance lenders require their borrowers to sign a “confession of judgment” agreement as a condition of loan approval. A confession of judgment is a written agreement whereby the borrower (defendant) agrees to accepts the liability and amount of damages that was agreed on. A confession of judgment is a way to circumvent normal court proceedings and avoid a lengthy legal process to resolve a dispute.
Essentially, the borrower agrees - in advance - to lose any future dispute that may arise between borrower and lender. It allows the lender to freeze the borrower's bank accounts and effectively shuts down the borrower's business when they have not paid, with minimal notice and little ability for the borrower to defend himself. Confessions of judgment agreements bypass a lender’s duty to prove the elements of their claim and create a serious issue for borrowers.
In their 2018 expose "Sign Here to Lose Everything" Bloomberg Businessweek detailed the abuses of Confession of Judgements in New York. Their work, in part, contributed to the passage of legislation outlawing the practice in New York in 2019.
If you are a borrower who has defaulted on your payment and has signed a confession of judgment agreement, there are limited circumstances that can provide relief. It is important to seek the help of our experienced merchant cash advance attorneys as soon as possible.
In the event a client should choose bankruptcy and seek our help to file under the United States Bankruptcy Code, The Lane Law Firm would be considered a debt relief firm. We are not licensed by the Texas Board of Legal Specialization. Use of this website does not constitute legal advice and does not establish an attorney-client relationship. None of this content may be used without express written consent. Images are not intended to portray actual clients; they are for navigational purposes only. Principal Office: 6200 Savoy Dr. Ste 1150, Houston, TX 77036