Oklahoma MCA Defense Lawyers
A Merchant Cash Advance (MCA) is when a business gets cash upfront in exchange for giving away a part of future sales. Not a loan—an advance. But MCA Contracts Are Tricky! MCA contracts are often written to favor the funders. Oklahoma MCA defense lawyers know how to fight back—by reading between the lines! Why You Need an MCA Defense Lawyer: You don’t want your business going under due to unfair MCA terms. MCA lawyers protect you from unreasonable daily repayments or sneaky clauses.
MCA Lawyers Know Your Rights!
Ever heard of the Uniform Commercial Code (UCC)? Oklahoma MCA lawyers know UCC liens can freeze your assets—but they’ll fight to unfreeze them! What’s a UCC Lien? A UCC lien is when funders file a legal claim to your receivables. It means they can take your incoming cash until you pay back what they want. How Oklahoma MCA Lawyers Win with UCC Laws: Your MCA defense lawyer can prove UCC liens were unfairly placed—freezing your funds might be illegal! Lawyers use UCC laws to unfreeze money. UCC Article 9: Article 9 of the UCC governs secured transactions, like MCAs. Lawyers challenge funders’ compliance with Article 9 to protect you.
Unlawful Confessions of Judgment (COJ)
COJs allow funders to win judgments without trial. In Oklahoma, COJs may be challenged if the funder violated terms. That’s where lawyers come in. NY Ban on COJs for Out-of-State Businesses: New York banned COJs for out-of-state businesses. Oklahoma MCA lawyers use this to protect Oklahoma businesses from illegal COJs.
Lawsuit Defense: Frozen Accounts
Oklahoma MCA lawyers will fight if your accounts are frozen. They’ll argue the lien or COJ wasn’t properly filed, using UCC laws to challenge it. Void MCA Agreements: Your MCA agreement might not be a loan, but Oklahoma lawyers know how to void agreements if they’re full of unfair terms or misrepresentations.
Usury Laws – Are MCA Terms Usurious?
Some MCA agreements might violate Oklahoma’s usury laws, which limit how much interest can be charged. Lawyers can void them if they’re illegal. What’s Usury? Usury is charging excessively high-interest rates. In Oklahoma, there are limits—and lawyers know how to argue MCAs cross those limits. Partial Wins in Court: Even if you can’t win outright, Oklahoma MCA defense lawyers might get part of the debt reduced. This happens when contracts break state laws. How Do MCA Lawyers Reduce Debt? By proving contracts had unclear terms or unfair conditions, Oklahoma lawyers can get some of the debt forgiven. Partial win? Absolutely!
Lawsuit Settlements
Settlements happen often in MCA cases. Your lawyer will negotiate lower repayments, avoiding the need for long, costly lawsuits. Fraudulent MCA Brokers: Did your broker lie about the MCA terms? Oklahoma lawyers can sue for fraud if they misrepresented your deal or stacked your advances. Broker Liability: In Oklahoma, if your MCA broker committed fraud or misrepresentation, lawyers can hold them liable. You could get compensation!
Stacking MCAs
Stacking is when brokers push multiple MCAs on a business at once. Oklahoma MCA lawyers argue that this practice is predatory—and they win. Fraudulent Stacking Practices: Oklahoma lawyers use fraud laws to prove brokers stacked MCAs unlawfully—resulting in partial or total contract forgiveness!
MCA Bankruptcy Options
MCAs can be discharged in bankruptcy—but you need a skilled Oklahoma lawyer to navigate the process. It’s not as straightforward as it sounds. Bankruptcy Law: Chapter 11: If your business is underwater due to MCA debt, an Oklahoma lawyer might recommend Chapter 11 bankruptcy, restructuring the debt to stay afloat. Chapter 7 Bankruptcy: In some cases, filing Chapter 7 might be necessary. MCA lawyers ensure personal liabilities are addressed and personal guarantees are protected.
Defending Lawsuits
If your funder sues you, Oklahoma MCA lawyers defend aggressively. They’ll delay judgment, giving you time to raise funds or negotiate settlements. The Judgment Defense: Oklahoma MCA lawyers use procedural defenses like improper service or lack of jurisdiction to fight judgments. Timing matters!
UCC-3 Terminations
After winning, lawyers make sure the funder files a UCC-3 form to remove any UCC lien against your business. This frees up your assets! Real-World Precedent: In Cohen v. MCAs, Inc., the court ruled the MCA terms were illegal due to high fees and usury violations. Oklahoma lawyers use cases like this!
Why You’ll Likely Win
Even if you don’t win everything, your Oklahoma MCA lawyer will likely reduce the amount owed or restructure your payment plan! The Right to Sue Funders: Oklahoma MCA lawyers don’t just defend. They also sue funders for breach of contract, misrepresentation, or unlawful collection practices. Your Oklahoma MCA Lawyer Fights for You: MCAs are complex, but your lawyer knows the laws, loopholes, and legal precedents to win—even if it’s a partial win. Your business can survive!