Lower Payments on Merchant Cash Advance & Business Loan Debt

Posted By Law Office of Simon Goldenberg, PLLC || 7-Feb-2017

Our debt relief team has experienced an increase in callers from company owners seeking help with unaffordable business debts and struggling to keep up with the large daily, weekly, or monthly payments. With the fear of potentially having to close their companies due to insolvency, these proprietors are desperately seeking a solution to restructure their commercial debts.

Not knowing where to turn for reliable advice, a merchant will sometimes fall into the clutches of aggressive cash advance brokers whom are all too ready to stack additional advances with large fees, or even consolidate the old debts into an entirely new MCA cash advance or business loan. Although this might be a short-term band aid on the problem, it is far from a permanent solution. Adding additional debt will make it harder for the merchant to repay the obligation, so it simply compounds the problem. The merchant would be left with a larger balance to deal with in the near future.

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Lower Your Payments

It’s better to try to resolve the debt sooner than later. If you have indications that your business will be unable to meet its payment obligations, you might want to consider calling your lenders and letting them know about your financial hardship. They may ask for bank statements or other proof of financial distress, but many lenders are willing to offer a reduced payments plan to merchants that they deem qualified. Although the lower payments might only be extended on a temporary basis, it can still provide some relief to let the merchant get back on their feet.

Professional Business Debt Negotiators

If you are overwhelmed by business debt and have been unable to come to a resolution with your lender, contact the Law Office of Simon Goldenberg, PLLC to learn what we can do to help. We assist with business debt settlement for defaulted commercial loans, credit cards, MCA cash advances, and other merchant debts. As experienced debt relief advocates, we help merchants explore all available options to resolve their defaulted business liabilities.

Call 888.301.0584 today to request your free business debt relief evaluation.

*NOT LEGAL ADVICE.

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