I Can’t Afford My MCA Business Loan and Not Sure if I Can Settle With Lendr LLC


Dear Steve,

I get fund 8k from mca…after that my business slows down and I can not afford to pay back. I need some help to protect my business

I need someone help me set up a settlement with the Lendr LLC I own 10k …now they send to a recovery company. How much you cost to help me successfully settlement with them either amount I can afford.



Dear Thao,

Thank you for sending along correspondence you received from a lawyer. I am not an attorney and can’t give you legal advice. You would need to see an attorney licensed in your state for that.

I was struck by the letter you received. On face value, it appears to be an offer to settle the amount you owe.

The offer was labeled FORBEARANCE AGREEMENT and not a settlement offer. In fact, the letter demands payment from you and then says once you make those two payments they will then talk to you about “further payment options.”

There are many people and companies out there, including an attorney, who could represent you with the creditor. A settlement is nothing more than a negotiated repayment arrangement which may include a one-time payment or installments. It’s just a meeting-of-the-minds between you and your creditor.

The advantage of using a third party is they are not emotionally involved in this issue and have experience in dealing with similar situations. I would suggest that an individual debt coach or attorney is a better fit for you in this case than some large process-driven settlement company.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

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5 thoughts on “I Can’t Afford My MCA Business Loan and Not Sure if I Can Settle With Lendr LLC”

  1. Dear Steve and Thao:

    This letter is a collection tactic to get Thao to send money.

    The letter is basically saying if he pays $1,000, that:

    1) They will lift a UCC lien [which they can slap back on at any time]

    And if he pays another $200 that:

    2) This is a “temporary settlement” [ which really means nothing]
    3) There will be a “forbearance” on legal action, [which simply means they will refrain from legal
    action for now].

    So, they are asking Thao to pay 1200 dollars and offering almost nothing in return.

    Here are the important underlying questions to ask:

    • What is a temporary settlement?
    • If Thao pays, exactly what will he owe later and on what are the terms?
    • Will the $1200 dollars just pay down the debt from 11,551.72?
    • And, how did it get to 11,551.72 [1500 dollars more] in the first place? Fines? Collection
    • What does “My client will entertain further payment options” mean? [ this seems pretty non-
    committal to me]
    • [Under what conditions] will they slap the UCC back on? [ They absolutely can slap it back
    on ]
    • Is the UCC actually affecting Thao in a negative way?
    • And, on top of all that, if Thao pays the $1200, he is agreeing to a possible litigation venue
    change to Harris County, Texas. [And I doubt that is in his best interest!]

    A real settlement is in writing and, as Steve wrote, it is most often a negotiation to pay a fixed amount either right away or over time. The letter also gives no consideration to Thao’s legitimate ability or inability to pay the debt and stay in business.

    We negotiate business debts and MCA’s all the time and the website http://www.dontdeclare.com is dedicated to providing free comprehensive information on the subject, including templates and sample letters to creditors to explain your situation. See our guide: How to pay business debts you can’t afford.

    When negotiating, it is always important to keep in mind that the creditor did lend/advance real money and that they are looking for and deserve a return on their investment based on current circumstances.

    Speaking of returns, we can also glean some information about the “Loan/Advance” itself.

    • Thao says he borrowed 8,000 and that he owes 10,000.
    • Now, he didn’t give dates, but advances are typically short term, from 3 to 12 months.
    • So if the pay back was 1 year, that’s like an equivalent interest rate of 23%. [ borrow 8 pay
    back 10]
    • But, if the payback is 6 months, that’s like a yearly interest rate of 46%
    • and if it’s 4 months or 3 months, the rate is much much higher.

    Advances are expensive money and maybe that is adding to Thao’s problems paying.

    Big disclaimer: We are not lawyers and do not offer legal advice – We simply share what we have learned in years of negotiating business debts and we do that at Dontdeclare.com

    Best, Charles

    • Thanks alot for your help..dontdeclare.com is the one can help me?i understand i can do it myself but i want to hire someone represent me to deal with him …so i dont stress no more🤦‍♀️
      Will he can find out if i change new credit carr machine and new bank account?im worry he will freeze my new acc again.

    • Thanks for your help.i already close credit machine and bank account.can they find out and freeze new bank again?i need someone help me send professional doc to settlement with them.because if in written they will know i dont have anyone back up so they just push me to dead.any recomend for me in this issue.thanks alot


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