Explore expert insights and guidance on understanding and navigating debt.
Explore our articles to learn about debt relief, debt settlement, debt consolidation, and various ways to handle your credit card debt, business loans, and much more!
Are you far behind on your credit card payments? You may be worried that your credit card company will sue you. This is a very real possibility, especially if you owe a large amount and haven’t made any payments for more than six months. But how often do credit card companies sue for non-payment? The […]
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Having a charge-off on your credit report isn’t a great situation. For one, your credit score will suffer. Debt collectors can also call and message you constantly to get you to pay up for your delinquent debt. So, if you’re ready to resolve your charged-off debt once and for all, you might wonder: Should I […]
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Merchant cash advances, often called MCAs for short, can be a tempting offer for struggling small business owners. You don’t need excellent credit and can usually get funding fast. But they’re rarely a good idea for your business. MCAs can be an extremely expensive financing option, with some charging triple-digit interest rates. If your business […]
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Selling a business is rarely simple, but it becomes even more complicated when a merchant cash advance (MCA) is involved. Since MCAs don’t function like traditional loans, the way they affect a sale can be confusing for business owners trying to move on. It’s crucial that you understand how MCAs work, what obligations you have, […]
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Merchant cash advances (MCAs) can provide quick capital for your business for anything from short-term expenses to long-term business growth if you can’t access traditional financing. But MCAs can quickly spiral out of control, especially if you’re stacking more than one at a time. If you’re considering using an MCA for your business, it’s important […]
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If you’re overwhelmed with your credit card debt and you’ve exhausted your traditional repayment options, you may decide to consider either debt settlement or bankruptcy. Both of these debt relief options can alleviate some of the financial pressure your debt has caused and provide you with a fresh start to move forward. Debt settlement and […]
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Quick Summary: Yes, merchant cash advances are legal. However, because MCAs are structured as purchases of future receivables rather than loans, they aren’t subject to state usury laws or the same consumer protections that apply to traditional business funding. This lack of regulation allows for high fees, aggressive collection tactics, and contract terms like confessions […]
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Quick Summary: MCA reverse consolidation doesn’t pay off your merchant cash advance debt. It adds more debt on top of it. A reverse consolidation lender funds your existing MCA payments weekly while you repay them at a lower amount over a longer term. While this reduces immediate cash flow pressure, you’ll owe more total and […]
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Quick Summary: A UCC lien is a financing statement MCA lenders file to claim your business assets as collateral. While standard for business financing, a blanket UCC lien can block future credit and allow lenders to contact your customers directly if you default. To remove a UCC lien, you must pay off the debt or […]
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There are few things more heart-stopping than logging into your bank account, only to realize it’s been frozen. Not only can you not access your money, but your bills also go unpaid due to insufficient funds in your account. Unfortunately, credit card companies can freeze your bank account, but only after taking certain legal steps. […]
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When managing credit card debt, many people worry about the potential consequences of unpaid balances. One of the most severe actions a credit card company can take is placing a judgment lien on your real property — a situation that has many negative consequences and challenges. Read on to learn how a credit card company […]
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Inflation has become a significant challenge for American consumers and businesses, driving up the cost of goods and services across the economy. From groceries and housing to basic needs like healthcare, rising prices are putting financial strain on consumers nationwide. The Federal Reserve has responded to inflation by raising interest rates, creating a ripple effect […]
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Quick Summary: Yes, you can be sued for a charged-off debt. A charge-off does not mean the debt is forgiven. It means the original creditor gave up on collecting and wrote it off as a loss, but they can still sell the debt to a collection agency or sue you themselves. If the creditor wins […]
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Quick Summary: Usually, a 1099-C means the debt was canceled and you no longer owe it. But there are exceptions. Some creditors file a 1099-C after 36 months of no payment even though the debt hasn’t been forgiven. If a creditor is still trying to collect after sending you a 1099-C, contact them to clarify […]
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Quick Summary: If a credit card company sues you, don’t panic, and don’t ignore it. You may be able to get the lawsuit dismissed if the debt isn’t yours, you already paid it, the amount is wrong, or the statute of limitations has passed. The key is responding on time, gathering evidence, and working with […]
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Your initial phone consultation is free and requires no committment!
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Your initial phone consultation is free and requires no commitment!
A team member will respond within 1 business day. Your free consultation phone call may not be with an attorney and does not include legal advice. This is limited to the first call on a new matter.
Your initial phone consultation is free and requires no commitment!
A team member will respond within 1 business day. Your free consultation phone call may not be with an attorney and does not include legal advice. This is limited to the first call on a new matter.
A Tayne Law team member will respond within
1 business day.
Call (866) 890-7337