Debt Relief – Be Debt Free in 24-36 Months




Best Credit Card Debt Relief Programs & How They Affect Credit

Before we talk about each debt relief program, lets first take a moment to review the credit card debt crisis that America is currently in. Over the course of 2017 we’ve experienced record-breaking history, but not in a good way.

The Dodd-Frank Act gets repealed … the Financial Choice Act, which deregulates the strict banking policies, takes its place … banks then loosen up their lending policies and start giving out more unsecured credit and credit cards.

As more credit cards get issued and credit card companies increase credit limits, consumer debt begins to rise …

  • Credit card debt spikes-up by more than 7% over the course of 2017
  • Revolving credit debt (credit cards) reach all-time high
  • Outstanding revolving credit debt (credit cards) reaches $1.021 trillion, an all-time high as of June 2017

Source: Federal Reserve

Golden Financial Services is dedicated to turning this economy around, even if that takes getting one person at a time out of debt.

At Golden Financial Services consumers can speak with an IAPDA Certified Debt Relief Professional — for FREE.


Talk to an IAPDA Certified Debt Relief Counselor Toll-Free 1(866) 376-9846


Credit Card Debt Relief Programs

Credit card debt relief programs at Golden Financial Services are gradually chipping away at some of this debt that America is having to deal with.

Summary of Credit Card Debt Relief Programs for 2018

  • debt settlement – a hardship debt relief program that can reduce balances for almost any type of unsecured debt (good and bad credit OK)
  • consumer credit counseling – consolidates payments and reduce interest rates on credit card debt (good and bad credit OK)
  • debt consolidation – a loan that can be used to pay off any type of debt, including secured and unsecured debt (high credit score required)
  • debt validation – challenges third-party debt collection accounts and can prove debt to be “legally uncollectible” (good and bad credit OK)

Depending on your current situation, goals and needs – will determine what program is right for you.


Debt Consolidation or Debt Settlement, What’s the Better?

Debt settlement programs can save you more and offer a lower payment, compared to debt consolidation. However, debt settlement can lower credit scores. Debt settlement programs are ideal for consumers who fell behind on monthly payments and are experiencing a financial hardship.

On the flipside, debt consolidation pays off your debts in one shot. Life can become less stressful when you only have to worry about one loan to pay each month. Debt consolidation is ideal for someone who is current on monthly payments and who has a high credit score. The main benefit of debt consolidation is that you can reduce interest rates and get out of debt faster.


Debt Settlement Program Positives:

  • Debt free in under 3.5 years on average
  • Low monthly payment
  • Flexible plans – you can pay extra and finish the program faster at any time
  • You can see progress over the course of the program and this motivates clients to get out of debt faster (within six months maybe one debt gets paid off, by twelve months two debts could be paid, within 16 months a third debt gets paid off, etc..)

Debt Settlement Program Negatives:

  • Creditors harassment (How to deal with it? Once they are notified that you have an attorney — all creditor calls must be directed to your attorney.)
  • Creditors can issue you a summons (How to deal with it? The debt settlement company will settle the summons prior to the court date, for a fraction of the balance owed.)
  • The IRS could send you a bill for the taxes owed on the amount of money you saved (How to deal with it? By submitting a #982 IRS form the taxes owed can be waived.)
  • Interest and fees can accumulate on top of your original balance when enrolling into the program (How to deal with it? Make sure the debt settlement company incorporates this into your estimated savings and that they fully disclose this)
  • Credit score could go down after joining a debt settlement program since creditors aren’t paid on a monthly basis. (How to deal with it? Have a plan to rebuild your credit score as your debts begin to get paid off.)
  • Creditors are not required to settle a debt. (Make sure that if the debt settlement company can’t settle a debt that you won’t be charged anything for that account.)

Debt Consolidation Positives

  • Debt gets paid off fast.
  • Only one loan to pay back.
  • Can reduce interest rates.
  • Can help to improve credit scores. (may see an initial hit due to getting issued a new debt and the credit inquiry, but as you make “on-time payments” your credit score will rise to higher than what it was prior to getting the loan)

Debt Consolidation Negatives:

  • High credit score required to qualify.
  • Payment stays around the same as when making minimum payments.
  • Very little flexibility in the payment plan.
  • Not the right plan for anyone who is experiencing a financial hardship.


Consumer Credit Counseling Positives:

  • Credit card interest rates get reduced.
  • Pay off credit card debt faster (under five years).
  • Credit card late fees can be waived.
  • Credit score should not go down

Consumer Credit Counseling Negatives:

  • Even though credit scores may not go down, a third-party notation does go on your credit illustrating that you are on the program and future lenders may look down upon this mark.
  • Takes longer to get out of debt, compared to other programs.
  • Not much flexibility in the payment plan.


Debt Validation for Credit Card Debt Relief

Debt validation is used to challenge a debt collection company in hopes of not paying a debt.

This can be your least expensive route to dealing with a high debt collection account and getting it off your credit.

How can banks be so careless, that debt can be disputed and proven to be legally uncollectible? 

Here’s how it works … Credit card companies issue a massive number of credit cards each day. It’s one of the most profitable businesses in the word. They have their system down to a science, and it’s all aimed at making the banks rich and trapping consumers in debt.

On average more than 10% of debtors eventually fall behind on monthly payments. Credit card companies will then aggressively work to collect on a debt for around 4-6 months, then eventually giving up, and writing-off the debt.

After a bank writes off a bad debt, they get to remove it from their balance sheets — A reduction in the value of an asset or earnings by the amount of an expense or loss. In other words, after writing the debt, credit card companies recoup their lost money through tax benefits and insurances. In reality, they could then walk away from the debt and still remain profitable.

Instead, they sell your credit card account, along with hundreds of other accounts at a given time, to some third-party debt collection company … whichever debt collection company pays the most, gets the deal.

Credit card accounts are sold for as low as 5-10 cents on the dollar. What do the banks care, they’ve already been reimbursed and it’s pure profit for them. Keep in mind throughout this entire process fees are adding up, paperwork gets lost, records get flawed, accounting paperwork becomes inaccurate and the debt truly becomes — a “bad debt”.

14 laws regulate credit card companies and debt collection companies:

These laws require banks and debt collection companies to maintain certain records such as; the original contract you signed, a debt collection license, accurate accounting records and much more.

A debt validation program challenges the debt collection company. More than 30 pages of disputes get sent out on each debt validation case. Line by line requesting item after item that the laws require the debt collection company to maintain.

Most of the time the debt collection companies will give up without a fight, as they know that they couldn’t possibly supply all of the requested items.

Best Case Scenario with Debt Validation: 

  • The debt becomes legally uncollectible.
  • The client doesn’t have to pay the debt.
  • The debt gets removed from their credit.
  • Collection activity stops after disputes start.
  • Low monthly payment to debt relief company.


Debt Relief Program Creditor Guidelines:

Debt Relief Program Eligible Accounts:

  • Credit Cards
  • Student Loans
  • Bank Loans
  • Financial Company Loans
  • Debt Collection Accounts
  • Almost every type of unsecured debt is eligible

Debt Relief Program Ineligible Accounts: (The following Financial Company Loans Don’t Qualify)

1st Franklin Equitable Acceptance Magee Financial Rainbow
Aaron’s Fansa Personal Loan Majestic Lake Finance Rapid Advance Loans
Acceptance Now Farmer’s Home Furniture Mariner Finance RC Willey
Action Credit Loans Foundation Finance Mathis Brother Furniture
Regency Furniture through Acceptance Now
Allegro Freedom Acceptance Max Lend Regional Finance
American Web Loan Freeman Finance Merchant Acceptance Corp. Rent-a-Center
Amerimark G & G Loans Merit Financial Republic Finance
American Credit Acceptance General Credit Company Midwestern Financial RFFC Financial
Amicable Finance GNG Loans Midwestern Loans Rise
Aqua Finance Great Plains Lending Military Star Royal Prestige
Argon Credit Green Line Loans Millennium RSVP Loans
Atlas Loans Green Stream Lending Mobiloans Security Finance
B&W Loans Harrison Financial Montery Financial Sierra Lending
Badcock Home Furniture Headway Loans Mor Silver Slumberland
Basix Heights Financial My Loans Speedy Cash
Big Picture Loans Hy Cite Nebraska Furniture Spot Loans
Blue Horizon Loans I Owe You Financial Net Credit (NC Financial) Star Loans
Blue Trust Loans Intersect Fund Sun Loan
Cash Call Juniper Loans North Cash Texan Credit
Cash Net USA Kabbage Omni Military Loans Tide Finance
Castle Credit Kickstand Lending Oportun Tidewater
Check and Go Lend Green Opportunity Financial Tiempo Loans
Colonial Finance Lending Circle Peoples Finance Time Investment
Courtesy Loan Lending Point Pioneer Tower Loans
Curacao Lending Tree Plain Green Loans United Consumer Finance
Dab Loans Lendmark Preferred Credit Inc. Western Financial
Ditech Lion Loans Progreso Financiero Western Shamrock
Easy Cash Loan Me Radiant Cash Whitebridge Financial
Easy Pay Loan Local Loans Company Regional Finance World Acceptance
Loanmart Worth Finance

About Golden Financial Services Debt Relief Programs

  • Golden Financial Services has an A+ rating with the Better Business Bureau
  • Voted #1 on Trusted Company Reviews.
  • Golden Financial Services is IAPDA Certified and AFSLR Accredited.
  • NOT A SINGLE COMPLAINT with the Better Business BureauHow is that even possible after 15-years business? Paul Paquin, Golden Financial’s CEO answers that with: “It’s because we do the right thing for our clients and get them out of debt. We don’t just offer one program like all of the other debt relief companies, we offer a full array of debt relief programs. Golden Financial Services has partnered with the top national debt relief companies to ensure that consumers have access to every debt relief program on the market.”


Debt Relief  Program Costs

Each debt relief program has its own set of fees, but every program charges fees.

Make sure to ask the debt relief company what their fee is, and make sure their client agreement that they ask you to sign matches up with exactly how they explained it to you.

Debt settlement program fees can only be charged after a debt is settled, so make sure the debt settlement company doesn’t try to charge you upfront fees.

Debt settlement company fees range from 15%-30% of the total debt enrolled in the program. At Golden Financial Services, the debt settlement company fee is 17% of the total debt enrolled.


How do you sign up for a debt relief program?

Talk to an IAPDA Certified Debt Relief Counselor Toll-Free 1(866) 376-9846