Many businesses turn to business debt settlement because they are overwhelmed by MCAs. However, MCAs have their place when it comes to business funding, though, infusing quick cash when you need it most. MCAs can become a burden if you have landed in a cycle of taking out one MCA to pay off another MCA.
Unfortunately, your cash flow becomes limited and you are often paying extremely high fees, with APRs reaching 100 percent or more!
Business debt relief is available if you are struggling under the weight of MCAs. Your options for business debt help include reverse consolidation or debt settlement renegotiation. A Reverse Consolidation deposits money into your bank account on a weekly basis to cover your MCAs. In return, you make a small payment to the reverse consolidation company for an extended term. This frees up your cash flow, so you can continue to meet your business expenses. As a result, your cash advances are eventually paid off, leaving you in favorable financial standing.
You may be asking, “Is my business debt too high?” if your MCAs are unmanageable. Another option our advisors may explore is Debt Settlement Renegotiation. With renegotiation, we work with you to stop the daily withdrawals and have you set aside regular payments in a dedicated account instead. We communicate with your MCA companies to negotiate the most favorable settlement option possible on your behalf. We use your funds to pay the settlement, so you can move forward without the burden of MCAs tied to your business name.