Shady settlement companies often resort to tortious interference as a major tactic when targeting MCA companies. They reach out to potential clients who are fulfilling their obligations with their MCA or alternative loan provider, persuading them to intentionally stop making payments on their agreements, leading to default. The goal is to pressure the lender into offering more favorable terms to the client. However, disrupting a cash advance is not a recommended approach and only worsens the client's financial situation.
In a recent case, Fora Financial, an alternative lender based in New York, filed a lawsuit against Corporate Turnaround for allegedly meddling with clients in good standing and employing other strategies such as refusing to engage in negotiations with their company.
By Thomas Tramaglini, Chief Operations Officer
Partner, The Center for MCA Research
Case Overview
Corporate Turnaround, the defendant, is facing allegations of deception, conversion, theft, fraud, and tortious interference in New York, causing harm to Fora, its competitors, customers, and the consumer and commercial markets at large.
Summary
Settlement firms promise business owners savings exceeding 50% in total payback through unethical and unproductive advice and strategies.
If a settlement company advises you to default or stop payments, it is unsound guidance. Companies like Fora Finance have procedures for debt reconciliation.
BCS collaborates with companies in default and, when necessary, our attorneys engage with creditors such as Fora to ensure the ethical provision of services.
Companies like Corporate Turnaround have a history of being sued for tortious interference, which is a practice that we certainly do not support.
Dr. Thomas Tramaglini is the Director of Operations and Negotiation for Beacon Client Solutions, a company that supports small businesses on a host of fronts, especially MCA debt. Thomas has been a small business owner for many years, as well as held leadership positions in several organizations and companies. Thomas holds a B.A. in History, as well as Masters and Doctorates in Organizational Leadership from Rutgers University, The State University of New Jersey.
Disclaimer: Beacon Client Solutions is not an accountancy, or a law firm. We are business consultants. While Beacon works with outstanding attorneys and accountants, we cannot and do not provide legal or tax advice. All of our work is connected to those who are legally certified to give such advice. Beacon does have a longstanding body of work in MCA resolution and understands what small business owners deal with, specific to MCA. Beacon Client Solutions serves clients in all 50 states, Puerto Rico, Mexico, and Canada.
Comentarios