How to Negotiate With Everest Business Funding and Settle Debt
You can negotiate a settlement with Everest Business Funding even after they sue you. File an Answer to the lawsuit first to protect your rights and avoid default judgment. Then calculate what you can afford and make a realistic settlement offer in writing.
Answer Your LawsuitYou have options if Everest Business Funding contacts you about debt. The company will likely work with you to settle for less than you owe. You can negotiate a resolution even if they’ve already sued you.
Here’s what you need to know about settling with Everest Business Funding.
Respond to Everest Business Funding's Lawsuit Today
Don't risk a default judgment that allows wage garnishment and account seizures. File your Answer to Everest's lawsuit now and protect your rights while you negotiate a settlement.
Answer the SummonsWhat Is Everest Business Funding?
Everest Business Funding is an online lender based in Doral, Florida. The company provides loans and merchant cash advances to small businesses. They typically target businesses that need working capital quickly.
Contact information for Everest Business Funding:
- Phone: 800-619-2943
- Address: 102 W 38th Street, 6th Floor, New York, NY 10018
- Website: https://everestbusinessfunding.com/
You must respond immediately if you receive lawsuit paperwork from Everest. A default judgment gives them power to garnish wages and seize accounts.
Understanding Merchant Cash Advances
Merchant cash advances work differently than traditional loans. A company gives your business money upfront. In exchange, they take a percentage of your future credit card sales.
The lender collects from each transaction until you repay the advance plus fees. These short-term financing products carry extremely high APR rates. Many new businesses struggle under the repayment terms.
Businesses use cash advances for equipment, employees, renovations, and other expenses. Problems arise when income stops flowing or you can’t maintain repayments. Everest Business Funding may file a lawsuit when they don’t receive their money.
What Other Customers Say About Everest Business Funding
Online reviews of Everest Business Funding show mixed experiences. You can find reviews on Google, Better Business Bureau, and Yelp. Some customers report positive outcomes when they communicate proactively.
One customer named Max shared his experience after two years:
“Working with them for over two years. The customer service and prompt response keep me working with them. What they offer is what you get, no secrets or hidden fees. I will continue doing business with them.”
Max’s review shows that communication can lead to resolution. Ignoring debt collectors makes your situation worse. Engaging with them opens the door to settlement.
Calling a debt collector feels intimidating for many people. Our partner Solo helps you negotiate settlements online without phone calls.
How to Negotiate a Settlement With Everest Business Funding
You can still negotiate even after receiving a lawsuit Summons and Complaint. Respond to the lawsuit first to protect your rights. Then you’ll have time for productive settlement talks.
Follow these steps to settle your Everest Business Funding debt:
- File an Answer to the debt collection lawsuit immediately
- Calculate your settlement budget: monthly income minus monthly costs plus savings
- Offer less than your maximum affordable amount to start
- Expect multiple rounds of back-and-forth negotiation
- Get all settlement terms documented in writing
Your settlement offer should be realistic but leave room for negotiation. Start lower than you can actually pay. The collector will likely counter with a higher amount.
Never agree to terms you can’t afford. A broken settlement agreement puts you back at square one.
Why You Must Respond to a Debt Lawsuit
Creditors often sue after you default for more than 180 days. Everest Business Funding may pass your debt to a collection agency first. The agency will attempt contact before filing a lawsuit.
Debt lawsuits start when you receive a court Summons and Complaint. You have a limited time to respond. Missing this deadline triggers a default judgment against you.
A default judgment gives Everest Business Funding powerful collection rights. They can garnish your wages directly from your paycheck. They can freeze and seize your bank accounts. They can place liens on property you own.
Draft and file a written Answer as soon as possible. Our partner Solo helps you respond to lawsuits in all 50 states.
How to Draft and File Your Answer
You become the defendant when Everest Business Funding sues you. They are the plaintiff in the case. Phone calls and letters no longer work once a lawsuit is filed.
You must file a legal document called an Answer. Your Answer responds to each claim in the Complaint.
Follow these guidelines when filing your Answer:
- Never admit you owe the debt
- Make the creditor prove the debt belongs to you
- Force them to prove the amount they claim
- File the official Answer with the Clerk of Court
- Request a stamped copy from the Clerk
- Mail the stamped copy to plaintiff’s attorney via certified mail
Your Summons states the deadline to respond. Different states allow between 14 and 35 days. Missing this deadline equals not responding at all.
Five Ways to Defend Against a Debt Collection Lawsuit
Challenge Their Right to Sue You
Debt collectors must prove they own your debt. Many cannot provide proper documentation of ownership. Ask them to show the chain of custody from the original creditor.
The lawsuit gets dismissed if they can’t prove ownership. Many collection agencies purchase debt in bulk. They receive minimal documentation about each account.
Demand Written Documentation
Request all documents in writing before your court date. You can also demand documentation at the hearing itself. The collector must provide specific items.
Required documentation includes:
- The original credit agreement with your signature
- Complete chain of custody paperwork
- Proof of debt ownership transfers
- Documentation showing you owe the debt
Collectors often struggle to produce these documents. Missing paperwork weakens their case significantly.
Challenge the Burden of Proof
The collector carries the burden of proof in court. They must prove multiple elements of their case. You can force them to prove each element.
The collector must prove:
- You are responsible for the debt
- They have the legal right to sue
- You owe the specific amount claimed
- How the balance increased over time
- Every fee and charge is legitimate
Many collectors cannot prove these elements. They may drop the case rather than meet this burden.
File a Countersuit for FDCPA Violations
The Fair Debt Collection Practices Act protects you from harassment. Debt collectors cannot threaten you with violence. They cannot use abusive language or deceptive tactics.
You can file a countersuit if they violate the FDCPA. Common violations include:
- Attempting to collect debt you don’t owe
- Using illegal communication tactics
- Failing to verify the debt
- Threatening illegal actions
- Making false statements
- Contacting you at work after being told to stop
- Calling excessively or outside allowed hours
- Calling before 8 am or after 9 pm
Document every violation with dates and details. These violations can result in damages awarded to you.
Raise the Statute of Limitations Defense
The statute of limitations limits how long creditors can sue. Each state sets its own time limit. Most states allow between four and six years.
Debt becomes time-barred after the statute expires. You still owe the money technically. But creditors cannot legally sue you in court.
The clock starts on your last account activity date. Making a payment restarts the entire statute of limitations. Even acknowledging the debt in writing can restart the clock.
Avoid making payments on old debt before checking the statute. The statute of limitations is your strongest defense against old debt lawsuits.