In a newly filed amended complaint, the Federal Trade Commission alleges that merchant cash advance provider RCG Advances and other defendants made multiple unauthorized withdrawals from small businesses’ banks, sometimes taking thousands of dollars more than the agreed repayment amount. The amended complaint also alleges that RCG, formerly known as Richmond Capital Group, LLC and …
Yellowstone Capital is one of the companies I’ve written about regarding Merchant Cash Advance loans. Well, things are wrapping up in the FTC action against the company. The Federal Trade Commission has just announced, Yellowstone Capital, a provider of merchant cash advances, will pay more than $9.8 million to settle Federal Trade Commission charges that …
Trying to run a small business and dealing with the stress of keeping the business alive when things are not looking like they are going to workout is a nightmare. I lived through that many decades ago and it was not fun at all. There are few things much worse than facing calls and contacts …
Yellowstone Capital has appeared on this site before for going after business debt settlement companies. See this post. It appears Yellowstone Capital, a Merchant Cash Advance (MCA) company has garnered a lot of attention from the State of New Jersey. The State has filed a lawsuit against Yellowstone Capital LLC, its parent company Fundry.US LLC, …
A Florida attorney and former outside counsel for 1 Global Capital LLC (1 Global), has been charged today with conspiring to commit wire fraud and securities fraud in connection with an investment fraud scheme that as alleged impacted more than 3,600 investors in 42 different states, and involved him personally and fraudulently raising more than …
Back in the good old days of 2018, merchant cash advance companies started suing debt settlement companies that attempted to negotiate to resolve business debts. In fact, some business debt negotiation companies wound up settling the lawsuits. See this article. One of the merchant cash advance companies that were going after settlement companies was Yellowstone …
A year or so ago Veritas Legal Plan, Angelo Anzalone, Decision One Debt Relief and others were sued by Funding Metrics, a merchant cash advance company. Well not only does it look like the suit is over but Funding Metrics can’t file that case again. It’s done. As usual, the only people that really probably …
Question: Dear Steve, We were trying to build our new business in real estate, while I hired more employees to work for the taxidermy company I’ve had for 20 years. We got into our slow season and I thought it wouldn’t hurt to take out a loan to keep us afloat well one thing led …
Funding Metrics has sent out a press release announcing they sued a host of people over a business debt settlement service. This is not the first suit I’ve seen by merchant cash advance groups against debt settlement companies who are allegedly representing business debt consumers. In the interest of a disclaimer, I have known Angelo …
Question: Dear Charles, I own a trucking company for last 4 years and was doing ok until I got Merchant Cash Advances. I was paying them off on regular basis but my business suffered in the last couple of months that has put me in a situation where I can’t pay these MCAs anymore. My …