Mesa MCA Defense Lawyers Business Debt Relief
If you run a small business in Mesa, Arizona and are struggling with business debt, Delancey Street can help provide debt relief through our business debt settlement program. As a leading debt relief company, we have extensive experience helping business owners resolve financial issues and rebuild healthy finances.
How We Can Help With Your Business Debt
Our dedicated team of experts focuses on providing customized debt relief solutions for small business owners. We understand the unique financial challenges entrepreneurs face and tailor our services specifically to help Mesa business owners in debt.Some key ways we can help include:
- Negotiating with your creditors to reduce or eliminate interest rates and fees
- Consolidating multiple business debts into one lower monthly payment
- Structuring affordable payment plans aligned with your cash flow
- Helping improve your credit score over time
- Educating you on better financial management practices
At Delancey Street, our goal is to equip you with the tools and support to not just get out of debt, but develop healthy financial habits for the future.
Our Easy 4-Step Process
We make settling your business debt simple through our straightforward 4-step process:
1. Free Consultation
Schedule a free consultation with one of our small business debt experts. We’ll review your unique situation, specific debts owed, and financial goals. This allows us to start mapping out a customized debt relief plan.
2. Client Agreement
Once we understand your full financial picture, we’ll present a detailed debt settlement proposal. If you agree to move forward, we will have you sign our client agreement officially establishing our partnership.
3. Debt Negotiation
Our team then takes over communicating with your creditors and debt collection agencies directly. We negotiate on your behalf to have late fees, interest rates, and principal balances reduced. This can take between 6-48 months depending on specifics.
4. New Payment Schedule
As debts get successfully settled, we establish a new consolidated payment schedule aligned with your budget. Instead of random creditors chasing payments each month, you make one predictable payment to us while we handle the rest.Our debt experts will be there to support you each step of the way. We also assign a dedicated Account Manager to you who oversees your case from start to finish.
Why Work With Delancey Street for Debt Relief
Delancey Street is a long standing, A+ rated business with the Better Business Bureau. We have helped thousands of small business owners across the country resolve debt and regain financial control.What sets us apart is our:
- 27+ years of debt settlement experience
- Customized, small business focused programs
- Compassionate, ethical approach to debt relief
- Ability to consolidate multiple debts into one payment
- Long history of positive outcomes for clients
Additionally, our debt experts focus specifically on optimizing solutions for your small business. We understand entrepreneurs have unique cash flow needs compared to consumers. This means structuring plans that work with the ebbs and flows of your business finances.
Legal Protections Offered in Mesa, Arizona
Arizona has several state laws that provide protections for business owners undergoing debt settlement:
Debt Settlement Services Act
This law regulates companies offering debt settlement/relief services in AZ. It provides oversight to ensure firms like ours handle your accounts legally, ethically and with full transparency.Key provisions include:
- Requiring client agreements be in writing
- Mandating we maintain a separate trust account for client funds
- Ordering we make regular account reconciliations
- Restricting when fees can be collected
Arizona Fair Debt Collection Practices Act
Beyond formal debt settlement, this law also prevents creditors and collectors from harassing you illegally while trying to get paid.Some key protections include:
- Prohibiting threats of violence or criminal prosecution
- Banning calls before 8 AM or after 9 PM
- Restricting calls to your workplace if asked
- Requiring verification of debts if disputed
- Blocking misrepresentation from collectors
Arizona Consumer Fraud Act
This statute provides protection against businesses engaging in deceptive, unlawful or fraudulent conduct against consumers. Some key forms of fraud covered that business owners can be shielded against include:
- Predatory lending practices
- Misleading credit terms or rates
- Coercive collection tactics
- Other “sharp business practices”
Violators can face penalties like paying damages, attorneys fees, plus fines up to $10,000 per incident.
Our Team Can Defend Against Unlawful Collection Practices
While these laws establish good baseline protections, unethical creditors still sometimes break rules when desperately trying to get paid.Having our experienced team as your ally allows us to push back on unlawful collection attempts. Some questionable practices we can defend you against include:
- Falsely threatening to pursue criminal charges
- Misrepresenting legal options creditors have available
- Attempting to collect expired debts
- Depositing post-dated checks early
- Calling outside permitted hours
- Discussing debts with unauthorized third parties
If any creditor or collector crosses legal boundaries with you, we can send formal dispute letters. We can also file official complaints to regulators like the Consumer Financial Protection Bureau (CFPB).
Options If Facing Commercial Debt Lawsuits
If creditors escalate collection efforts to formal litigation, don’t panic. We can support you in assessing options to resolve commercial debt lawsuits.Some potential routes to explore include:
- Requesting hearings to negotiate settlement agreements
- Petitioning for arbitration to avoid drawn out court battles
- Presenting justifications to have cases dismissed if there are errors or legal violations
- Using federal laws like the Fair Debt Collection Practices Act to defend against questionable lawsuits
- Filing appeals if needed to dispute unfavorable rulings
The goal is avoiding scenarios where assets get seized or bank accounts frozen unexpectedly. Our team can evaluate the merits of each lawsuit and opposition strategies. With our support, you don’t have to tackle commercial debt cases alone.
What Makes Us Different From MCA Defense Law Firms
At Delancey Street, we are not attorneys and cannot provide formal legal counsel or representation. What we offer is comprehensive business debt settlement paired with consumer protections when creditors violate regulations.There are certainly scenarios where partnering with an MCA defense law firm makes sense too. Attorneys can provide more targeted advice for navigating complex contracts or litigation.How we differentiate ourselves is by taking an holistic, long-term approach. Our programs focus on both settling current debts AND promoting financial wellness going forward. This prevents getting stuck in cycles of debt.We also have extensive experience communicating with creditors directly. We act as the buffer between you and them. This saves business owners frustration and anxiety when trying to independently negotiate debt reductions.So we make an excellent complement to legal guidance from MCA defense lawyers. Rely on us for broad debt relief expertise while attorneys handle specialized contractual or litigation needs.
What Debt Types We Can Address
Common small business debts we can provide relief for include:
Merchant Cash Advances (MCAs)
If you have outstanding merchant cash advances (also called business cash advances), we can help. MCA loans provide fast financing but also very high repayment rates that become unmanageable for many companies over time.We will negotiate with MCA providers for:
- Lower interest rates and fees
- Lengthened payment durations
- Modified daily repayment amounts based on your sales
- Potential principal balance reductions
This improves cash flow while still honoring core obligations.
Business Credit Cards
Whether you have balances across multiple cards or one large credit line, our debt experts can facilitate settlements on your behalf. This includes store credit cards that many small retail businesses rely on as well.
Commercial Bank Loans
If you have SBA loans, lines of credit, equipment financing loans or any other commercial lending, we can negotiate with those creditors. This may include having interest frozen, payments deferred or loan terms restructured.
Business Tax Debt
If you have outstanding obligations with the IRS or state tax authorities, we have specialized tax professionals to help. Resolving tax debt takes navigating unique regulations that our advisors are experts in.
How Long Does Debt Settlement Take?
The debt settlement process typically takes between 2-4 years depending on your specific situation. This allows sufficient time for negotiating with all your creditors and ensuring new payment plans align with your budget.We always aim to settle accounts as rapidly as possible. But numerous factors influence timelines, such as:
- Total number of debts to address
- Willingness of creditors to negotiate
- Statutes of limitations governing different debts
- Logistics of consolidating payments into one monthly deposit
Regardless of how long it ultimately takes, the important thing is regaining financial stability. Our goal is equipping you with long term skills to thrive beyond just the debt settlement process.
Can Debt Settlement Impact Your Credit?
Business debt settlement can impact credit reports in a few ways. Two key things that may occur are:
- Accounts get closed – When balances reach $0 through settlements, creditors may list accounts as “closed” in your credit file rather than “open”. This can lower your overall available credit.
- Credit scores drop initially – As we dispute charges on your behalf, some creditors may mark late payments in the short term. This could cause scores to decline initally.
However, as debts get resolved credit scores typically rebound within 6-24 months. Eliminating debt improves your debt-to-income ratios as well.We also provide tips for rebuilding credit during and after debt settlement. This includes guidance on which new lines of credit or loans that can boost scores most effectively. Within a few years of becoming debt free, you can transform credit profiles long term.
How Much Does Debt Settlement Cost?
Our fees are based on how much debt we help settle on your behalf. The industry standard fee is 15-25% of enrolled debt balances. With Delancey Street, our maximum fee is only 15%.For example, if you have $100K in business debt, and we settle it by having balances reduced to $60K over time, our maximum fee would only be $9K.The key is this: Our revenue is purely performance based. We only earn fees based on actual debt amounts we eliminate on your behalf through settlements. There are no upfront costs or monthly service charges.Our incentives are also fully aligned with your best interests as a result. We are motivated to negotiate maximum reductions and savings because that is how we get paid. This is what enables us to provide such positive outcomes for small business owners with debt.
Are Debt Settlement Payments Taxable?
In certain scenarios, debt settlements that eliminate loan principal amounts may count as taxable income per IRS requirements.There have been some recent tax code changes however that may make debts settled in 2023-2025 non-taxable. This includes:
- American Rescue Plan Act
- Inflation Reduction Act
Our tax professionals can advise you on current guidelines during the free consultation. We also provide complete documentation detailing settled amounts and any potential tax implications.The general principle is we aim to “settle for less than you owe” in ways that minimize taxes owed. Our goal is maximizing true financial savings net of any tax expenses.
Ready to Address Your Business Debt in Mesa, Arizona?
We hope this overview has enhanced your understanding of how Delancey Street approaches business debt relief and settlement. Our customized plans, ethical practices and performance based fees provide effective solutions for Mesa entrepreneurs struggling with debt.To recap – we help with:
- Negotiating lower payoffs for debts owed
- Consolidating multiple debts into one payment
- Improving cash flow aligned with your business finances
- Defending against illegal collection attempts
- Avoiding risks from commercial debt lawsuits
- Rebuilding credit during and after becoming debt free
Our team is here to provide compassionate, judgement free assistance during this challenging period.To get started, please call us at 212-210-1851 or check out our website at https://www.delanceystreet.com.We offer free consultations without obligation to move forward. Let’s have an open conversation about your situation and how we can help resolve your Mesa business debt.