Communication prior to a Default is Critical:
An MCA funder is a predatory lender. Predatory lenders want to get into a deal and get out as soon as possible. The sooner they can redeploy their capital, the sooner they can generate even more profit. A loan in the guise of an MCA, is designed to be a short-term loan and the repayments, whether daily or weekly extremely burdensome.
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Make Certain all Negotiations are in Writing and Documented.
Make sure to document all communication. If you reach out by email, send it as urgent. If you speak over the phone, follow up with a “summary of our conversation” email. Do not leave anything to chance. He said – she said fails in Court. Facts and indisputable evidence like an email does not.
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