Heskin, who testified last year before Congress about the lenders' tactics, said one of his law partners found a disemboweled rat splayed atop his mailbox in front of his home. The FTC's lawsuit alleged that Yellowstone . Mr. Sininsky was personable, honest, deligent, and stayed in communication with me every single step of the way. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. "I'll show you what type of loser you are you clown of a man.". The New Jersey Attorney General recently announced a settlement in its lawsuit against Yellowstone Capital LLC, its parent company, and various. The FTC alleged that RCG, Giardina, and others stitched together a blanket of misrepresentations that cloaked the true nature of the transaction. The below options each have their own benefits and drawbacks. Your guidance, understanding and expertise were very comforting to us .Of course we are so happy that this situation is now settled. At a time when many small businesses are struggling to stay afloat, the FTC is paying close attention to the tactics of companies claiming to throw them a financial lifeline. Some business owners said they are being swamped with new texts and emails offering funds. We dont benefit from getting you to hire our law firm, but instead, we benefit when we get the job done for you. Aggressive Business Lawyers at Affordable Rates I wasnt even their client at this point and they were already going above and beyond. Are your accounts frozen or have liens been placed on your assets? In a return email, he said the firm had decided to stand down for the moment. Debt relief is an important decision, and we wont rush you! UCC liens are by far the most frequent issue we hear about from those first contacting our Law Firm for help after having defaulted on their payment obligations. We will send notification of power of attorney to your actual MCA Purchaser, their collectors, their attorneys, and even the Marshall or Sheriff if they are now involved. We will explain in great detail all aspects of each process including the risks & fees not just how much money you can save. (Continue reading below to learn how we can help). Advance . Once retained, we immediately send a copy of our Limited Power of Attorney to your creditors, debt-collectors, or attorneys. The dual dynamos that power our economy are Americas 32 million small businesses and the more than 60 million people they employ. The next thing you know, bank accounts and incoming receivables are all frozen leaving the business owner without funds to operate. Click Here to be Directed to a separate page. Clients Cry Foul Over Litigious Litigation Finance Company (4) A similar case Platinum Rapid Funding Group Ltd. v VIP Limousine Services., Inc. can be found here. The only source of capital he could find was from merchant cash advance companies. We work quickly on your behalf as the longer you delay with a deed in lieu of foreclosure, the more fees your lender will charge. The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. And for . The complaint also cites examples of businesses being left with bank overdraft fees as a result of the unauthorized withdrawals. Are you getting hounded by collection calls that you want us to take over on your behalf? Mike was able to work with me, keep me calm and focused, and I have gone from being in foreclosure to NOT being in foreclosure!! Perhaps I will be like that one day (in another life). Peter L Valley Stream, NY 3-2-17, When I initially called, I spoke to Mike. Now, amid the coronavirus crisis, the lenders have come for their money. Equally appreciative is the post-resolution services and relationship that Dramer, Retain Our Law Firm and Let the Savings Begin, Debt Collection Violation Lawsuit Results. Merchant cash advance operators settle FTC charges for bilking small For an optimal experience visit our site on another browser. Federal government websites often end in .gov or .mil. They were patient and very helpful with my case. It shows the kind of threatening language described in lawsuits by the FTC and the state of New York. It is at this time they will realize the debt settlement company is not looking out for your best interest, but instead, their own best interest which is to collect their absorbent fees. In addition to potentially saving you money, retaining Dramer Law will save you time as we, Our Lawyers Can Help Whether or Not You Signed a Confession of Judgment. Before sharing sensitive information, make sure youre on a federal government site. As in any industry, some of the companies' practices are more problematic than others. An official website of the United States government. According to the, In addition to the $2.7 million financial judgment with RCG and Giardina, the just-announced. But keep in mind, this is a moderated blog. Itria Ventures of New York City, an affiliate of Biz2Credit, is among the merchant cash advance companies that filed numerous lawsuits in March. At The Law Offices of Kenneth H Dramer PC, before we make any recommendations, our debt lawyers, certified debt relief specialists, and paralegals are trained to ask the right questions to find out about your specific situation. According to the FTC, the company threatened people with physical violence, telling one person they would break his jaw if he didnt pay. It is your debt and your money, soyou have the final say in all of our negotiations. We think back at how hopeless we were feeling when we first contacted you and your firm, how reassuring it was to speak with you and how you empowered us to get this dark cloud behind us. Merchant cash advances are a form of financing in which a company provides money to a small business up front in exchange for a larger amount repaid through daily automatic payments. Unless your case involves one of our attorneys having to go to court, our negotiation service fees are flat fee based not charged hourly. "You can't have people freezing assets and demanding payments at a time like this. as well as any of your customers that pay you! Learn more about consumer topics at consumer.ftc.gov, or report fraud, scams, and bad business practices atReportFraud.ftc.gov. The .gov means its official. Our MCA Settlement Attorneys and debt relief negotiators have combined decades of experience in contract renegotiation. These actions cause collectors to seek other measures to collect, often meaning lawsuits. Nothing will be hidden from you as we are a full disclosure law firm. The company, PowerUp Lending Group of Great Neck, New York, had given North River money to be repaid from the stores' future sales. 12-14-17, They were very helpful. It is our goal to help you find the right funding solution for your unique needs and situation. Give Mike a call and a chance, his very sharp and on the point. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Call the police I don't care.". Find the resources you need to understand how consumer protection law impacts your business. Small businesses sued by Itria included a builder's company in Minnesota, a grocery in South Carolina, a Holiday Inn Express in Wyoming and a barbecue joint in Alabama, court filings show. I highly recommend them. Jamie M. Seaford, NY 5-30-2017, I just wanted you to know it has been an absolute pleasure working with you. When they reached $70,000 a month, he had trouble paying his vendors. What to Do When You Can't Pay a Merchant Cash Advance from Blursoft When you stop paying on your merchant cash advances, a merchant cash advance lawsuit will quickly be filed against you and your business. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. Merchant cash advance companies provide funds to businesses in exchange for a percentage of their revenues, often in the form of daily withdrawals from the businesss bank account until the obligation has been met. You will be assigned a specific member of our team that will be in constant contact with you throughout the process. The court proceedings were annulled, and agreeable working terms were consolidated with my creditors. From the initial consultation and throughout the entire process ,Michael patiently and fully explained everything. In mid-2018, Runion, an oral surgeon, wanted to add a second location to his practice and had initial approval from a bank for financing. Floral Park, NY. Mike handled my case, hes very professional and efficient, he made sure I understand the whole process, any questions I have are answered promptly. So when small businesses become targets for misleading claims, deceptive tactics, and flat-out intimidation, the FTC takes notice.
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