Colonna Cohen Law PLLC

• Colonna Cohen Law is a New York law firm founded by attorney Ashlee Colonna Cohen.
• The firm focuses on merchant cash advance defense, business debt disputes, and related litigation.
• The practice emphasizes individualized attention, clear explanations of complex legal issues, and strategic advocacy for clients.

Approach

• Guides clients through each step of a matter, from initial consultation through resolution.
• Aims to make clients feel comfortable, informed, and supported while navigating stressful legal and financial disputes.
• Provides tailored strategies rather than one-size-fits-all solutions.

Team

• Ashlee Colonna Cohen – Founder and attorney.
• Natasha Vulin – Director of Operations.

Reputation

• The website features testimonials from business and individual clients describing the firm as knowledgeable, communicative, and aggressive in defending their interests.
• Client feedback highlights responsiveness, clear communication, and the firm's commitment to resolving complex, high-stress cases.

Unsecured, Credit Card and Medical Debt

• Helps address unsecured debts such as personal loans and lines of credit.
• Negotiates and defends against high-interest credit card debt.
• Assists with medical debt, including challenging inflated charges and arranging payment plans where possible.

Creditor Harassment and Cease and Desist

• Protects consumers from abusive or harassing collection practices (e.g., excessive calls, threats, false statements).
• Prepares and sends cease and desist communications to stop unlawful contact when appropriate.

Consumer Credit Defense and Credit Reporting Issues

• Disputes inaccurate or unjust debt claims.
• Challenges incorrect or unlawful information on credit reports.
• Enforces rights under consumer protection statutes such as the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA).

Debt Lawsuits, Disputes and Invalidation

• Defends clients who have been sued over debts.
• Demands documentation from collectors and challenges debts that cannot be properly documented.
• Assists with formal disputes of debts that are inaccurate, outdated, or already paid.

Debt Investigation and Litigation Strategy

• Reviews debt records for errors, incomplete documentation, or potential fraud.
• Uses investigation findings to support dispute, defense, or negotiation strategies.

Debt Collection Violations and Third-Party Collectors

• Holds third-party debt collectors accountable for violations of state and federal law.
• Pursues remedies when collectors engage in unlawful tactics.

Regulatory Framework and Enforcement Tools

• Uses laws and regulations enforced by agencies such as the Consumer Financial Protection Bureau (CFPB).
• Evaluates potential claims under statutes including the Truth in Lending Act (TILA) and related consumer finance laws.

Note: This information is general and does not constitute legal advice. Specific situations should be evaluated with an attorney.

• Phone: (212) 256-1327
• Website: https://www.colonnacohenlaw.com
• Online Contact Form: Available on the website's Contact Us page for inquiries.

Office Location

• Address:
• 861 Manhattan Ave., Suite 20

Brooklyn, New York 11222

Consultation

• The firm offers free consultations for merchants and business owners facing issues related to Merchant Cash Advances, such as lawsuits, frozen accounts, UCC liens, or collection actions.

Service Focus

• Based in New York and focused on representing business owners in merchant cash advance disputes, business debt matters, and related litigation.

Important Note

• Information on the website, including this agent's responses, is for general informational purposes only and does not constitute legal advice.
• Contacting the firm, including through the website or this agent, does not by itself create an attorney–client relationship. An attorney–client relationship is only formed after the firm agrees to represent you and a formal agreement is in place.

Lists Landover, York, Brooklyn, Manhattan, and New York City as a location. Names California, Colorado, New York, Utah, and Virginia as a service area. Areas beyond these are not published.

• A Merchant Cash Advance is a form of financing where a business sells a portion of its future revenue or receivables (the Purchased Amount) to a funder at a discount, in exchange for immediate cash (the Purchase Price).
• The funder typically collects the Purchased Amount via daily or weekly ACH debits from the business's bank account.

How are MCAs different from loans?

• An MCA is structured as a purchase and sale of receivables or revenue, not as a traditional loan.
• Repayment is meant to be contingent on the merchant's revenue; the funder assumes the risk that the business may fail or stop generating receivables.
• MCA agreements generally must include:
• A reconciliation or adjustment provision allowing payments to be reduced when revenue declines.
• An indefinite term rather than a fixed, absolute repayment schedule.

Usury and legality in New York

• New York law treats interest over 16% annually as civilly usurious, and over 25% annually as criminally usurious.
• Because MCAs are structured as purchases rather than loans, lenders argue that traditional usury laws do not apply.
• An MCA agreement may be challenged as an illegal loan if, in substance, it functions like a loan (for example, if payments are fixed regardless of revenue or if reconciliation rights are not honored).

Key terms

• Purchased Amount – Total amount of receivables or revenue to be delivered to the funder.
• Purchase Price – Amount of cash advanced to the merchant by the funder.
• Factor Rate – Purchased Amount divided by Purchase Price; higher factor rates reflect higher perceived risk.
• Specified Percentage / Daily Percentage – The percentage of revenue the funder is entitled to receive; used to calculate daily or weekly payments.
• Daily/Weekly Payment (Remittance) – The actual amount ACH-debited from the merchant's account on a regular schedule.
• Origination Fee / ACH Fee – Fees deducted from the funding amount or charged in connection with ACH processing.
• Reconciliation / Adjustment – Contract terms requiring the funder to adjust or refund amounts when revenue is lower than expected.
• Stacking – When a business takes multiple MCAs, often leading to very high combined payments and default risk.

Default and enforcement

• Events of default in MCA agreements can include blocking ACH debits, repeated insufficient funds, closing or changing bank accounts without notice, or using undisclosed accounts.
• After default, a funder may:
• Enforce UCC liens against business assets and receivables.
• File lawsuits in state or federal court.
• Pursue judgments, levies, garnishments, or restraints on bank accounts.

Risks and potential scams

• MCAs can be very expensive, with short terms, large daily or weekly payments, and substantial fees.
• The FAQs describe reported abusive practices such as:
• Refusing to honor reconciliation or adjustment provisions.
• Debiting accounts multiple times in one day.
• Collecting more than the contractual Purchased Amount.
• Continuing to charge fees after the Purchased Amount is repaid.

Regulation and state laws

• New York, California, Utah, Virginia and other jurisdictions have enacted laws requiring disclosures and, in some cases, registration of MCA providers and brokers.
• Some laws restrict the use of confessions of judgment or require specific pre-funding disclosures.

When to seek legal help

• Business owners struggling with MCA payments, facing lawsuits, frozen accounts, or aggressive collection activity are encouraged to consult a qualified attorney.
• Colonna Cohen Law represents merchants in New York MCA disputes and has experience assisting small businesses affected by MCA practices.

Disclaimer: This summary does not replace the full FAQs and is not legal advice. Laws change and every situation is fact-specific.

Merchant Cash Advance (MCA) Defense

• Defends merchants and business owners against MCA funders and collection attorneys.
• Handles MCA disputes in New York state and federal courts.
• Challenges unfair or abusive MCA contract terms and practices.

Bank Restraints and Frozen Accounts

• Assists when business bank accounts or payment processors are frozen or restrained.
• Works to restore access to operating accounts and protect cash flow where possible.

UCC Liens and Enforcement

• Advises on Uniform Commercial Code (UCC) liens filed by MCA lenders.
• Defends businesses when lenders attempt to enforce UCC liens against business assets.

Levies, Judgments and Judgment Enforcement

• Represents merchants facing levies, garnishments, and sudden judgments arising from MCA or business debt.
• Defends against enforcement actions such as frozen accounts, seizures, and liens.

Litigation, Claims and Counterclaims

• Represents businesses sued over MCA and related business debt.
• Evaluates and pursues counterclaims where lenders or collectors have engaged in wrongful conduct.

Appeals

• Handles appeals of adverse court rulings in merchant cash advance and related business debt cases.

Negotiations, Settlements and Business Debt Relief

• Negotiates with MCA companies and other creditors to seek manageable resolutions.
• Pursues debt relief strategies for business owners struggling with MCA obligations and other business debt.

Arbitration / Alternative Dispute Resolution

• Represents merchants in arbitration and other alternative dispute resolution forums involving MCA and business debt disputes.

Ask anyway — the agent will say plainly that it is not published rather than guess.