Question Need Attorney in NY to answer Complaint... help

[MasterOfNone]

Hi,

I was sued by an MCA creditor in NY, i live in NC. I desperately Need Attorney in NY to answer Complaint asap.

has been hard finding someone reasonable from NC.

I'm one of you can recommend someone you have used before that could help me. I would greatly appreciate it.


Thanks in advance!


MoN

[justbroke]

I don't have any recommendations. Did you look on AVVO?

[MasterOfNone]

Thanks, I didn't but has been hard... all the ones I talk to they want 3 to 5k to answer the complaint.

But most want to try to steer me to settle the account and get a 10-20% percent of any discounts from creditor...

pretty wild out there... 😓

[despritfreya]

1. Get your money out of any national bank you and/or your business is using. The MCA creditor, once it has a judgment, will garnish any bank account that it can find (typically big banks Chase, Wells Fargo etc.) even if it does not domesticate the judgment in your State.

2. Forget defending. Go talk to an attorney about bk. If you have 1 MCA loan my guess is you have several of them.

Des.

[MasterOfNone]

Thanks for the advice... I'm trying to fight this battle a little alone. I have a very complex case.

is the only MCA, but I do have a few lines of credit like amex, bluevine, etc.

The biggest this is a SBA.... but so far the MCA creditor is the only one super aggressive. I'm about 60 days on most stuff..

[MasterOfNone]

I guess is how I was feeling but in reality my attorney is not licensed in NY and the SBA I have to handle alone due to the personal guarantee, but other than that, he has it covered..

[despritfreya]

I don't understand. SBA is not a problem in a bk. The MCA lender most likely recorded its UCC1 after the one recorded by the SBA. Chances are the assets of the business are worth less than the amount owed to the SBA thus making the MCA lender totally unsecured in a bk. Your entity is headed to a Chapter 11 Subchapter V. You, depending upon the total debt, are headed to a Chapter 13.

Maybe I need to look at your other posts to see if there were any unusual issues that I am missing but I do not see anything really complicated in this thread.

Des.

[despritfreya]

I decided to refresh my memory so I looked at your prior posts and my comments. Nothing has changed now that I realize you are not continuing in business. Quoting from my prior post,

If you walk away (nothing wrong with that) then you will need to protect yourself from all of the personal guarantees. While the SBA may work with you, the MCA creditors probably won't. The loan documents you signed probably gave the creditor permission to sue you in NY, Fl or some other state. In some instances, you agreed to a "confession of judgment". And, while numerous state attorney generals are looking into the deceitful/fraudulent practices of this type of lending, you are the one on the hook. You will need a bankruptcy at some point.

Due to your non-exempt assets, you would NEVER contemplate a Chapter 7. You are headed to either a Chapter 13 or 11 (Subchapter V). . .

You mentioned a discussion with one attorney. You need to talk to several others - ones that do not operate a bankruptcy filing mill. The point being that you have too many variables for any of us to "guide" you. A well qualified attorney who can take the time to review all of the issues is the best way to go.

Trying to defend the MCA lawsuit, to me is a waste. You borrowed the money. What would be the defense other than maybe the usurious interest rate? I also note that in one of your posts you mentioned that the SBA (or the bank itself) sued you and has a judgment.

Just my observations. . .

Des.

[MasterOfNone]

Thanks for the replies, you were spot on on the previews post as well...

Ultimately just wanted to respond to the summons notice from the mca, to buy me time to not have a judgment right away... so far their are the only one that have sued me so far.

[MasterOfNone]

Which I did by the way, just asked for a motion to extension yesterday. Hopefully they accept it and can have more time to plan this whole mess

[MasterOfNone]

I decided to refresh my memory so I looked at your prior posts and my comments. Nothing has changed now that I realize you are not continuing in business. Quoting from my prior post,



Trying to defend the MCA lawsuit, to me is a waste. You borrowed the money. What would be the defense other than maybe the usurious interest rate? I also note that in one of your posts you mentioned that the SBA (or the bank itself) sued you and has a judgment.

Just my observations. . .

Des.

Hey would you be available for a quick chat? I tried to send you a DM but I wasn't allowed.

[justbroke]

MasterOfNone try again. I think that PMs are after 10 posts. I could be wrong.

[MasterOfNone]

Oh ok perfect... thank you!!