A Debt Collector is Chasing Me for a Business Cash Advance Loan From Broadway Advance Funding

Question:

Dear Steve,

I DID HAVE A CASH ADVANCE FOR MY BUSINESS IN 2019, AND I WAS PAYING $350.00 DAILY,

BUT I WAS STRUGGLING AND COULD NOT PAY ANYMORE, SO THEY HIRED AN ATTORNEY AND FROZE MY ACCOUNTS WE DID SOME ARRANGEMENTS, THEN THE PANDEMIC COME, AND I LOST COMMUNICATION WITH THEM.

NOW A DIFFERENT DEBT COLLECTOR NAMED EMPIRE RECOVERY IS CLAIMED SUCH DEBT THEY SHOW ME A PROOF OF THE DEBT BUT I HAVE NEVER SIGN ANY CONTRACT OR AGREEMENT WITH THEM. THIS IS IN NJ STATE.

CAN YOU HELP ME OR GIVE ME ADVICE ABOUT WHAT TO DO OR TELL ME HOW I CAN FIND OUT IF THEY ALREADY SUING ME? I WILL APPRECIATE ALL YOUR HELP

Guillermo

Answer:

Dear Guillermo,

Thank you for sending me your cash advance agreement with Broadway Advance Funding. It appears you signed the agreement in 2019, as you said, and the payments were to be $350 a month.

If you are trying to reach Broadway Advance Funding directly it appears their telephone number is 212-804-8083.

The agreement says it is for revenue-based factoring. However, I have a friend who deals with these issues directly, and I’ll reach out to him for advice.

It is understandable that the business income changed during the pandemic and you were not able to meet the minimum daily payments.

These situations can often be renegotiated, or a suitable payment arrangement can be reached. I know not having a solution here weighs on you, so let’s get a solution sooner rather than later.

Now is not the time to panic; let’s take a closer look at real solutions and help you move forward with less stress.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


Damon Day - Pro Debt Coach

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