Criminal Defense Lawyers

Indiana Merchant Cash Advance Attorney

Indiana Merchant Cash Advance Attorney: Your Guide to Protecting Small Businesses

You’re here because you need help, with a merchant cash advance wreaking havoc on your small business. Maybe daily payments are draining your bank account dry, leaving you scrambling to make payroll and keep the lights on. Or perhaps you were misled about the outrageous fees and interest rates buried in the fine print of your agreement. Whatever situation you find yourself in, take a deep breath, you’ve come to the right place.As an Indiana merchant cash advance attorney, I’ve helped countless small business owners escape the vicious cycle of crippling MCA debt. I get it, this is stressful, overwhelming, and you likely feel trapped with no way out. But, that weight can be lifted off your shoulders, if you know the right legal strategies to fight back.Over the next few thousand words, I’ll walk you through everything you need to know about merchant cash advances in Indiana. How they really work, the dirty tricks lenders use to take advantage of desperate businesses, and most importantly – how to push back using the full force of the law.We’ll cover:

• The Truth About Merchant Cash Advances in Indiana
• Common MCA Lender Lies and Deception Tactics
• Your Rights as a Small Business Owner in Indiana
• Defenses Against MCA Lawsuits and Judgments
• Options for Restructuring or Settling Your MCA Debt
• How an Experienced Indiana Attorney Can Protect You

It’s simple, every single client deserves honesty and white glove service, when their livelihood is on the line. So let’s dive in, and get you the legal protection and debt relief you desperately need.

The Truth About Merchant Cash Advances in Indiana

Let’s start with a frank discussion, about the reality of merchant cash advances (MCAs) in Indiana. These are not your typical small business loans or lines of credit. MCAs are a form of predatory lending, designed to trap unwitting business owners in a spiral of debt they can never escape.Here’s how they work:A lender offers you an upfront sum of cash, say $50,000. In exchange, you agree to pay them a “factoring rate” of your future revenues or credit card sales. This rate is often quoted as a single-digit percentage, making it sound affordable.But, here’s the catch – that rate is calculated daily or weekly, not annually like a normal interest rate. So a 20% “factor rate” paid weekly, actually equates to an outrageous 1,369% APR! Lenders also often require you to sign a personal guarantee, putting your home, car, and personal assets at risk if you can’t pay. And the terms are set for a short period, like 6-12 months, with huge penalties for missing even a single payment.It’s a raw deal, designed to bleed your business dry while the lender rakes in obscene profits. Now, you may be thinking “but I signed a contract, so I’m stuck paying, right?” Not necessarily, there are ways to challenge these predatory agreements in court. Especially in Indiana, where merchant cash advance laws are still in their infancy.More on that later, but first, let’s look at the deceptive tactics MCA lenders use to lure in small businesses.

Common MCA Lender Lies and Deception Tactics

Merchant cash advance companies are masters of misleading marketing and flat-out lies. They know most small business owners are desperate for capital and will agree to almost any terms out of necessity.Some of their most common deception tactics include:Lying about fees and interest rates: Lenders love to bury excessive fees in the fine print, while quoting low, enticing “factor rates” upfront.Promising no personal guarantees: Then slipping a personal guarantee clause into the contract, putting your personal assets at risk.Misrepresenting the terms: Saying it’s a short-term 6 month agreement, when in reality it auto-renews indefinitely until you’ve paid triple the original amount.Falsely claiming no credit check: Then pulling your credit report without permission, damaging your score.Threatening violence or criminal charges: If you fall behind, some unscrupulous lenders resort to intimidation and scare tactics to force payment.The list goes on, but you get the idea – these lenders are not your friends, and they don’t play by the rules. Thankfully, there are state and federal laws in place to protect you as a small business owner in Indiana.

Your Rights as a Small Business Owner in Indiana

While merchant cash advance laws are still evolving in Indiana, you do have rights that an experienced attorney can leverage:Usury laws: Indiana has criminal usury laws capping interest rates at 25% for loans under $50,000. Many MCAs could be considered usurious loans, allowing you to void the agreement entirely.Deceptive marketing laws: It’s illegal for lenders to use false, misleading, or deceptive statements to sell their services in Indiana. Documented lies about fees or terms can get the contract thrown out.Personal bankruptcy protections: If you were forced to sign a personal guarantee, bankruptcy may allow you to discharge and eliminate that debt.Laws against harassment and intimidation: Lenders cannot legally threaten violence, make false criminal accusations, or engage in abusive collection practices.While Indiana’s MCA regulations are still catching up, these existing laws give your attorney ammunition to fight back. Speaking of which, let’s look at how a skilled litigator can defend you against lawsuits and judgments from your MCA lender.

Defenses Against MCA Lawsuits and Judgments

When you inevitably fall behind on payments, the first move most MCA lenders make is filing a lawsuit. Their agreements often include a “confession of judgment” clause, allowing them to win a judgment against you automatically if you miss payments. This lets them quickly pursue garnishing your bank accounts, putting liens on your property, and even seizing assets like equipment or inventory.Scary stuff, but not if you get out ahead of it with a strong legal defense. Here are some of the defenses I use to fight back against MCA lawsuits and judgments in Indiana:Lack of legal standing to sue: I’ll challenge whether the lender is truly the legal owner of your debt, which is required for them to collect.Violations of lending laws: Any lies about fees or terms can show the agreement is void under Indiana’s deceptive marketing statutes.Lack of proper disclosures: All lending contracts require certain disclosures, which are often missing in boilerplate MCA agreements.Unconscionable terms: I’ll argue the outrageous interest rates, short terms, and lack of underwriting make the contract unconscionable and invalid.Improper service of lawsuit: Lenders often try to pull a fast one by not serving you properly, giving grounds to dismiss the case.Negotiating a settlement: Before fighting in court, I’ll always try to negotiate a reduced settlement you can actually afford to pay.The key is acting quickly and getting an experienced litigator involved before a judgment is entered against you. Once we’ve blocked the lender’s legal action, we can then explore ways to restructure or settle your outstanding MCA debt once and for all.

Options for Restructuring or Settling Your MCA Debt

No small business should be crushed by outrageous merchant cash advance debt. As your attorney, my goal is to find a restructuring or settlement solution that allows you to move forward and focus on running your business successfully.Depending on your specific situation, some potential options include:MCA debt settlement: If the lender agrees, we can negotiate a lump-sum settlement for a significant discount on the remaining balance you owe.Payment plan: For more manageable weekly or monthly payments over a longer period at little or no interest.Interest rate reduction: Forcing the lender to reduce the outrageous interest rate down to a legal, reasonable level.Term extension: Extending the repayment period over more years to reduce your periodic payment amounts.Debt consolidation: Consolidating multiple MCA debts into one new loan with better terms.Bankruptcy as a last resort: If all else fails, bankruptcy may allow you to discharge and eliminate your MCA debts entirely.The path we take depends on your specific financial situation, the lender involved, and the laws we can leverage in Indiana. But, you don’t have to figure this out alone. Having an experienced merchant cash advance attorney in your corner makes all the difference.

How an Experienced Indiana Attorney Can Protect You

Trying to take on a merchant cash advance company by yourself is an uphill battle. These lenders have experienced lawyers writing those one-sided contracts precisely to take advantage of small business owners. That’s why you need a passionate advocate with extensive experience protecting Indiana businesses from predatory MCA lending practices.Here’s how I can help as your merchant cash advance attorney:In-depth contract review: I’ll comb through every word of your MCA agreements, looking for any violations or unfair clauses to challenge.Aggressive litigation: If the lender files suit, you can count on me to fight it aggressively using all available defenses and counterclaims.Skillful negotiation: My team and I are savvy negotiators, we know how to get lenders to settle for much lower amounts.Personalized solutions: There’s no one-size-fits-all, we’ll create a customized action plan for your unique situation.Constant communication: You’ll always know what’s happening with clear, responsive communication every step of the way.Steadfast representation: No matter how contentious it gets, I’ll be your unwavering voice pushing for the best possible outcome.At the end of the day, my mission is to protect your business, assets, and livelihood from the crushing burden of MCA debt. You’ve worked too hard to have it all taken away by predatory lenders and fine print tricks. So if you’re feeling overwhelmed and need help, reach out for a free, no-obligation consultation. I’ll take an honest look at your situation and lay out a clear gameplan for finally getting this MCA monkey off your back.