Negotiate Mca Judgment Settlement

Summary

Negotiating with an MCA company to reduce a $23,000 judgment using $8,500 in frozen funds can be effective. Contact the company directly, propose a settlement, and ensure the agreement is documented. Request the company to file a Satisfaction of Judgment with the court once settled. Highlight the immediate availability of funds to improve chances of success.

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No i have not and I am dealing with their collection company not them directly. I think I should go to the source
Yes, dealing directly with the MCA company might be beneficial. They might be more flexible in negotiating the terms. Here are some steps you could take:
- Contact the MCA company directly.
- Propose a settlement that reduces the judgment amount in exchange for releasing the frozen funds.
- Ensure any agreement is documented in writing.
Would you like to get connected to a local lawyer who can assist you further with this matter?
No. But I do need to know how to make sure the judgement is listed as settled once we reach an arrangement.
To ensure the judgment is listed as settled once you reach an arrangement, you can follow these steps:
- Obtain a written settlement agreement from the MCA company.
- Ensure the agreement includes terms for releasing the frozen funds and updating the judgment status.
- After the settlement, request the MCA company to file a "Satisfaction of Judgment" with the court.
Have you already contacted the MCA company to discuss these steps?
No I have not spoke with the MCA company yet.
Case Rating: *
It sounds like you're on the right track by planning to negotiate directly with the MCA company. Here’s a brief recap of the steps:
- Contact the MCA company directly.
- Propose a settlement reducing the judgment amount in exchange for releasing the frozen funds.
- Obtain a written settlement agreement.
- Ensure the MCA company files a "Satisfaction of Judgment" with the court after the settlement.
Good luck! If you need more detailed guidance, feel free to ask.
what is the probability of success?
Case Rating: *
The probability of success in negotiating a reduced judgment amount with the MCA company can vary based on factors such as the company's willingness to negotiate, the strength of your proposal, and the specifics of the debt. It's beneficial to contact them directly and propose a fair settlement that reduces the judgment in exchange for releasing the frozen funds. Documenting everything in writing and ensuring the filing of a "Satisfaction of Judgment" can also improve your chances.
Would you like to provide more details about your situation so I can offer more specific guidance?
Can you write a request for satisfaction of judgment or a framework for the agreement
Case Rating: *
Sure, here's a framework for a settlement agreement and a request for satisfaction of judgment:
Settlement Agreement Framework:
*. Parties:
- Identify the parties involved (e.g., MCA Company and you).
*. Recitals:
- Outline the background of the judgment and the frozen funds.
*. Settlement Terms:
- Specify the agreed-upon reduced judgment amount.
- Detail the release of the frozen funds.
- Include any payment terms and deadlines.
*. Mutual Releases:
- State that both parties release each other from further claims related to this judgment.
*. Satisfaction of Judgment:
- Include a clause that the MCA company will file a "Satisfaction of Judgment" with the court upon receiving the agreed settlement amount.
*. Governing Law:
- Mention that the agreement is governed by the laws of Texas.
*. Signatures:
- Provide spaces for both parties to sign and date the agreement.
Request for Satisfaction of Judgment:
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Email Address]
[Date]
[Recipient's Name]
[MCA Company Name]
[Company Address]
[City, State, ZIP Code]
Dear [Recipient's Name],
Subject: Request for Satisfaction of Judgment
I am writing to confirm our recent settlement agreement regarding the judgment [Case Number] dated [Date of Judgment]. As per our agreement, I have paid the reduced judgment amount of [$Amount] in exchange for the release of the frozen funds of [$*,*].
I kindly request that you file a "Satisfaction of Judgment" with the [Court Name and Location] to update the court records and reflect the settlement. Please provide me with a copy of the filed satisfaction for my records.
Thank you for your cooperation.
Sincerely,
[Your Name]
---
I hope this helps! If you have any questions or need further assistance, feel free to ask.
what about the agreement to exchange the frozen funds for a satisfaction of judgement
Case Rating: *
It looks like you're focusing on negotiating an agreement to exchange the frozen funds for a satisfaction of judgment. Here’s a framework for that specific agreement:
Agreement to Exchange Frozen Funds for Satisfaction of Judgment:
*. Parties:
- [Your Name] (Debtor)
- [MCA Company Name] (Creditor)
*. Recitals:
- The debtor has a judgment against them for $*,*.
- The creditor has $*,* of the debtor’s funds frozen.
*. Settlement Terms:
- The creditor agrees to release the frozen funds of $*,*.
- The debtor agrees to the settlement of the judgment in exchange for the release of the frozen funds.
*. Mutual Releases:
- Both parties release each other from further claims related to this judgment upon the execution of this agreement.
*. Satisfaction of Judgment:
- The creditor agrees to file a "Satisfaction of Judgment" with the court upon the release of the frozen funds.
*. Governing Law:
- This agreement is governed by the laws of Texas.
*. Signatures:
- [Your Signature]
- [Creditor's Signature]
I hope this helps! If you have any questions or need further assistance, feel free to ask.
Here are the details of the total deal. The MCA company purchase *,* of receivables for *. The origination fees were $*. the final pay off before default was $*,*. They have $* frozen in our paypal account that can be used to pay. They sued and was awarded a judgement of $*,*. If they settle they would not lose any principal
Case Rating: *
It appears you have a strong basis for negotiating a settlement with the MCA company, especially since the frozen funds can cover a significant portion of the judgment. Here are some steps to consider:
- Contact the MCA company directly.
- Propose a settlement using the frozen funds to reduce the judgment amount.
- Ensure any agreement is documented in writing.
- Request the MCA company to file a "Satisfaction of Judgment" with the court once the settlement is reached.
Would you like to provide more specific details about your current situation or any other questions you might have?
Can you use the details that I provide to write a proposed settlement?
Case Rating: *
Sure, here’s a proposed settlement agreement based on the details you provided.
Settlement Agreement
Parties:
- [Your Name] (Debtor)
- [MCA Company Name] (Creditor)
Recitals:
- The debtor has a judgment against them for $*,*.
- The creditor has $*,* of the debtor’s funds frozen in a PayPal account.
- The creditor purchased $*,* of receivables for $*,*, with origination fees of $*.
- The final payoff before default was $*,*.
Settlement Terms:
*. The creditor agrees to release the frozen funds of $*,* from the PayPal account.
*. The debtor agrees to settle the judgment amount in exchange for the release of the frozen funds.
*. The reduced judgment amount is agreed upon to reflect the principal, ensuring no loss.
Mutual Releases:
*. Both parties release each other from further claims related to this judgment upon the execution of this agreement.
Satisfaction of Judgment:
*. The creditor agrees to file a "Satisfaction of Judgment" with the court upon the release of the frozen funds.
Governing Law:
*. This agreement is governed by the laws of Texas.
Signatures:
- [Your Signature]
- [Creditor's Signature]
Request for Satisfaction of Judgment
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Email Address]
[Date]
[Recipient's Name]
[MCA Company Name]
[Company Address]
[City, State, ZIP Code]
Dear [Recipient's Name],
Subject: Request for Satisfaction of Judgment
I am writing to confirm our recent settlement agreement regarding the judgment [Case Number] dated [Date of Judgment]. As per our agreement, I have paid the reduced judgment amount of [$Amount] in exchange for the release of the frozen funds of $*,*.
I kindly request that you file a "Satisfaction of Judgment" with the [Court Name and Location] to update the court records and reflect the settlement. Please provide me with a copy of the filed satisfaction for my records.
Thank you for your cooperation.
Sincerely,
[Your Name]
I hope this helps! If you have any questions or need further assistance, feel free to ask.
what are the chance of a mca company settling with these details?
Case Rating: *
The chance of the MCA company settling with the details you provided is relatively high, especially since the frozen funds cover a significant portion of the judgment.
To improve your chances:
- Present a clear, fair settlement proposal.
- Highlight the immediate availability of the funds.
- Ensure all terms are documented in writing.
Would you like more specific guidance or have any other questions?