What should you expect in the first30 days of MCA debt relief?
Expect the first 30 days to be mostly setup: a free consultation, handing over your agreements and bank statements, a position review, your decision on the program documents, and, if you enroll, your first payment into the program account. Funders move on their own clocks, so no firm can tell you what any funder will have agreed to by day 30. Results vary.
Key points
- The first month covers the consultation, the program documents, and the first payment.
- Funders keep their contractual rights until a new written agreement exists.
- No firm can honestly promise a result or a timeline in the first 30 days.
What happens before you enroll?
The first conversation is a free consultation of about 30 minutes. You describe your positions, what each balance is, whether each one drafts daily or weekly, and anything that has already arrived by mail or hit the bank account. Nothing is required to start.
The position review follows, once your agreements and statements arrive. Have ready every merchant cash advance agreement including renewals, your last four months of business bank statements, and any letters from funders or collectors. The review maps every advance, draft, lien, and reconciliation clause against what the business actually deposits. It is free and commits you to nothing.
Then comes your decision, on your schedule. There is no deadline on our side.
What happens if you enroll?
- You review and e-sign the program documents. One set of documents contains every term and every fee. There is no separate fee agreement.
- A dedicated program account is set up for you. It is managed by an independent payment processor. Anchor Resolve never holds or handles your funds.
- Your first payment goes in on the date your program agreement sets. After that you make one weekly payment on the schedule it sets.
- The servicing partner’s negotiation team begins working your positions. It takes them one at a time, with each funder getting its own file: the hardship documentation, the proposals, and the paperwork.
- You sign each new agreement yourself. When a funder agrees to new terms, you review and sign that agreement with that funder, and nothing changes on that position until you do.
Your point of contact throughout is Anchor Resolve. The week-by-week client experience is laid out in what happens after you enroll.
What should you not expect by day 30?
Each funder responds on its own clock, and nothing requires a funder to negotiate. How long this takes depends on how many positions you hold, what your documents say, and how each funder responds. Our guide to how long MCA debt relief takes explains what makes it faster or slower.
Until a written agreement is reached, funders keep the rights their contracts give them: drafts, letters, UCC notices to your customers, and in some cases a lawsuit. In many cases contact quiets down as talks progress, but nothing requires a funder to pause.
No percentage and no amount is promised, by us or by any honest firm. Results vary. No outcome is guaranteed.
What should you keep an eye on in the first month?
- Every letter, notice, and court paper.
Send each one to your point of contact as soon as it arrives. If you are served with a lawsuit, talk to a licensed attorney in your state right away: a lawsuit runs on court deadlines that do not move for negotiations, and Anchor Resolve is not a law firm.
- Any change to your accounts or your advances.
Tell your point of contact before you take a new advance or change bank accounts. Under many agreements both can be defined as a default, and a new position can put the plan back where it started.
- Your deposits.
If revenue rises or falls, say so. A schedule sized to deposits has to be re-sized when deposits move.
- Who is asking you for money.
No one should ask you for money before you have read and signed your program agreement. If anyone does, stop and call us.
Common questions
Will my funders stop calling within 30 days of enrolling?
Not necessarily. Funders keep the rights their contracts give them until a written agreement is reached, including calls, letters, and in some cases a lawsuit. In many cases contact quiets down as talks progress, but nothing requires a funder to pause. Results vary.
What do I need to gather before the position review?
Every merchant cash advance agreement including renewals, your last four months of business bank statements, and any letters from funders or collectors, such as default notices, lien notices, or demands. A rough list of your advances is enough to start.
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Want the first month mapped for your own stack?
A free review lists every position, its draft, and what each funder's agreement allows, before you decide anything.
Free consultation. Fees explained in writing before any agreement.
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