Renegotiating Business Debt for You
Grant Phillips Law, PLLC has a very reliable team of attorneys who are always there to provide high-quality legal services. We are ready to Refinance Merchant Cash Advance and provide reliable advice based on your unique case. Let us eliminate your business debt and we will never leave you disappointed. At Grant Phillips Law are always there for you to Renegotiate Business Debt so you can get your business back on track. You will finally get back your peace of mind.
For many small business owners, the idea of receiving funds through merchant cash advances is just an ideal solution. However, people should never forget that the annual percentage rates for these loans can be as high as 40 and even more. Besides, there can be months when you receive less and less of the proceeds and it won’t beneficial for you to pay these high interest rates.
Getting Out of the Merchant Cash Advance Debt Loop
The best way to get out of the merchant cash advance trap is getting the help from Grant Phillips Law, PLLC. We will Refinance MCA Loan and negotiate aggressively. Each businessman that trust us is important and we do our best to help him get back to his routine. We have extensive experience negotiating with even the most aggressive merchant services lenders. Simply trust us to Refinance MCA Loan and we will do everything in our power to negotiate down your debt while working with you to implement a suitable plan and finally solve all your debt issues once and for all.
How Do Merchant Cash Advances Work?
Generally, lenders and borrowers agree to a daily or weekly payback system. So the lender either gets a percentage of sales or receipts from the borrowers. Some people think that if their business is slow, the daily and weekly payments would reflect the revenue of the business. Unfortunately, this system works in a different way. Most lenders require the fixed amount from that business without paying attention to the business growth or overall financial condition. After your MCA has been approved, the payments can then be paid back in a specified time frame.
Benefits of Merchant Cash Advances
· Fast approval procedure – Once you submit all the needed files, the lender will quickly either approve or deny the advance. If approved, the needed money is quickly deposited into the business owner’s account.
· Many lenders do not require collateral – The advance is unsecured but note that when the lender provides an unsecured loan they usually ask for a confession of judgment.
· The amount of sales will be equal to the amount of your monthly payment – Note that the payments vary based on credit card sales. This is done to guaranteee that a company has enough cash on hand.
Downsides of Merchant Cash Advances
While there are many advantages if you go for a merchant cash advance, there are also downsides including:
· High interest rates
· The higher the daily sales, the higher the interest rate
· The desire for another merchant cash advance in the future
· Not federally regulated.
In fact, when borrowers are not able to make minimum payments, they don’t know who to trust. Many borrowers and businessmen decide to borrow from different merchant cash advance lenders as they want to pay back the first lender. However, this leads to a more complex situation and they get themselves into a worse position. Also, note that if you default on payments then many MCA lenders will bring lawsuits against you. Thus, getting help from Grant Phillips Law is a great solution.
Our attorneys are committed to client communication and aim to help each borrower. Just let us eliminate your business debt and submit the form online or contact us via phone. No matter where you live, you can again rely on this professional team. The merchant cash advance attorney is ready to Renegotiate Business Debt and make things as stress-free as possible for you. Having merchant cash advance legal issues are overwhelming but when you deal with this specialist you will have no reason to worry. The whole team of experts will support you every step of the way. They will do their best in order to reduce your payments, lower your interest, and provide relief to you and your business. Thanks to the efforts of our experienced attorneys, you will easily avoid the worry of seized assets or frozen accounts. Gone are the days when you didn’t know from where you get reliable legal advice. Today, you are just a call away from solving your debt issues. Hiring a merchant cash advance attorney before your debt problems grow worse will certainly help you avoid a potential future bankruptcy. Let Grant Phillips Law be by your side and the expert attorneys will give you the needed legal assistance and relief.
if bankruptcy is the option you want to go for, then you can again count on our
team. There are different types of bankruptcy but you cannot qualify for all.
Our specialists will describe you everything and choose the one which suits
you. After an initial consultation, we will lose no time and we will discuss
what options may be available for relief and what options may be ideal for you.
We will Refinance Merchant Cash Advance or take other actions for better
results. Our attorney is here to assist you and take the pressure off the
constant collection calls and notices so you can focus only on managing your