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Florida-based debt settlement, credit repair, and student loan consolidation company claiming $100M+ in settled debt with zero upfront fees and A+ BBB rating since 2009.
Data compiled from public sources
Madison Monroe & Associates was founded on principles of providing ethical, moral, and honest money-saving solutions to consumers struggling with unsecured debt. The company operates from Florida and markets itself as a full-service debt resolution provider with over a decade of operating history. According to their website, they have completed 13,908 settlements totaling $100,282,239 in debt, resulting in $51,739,753 in claimed client savings.
The company offers three primary services: debt settlement (negotiating lump-sum payoffs with creditors), credit repair (disputing negative items and reestablishing credit profiles), and student loan consolidation (consolidating federal student loans to reduce payment complexity). They claim their debt settlement programs can eliminate debts within 12-18 months while clients pay back 40-60% less of total debt. Their business model charges zero upfront fees, with compensation only after settlements are achieved.
Madison Monroe differentiates itself through several stated commitments: no upfront fees, A+ BBB rating maintained since 2009, 24/7 financial transparency and access, freedom to cancel anytime, and combined 70+ years of experience with credit bureaus and collection agencies. Their marketing emphasizes personal service, professional debt arbitrators, and a customer service team available by phone, email, and text.
Important caveats: The website contains no information about licensing, regulatory oversight, specific settlement terms, typical timelines, hidden fees, or how long credit repair results take. No independent verification of the claimed settlement numbers or savings amounts is provided. The testimonials shown are limited and undated beyond the year. Debt settlement services carry inherent regulatory complexity and consumer risks that are not addressed in the provided content.
When evaluating debt relief companies, consumers should compare settlement programs against alternatives like debt consolidation loans, which combine multiple debts into a single fixed-rate payment. Credit counseling through nonprofit agencies offers free budgeting help without impacting credit scores. For those whose credit has already been damaged, credit repair services can address inaccurate negative items on reports. Personal loans for bad credit may provide funds for debt payoff at lower rates than credit cards, and credit monitoring services help track progress throughout the recovery process. Consolidating high-interest balances into a single installment loan with a fixed rate can reduce total interest paid and simplify monthly budgeting.
While repairing your credit, a secured card builds positive payment history from day one. Several options require no credit check.
This is state-level context for Get Out of Debt consumers in Miami Lakes, FL. It does not confirm that Madison Monroe and Associates or this specific location is licensed.
State regulator
Florida Office of Financial Regulation
Consumer protection
Relevant law: Florida Credit Services Organization Act (Fla. Stat. §§ 817.7001-817.706)
Registration: Required with Florida Department of State, Division of Corporations
Upfront fees: Listed as prohibited in the current CreditDoc state summary
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Madison Monroe and Associates offers 12 services including Debt settlement negotiations with creditors and collection agencies, Lump-sum settlement facilitation for unsecured debts, Credit dispute and negative item removal services, Credit score restoration and repair programs, Federal student loan consolidation, and 7 more.
Madison Monroe and Associates is best suited for Consumers with $5K-$50K+ in unsecured debt (credit cards, personal loans) who can afford monthly deposits into settlement accounts, Florida residents seeking one-stop debt resolution covering settlement, credit repair, and student loans, Borrowers with federal student loans spread across multiple servicers looking to consolidate payments.
Key strengths: No upfront fees—company only profits after settlements are achieved; Maintained A+ BBB rating since 2009, suggesting long-term business stability; Claims 40-60% average debt reduction per client across 13,908+ completed settlements. Areas to consider: No disclosure of specific fees charged after settlement or percentage of savings retained by company; Website does not specify regulatory licensing, credentials, or compliance framework for debt settlement services.
In the Get Out of Debt category, comparable providers include Debt Consolidation US, Debt Consolidation US, Holland Law Group, P.A.. Each company has different strengths — compare services, pricing, and consumer complaint records to find the best fit.
CreditDoc Diagnosis
Madison Monroe & Associates is best for Florida residents with moderate to high unsecured debt who prefer a single provider for debt settlement, credit repair, and student loans, and who value no-upfront-fee models. Critical caveat: debt settlement services carry regulatory complexity and risks (impact on credit during negotiation, potential tax liability on forgiven amounts, collection lawsuits) that are absent from the company's marketing materials; consumers should verify licensing and understand these risks independently before engaging.
Debt Consolidation US offers free debt consolidation and credit card consolidation services in Miami, Florida, connecting consumers with debt professionals to reduce payments and avoid bankruptcy.
Best for: Miami and Florida residents with $10K-$100K+ in credit card debt seeking consolidation options, Consumers overwhelmed by multiple creditors who want free initial guidance before committing
Debt Consolidation US offers free debt consolidation and management services in Jacksonville, Florida, helping consumers reduce monthly payments and avoid bankruptcy through professional debt relief programs.
Best for: Consumers with $10K-$100K+ in credit card debt seeking consolidation options, Jacksonville, Florida residents overwhelmed by multiple creditors and high-interest payments
Florida consumer law firm providing attorney-led bankruptcy, debt defense, and foreclosure defense across the state. Free initial consultation available.
Best for: Florida residents facing Chapter 7 or Chapter 13 bankruptcy, Homeowners in foreclosure seeking legal defense or loan modification
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1. What's your primary financial goal?
Compare the three most effective debt payoff methods with real examples. Find the strategy that matches your personality and financial situation.
Read guide →When you're retired, disabled, or on a fixed income, debt feels impossible. Here's a realistic plan that doesn't pretend you can just 'earn more.'
Read guide →Whether you're recovering from bankruptcy, divorce, job loss, or years of debt, here's a practical roadmap for rebuilding your financial life.
Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
When you fail to repay a loan according to the agreed terms — usually after 90-180 days of missed payments. It's the point where the lender gives up on collecting normally.
Default triggers severe consequences: credit score drops 100+ points, the debt may be sent to collections, you could be sued, and your wages or assets could be seized.
Example
You miss 4 consecutive car payments. The lender declares your loan in default, repossesses your car, sells it at auction for $8,000, and you still owe the remaining $5,000 (called a deficiency balance).
A federal agency created in 2010 to protect consumers from unfair financial practices. They write rules, supervise financial companies, and handle consumer complaints.
The CFPB is your most powerful ally against predatory lenders. Filing a complaint with them gets a response from the company within 15 days — companies take CFPB complaints seriously.
Example
A debt collector calls your workplace after you told them to stop. You file a CFPB complaint online. Within 15 days, the collection agency responds and agrees to stop. The CFPB tracks complaint patterns across all companies.
A federal law that limits what debt collectors can do. They can't call before 8am or after 9pm, can't harass you, can't lie, and must stop contacting you if you request in writing.
Knowing your FDCPA rights stops abusive collection tactics. If a collector violates the law, you can sue for up to $1,000 per violation plus attorney fees.
Example
A collector calls your workplace 3 times after you told them not to. That's 3 FDCPA violations. You hire a consumer attorney (free — they get paid by the collector). The collector settles for $3,000.
A court order that requires your employer to withhold part of your paycheck and send it directly to a creditor. Usually happens after a creditor sues you and wins a judgment.
Federal law limits garnishment to 25% of disposable income. Some states have lower limits. Student loans and taxes can be garnished without a court order.
Example
You owe $8,000 on a defaulted credit card. The bank sues, gets a judgment, and garnishes your wages. On a $3,000/month net paycheck, they take $750/month until the debt is paid.
A time limit (typically 3-6 years, varies by state) after which a creditor can no longer sue you to collect a debt. The debt still exists, but they lose the legal power to force payment.
Knowing your state's statute of limitations prevents you from being tricked into paying debts that are legally uncollectable. Beware: making a payment can restart the clock.
Example
You have a $3,000 credit card debt from 2019. Your state has a 4-year statute of limitations. In 2024, a collector calls demanding payment. The statute has expired — they cannot sue you.
A type of bankruptcy where you keep your assets but follow a court-approved 3-5 year repayment plan to pay back some or all of your debts. Stays on credit for 7 years.
Chapter 13 is better than Chapter 7 if you have a home or assets you want to keep. It can stop foreclosure and let you catch up on mortgage payments over 3-5 years.
Example
You're 3 months behind on your mortgage and have $30,000 in credit card debt. Chapter 13 stops foreclosure and puts you on a 5-year plan: you pay $600/month to catch up on the mortgage and pay 40% of the credit card debt.
A type of bankruptcy that wipes out most unsecured debts (credit cards, medical bills) by liquidating non-exempt assets. It stays on your credit for 10 years.
Chapter 7 gives you a fresh start but at a steep cost: 10 years on your credit, difficulty getting loans, and you may lose assets. Income must be below your state's median to qualify.
Example
You have $45,000 in credit card debt and earn $35,000/year. Chapter 7 erases the debt. You keep exempt property (basic car, household items). Your score drops to ~500 but you're debt-free.
When a creditor declares your debt a loss after 180 days of nonpayment and removes it from their books. But you still owe the money — they just stop expecting to collect it themselves.
A charge-off is one of the most damaging entries on your credit report and stays for 7 years. The debt is usually sold to a collection agency who will pursue you for it.
Example
You stop paying your $4,000 credit card. After 180 days, the bank charges it off and sells the debt to a collector for $800. The collector now contacts you demanding the full $4,000 (they profit from what they collect above $800).
When an unpaid debt is transferred or sold to a third-party collection agency that specializes in recovering the money. Collection accounts appear on your credit report for 7 years.
Even a $50 collection account can drop your score 50-100 points. Some newer FICO models (FICO 9) ignore paid collections, but many lenders still use older models.
Example
An old $200 gym bill goes to collections. It appears on all 3 credit reports and drops your 720 score to 640. Paying it helps with newer scoring models but under FICO 8 (still widely used), a paid collection still hurts.
Combining multiple debts into one single loan with one monthly payment, ideally at a lower interest rate. It simplifies repayment and can reduce total interest.
Consolidation works best when you get a lower rate than your existing debts. But it doesn't reduce what you owe — and extending the term can mean paying more total interest.
Example
You have: $5,000 at 22% (credit card), $3,000 at 18% (store card), $2,000 at 25% (payday loan). A $10,000 consolidation loan at 11% saves you ~$2,100 in interest over 3 years.
Negotiating with creditors to accept less than the full amount you owe — typically 40-60 cents on the dollar. Usually done after you've already fallen behind on payments.
Settlement can save thousands, but it severely damages your credit (settled accounts show for 7 years) and the IRS may tax the forgiven amount as income.
Example
You owe $15,000 on a credit card and negotiate a settlement of $7,500 (50%). You save $7,500 but: your credit drops 100+ points, the account shows 'settled' for 7 years, and you may owe taxes on the $7,500 forgiven.
The percentage of your monthly gross income that goes toward paying debts. Lenders use it to judge whether you can afford another loan payment.
Most lenders want DTI below 36% for personal loans and below 43% for mortgages. Above that, you're considered overextended and likely to be denied.
Example
You earn $5,000/month gross. Your debts: $1,200 mortgage + $300 car + $200 student loans = $1,700/month. DTI = 34%. A new $400/month loan would push you to 42% — risky for lenders.
A court ruling that says you legally owe a specific amount to a creditor. It gives the creditor power to garnish wages, freeze bank accounts, or place liens on your property.
Judgments are enforceable for 10-20 years (varies by state) and can be renewed. They give creditors far more collection power than a simple unpaid debt.
Example
A credit card company sues you for $8,000 and wins a judgment. They can now garnish 25% of your paycheck ($750/month on a $3,000 net salary) and freeze your bank account.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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