If you have entered into a contract to make daily payments on a merchant cash advance, all is not lost. You can either talk to your creditor directly [which has some risks*] or hire a professional negotiating team.
If you consider a team, ask to see their exact settlement track record with your specific creditor[s]. Also make sure that any fees you pay are performance based [with the exception of small set-up fees] and built into the settlement. "Retainers", or upfront fees, that are based upon the percentage of debt, should be considered unacceptable.
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* Here are two risks: 1) Calling to ask the creditor alerts them to the possibility that you may have trouble keeping to terms of the agreement, so you need a plan going in.
2) When you call, the creditor may very well surprise you by making an offer right then and there - but it's unlikely the offer will be what you need. Think about your parameters before you call. We find that an offer that is actually affordable has to be many times better than the creditor typically suggests. Also, get any new settlement in writing and make sure it is a concrete offer, not just "reduced payments" for a short amount of time. See our guide for additional help.
$160,000 settled for $67,000, a $93,000 savings. " I'm happy to say I'm still in business after all these years "
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Free Consultation: We will examine your payables, discuss the threat levels, show recent settlements with your creditors and tell you how we would solve the problem - This alone is priceless if you are in trouble- How can we do this? We have settlled over 50,000 debts in 18 years. Call us now for a free consultation: