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How to avoid default on a merchant cash advance

If you’re reading this article you probably have a merchant cash advance and are having trouble making the payments.

It’s likely you’re either about to default, or have already defaulted.

Regardless of the situation you have options. One of those options is working with a business debt settlement company like Lawscape.

At Lawscape, we’re able to help you understand your options.

For example, if you signed a COJ – we’ll advise you on what the implications of this are, and how it might impact your business. We’ll also advise you on how to protect your assets so that your personal assets or other assets not tied to your business aren’t in jeopardy.

Our main objective is to help your business survive. Our primary focus is on working with the lender you took the merchant cash advance from and working on settling it. If you work with us, and allow us to engage in business debt settlement on your behalf – this can be a great alternative to defaulting on your merchant cash advance.

If you ignore your financial problems and simply default, it can have serious consequences, including repossession of company assets, etc.

Understand this: merchant cash advances are not loans. They are commercial transactions based on your future revenue. MCA lenders DO NOT report to credit bureaus. If you fail to make payments on time this does not impact your personal credit score. Lenders are not allowed to seize your personal property or personal assets to repay the loan.

When you speak to Lawscape, what we do is do a financial evaluation of your business and how the merchant cash advance is harming it. Based on financial modeling, we use data and numbers to show that the merchant cash advance is having an immense negative impact on your business and creating a hardship.

Using this hardship information, we work to lower the overall debt you owe and get the lender to work with you. If you work with Lawscape, it might be possible to show the lender that this merchant cash advance is in jeopardy of being a default and you might have to file bankruptcy due to the stress it’s putting on you.

Most lenders would rather engage in business debt settlement than see you file bankruptcy – which would result in the merchant cash advance lender getting potentially absolutely nothing.

In summary, instead of defaulting – work with Lawscape and get a risk free evaluation. We can help you avoid defaulting, by settling your merchant cash advance debt.

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