Alabama Merchant Cash Advance Defense Lawyers: Protecting Your Business
If you’re a small business owner in Alabama who has taken out a merchant cash advance (MCA), you may be feeling the pressure of daily or weekly repayments eating into your revenues. When those ACH withdrawals become impossible to keep up with, it’s time to consider your legal options. That’s where our experienced merchant cash advance defense attorneys at Spodek Law Group can help. We’re here to fight for you and your business.
Understanding Merchant Cash Advances in Alabama
A merchant cash advance may seem like a lifeline when your business is strapped for cash, but in reality, it can be a devastating lending instrument. Rather than infusing your business with the funds it needs to grow, an MCA can quickly consume your revenues with high-frequency repayments that border on impossible to maintain.In Alabama, MCAs still operate in a largely unregulated space compared to other types of lending. While states like California and New York have enacted laws specifically governing MCAs, Alabama has yet to pass such legislation. This lack of oversight leaves merchants vulnerable to predatory practices and sky-high rates that would be considered usurious in other contexts.Interestingly, Alabama does regulate payday loans to protect individual consumers. The Alabama Deferred Presentment Services Act caps payday loan amounts at $500 and limits fees to 17.5% of the amount advanced. (Ala. Code §§ 5-18A-1 et seq.) However, these protections don’t extend to commercial financing products like merchant cash advances. It’s a glaring loophole that MCA funders are all too eager to exploit.
The Dangers of Defaulting on a Merchant Cash Advance
So what happens if you can’t keep up with your MCA payments? When a merchant defaults, the funder has a range of options to enforce the agreement, such as:
- Filing a confession of judgment to seize your business assets
- Reporting the default to credit agencies, damaging your credit
- Harassing you with constant phone calls and emails demanding payment
- Filing a lawsuit against you and your business
Any one of these actions can have devastating consequences for your business and your peace of mind. The good news is, you don’t have to face this alone. Our skilled MCA defense lawyers are here to protect your rights.
How Spodek Law Group Can Defend Your Business
At Spodek Law Group, we have a proven track record of successfully defending merchants against MCAs and predatory lenders. Our attorneys have negotiated hundreds of favorable settlements and filed lawsuits against the majority of MCA funders. We know their tactics inside and out.When you work with us, we’ll start by thoroughly reviewing your MCA agreements to identify any violations or predatory terms. We’ll also examine your business finances to determine what you can realistically afford to pay. Armed with this information, we’ll negotiate aggressively with your MCA funder to reach a settlement that works for you.If litigation becomes necessary, we won’t hesitate to file suit to protect your business. We’ve gone up against virtually every major MCA funder and achieved positive results for our clients, even in complex cases involving multiple MCAs or “stacking.”Some of the funders we’ve successfully battled include:
- Yellowstone Capital
- Par Funding
- Elevate Funding
- Green Capital
- Apex Advance
- Pearl Capital
- Everest Business Funding
- Reliant Funding
And many, many more. No matter who your funder is or where they’re located, we have the knowledge and tenacity to advocate fiercely for your business.
Protecting Your Revenues and Your Future
When you’re facing default on a merchant cash advance, it can feel like your whole world is crumbling. Your business is more than just a source of income – it’s your livelihood, your passion, and your legacy. At Spodek Law Group, we understand what’s at stake.We’ve seen firsthand the stress and sleepless nights that MCAs can cause hardworking business owners like you. That’s why we’re committed to providing compassionate, responsive legal counsel to help you weather this storm. Our goal is to reclaim your revenues and get your business back on solid ground.Don’t let an MCA funder bully you into an impossible situation. You have rights, and we’re here to uphold them. Let our experienced merchant cash advance defense lawyers alleviate the worry and fight for the future you’ve worked so hard to build.
Get the Answers and Advocacy You Deserve
We know you have questions, and we’re here to provide the clear guidance you need to move forward with confidence. Our attorneys will take the time to understand your unique situation and lay out all your options in plain language.We’ll be there every step of the way, from negotiation to litigation and beyond. We’ll make sure you understand exactly what’s happening with your case and what to expect. You’ll never be left in the dark or caught off guard.Most importantly, we’ll treat you with the respect and compassion you deserve. We know this is an incredibly stressful time, and we’re here to shoulder that burden so you can focus on running your business. Your challenges are our challenges, and we’ll face them head-on together.
Ready to Reclaim Your Revenues? Call Spodek Law Group Today
If you’re drowning in MCA debt, don’t wait another day to get the legal support you need. The sooner you call us, the sooner we can start fighting for your rights and negotiating a favorable resolution.We offer free, no-obligation consultations to assess your situation and discuss your options. And with our contingency fee structure, you won’t pay any attorney fees unless we recover money for you. We’ll even advance all the costs of your case, so you can get the representation you need without adding to your financial strain.
