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How to Negotiate With Everest Business Funding and Settle Debt

George Simons | January 28, 2025

Fact-checked by Patrick Austin, J.D.

Patrick Austin
Attorney from George Mason
Patrick Austin, JD

Patrick Austin is a licensed attorney with a background in data privacy and information security law. Patrick received his law degree at George Mason University's Antonin Scalia Law School, where he served as the Editor-in-Chief for the National Security Law Journal.

George Simons
Co-Founder of SoloSuit
George Simons, JD/MBA

George Simons is the co-founder and CEO of SoloSuit. He has helped Americans protect over $1 billion from predatory debt lawsuits. George graduated from BYU Law school in 2020 with a JD-MBA. In his spare time, George likes to cook, because he likes to eat.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: To amicably resolve debt with Everest Business Funding, you should explain your reason for falling behind on payments and negotiate a settlement. If you’ve been sued, be sure to file a written Answer so you don’t risk a default judgment while you negotiate. Use Solo to streamline the process.

If you’ve been contacted by Evert Business Funding, you still have options to effectively address the debt, including strategies to negotiate a debt settlement. In fact, Everest Business Funding will likely work with you to amicably resolve the debt and settle for less than you originally owed.

Here’s everything you need to know about Everest Business Funding and how to settle your debt.

Settle debt with Everest Business Funding

You can negotiate debt settlement at any stage of the collections process. SoloSettle makes it easy.

Settle with SoloSettle

What is Everest Business Funding?

Based in Doral, Florida, Everest Business Funding is an online provider of loans and merchant cash advances. Typically they provide these loans, including merchant cash advances programs, to small businesses in need of working capital.

Here’s the Everest Business Funding phone number and other contact information:

If you default on a loan with Everest Business Funding, you may receive information in the mail regarding a lawsuit. It is essential to respond to this lawsuit as soon as possible. Here's everything you need to know about Everest Business Funding and how to beat them in court.

What is a merchant cash advance?

Merchant cash advances are a specific amount of money that is given to a business, in exchange for a percentage of their future credit card sales or receivables. Unfortunately, this can lead to trouble for the receiver.

When a provider such as Everest Business Funding gives a merchant cash advance, they will take a portion of each transaction thereafter until the advance plus a fee is paid off. These types of short-term loans have incredibly high APR rates, which can end up running new businesses into the ground.

Cash advances are often used to finance more expensive products, as compared to small business loans. The cash advance can be used to pay for equipment, hire employees, make renovations, or any other business expense. The problem lies if you cannot pay back the advance, or there ends up being a stop in the flow of income from your business. When Everest Business Funding doesn't get its money back at interest, you might find yourself in the middle of a debt lawsuit.

Read Everest Business Funding reviews online

Looking for intel on what other people have shared regarding their interactions with Everest Business Funding on debt collection issues? If so, take a moment to check out these online reviews:

Objectively speaking, the online reviews of Everest Business Funding are a mixed bag. Nevertheless, there are some online reviews indicating that it’s possible to proactively engage with Everest and have a positive experience that culminates in a resolution to your debt matter. Let’s consider a real example from an individual named Max:

“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 supports the position that actually communicating with the debt collector and not ignoring their outreach can go a long way in achieving a resolution to the debt collection matter.

Nevertheless, if the idea of calling a debt collector to try and negotiate a debt settlement sounds awful, then consider utilizing SoloSettle to negotiate online and resolve your debt through our innovative digital settlement platform.

Negotiate with Everest Business Funding to settle your debt

If you received a Summons and Complaint from Everest Business Funding, you still have the option to try and negotiate a debt settlement. It is important to proactively respond to the lawsuit so you have sufficient time to engage in productive settlement negotiations. Here are some recommended steps to try and settle your debt:

  1. File an Answer to Everest Business Funding’s debt collection lawsuit.
  2. Calculate how much you can actually afford to pay with the following formula: Amount available to settle = (monthly income – monthly costs) + savings)
  3. Make a reasonable settlement offer that is less than the maximum amount you are able to pay.
  4. Be ready to engage in multiple rounds of negotiating.
  5. When you reach a debt settlement agreement, get the terms in writing.

Settle with SoloSettle

Make an Offer

To learn more about these tips and others that may assist you on your journey to settle debt with Everest Business Funding, watch the following interview with a consumer rights attorney, John Skiba, where he shares the best tips for negotiating debt settlement with collectors:

Responding to a debt lawsuit

When you default on payments with Everest Business Funding, or any other type of debt, you may find that the creditor eventually seeks payment. If you have defaulted for over 180 days, they might pass the matter on to a credit agency. From there, the agency will contact you about the debt or file a lawsuit if they cannot reach you. Debt lawsuits begin with a court Summons and Complaint coming in the mail. After you receive this, it is important to answer quickly.

If you do not respond to the lawsuit, then the court may enter a default judgment against you. This could give Everest Business Funding the right to garnish your wages, seize your bank accounts, and place a lien on your property. For this reason, you should draft and file a written Answer as soon as possible.

How to draft and file an Answer

When you are sued by Everest Business Funding, you are the defendant and they are the plaintiff. When the lawsuit is filed and put before a court, you will no longer be able to respond by phone or with a letter. Your only choice is to file a legal response called an Answer.

Things to keep in mind when filing an Answer to a debt collection lawsuit:

  • Never admit debt liability
  • Always make the creditor prove the debt is yours
  • Force the creditor to prove your responsibility for the debt
  • File the official Answer with the Clerk of Court
  • Ask for a stamped copy of the Answer from the Clerk of Court
  • Send the stamped copy certified mail to the lawyer of the plaintiff

You will also notice a specific period of time on the lawsuit notice. This can be anywhere from 14-35 days after you receive the Summons, depending on which state the case is in. Missing the deadline is the same as not responding, which can lead to a default judgment. To learn more about drafting and filing an Answer, check out this video:

SoloSuit can help you file an Answer in all 50 states.

Ways to respond to a debt collection lawsuit

Challenge the Debt Collector's Right to Sue

One of the best ways to respond to a debt collectors lawsuit is to challenge their right to legally sue you. If they do not have the information to prove that they own your debt, they will not be able to continue with the lawsuit.

Ask For Documentation

Ensure you ask for all documentation in writing. You can also show up to the court hearing and ask for documentation. When asked, the debt collector or original creditor must provide:

  • The original credit agreement with proof of being signed by you
  • Documentation of the “chain of custody.” This includes all paperwork that has ever resulted from the debt including origination, who it came from, and that you owe it.

Push Back on Burden of Proof

The burden of proof is what creditors are debt collectors take on the responsibility of. When you are being sued for a debt lawsuit you can push back on the burden of proof and ask for them to prove the following:

  • Proof you are responsible for the debt
  • Proof the person suing you has the right to
  • That you owe a specific amount

Pushing back on this burden of proof is important because they will be required to prove the amount you owe, and how you owe it. It can include when the balance increased at different points in time, and whether it was increased by fees. This can lead to them not being able to do so, and being forced to drop the case.

Filing a Countersuit

Although you will need to deal with the debt, you cannot legally be harassed or be threatened with violence under the Fair Debt Collection Practices Act (FDCPA). If any of these violations occur, you may be able to file a countersuit.

Violations of the FDCPA include:

  1. Continued attempts to collect debt not owed
  2. Illegal or unethical communication tactics
  3. Failure to verify debt
  4. Taking or threatening an illegal action
  5. False statements or false representation
  6. Improper contact or sharing of info
  7. Excessive phone calls
  8. Calls before 8 am or after 9 pm

Check the Statute of Limitations

One of the best defenses to a debt collection lawsuit is the statute of limitations. The statute of limitations is a law that governs how long creditors are legally allowed to file a lawsuit for debt in court. The statute of limitations is different in every state, but it generally ranges between four to six years. When the statute time period ends, the debt is considered time-barred. It is good to note that you will still owe the debt, but you can not be legally taken to court.

It is important to also be aware that the statute of limitations will start on the last day you were active on the account. This means that if you used a credit card or drew funds from an account, or paid off the account, it will restart the clock on the statute of limitations. When debt collection starts, you will need to avoid paying on the debt to avoid starting the statute of limitations over once again. If the statute is expired, this is your best defense to a debt collection lawsuit.

How to Answer a Summons for debt collection in all 50 states

Here's a list of guides on how to respond to a debt collection lawsuit in each state:

The Ultimate 50 State Guide

Debt collector guides

Are you being contacted by a debt collector? We’re making guides on how to resolve debt with each one.

Arbitration

If the thought of going to court stresses you out, you’re not alone. Many Americans who are sued for credit card debt utilize a Motion to Compel Arbitration to push their case out of court and into arbitration.

Below are some resources on how to use an arbitration clause to your advantage and win a debt lawsuit.

Bankruptcy

Bankruptcy is a great way to legally resolve debt, but it's usually best to consider it as a last resort. Here are some bankruptcy guides to help you decide which debt resolution option is best for you.

Check your case status

Don’t have time to go to your local courthouse to check the status of your case? We’ve created state guides on how to check the status of your case throughout the US, complete with online search tools and court directories.

Credit

Debt has a big impact on your credit. Below is a list of guides on how to repair and improve your credit, even while managing major debt, along with other credit-related resources.

Debt collection FAQs

Find answers to some of our the most commonly-asked questions about debt collection below.

Debt collection documents and templates

If you're dealing with debt, these documents and templates will help you respond, protect your rights, negotiate, and resolve your debts.

Debt relief

We’ve created a specialized guide on how to find debt relief in all 50 states, complete with steps to take to find relief, state-specific resources, and more.

Debt settlement

Debt settlement is one of the most effective ways to resolve a debt and save money. We’ve created state guides on debt settlement. Find out how to settle in your state with a simple click and explore other debt settlement resources below.

Eviction

Facing an eviction? The following guides will help you navigate your situation with confidence.

Federal debt collection laws

Knowing your rights makes it easier to stand up for your rights. Below, we’ve compiled all our articles on federal debt collection laws that protect you from unfair practices.

Legal aid

Helping people find access to justice is at the heart of Solo's misison. If you're dealing with a legal debt issue, the following guides will help you through it.

Medical debt

Having a health challenge is stressful, but dealing with medical debt on top of it is overwhelming. Here are some resources on how to manage medical debt.

Personal finance

Learn how to manage your finances and overcome crushing debt. Check out our personal finance guides below.

State debt collection laws

Debt collection laws vary by state, so we have compiled a guide to each state’s debt collection laws to make it easier for you to stand up for your rights—no matter where you live.

Statute of limitations on debt

Like all debt collection laws, the statute of limitations on debt varies by state. So, we wrote guides on each state’s statutes and more.

Stop collection calls

Do you keep getting calls from an unknown number, only to realize that it’s a debt collector on the other line? If you’ve been called by any of the following numbers, chances are you have collectors coming after you, and we’ll tell you how to stop them.

Wage garnishment

Forgot to respond to your debt lawsuit? The judge may have ordered a default judgment against you, and with a default judgment, debt collectors can garnish your wages. Here are our guides on how to stop wage garnishment in your state, plus other wage garnishment resources.

The Debt Hotline

Hosted by Team Solo, The Debt Hotline breaks down debt and personal finance topics with help from attorneys, financial experts, and industry pros. We respond to real questions to help you navigate debt with knowledge and courage.

Other debt resources


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