A Merchant Cash Advance (“MCA”) allows an MCA provider (“buyer) to purchase future credit or debit card sales from the merchant (“seller”). The payback amount depends on the merchant’s sale volume. Merchant Cash Advances differ from loans because the buyer of the future receivables takes on the risk of non-payment. When a Merchant Cash Advance is constructed correctly, it will not be considered a loan and will not be subject to state usury laws. However, while the original intent was to provide small businesses with an alternative to traditional loans, predatory lenders have disguised their usurious loans as MCA’s to circumvent state usury laws and charge interest rates that exceed the maximum allowed.
Update as of 6/14/21
Jamal Romero, Esq: Has the pandemic left you without a job and you can’t afford to move. Have you ever wondered if you can stop an eviction proceeding? The following information can assist you if you received an eviction notice.
The price of living can sometimes be high, and often we will be faced with eviction, something that everyone in New Jersey wants to stop. How does one stop an eviction when it starts? This is the question every single renter has asked, especially under times of financial distress. Maybe you were laid off. Maybe your rent is increasing. Either way, your landlord has sent you an eviction notice, one that demands your immediate attention.
It is highly possible that you are in the middle of an eviction right now, facing off against odds that might leave you stranded and without a home. In this event, what are some measures you can take to avoid eviction? And is bankruptcy a solution that might help you?
A Merchant Cash Advance (“MCA”) allows an MCA provider (“buyer") to purchase future credit or debit card sales from the merchant (“seller”). The payback amount depends on the merchant’s sale volume. Merchant Cash Advances differ from loans because the buyer of the future receivables takes on the risk of non-payment.
It is hard to know how to file a personal injury lawsuit if you have never known someone who sued another party for damages. The process might seem unknowable or beyond understanding from the perspective of an outsider. The layman knows the process involves a personal injury lawyer and civil court.
If you are afraid of filing for a personal injury lawsuit, you need not worry. The process to filing is straight forward and matter of fact. Filing for a personal injury lawsuit in New Jersey is a straightforward, simple process. The following information takes the complexities of the process, simplifies them so that anyone can understand how it works, and gives you the knowledge you need to make filing Personal Injury suits easy.
After you make an offer to buy a house and the seller accepts that offer, a pre-printed form of contract is usually prepared by a realtor setting forth the essential terms and is singed by both the buyer and seller. Usually, an initial deposit is provided with an additional deposit to be paid within about ten days of the contract date. Once that process is concluded, however, what comes next?
Your fundamental and continuing obligation as a witness is to tell the truth. There can be no departure from that rule. However, the following are guidelines that may generally assist you in maximizing your effectiveness as a witness. They are not intended as hard and fast rules but, rather, are provided for your consideration and assistance.
Small Business Administration (SBA) loans are no different than other debt and are dischargeable in business bankruptcy. An individual that has personally guaranteed a debt may also discharge an SBA loan. A misperception exists that SBA loans are not dischargeable. SBA loans are entitled to no special priority under the Bankruptcy Code. SBA loans are backed by the government so that when there is a default the loan is insured as to the bank that gave the loan to the borrower. Because the loan is insured, however, does not mean that the borrower cannot wipe it out in a bankruptcy.
The COVID-19 pandemic has put the entire country in an economic crisis. For many people, it might be overwhelming for people to map out a proper strategy to stay afloat, even as we begin to emerge from under the burden of the economic crash.
This blog will be updated to outline different strategies on where to turn during this financial crisis, with a focus on the state of New Jersey. Our law firm’s emphasis is on representation of individuals and businesses in bankruptcy. Many of these strategies are designed to help you avoid bankruptcy. If a bankruptcy is needed, our New Jersey lawyers are there to help you navigate the situation. Let’s look at some strategies and helpful options.
Accidents involving Uber or Lyft and the insurance issues involved are much different from normal auto accidents especially where you are the passenger in the Uber or Lyft car, a pedestrian struck by one of these vehicles, or driving another car and injured as the result of the negligence of an Uber or Lyft car. In New Jersey the legislature passed a special law in 2016 regarding transportation service vehicles like Uber or Lyft. That law is currently developing and will be interpreted by the courts.