Chimicles & Tikellis is investigating a potential class action lawsuit against Monarch Recovery Management for alleged violations of the Fair Debt Collection Practices Act (“FDCPA”). It has been alleged that Monarch Recovery Management violated the FDCPA by attempting to collect defaulted consumer credit card debt owed to Citibank through letters that contained false, deceptive, and misleading statements related to the Internal Revenue Service and the cancellation of debt. The alleged statement is as follows: “Whenever $600.00 or more of a debt is forgiven as a result of settling a debt for less than the balance owing, the creditor may be required to report the amount of the debt forgiven to the IRS on a 1099C form, a copy of which would be mailed to you by the creditor.”
If you or someone you know received a debt collection letter with the above statement from Monarch Recovery Management seeking to collect on a debt owed to Citibank, please use the “Email us about this Case” button to contact the attorneys below.
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