MERCHANT CASH ADVANCE ATTORNEY – FLORIDA

The archetypal description of whether a transaction is a sale of future receivables or a loan, the U.S. Second Circuit Court of Appeals described the distinction as follows:

“A sale is the transfer of property in a thing for a price in money. The transfer of the property in a thing sold from a buyer to a seller for a price is the essence of the transaction. And the transfer is a transfer of the general or absolute property as distinguished from a special property.

A loan of money is a contract by which one delivers a sum of money to another and the latter agrees to return at a future time a sum equivalent to that which he borrows. In order to constitute a loan there must be a contract whereby, in substance one party transfers to the other a sum of money which that other agrees to repay absolutely, together with such additional sums as may be agreed upon for its use. If such be the intent of the parties, the transaction will be considered a loan without regard to its form. In re Grand Union Co., 219 F 353, 356 (2d Cir. 1914) (internal citations omitted) (cited as the “classic definition of a loan” by Cazenovia College v. Renshaw, 222 F.3d 82 (2d Cir. 2000)). Therefore, provided the Merchant Cash Advance transaction does not require the Merchant to “repay the MCA loan absolutely,’ such a transaction should not be considered a loan. If a merchant cash advance transaction is deemed to be an unconditional promise to repay, a court may re-characterize it as a loan.”

SOLUTIONS

The answer to dealing with a delinquent Florida MCA loan or one that is eating away at all your hard earned revenues is to face the Florida Merchant Cash Advance funder on equal footing, by retaining an attorney with more than 17 years of Debtors Rights experience and 10 years of Merchant Cash Advance law for borrowers. With the help and expertise of a Florida Merchant Cash Advance Attorney, your contract will be reviewed for legality, your story and facts will be listened to and acted upon if there are any illegalities. A qualified law firm will to prove the transaction to be illegal, flawed or fraudulent as well as have it ruled to be a loan and thus sue for usury and attorney’s fees if applicable. Your Florida Merchant Cash Advance Attorney will amongst many other legal tools argue some of the following (if applicable):

Prove the entire Florida MCA deal to be a loan and subject to Florida usury law. Florida Merchant Cash Advance funders claim their businesses to be legal. However, if your Florida Merchant Cash Advance Attorneys discover any illegalities in the Florida Merchant Cash Advance Contract or facts that create a loan rather than a Merchant Cash Advance, they will use this to force a settlement in your favor or to sue the Florida MCA funder for fraud. 

These rights can be invoked and protected immediately upon retaining a Florida MCA attorney.  Select a Florida Merchant Cash Advance Attorney to analyze your MCA transaction, facts and Contract for flaws and illegalities and have them take action on your behalf, to the fullest extent of the law.

Grant Phillips Law seeks justice for our clients and we stand shoulder to shoulder with you as you battle the Florida Merchant Cash Advance funder. At Grant Phillips Law you are never alone. Contact: You will ALWAYS speak to one of our attorneys, never support staff and you will be provided with the personal cell phone of your lawyer. Our fee is a one-time flat fee. Cost: Data over the last 7 years has shown our law firm to be the cheapest Merchant Cash Advance Law Firms in the USA. Our Legal Representation Fee is cheaper than any other MCA law firm or Debt Settlement Company throughout the country. [Bring a verified representation proposal from another law firm and we will match it and discount it by 10%. Expertise: 17 years Debtor Representation. 10 years of MCA representation of Merchants. Thousands of Bankruptcies filed.

Grant Phillips Law is unafraid to obtain justice for our Merchant clients. As such, if we find fraud or other illegalities in your case, we will consider suing the funder accordingly. To date this law firm has obtained numerous multi-Million Dollar Settlements for clients who are victims of fraud. We have sued funders for large cash settlements and if your case warrants it, we will do the same for you.

Don’t take it on the chin. Preserve your opportunity to get true justice for the crazy interest you have paid to the Florida Merchant Cash Advance funder who is debiting your business daily.

Florida Merchant Cash Advance Law has held that to be a legal Florida Merchant Cash Advance the transaction better “walk, talk and act” like a real Florida Merchant Cash Advance versus a loan merely dressed up as an MCA.

Merchant Cash Advance Attorney Florida

Did you know?

New York (the epicenter of MCA) enacted a law in September 2019 banning New York Funders from issuing a Confession of Judgment to an out of State borrower like a Florida Resident. For example a borrower from Florida takes out an MCA from a New York based MCA funder, that funder cannot issue the Florida based borrowing Merchant a Confession of Judgment / COJ.