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How about cash advance/merchant sevice processors

Date: Sat, 09/06/2008 13:23
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We have a small business and got a 10,000 cash advance. We have to pay back 14,000. they take 20% of each transaction we run through our machine. long story short... we havn't beenusing that machine and they call threatening to foreclose the business, put a lien on our house and saying there will be huge court cost, the company is First Funds. Any advice?




Business debts are different beasts for consumer debts. For starters, fdcpa does not apply.

You may want to refer to your contract or the agreement you have with the lender. It should list out consequences...

Sub: #1 posted on Sat, 09/06/2008 - 17:20

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