As a small business owner, maintaining cash flow can be challenging. For example, you might have relied on a merchant cash advance to cover your expenses. Except now, you’re behind on payments and facing an MCA lawsuit in New York. You might be wondering, “now what?” First, know that there’s no need to panic. Below, we walk you through what happens when facing a merchant cash advance lawsuit in New York, plus what to do next. A merchant cash advance (or MCA for short) is a type of alternative financing for small businesses. Some well-known merchant cash advance companies include Bitty, Everest ..read more

Staying in business as a small business,  nonprofit enterprise or agricultural co-op can be incredibly challenging. A lot of the time, these ventures live and die on cash flow and even seemingly minor disruptions to the amount of cash available can have dire consequences. In those cases, Economic Injury Disaster Loans (EIDL) are designed to bridge the gap. These are federally administered by the SBA and are often a lifeline to small businesses.  But if your business doesn’t have the money to make EIDL payments, the stress can be overwhelming. That’s when you might start asking, “Am I ..read more

As a small business owner, sometimes you need extra business funding to keep operating smoothly. Merchant cash advances (MCAs) have become a popular source of fast business financing. Unlike typical bank loans, MCAs are typically repaid with future sales from credit card sales. Unfortunately, they don’t have the same benefits and protections as a traditional small business loan. The high fees and tricky contracts associated with MCAs can threaten your business and finances if you aren’t careful. If you’re in danger of defaulting on a merchant cash advance, knowing how that could impact your bu ..read more

Staying in business as a small business,  nonprofit enterprise or agricultural co-op can be incredibly challenging. A lot of the time, these ventures live and die on cash flow and even seemingly minor disruptions to the amount of cash available can have dire consequences. In those cases, Economic Injury Disaster Loans (EIDL) are designed to bridge the gap. These are federally administered by the SBA and are often a lifeline to small businesses.  But if your business doesn’t have the money to make EIDL payments, the stress can be overwhelming. That’s when you might start asking, “Am I ..read more

Dealing with outstanding debts can be an all-consuming experience. Most U.S. adults have some type of debt, whether it’s a car loan, mortgage, or credit card bill. They manage it well by making regular payments. But, sometimes, things go awry. Administrative errors or blatant misrepresentations could mean you are wrongfully asked to pay a debt that isn’t yours. That’s when you need to put together a strategy for how to dispute a debt and win. Disputing a debt can seem daunting at first, but it doesn’t have to be. If you’re currently facing a debt dispute, here’s what you need to know to put to ..read more

Having your wages garnished can be incredibly stressful. When this happens, it means there’s a court order to have a portion of your earnings withheld to pay a debt. So if you owe a creditor and they’ve begun garnishing your wages, you’re probably wondering how to stop a wage garnishment immediately. Here’s what you need to know. Understanding the Implications of Wage Garnishment It’s important to know how garnishment impacts you, as well as the rights you have. The Impact on Your Income Having your wages garnished can jeopardize your financial security. However, there are limitation ..read more

It’s normal to feel overwhelmed and anxious if you’ve been ordered to pay a judgment. But know that you do have options. Understanding how to stop a judgment from being renewed could be the first step on your path to financial wellness. Here’s what steps to take if you’re trying to avoid paying a judgment against you. Understanding Judgments in Debt Collection Lawsuits Understanding the basics of debt collection law is crucial to feeling more in control over your situation. Let’s get started by reviewing some common terminology. What is a judgment? A judgment is a decision issued by ..read more

If you’re in over your head with a merchant cash advance (MCA), you may be looking for ways to stop paying your MCA. There are a few ways to get out of an MCA, including filing for bankruptcy in certain cases. Whether or not you can file bankruptcy on a merchant cash advance is a complex issue. So read on to learn more about how the bankruptcy process works and how your MCA fits in. Can You File Bankruptcy on a Merchant Cash Advance? A merchant cash advance is an alternative form of financing where a business receives a lump sum of money in exchange for a portion of its future sales. Unlike tr ..read more

Creditors who’ve won a lawsuit against you for an unpaid debt have greater access to debt collection tools. One of these tools is wage garnishment. This debt collection method automatically withholds a portion of your paycheck to repay the delinquent debt.  Even though a won judgment gives creditors the legal basis to request wage garnishment, it likely won’t happen immediately after the judgment is filed. There are federal and state regulations that define how long after a judgment wages can be garnished, garnishment limitations, and your consumer rights as a judgment debtor. Understandi ..read more

If you’re currently facing a debt collection lawsuit or recently had a judgment entered against you, one question on your mind may be: “Can my business bank account be garnished for a personal judgment?” As a business owner, keeping your personal and business finances is key, as is protecting your assets. So if you’re concerned about how a personal judgment might impact your business bank account, here’s what you should know. Is My Business Liable for My Personal Debt? Generally, your business is not liable for your personal debts, but this can depend on the structure of your business and othe ..read more