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Predatory lenders don’t want businesses to know it. In fact, most lawyers aren’t familiar with this law, because it has absolutely nothing to do with the bankruptcy code. The law that removes unsupportable debt from a business is part of the “Uniform Commercial Code” or UCC. The UCC is the set of laws which govern…
Second Wind President Aaron Todrin comments in Bloomberg/Washington Post story on Merchant Cash Advance companies’ use of COJs. Last year, an array of New York officials, from county clerks to Governor Andrew Cuomo, promised to stop a group of predatory lenders that have been using the state court system to bludgeon small businesses nationwide. So far, little…
Bloomberg News reporter Eliza Ronalds-Hannon interviews Second Wind Consultants President, Aaron Todrin. This interview deep dives into the scope, practices and need for regulation in the MCA (Merchant Cash Advance) industry.
Determining how much a borrower can settle for under the SBA Offer in Compromise program depends on multiple financial and behavioral factors. While most business owners want to repay their debts in full, financial distress and business closure can make that impossible. The SBA’s Offer in Compromise program provides a structured path to settle those…
“I worked with Adam Gleason. He had a very grounding effect on me. Adam has excellent communication skills and is very professional. I felt I was in very, very good hands with him.” Chiropractor California Married Debt Load: $221,000 Debt to Be Forgiven: $211,000 Creditor: CIT Bank Interviewer – How did you get in financial trouble originally? …
Jared Nugent, one of our Lead Consultants, tells David’s story. David was initially skeptical when he hired Second Wind. Now he credits the decision for getting not only his business—but also his life—back on track. After a holiday season that didn’t meet sales projections, David was left with a mountain of inventory that he couldn’t…
“I had two choices: the livelihood of 20 employees, the legacy of my father—was I going to have to be done with it? Or was somebody going to help me?” Nita found Second Wind in September 2017 when she was at the end of her rope dealing with an MCA that was killing her company….
“If I had it to do over again, I would’ve hired Second Wind Consultants four years before I actually did.” –Scott L., CEO, Electric Components Manufacturer After the last economic downturn, Scott L.’s company revenues took a 50% hit. At first, he was optimistic that things could be turned around, but as his own customers…
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