Unfortunately, debt is a way of life for most Americans. In 2021, total outstanding consumer debt reached a record $15.6 trillion, according to new data from the Federal Reserve Bank of New York. A large chunk of that debt came from mortgages, as well as credit card balances, which increased by $52 billion in the […]
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It’s common for small businesses in need of extra cash to seek out merchant cash advances (MCAs). Unlike a traditional business loan, merchant cash advance companies provide a lump-sum payment in exchange for a certain percentage of your future sales or revenue. The approval and funding process is very quick — sometimes just one or […]
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As a small business owner, maintaining cash flow can be challenging. For example, you might have relied on a merchant cash advance to cover your expenses. Except now, you’re behind on payments and facing an MCA lawsuit in New York. You might be wondering, “now what?” First, know that there’s no need to panic. Below, […]
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Merchant cash advances can provide quick and easy cash for small businesses that have ongoing sales but need cash right now. But like any other financing option for your small business, there are both benefits and drawbacks to using a merchant cash advance (MCA). Understanding merchant cash advance pros and cons can give you the […]
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If you were recently in over your head with debt, you may have negotiated a debt settlement with your creditors. That likely provided much-needed financial relief. But now, you might be wondering how that settlement affected your credit score — and how long it will stay on your credit report. Here’s what you need to […]
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As with a small business loan, a merchant cash advance (MCA) involves a contract between you and your provider. If you stop making your payments, it could result in a merchant cash advance breach of contract, and the MCA lender could sue you. Dealing with merchant cash advance legal issues can be a pain for […]
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Credit cards can be helpful tools for managing your cash flow and earning rewards. However, it’s also easy to rack up a big balance. According to the Federal Reserve, credit card interest rates are also pretty high; the average is 14.51%. Meaning the more credit card debt you accumulate, the harder it becomes to pay it […]
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Getting in over your head with debt can be scary, especially if debt collectors have threatened to sue you. However, you have certain rights and protections as a borrower that are important to know. That includes the statute of limitations on debt, which varies by state. So if you’re a New York resident facing a […]
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Dealing with thousands of dollars in debt can feel like a hopeless situation. Fortunately, several options are available to help you get it under control, including bankruptcy. However, filing for bankruptcy isn’t a quick fix for your debt problems. Therefore, it’s essential to understand the pros and cons of bankruptcy so you can make an […]
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If you have a past-due debt in collections, it can be nerve wracking to deal with debt collectors. Especially if you aren’t sure what your rights are. Fortunately, there are debt collection laws in place to protect you from unscrupulous practices. A big one: the Fair Debt Collection Practices Act (FDCPA). Read on to learn […]
Read NowWhile our staff and attorneys are based in New York, Tayne Law Group P.C. serves clients from across the country! Whether you prefer to talk on the phone, schedule a video call, or want to come into one of our New York locations, our staff and lawyers are here to answer any of your questions.
Debt relief is an umbrella term representing many solutions that may lower your debt. What kind of debt do you have?
If you’re dealing with a lawsuit, judgment, frozen bank account, notice of wage garnishment, lien, or simply feel out of control of your debt–you are not alone. Give us a call or schedule a free consultation. We’ll help you understand what’s going on and find the best possible debt solution.
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Your initial phone consultation is free and requires no committment!
A team member will respond within 1 business day.
A Tayne Law team member will respond within
1 business day.
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