Nearly every day, our office receives phone calls from business owners
that are desperately looking for a solution to their small-business debts.
Whether it be an
MCA debt (Merchant Cash Advance), a business loan, a line-of-credit, or even a
commercial credit card, it can be tough to know where to turn when you
can no longer afford to make the minimum payments.
It’s no wonder that some businesses are panicking since many lenders
are prepared to bring court lawsuits to collect on defaulted accounts.
Even more worrisome are the lenders that have obtained signed COJ’s
(Confessions of Judgment) that allow them to obtain an expedited judgment
in New York, without having to prove the elements of their claim.
Vacating a confession of judgment has its own set of challenges and such relief is usually limited to very
settling business debt can be a challenging feat, our office has been able to help a number of
small businesses restructure their debts into an affordable arrangement,
thereby keeping their doors open and avoiding a potential bankruptcy liquidation.
Furthermore, if there is a
personal guaranty on file, the guarantor may avoid adverse collection activity by entering
into an arrangement with their lender.
Reducing business loans can sometimes be achieved by negotiating with the lender to lower the
monthly payments. The same strategy can be utilized to reduce
MCA daily payments and other types of distressed commercial accounts.
Business Debt Lawyers
Call Today: (888) 301-0584
Read about our recent success stories:
Business Loan Settlement: Settled a $175,000 business loan from
Can Capital for a payment of $30,000, saving the small-business client about $145,000.
Quarterspot Business Loan: Settled a $135,000 business debt from
Quarterspot for a lump sum of $30,000, achieving a reduction of nearly $100,000.
American Express Lawsuit Settlement: Settled a $96,000 lawsuit for $37,000 on a
business credit card debt, saving the client about $59,000.
Merchant Cash Advance Lawsuit: Settled a $242,000 lawsuit for $150,00 on an MCA debt with
BizFi / Merchant Cash & Capital, saving the client approximately $92,000.
OnDeck loan settlement: Settled a commercial loan in the amount of $57,000 for a one-time payment
of $8,800, achieving a reduction of approximately 85%!
If you're seeking assistance resolving a
small-business debt, you can count on our dedicated
New York Debt Relief Lawyers to provide you with trustworthy guidance and advice. Although results
can vary substantially on a case to case basis, our legal team will always
work fervently to achieve the best results possible for our clients. We
offer a no-cost phone consultation to help determine whether we can assist
with your matter, and if so, we can help you build a strategic plan to
maximize your chances of a successful resolution.
Call the Law Office of Simon Goldenberg at
888.301.0584 today for a free small-business debt relief evaluation.