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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2637
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I have the same issue that I am reading about this corporate

Customer Question

I have the same issue that I am reading about this corporate restructure place
JA: Because laws vary from state to state, could you tell me what state is this in?
Customer: Im wondering how it can hurt me or my business if I was to go with them. For some time now I have thought that the cash advances that I take are extremely high interest and would qualify as usury rates. I am in NY. Basically they want to serve them with a letter saying the rates they are charging are usury rates and extend the advance out for 5 years with monthy payments
JA: Have you talked to a lawyer yet?
Customer: I have not. It makes complete sense to me though and I know these advance companies have a hard time collecting money from people becuase they kill cash flow. Unfortuantyl I am the 1% who has been using them for years and never missed a payment ever. However, we borrow for example 150k and pay back 210k in 9 months. If we run an am schedule on that it definitly is over 16% which is the usury rate in NY
JA: Anything else you think the lawyer should know?
Customer: What do you mean by that? What lawyer are you referring to?
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Bankruptcy Lawyer about your situation and then connect you two.
Submitted: 8 months ago.
Category: Bankruptcy Law
Expert:  Law Educator, Esq. replied 8 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
You actually have a loan with the company? Is it a personal loan or is it commercial loan for your business?
Also, what are you actually seeking to accomplish and what are your specific questions for us?
Customer: replied 8 months ago.
Can I call instead. To much to type
Customer: replied 8 months ago.
I just got done typing for the last 10 min and then something popped up saying your online and deleted it all
Customer: replied 8 months ago.
Id like to cancel this. I have to go
Customer: replied 8 months ago.
Are you still there?
Expert:  Law Educator, Esq. replied 8 months ago.

I am sorry for the technical issues

Customer: replied 8 months ago.
Are you able to see my question?
Expert:  Law Educator, Esq. replied 8 months ago.

We are real people and we are working with multiple customers at one time, all of whom deserve the same time you deserve. So sometimes our responses take time.

I only see your initial post, not the responses to my request for additional information.

Customer: replied 8 months ago.
Im all set. We can end this conversation. Thank you for your time.
Expert:  Law Educator, Esq. replied 8 months ago.

Thank you best wishes.

You can contact customer service for a refund at***@******.***

I am sorry for the technical issues you experienced with the site.