South Carolina MCA Defense Lawyers Business Debt Relief

If you run a small business in South Carolina and are struggling with debt, there are options available to find relief. Business debt can become overwhelming, but the right legal guidance can help business owners navigate their situation and work towards financial stability.

Understanding Business Debt in South Carolina

South Carolina business owners have access to various financing options, including merchant cash advances (MCAs). MCAs provide quick access to capital by allowing a business to receive an upfront lump sum in exchange for a percentage of future sales over a set period of time.While MCAs may initially seem attractive, they also come with risks:

• High interest rates – MCA rates often translate to over 60% APR or higher
• Overreliance – This manifests through overreliance on limited data, ignoring total debt obligations, and rushing due diligence
• Securitizing – Securitizing MCA loans provides capital for lending but incentives maximizing volume over loan quality

As a result, MCA repayment terms coupled with these issues can create crushing debt burdens for small businesses if sales decline or expenses rise unexpectedly.If you took out an MCA in South Carolina and are now facing unmanageable payments, know that defenses exist under South Carolina law that could provide relief.

South Carolina MCA Defense Lawyers

Delancey Street has a network of South Carolina attorneys available as part of our comprehensive debt relief program. We take an empathetic approach and tailor solutions to each client’s specific situation.Potential defenses our lawyers may deploy could include:

Unconscionability

• Argues one-sidedness of contract terms
• Basis to invalidate agreements deemed extremely unjust or overwhelmingly one-sided

Courts have found unconscionable terms in MCA contracts, including excessive interest rates or unreasonable default repayment multiples.

Breach of Covenant of Good Faith & Fair Dealing

• Implied in every South Carolina contract
• Requires parties to act fairly and in good faith
• Breached if a party uses contract terms oppressively or to prevent rights/benefits owed to other party

For example, our lawyers could argue an MCA company breached good faith by misrepresenting repayment terms or failing to properly explain obligations.

Fraud & Misrepresentation

• Requires showing false statement regarding material fact
• Our lawyers investigate sales calls and contracts for potential evidence of deception

If discovered, this could form basis for legal claim against MCA funder.

South Carolina Business Debt Relief Approach

In addition to exploring potential legal claims, Delancey Street’s business debt relief program takes a holistic approach. We have an easy process and assign a dedicated expert to each client. Key elements include:

• Document Review – We collect and examine all contracts and statements to understand total obligations and identify potential defenses
• Settlement Negotiations – Our experts negotiate with creditors to reduce balances and create affordable payment plans
• Ongoing Support – We provide budgeting help and business advice so clients can achieve long-term stability

Relief is possible, even when debt feels overwhelming. If you run a South Carolina small business struggling with an MCA or other debts, contact us today to discuss your situation confidentially. Our empathetic team can help you understand all options and chart a path towards financial freedom.

Frequently Asked Questions

What are the main defenses against MCAs in South Carolina?

The main legal defenses our South Carolina business debt relief lawyers use against MCAs include unconscionability arguments, breach of covenant of good faith and fair dealing claims, and investigating any potential fraud or misrepresentation.

What makes MCAs risky for South Carolina businesses?

Merchant cash advances often translate to 60%+ APRs and come with other risks like overreliance on limited data, ignoring total debt obligations in approvals, and lack of due diligence. This can create crushing repayment burdens if sales decline.

What relief options exist beyond legal claims?

In addition to investigating defenses, Delancey Street’s business debt relief program focuses on global settlements through negotiations, creating affordable payment plans, providing budget help, and offering ongoing business advice. The goal is long-term financial stability.

Why choose Delancey Street for South Carolina business debt help?

Delancey Street takes an empathetic approach, tailoring solutions to each business’s specific situation. We have an easy process and assign a dedicated expert to every client to provide document review, settlement negotiations, budgeting assistance, and business advice.

How much do Delancey Street’s services cost for South Carolina businesses?

The exact cost depends on the specifics of each case. However, our experts only collect a fee if settlements and savings are secured for clients. Contact us for a free, no obligation case assessment.

Get South Carolina Business Debt Relief Help

If you run a small business in South Carolina struggling with overwhelming debt, Delancey Street has experts who can help. Our team takes an understanding, client-focused approach to create customized debt relief solutions.We explore potential legal claims while also negotiating global settlements, affordable payment plans and providing budget help to achieve lasting financial stability. Every client gets a dedicated expert guiding them each step of the way towards freedom from business debt.Contact us for a free case assessment and see why we’re trusted by South Carolina small business owners as the best choice for comprehensive business debt relief.