Hire your own lawyer instead if you are thinking of using MCA or Coastal Debt Resolve. I signed up with Coastal Debt but then figured out after the fact that the actual company handling my account was MCA Resolve. Please reach out to me and I will be happy to tell you my experience. Look up Vance at Atlanta Auction Gallery. I have a merchant cash advance "loan" with Headway Capital. Since February 2024, I have been paying weekly to MCA Resolve to satisfy their retainer of $25K, and during that time Headway hasn't filed any legal action against me. Coincidentally, that retainer was satisfied a few weeks ago and now MCA is starting to "negotiate" with Headway Capital. My original debt was $84K and Headway is willing to settle for $66K right now but after I add back MCA's retainer, I will be paying back $91K! So they are literally costing me an additional $7K. My advice is to wait and try to negotiate with the lender directly. Hire a lawyer only if the lender files a suit against you. I could have got a lawyer in NYC to fight this for less than $5000.00. It is a racket.
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Are merchant cash advances negatively impacting your business, causing a strain on your available cash flow? Look no further. At MCA Resolve, our team of experts specializes in assisting you with settling or restructuring your merchant cash advance debt. With our extensive experience in negotiating debt settlements, we can develop a comprehensive plan to help you regain control of your business and achieve financial freedom.See more
