Monarch recovery collection agency – Are they good to work with?

Since, when this account is delinquent? Its true, more the account get delinquent more good settlement offers you can get. Now the point is, this account is in collection which is a part of Citibank only. Once the account get sold to the 3rd party collection agency then you can get a good offer as well. Any how you got an offer of 55%, so you can wait for another couple of months to get a good offer from them.

Citibank probably has not sold this account...simply placed. Most of their early defaults are placed as contingency placements. First placements get the lowest settlement approvals as a general rule. I would wait it out.

I just spoke with Monarch with regards to my Moms Sears Card with Citi... I offerred 30%, they came back with 40%. I went back with 35%, but they stayed at 40... they said they couldn't go below... I accepted. The rep I talked to within Monarch was actually pretty easy to talk to and helpful!!

I hope it wasn't Kathy Craft...............RUDE LADY

I was contacted by a great guy, my balance had grown to $23,400 after a little interest of course, so I spoke with him politely and I was very eager to pay which made him want to work with me more. I flat out told him that I had just graduated college and I was having money troubles with a low paying job and they seemed to understand. They agreed to Settle for 3 payments of $1470, which equates to $4410. I am more than satisfied with an 18.8% agreement.

Quote:

Help is here. Jst reply this thread with ur monarch file number along with the last 4 digits of ur phone number and the % of settlement you are looking for. May be i can help you.

This company has been demanding $5K more than the actual debt that I incurred. They told me that if I required them to validate the debt I would forfeit my right to settle. Any settlement would be based on their inflated figure, not the figure I have a record of defaulting on. They also told me that they could not settle for less than $10K, even though I had received previous, lower settlement offers from another company. When I outlined what I could afford to settle for and why (at about 25% of the original default over 8 months), they tried to make me feel guilty (it's the usual tactic). They always ask if you think you should not pay. That is not even the issue anymore. In practical terms, my circumstances leave me UNABLE to pay the kinds of up front amounts they are demanding. They claimed that they could not settle for less than $10K because the original creditor, Citibank, had given them strict rules about how low they could settle. I contacted the president's office at Citibank. They actually called me back! They confirmed that they had completely sold off the debt and had no control over it. I have written to the FTC, Citibank and Monarch, demanding that Monarch explain the terms under which they are working for Citibank. I told them to communicate with me in writing. Amazingly, the phone calls stopped! Still waiting fort them to accept my offer to settle this debt and move on with my life.

Do you care that "somebody" has to pay your debt even if YOU dont??? My husband and I have worked hard, been thrifty, and saved all our lives. His job was eliminated the first of the year and we have struggled to pay everyone we owe, including paying $15,000 to sell our home of 10 years. Were you raised this way, to be dishonest? Is your mom proud of you? What ever happened to morality? Doing what is right just because it is right? Yes you could steal candy from a child, but that would not make it right. This debt is "YOUR" debt.... do the responsible thing and PAY IT!!! Our country is falling apart due to people not taking responsibility for their own actions:( God bless what is left of America.

Quote:

monarch [COLOR=#333333]19421941 last of phone 1318 or 8532. I am looking to settle for 18% and need it in writing. [/COLOR]

they won't send anything i writing period as this is a JDB scum.don't hold your breath waiting.

[COLOR=#333333][FONT=Arial]Quote "monarch [COLOR=#333333]19421941 last of phone 1318 or 8532. I am looking to settle for 18% and need it in writing. "[/COLOR]
[COLOR=#333333]
[/COLOR]
[COLOR=#333333]
[/COLOR]
[COLOR=#333333]Ma'am, ur file is no longer with Monarch, hence i cannot offer you any help. However you can contact the original creditor to find out which collection agency currently has ur file. I went through the options that were available until the a/c was cancelled in Dec'10, it said the lowest that could have been approved is 35% in parts & not less. Hope you find out & resolve it for your good :-)
[/COLOR]
[COLOR=#333333]
[/COLOR]
[COLOR=#333333]Debt Collectors are not enemies, they just help you with options availbable. Thanks Merry Christmas to all..[/COLOR]
[COLOR=#333333]
[/COLOR]
[/FONT][/COLOR]

monarch is a terrible company. owner is a jerk. when you get a call from them hang up.

The company was sued in 2008 by the ftc. They have numerous vilolation's of the debt collection law. Check them out on the BBB website.

How idiotic are some people this person is making an attempt to pay their debt and if these companies are so desperate to get their money they would take the offer and settle. The fact of the matter is they try to rob you blind why if times are hard do they want to tack on out ragious late fees, interest and any other fee's they can think of. If a person get's into hard times and can't pay their debt it's usually for a good reason not because they're dishonest or unamerican. These companies are just greedy and don't want to settle for the original amount owed they are preying on people that are in hard times and should just be happy to get what is due and nothing more. I can't believe you could call anyone unamerican just because they are having hard times. I'm sure taxes come out of their check just as they do yours. You need to be a little less judgmental when you don't know the whole story.....

How long have you worked for ACS? Did I see you on the dateline expose? Were you that fat, ugly woman dinking beer in the alley with the other scumbag debt collectors? I bet you were!:D

Not to many years ago I had the same judgmental, unsympathetic attitude that you do. As a college graduate, a graduate school graduate and having a banking background I never thought hard times would hit me and that my credit would be destroyed. I was obnoxiously prideful about my wonderful credit score to the point that I would look down my nose at those who didn't not sport the same "morality" that I had about my credit. That included my family. Over the past two years I have been humbled beyond belief and have come to realize that no one is immune to hard times and we can be hit by them in ways we least expect. So before you spout venom at others for their misfortune I would not generalize that everyone who does not pay back what they owe is un-american and some sort of deadbeat that has caused the current economic situation. I would hate for you to be eating humble pie in a few years as I had to.

Monarch Recovery is a debt collection agency that violates the law.
They have been fined and brought to court by the FTC.
They use numerous names to attempt to get out of abiding by the Fair Credit Act.
The responses on here are from employees of Monarch. They are trying to fool you into thinking they are legit and to pay them money.
DO NOT GIVE THEM A DIME!
report them to the FTC and send a simple cease and desist letter to what ever name they use this week.
Google cease and desist. You will find a free simple template letter to use.. Type it or write it out. Put your name in it. Google Monarch and get their newest name and address. Mail it! done!:rolleyes:

First of all, the company was formerly known as Academy Collections. They broke so many laws, lied to and stole from so many people that they were sued by the FTC. They settled for $2.25 million, then changed their name. Changing the name of a company does not change the company.

Second, they are not even BBB accredited. In order for a company to become BBB accredited they must meet the following standards:
1. Build Trust
2. Advertise Honestly
3. Tell the Truth
4. Be Transparent
5. Honor Promises
6. Be Responsive
7. Safeguard Privacy
8. Embody Integrity

There is more to read at: http://www.bbb.org/us/bbb-accreditation-standards/

These are simple standards that any decent company can attain, and thousands do without any effort. Why can't Monarch Recovery?

Make them validate everything. And then when they can't send them a cease communication letter. File complaints with the FTC and BBB.