MCA Lawyer- A law firm focusing on settling Merchant Cash Advance loans for clients across all 50 States. MCA Attorney Texas. Grant Phillips Law, your Merchant Cash Advance.
MERCHANT CASH ADVANCE ATTORNEY-TEXAS
Merchant Cash Advance Attorney Texas
Do the majority of your business revenues go towards daily ACH payments?
Did you personally guarantee your MCA loan?
Did the funder make you sign a COJ / Confession of Judgment or Agreed Judgment?
Is there a UCC filed against your business?
Are you paying a fixed amount on your MCA loan despite a change in your business cash flow?
Are funders, their attorneys or collection agencies calling, texting and harassing you?
Does your Credit Card Terminal have a lock box?
Do you need to change your MCA repayment schedule to monthly payments from daily?
Are your business or individual bank accounts frozen?
Have your clients or vendors been contacted by your Merchant Cash Advance funder?
Did you attempt to restructure payments to the Merchant Cash Advance funder due to a fluctuation in your sales volume and revenues? Was it granted?
Were you asked to put up any personal collateral like your residential home?
If you answered yes to any of these questions, contact Grant Phillips Law, PLLC helping Texas Merchants. A law firm focusing on settling Merchant Cash Advance loans for clients across all 50 States. MCA Attorney Texas. Grant Phillips Law, your Merchant Cash Advance Attorneys Texas. Let us review your MCA contract for illegalities. Let’s settle your Merchant Cash Advance loan with your Texas Merchant Cash Advance Funder. MCA Loan Restructure Attorney
Texas Merchant Cash Advance Law
In Texas, Merchant Cash Advance law governs both Merchant Cash Advance Funders and Merchant Cash Advance Merchants. In Texas Merchant Cash Advance law, one of the most important factors in deciding a loan from a Merchant Cash Advance in Texas is whether the Texas Merchant must repay his Texas Merchant Cash Advance unconditionally (i.e. No matter what happens). When the repayment is unconditional and the merchant’s re-payment is absolute, no matter circumstance, then the Funder is committing usury as the Courts will find it to be a loan.
Remember under Texas Merchant Cash Advance law a merchant is only selling its future receivables if receivables are generated by the business. If the business does not generate sufficient receipts due to adverse business conditions, beyond the control of the merchant, the merchant cash advance funder must carry the loss. The merchant’s legal duty is to deliver future account receivables but only if the business is a going concern and generating receivables.
In other words; Unconditional re-payment of a Merchant Cash Advance, is illegal in Texas.
You will find the Texas Merchant Cash Advance laws in Sections 306.103 and 306.001 of the Texas Code, where it states: “if the parties intend to enter a transaction to sell accounts at a discount and characterize the transaction as such, ‘it cannot be a loan or line of credit’ and any discount charged under such a transaction is not interest.”
The answer to dealing with these issues and laws and face a Texas Merchant Cash Advance funder on equal footing, is to fight back with the help and expertise of a Texas Merchant Cash Advance Attorney. A Texas Merchant Cash Advance Attorney will look to prove the deal illegal, flawed or fraudulent. Your Texas Merchant Cash Advance Attorney will amongst many other legal tools argue some of the following (if applicable):
Visit for click: https://grantphillipslaw.com/merchant-cash-advance-attorney-texas/
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