Has anyone dealt with something like this? I'm not sure what my options are.
Square terminated my account. I've been dealing with this for about 14 months now and the situation isn't improving.
What's the typical outcome in situations like this?
I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.
Been there. Here's what I learned.
What worked for me was having everything documented. It took 3-6 months but was worth it.
I ended up hiring an attorney to send the initial letter, which cost about $2-4 but saved me a lot more in the long run.
For anyone overwhelmed by the legal process: break it into steps. (1) Gather all documents, (2) Write a timeline of events, (3) Research applicable laws, (4) Send a demand letter, (5) If no response, escalate to regulatory complaint or court. You don't have to do everything at once.
The key with frozen funds is to provide exactly what they ask for and nothing more. Over-explaining or providing unsolicited documents can actually delay the review process.