Frequently Asked Questions
How does your business debt & merchant cash advance programs work?
If you are accepted as a client of our firm, our business debt and merchant cash advance attorneys will take on your case to pursue the restructuring, reduction, settlement or, possible elimination of ALL of your business debt or merchant cash advance loans. Your payments can be consolidated into one (1) low monthly payment. Once you have retained and are represented by our firm, all future communications thereafter, during the term of the representation will be exclusively between your attorney and your lenders. We shall seek to resolve your debt matter(s) as expeditiously as possible but with the understanding that favorable results may take time. We shall seek to reduce your accruing interest, penalties and those fine print fees. It is not extraordinary for your monthly debt load to be reduced by 50% or more and you may be able to complete a global settlement program with all of your creditors in as little as 12 months.
How soon do you begin working with my lenders?
Our attorneys will send out letters of representation to all of your Business Debt & Merchant Cash Advance lenders within 24 hours of your retention of our firm.
Do the programs affect my credit?
Typically, most merchant cash advance lenders don’t report to the 3 major credit bureaus and therefore, as they are not appearing on your credit now, a restricting or discounted settlement will also not be adversely reported on your credit. Many business loans do report to the credit bureaus for your business credit. If they do report to the credit bureau, this may have a negative effect on your credit rating. Your attorney will guide you through this process
How long does it take to complete the program?
The programs are typically 12-24 months long. The amount of debt you have and what you are able to afford will play an important role in determining the term length.
Can I cancel if I don't feel the program is right for me?
Yes, you can cancel the program at any time and all monies held in reserve for your future settlement purposes shall be returned you. If you do elect to terminate legal services before the completion of your program, you shall likely remain responsible for the full amounts of your debt obligations. Your attorney will no longer have the legal right to help you in negotiations and stop harassing phone calls
Is this a loan to pay off my lenders?
No. Our attorneys do not give you a loan to pay off your lenders. The program restructures and settles your business debt & merchant cash advance loans.
When can I get started?
IMMEDIATELY. Please fill out an online form or call us now. Business Debt Legal Group and its attorneys will help to get you BACK IN CONTROL OF YOUR BUSINESS.