Merchant Cash Advance Assistance for Ohio Business Owners
Business Debt Law Group provides support to Ohio business owners dealing with merchant cash advances, including collections, lawsuits, and bank account freezes. Ohio law mandates strict criteria for cognovit clauses under O.R.C. § 2323.13, requiring a specific statutory warning for enforceability. Our merchant cash advance attorneys can assess whether your MCA agreement complies with these regulations.
Ohio Revised Code §2323.13 establishes specific requirements for warrants of attorney used to confess judgment, including a conspicuous statutory warning on covered instruments and procedural requirements governing the entry of judgment. In an MCA matter involving a cognovit or confession-of-judgment provision, our attorneys may review the signed agreement, placement and form of the required warning, warrant of attorney, court filings, jurisdiction, notice, service history, and related judgment documents to evaluate potential legal issues. The existence of a confession-of-judgment clause or judgment should not, by itself, determine enforceability or the available legal options without reviewing the agreement, applicable Ohio law, and specific procedural history.
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How We Help
- Challenging and vacating merchant cash advance judgments that don't comply with Ohio law.
- Evaluating the basis for bank restraints and disputed ACH withdrawals, and potential steps to seek relief where available.
- Negotiating either lump-sum settlements or structured repayment plans that suit your business needs.
- Consolidating multiple MCA positions for a more manageable payment solution.
- Defending against lawsuits initiated by MCA funders to protect your business interests.
"Ohio law sets strict requirements for MCA cognovit clauses, and most contracts don't meet them."
— Business Debt Law GroupWhat Happens When You Call Us
Our team follows a comprehensive process to address your merchant cash advance issues.
1
Gather MCA Agreements
Collect all MCA agreements, amendments, personal guarantees, and related contractual documents so the complete obligations and terms can be reviewed
2
Organize Financial & Payment Records
Prepare recent bank statements, payment history, revenue records, and records of ACH withdrawals to show how MCA payments have affected business cash flow.
3
Collect Funder Communications
Include payment demands, default notices, reconciliation requests and responses, settlement communications, and other correspondence with MCA funders or their representatives.
4
Preserve Legal & MCA UCC Documents
Gather any complaints, summonses, judgments, MCA UCC filings, bank or processor restriction notices, and related documents. Keep the dates received and applicable deadlines so time-sensitive issues can be identified during the evaluation.