Debt Savvy Helps - Before Default
Lack of Cash Flow is the one common issue all of our client’s face. Our typical client has multiple positions with different advance companies. With all their future receivables pledged away, they have no money for day to day operations and are struggling just to keep their heads above water.
Contrary to what other providers say, you can get help before you miss payments and before you’re in default. Defaulting will lead the MCAs you owe to retaliate with any or all of the following actions:
Liens
In addition to filing COJs to try to freeze your bank accounts, the MCAs will file a UCC lien. Once filed, they will send a copy of the lien along with a demand letter to your merchant processors and/or your current and past customers, to freeze any receivables they can find. The MCAs will make sure your customers know that they have a lien against any money owed to you, and your customers will be instructed to pay the MCA company instead of paying you. We can help!
Uniform Com. Code Liens
Judgements
Missing just 1 or 2 payments to an MCA may be deemed a default of your agreement. If you signed a COJ, upon default, the MCA will file a judgment against you personally and your business, which they will then use to try to freeze your bank accounts and possibly even your merchant processing accounts. Without access to your money, it will be impossible to pay your employees or any other obligations you may have. They see all your money as their money – we see otherwise.
Confession of Judgement
Guarantee
Closing your business to avoid paying? Did you perform ANY of the 5 common breaches:
(1) take out multiple MCAs, (2) stop any payment,
(3) open a new bank account, (4) open a new merchant account, or
(5) pay only ‘what you could’ instead of the contractually specified percentage. If you did, the MCAs can use the COJ (also a personal judgment) to collect from your own assets! If no COJ, they can sue you to collect on the personal guarantee that you signed. So we stop them.
Personal Guarantees (Pg)
Be Part of the Team
Want to become part of the Debt Savvy Team?
Reach out to one of our friendly staff today and find out why we are one of the fastest growing companies in the space!
Debt Savvy is Growing!
Testimonials
Take a look at what some of our clients have had to say about us
Katelynn M. Rated 5 out of 5 stars
Jan 12, 2022
As a small business owner with a service of high demand, especially during natural disasters, we found ourselves growing too big too fast! We ended up taking some offers from some MCA companies for quick capital and found ourselves quickly drowning in high daily and weekly payments that were draining our accounts quicker than we could fill them! The Debt Savvy team has not only been very communicative, friendly and available to us whenever we have questions but they were able to help us consolidate all of our payments into one affordable weekly payment. We were able to catch up on our finances and finally get back ahead of the game! Meanwhile the Debt Savvy team managed our accounts daily and negotiated with our lenders until they settled for us! They have been such a wonderful blessing and have helped our company tremendously. I can’t thank them enough for all the hard work and dedication they have put towards getting our business back on the right track and moving forward!
V. Prasat Rated 5 out of 5 stars
Jul 26, 2021
Right Companion during financial hardship
Being an Entrepreneur in the current pandemic is like walking in a hurricane. At the time when you need funds to scale your entity, and when other traditional channels close the doors, merchant cash advance(MCA) comes handy. MCAs look very attractive and can be very beneficial when used wisely. It's a falling sword.
With numerous funding companies and many intermediate folks one can easily become over leveraged with multiple MCA. Early renewals, reverse consolidation, multiple fees, broker fees made my situation in to disaster. Overall debt piled up like a snow pile in no-time even before I could realize it. A small damage in business made the situation worst.
One needs a lot of courage with non-stop phone calls, emails, piling debt and falling business. It can force one to take the wrong decision and will affect everyone’s life around us. “Debt Savvy” was a savior and had been a hand holding companion in my touch journey. Great team of folks with mix of team including legal, negotiation, credit, finance etc. From day 1 they try to support in all possible ways to make one come out of this worse situation. They understand how to handle each situation and guide in right way. Without Debt Savvy it wouldn’t have been able to come back to growing path.
I would strong recommend Debt Savvy to anyone who are in need of financial assistance in all possible ways.
Business Hours
Monday - Friday
09:00 am – 12:00 pm
01:00 pm – 06:00 pm
Saturday
09:00 am – 12:00 pm
Appointments only
Sunday
Closed