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Trying to settle with Monarch Recovery Mgmnt

Date: Thu, 04/29/2010 - 16:46

Submitted by bmungo7
on Thu, 04/29/2010 - 16:46

Posts: 37 Credits: [Donate]

Total Replies: 4


This was a Sears Card through Citi. Now in the hands of Monarch Recovery Management, formally Academy Collections Services. Past due 162 days, but I guess that doesn't matter now that it's with a CA. I have 3 other creditors to settle with and x number of dollars to go around. Got a letter from them offering 70% settlement on 7.8k. I talked to them today, only have 2.4k available. They came back with 40%. He said that's the best he could do. That comes out to 3.1k. Can't do it... I just don't have it.

What are the consequences of this going another month or 2? Anyone have any experience with Monarch???


I settled with Monarch Recovery Management for a car that I use to lease and they never gave me a letter of release or settlement offer. I was referred to Monarch Recovery Management through another company. They took money out of my account. They are a fraud. Please get in contact with a law office before making any offers with this company. They are professional in my opinion.


lrhall41

Submitted by on Tue, 05/08/2012 - 17:12

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I know this post is old. But the best thing to do is what they ask in the settlement as a collector myself in order to get these settlements approved you have to go to the higher ups in the company or with the client and alot of the times they won't move from whatever percent they allow. So let's say they say 40 percent at 4000 n u only have 3000 pay the 3k and do 500 for two months ask for what we call a three month Sif they will work with you. Don't blame the collector. It's the client who is the asshole


lrhall41

Submitted by on Fri, 07/13/2012 - 19:09

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