/Rotate 0 BBB reports on known marketplace practices. /Type /Page >> /Resources 265 0 R << >> Amount in Dispute: $8,600.00 By the time Defendants began negotiating down the debt, the $910 debt had risen to $1,827.01. Monarch provides the law-firm faade while Strategic Financial Solutions carries out the debt resolution program. /AA 5 0 R This company took over $25,000 from me then canceled my account, did not contact me and refuses to give me any information or any access to my online portal. << Defendants knowingly mislead consumers by misrepresenting how much they will save and how quickly their debts will get resolved. Though consumers sign agreements and make payments to Monarch, they rarely, if ever, speak with Monarch employees, let alone Monarch lawyers. /Resources 125 0 R In one case, Defendants settled a debt worth $3,943, agreeing to pay between 40-60% of the debt. >> Hi Steve, I am a victim of Monarch until now for 3 years. >> Reviews I see that with the Debt Validation companies. /MediaBox [0 0 612 792] 21 0 obj Defendants did not make any settlement payments from the consumers account. /CropBox [0 0 612 792] The Rule prohibits debt relief companies from charging fees before settling or resolving a consumer debt. Regardless of how many times I have told your representatives over the phone to call Monarch Legal Group at 877-450-8853, they keep calling me and my wife. endobj /Contents [186 0 R 187 0 R 188 0 R] An obligation to make oral and written disclosures to prospective consumers, including a warning that debt settlement services may not be suitable for all consumers and that consumers should inquire about other means of dealing with debt, including, but not limited to, nonprofit credit counseling and bankruptcy. 225 ILCS 429/115(a). /CropBox [0 0 612 792] Instead, Defendants require consumers to sign an Account Servicing Agreement with Reliant Account Management, LLC (RAM). How BBB Processes Complaints and Reviews. As discussed in paragraph 36 above, customers pay a Retainer Fee (often around $1,000) and a monthly flat Legal Administration Fee (from $55 to $85). The representatives read from a script about Monarchs program and ask consumers to sign an agreement after the meeting. << /Contents [270 0 R 271 0 R 272 0 R] endobj 61 0 obj /Annots [] /MediaBox [0 0 612 792] 57 0 obj /Resources 189 0 R endobj Then I was told I qualified for a debt consideration program. CALL NOW 888-572-0176. WebMonarch Recovery Management is a collection agency based in Pennsylvania. /Type /Page Strategic Financial Solutions also operates and/or works jointly with Timberline Financial, LLC, which lists the same office addresses as Strategic Financial Solutions on its website. 17 0 obj /Rotate 0 36 0 obj Employee and customer online reviews suggest that Strategic works with as many as ten law firms:. /Contents [82 0 R 83 0 R 84 0 R] /Count 10 *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. >> endobj /Annots [] /Resources 149 0 R /Resources 245 0 R /Type /Page /Annots [] 58 0 obj Don't have an account? /Annots [] Sign up for free now, Sign up for free to participate on the website. >> Making a full refund, as the consumer requested, Refuse to adjust, relying on terms of agreement. /MediaBox [0 0 612 792] /Type /Page /Resources 205 0 R /CropBox [0 0 612 792] endobj Our complaint services are free and our team of expert mediators will assist in resolving complaints with businesses. /CropBox [0 0 612 792] /Annots [] Acknowledging the harm that debt resolution programs create for consumers with debt and credit issues, governments have increased regulation in this area. /Resources 225 0 R 37 0 obj Attorneys and/or law firms promoted through this website are also federally designated Debt Relief Agencies. >> << Well guide you through the process. DISCLOSURES REQUIRED UNDER 11 U.S.C. Monarch nevertheless tells consumers that they pay for legal services and will have the assistance of attorneys. In its client retainer agreement, Monarch explains that bankruptcy is another option but discourages that option by stating that it will be reflected as a permanent record on a Clients credit report for up to 10 years.. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. [email protected]. King Charles: From excessively shy boy to monarch-in Monarchs agreement misleads consumers and contradicts other statements the company makes in prominent promotional materials that consumers rely on. 24 0 obj >> /Rotate 0 The City investigation indicates that consumers do not have access to advice from attorneys, and many never receive any form of legal representation. Defendants charge a percentage of the consumers total debt as a Service Cost to the non-legal servicesrelated [to the] debt resolution plan. In examples the City has seen, that cost has been as high as 19%. << This omission dramatically changes the savings and time estimates Defendants provide to consumers, because of the high interest rates applied to consumer debt. 52 0 obj One consumer told the City that after making regular payments, he received a summons from a creditor and promptly contacted Monarch. Reg. /Count 10 On information and belief and as described more fully below, Strategic and Monarch jointly operate the debt settlement program. Anyone can file a complaint Contact Us Monarch Legal Group. The Citys investigation indicates that Defendants do not act in consumers best interest when creating a customized payment program. endobj << Settlement is within acceptable firm parameters. Defendants know that they charge these fees and that consumers cannot complete their program without paying them, and yet Defendants omit estimated fees when representing to consumers how much money they will save. /Kids [55 0 R 56 0 R 57 0 R 58 0 R 59 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R] The Citys investigation indicates that in reality, Monarch employs only the few attorneys needed to complete rote and scripted check-in calls with clients to suggest that an attorney is involved in the consumers program.
