-- (Attorney Advertising)
Top quality merchant cash advance legal services available at Jacovetti Law, P.C. They offer this merchant cash advance service in addition to other legal services such as consumer protection law, litigation, levies and restraints. The merchant cash advance legal service is ideal for any business that is experiencing difficulty making payments on their merchant cash advances due to COVID-19 or other issues.
For more information please visit the website here:
https://www.jacovettilaw.com/practice-areas/merchant-cash-advance/
Clients will find that a merchant cash advance is an advance on the future revenue of a business. For example, a business owner could borrow money which will then be paid back based on the sales of the business, meaning the payments are deducted from the revenue account until the payment has been made in full.
There are a variety of benefits to using merchant cash advances. For example, there is usually a quick approval process, meaning money can be deposited very quickly. In addition to this, various lenders do not require collateral, and the payments vary based on credit card sales, meaning they are more flexible than general loans.
Nevertheless, clients will find that there are also a range of disadvantages as well. Interest rates are usually high and will increase with higher daily sales. Moreover, utilizing merchant cash advances tends to lead to another merchant cash advance in the future, and they are not federally regulated.
It is fairly common for merchant cash advance lenders to use a confessions of judgement agreement. This agreement can allow lenders to put restraints on the borrower’s bank account which may lead to shutting down the business when payments are missed. This agreement bypasses a lender’s duty to prove the elements of the claim and often create very serious issues for borrowers.
Jacovetti Law, P.C states: “If you are a borrower who has defaulted on your payment and has signed a confession of judgment agreement, there are limited circumstances that can provide relief. It is important to seek the help of our experienced merchant cash advance attorney at Jacovetti Law, P.C. We can provide options for you to sustain and grow your business.”
Those wishing to find out more can visit their website on the link provided above.
Release ID: 88974985