When to Pursue a Merchant Cash Advance Lawsuit
What happens when the guarantor is unwilling to pay?
Both the lender and the collector are invested in resolving the debt, and sending files that score high for suit eligibility out for litigation is becoming an increasingly popular way to find a resolution. Urgency plays a role in every merchant cash advance lawsuit, as our clients recognize that the first lender to take the legal route in this stacked industry is the most likely to get paid.
The first person to obtain judgment can initiate bank levies, writs of attachment on assets, place liens on property, and other measures that put this first party in a priority position to get paid. However, a broad-sweep approach to litigation is not the most fiscally responsible course of action. There is an art to balancing urgency with discernment for a quick, effective response to unwilling-to-pay guarantors.
Urgency is important, but incisiveness is key
We never operate on an ‘enforce everything’ standpoint. Instead, we use a proprietary scoring model to determine which accounts actually make sense to pursue legal action, and which accounts equate to throwing lender money and collection agency time into a black hole.
A more complete version of the "Merchant Cash Advance Lawsuit" article can be found Dedicated Commercial Recovery Inc website.