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Golden Financial Services

GFS offers debt resolution for unsecured debts and student loans. Their pricing structure is not disclosed.

Our Score
6.3
User Score
8.0
Our Score
6.3
User Score
8.0
Rank this Company

Ratings Breakdown

Price - % of Debt

Undisclosed

Accreditations

IAPDA

Free Consultation

Yes

Min. Debt Accepted

$7,500

Money-Back Guarantee

Yes

Number of Reviews

7

This Review is maintained by

Review Last Updated: July 10, 2019

What is GFS? Golden Financial Services is a debt settlement company that focuses on settling credit card and student loan debt with creditors for less than what is owed.
Who is this program for? People with over $7,500 in unsecured debts who can’t meet their minimum monthly payments.
How long will it take? GFS’ program takes 3-5 years
How must will it cost? They do not disclose their pricing.
How much will I save? Based on the calculator they provide, you will pay back around 65% of what you currently owe.

Pros

Low Minimum Debt Requirement

Golden Financial Services provides debt relief services through negotiation to help consumers reduce the amount of debt they owe to creditors. The company requires a minimum of $7,500 in unsecured debt in order to qualify and aims to give clients relief in three years or less.

Credit Card Lawsuit Help

Golden Financial Services has a program for those who are in credit card lawsuits. They offer a free consultation helping consumers locate a lawyer to plan to resolve any legal issues.

Positive Reviews

The Golden Financial Services reviews on our site are mostly all positive (average rating is 9 out of 10 from their customers). These positive reviews highlight the company’s speed of debt resolution and great customer service.

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Cons

Unclear Pricing

Pricing is not clearly defined and may cause confusion for potential clients. We found this is due to the different programs offered in individual states. Information on the website for pricing is relative to the debt owed and interest rate charged, as well as state programs would go a long way to solving this problem.

Small Company

Golden Financial Services is a fairly small debt management company, with a total of about 10 employees. Other debt relief companies have more personnel resources to take on more clients and put more time into each client’s case. To compare, Freedom Debt Relief has over 500 employees.

Our Recommendation

Their lack of pricing and accreditations cause to not recommend them at this time.

Golden Financial Services lacks some accreditation which many consumers look for in a settlement business. A free consultation is offered to determine which program is available in each state. We feel it’s important to ensure consumers taking advantage of the consultation to be thoroughly informed about the dynamics of the services offered in their state. Ask questions. Obtain documentation of what is being purchased before purchasing due to the lack of concrete information existing on the website.

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Golden Financial Services FAQs

How much does Golden Financial Services cost?

Undisclosed. Detailed information about your specific debt situation can be obtained through a free consultation.

Are there any up-front fees?

No. There are no upfront fees.

What types of debt relief does Golden Financial Services offer?

The company’s main service is a debt settlement program. They will also counsel on a wide variety of topics:

  • Bankruptcy
  • Credit card lawsuits
  • Debt consolidation
  • Small business loans
  • Student debt assistance / consolidation

Another perk is a credit card debt calculator located on the website. All you need to do is enter in your current level of debt, interest rate, and the amount you can afford to pay each month. Then the calculator shows a table comparing debt settlement, consumer credit counseling, and how things would turn out if you continued to pay off the debt on your own. You get to see how long it will take to pay off the debt via each of the three options, the interest rate, and the monthly payment.

Can I get a free consultation?

Golden Financial Services provides free over-the-phone consultations. They will talk through your debt problems, say which solution is best for you, and provide estimates on how long it will take to pay off your debt.

They also have services for those who are in credit card lawsuits. They offer a free consultation that could help you get set up with a lawyer and plan to resolve any legal issues.

Does Golden Financial Services offer a money-back guarantee?

Yes. If a settlement is not reached, then the company will refund any payments that you have made up to that point. In the case of settlements, the funds are held in a 3rd party account that you have control of.

What types of debt do they work with?

The company only provides services for unsecured loans.

How long have they been in business?

Golden Financial Services has been in business since 2004.

Can I cancel?

If you are at any time dissatisfied with the service, you can pull out of the program without having to pay a cent more and you’ll get to keep funds accrued for settlement.

What is the minimum debt I can enroll?

The minimum debt accepted for debt settlement is $7,500

What accreditations do they have?

  • They do not have AFCC accreditation.
  • They are accredited with the IAPDA and AFSLR (Association for Student Loan Relief)

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7 Golden Financial Services Reviews

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  1. User Score
    1
    August 9th, 2019
    0 people found this review helpful!
    I am not happy at all.the conversation started so good nd asked me to do the transfer fee which I did nd after some time he told that I should go back nd get my money nd send it to his friends in Benin but my surprised is that he has been telling me lies to say that the bank has already transferred the money the only thing he was waiting is from the bank to send his slip the I can withdrew but to tell you the truth up to now today its 3 days I have not receive anything from him not from the bank but he just wanted me to send my money to his friend without transferring the funds to my account. So I can say its a frauds thieves scam.just wanted to chew my cash.I don’t recommend this company
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  2. User Score
    10
    October 11th, 2018 Hialeah, FL
    0 people found this review helpful!
    I have worked with Rick from Golden Financial Services, he has relieved my stress of being in debt. Am very pleased with the customer service and the time he took to ease my mind. I look forward to being debt free soon.
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  3. User Score
    5
    October 5th, 2018 Chicago, IL
    1 people found this review helpful!
    I’m going to start this by saying – the company itself I’m sure is wonderful. BUT. I gave them personal information with NO follow up given to me. So now I’m worried and constantly checking my credit reports to make sure nothing is open under my name that I didn’t do. I was working with someone and was really uncertain at first about moving forward. After a few conversations with my rep and with my boyfriend, I decided to move forward. There were quite a few times I was told “I will reach out to you on this day around this time” with ZERO calls that day and time. Then a few days later I would finally hear back. There were a few times I was to reach out so I would. I spoke with my rep on a Saturday and he took preliminary information from me. He claimed to be at his home office and since my case needed an exception from underwriting, he would have to call me back that following Monday to finalize everything when he was in the office. Monday came. No call. Finally a few days later I get a call and he basically insinuates that I failed to call him. Then we speak and I get “I will call you tomorrow around this time” yet again. And that was the LAST time I heard from this guy. Now a random company has my personal information that claims to be Golden Financial but I do not trust them. I will never ever use them for anything. Not after all those red flags and a man that cannot follow up on anything he says he is going to do. Way too sketchy for me.
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  4. User Score
    10
    August 9th, 2018
    1 people found this review helpful!
    I couldn’t be happier with Golden Financial Services, they’ve outperformed their contract, even repairing my credit. When first getting referred to Golden Financial from the Better Business Bureau website I felt comfortable but in the back of my mind was a bit skeptical. They put me on a 36-month plan and almost cut my payment in half from what I had been paying, which all sounded amazing but also too good to be true. I based my future on the fact that this company had zero Better Business Bureau complaints, I figured if their program wasn’t working there’d be some complaints, right? Well Obviously, I found out, that was the case. I kid you not, it’s been only 21 months and I’ve graduated from the program, 15 months faster than my contract said I would graduate. Their program included three separate teams working on my case at once, it was unbelievable how fast and efficient the process was. I expected to get threatened and harassed by creditors throughout the next three years, but the harassment was very minimal, and only occurred during the first six months and then completely came to a stop. The hardest part of their program was getting approved, they take their time and make you sit through a few long sessions on the phone. Once approved, the debt validation team takes over communications and quickly start working, sending me a welcoming package and beginning the credit restoration program, disputing several derogatory marks that I had on my credit for years prior to contacting Golden Financial. Within months after getting approved, I was seeing negative marks fall off my credit left and right, like past late marks and a few old medical collections. Then at the six-month mark, they knocked the big repossession off my credit! That’s when I knew this was the right company. See, their validation program starts disputing your credit from day one, and simultaneously they dealt with my large credit card debts through what’s called validation services. I am trying my best to correctly explain everything, so excuse me if I’m off on any of the terminologies, but I think I’m close to on point!

    I was only a month behind when enrolling in the program and needed to wait until the accounts went to the collection agency before they could get disputed, so this was the worst part of the plan because creditors were calling me. Once the accounts went to the collection agency they were immediately disputed, and within 30-60 days all of my creditors (besides one) sent me a letter saying that they agreed to stop collection on the debt due to their inability to furnish the paperwork being requested. One of the creditors sent me a letter basically saying that the debt was sent back to the original creditor. This was a scare! However, the validation team told me not to worry, and that this happens occasionally. Long story short, my original creditor quickly resold the debt to a new collection agency. The validation team immediately followed up with the new collection agency and then was able to get that last credit card debt fully disputed on that second try, exactly as it occurred with my other 4 credit card debts.

    Once all of the debts were proven invalid, they put me with a credit repair team who started disputing the new negative marks that appeared over the first year of the program, like the new late marks and collection accounts. I was also set up with an installment account, for the purpose of establishing new credit on my credit report. They told me that establishing new credit would be the best way of building my credit score. It’s shocking how this all came together and really worked, but that just goes to show you what kind of crooks these banks and credit card companies really are. I mean, the debts were mine, but these lenders and collectors could not prove that they were legally authorized to collect on ANY of my debts, which is just repulsive if you think about it!

    Thanks so much, Golden Financial Services, Paul P, Wes H and Rick S, who all set me up on the plan, and then also a big shout out to their outstanding customer service department who was always there for me when I had questions. I’ll be your best cheerleader over the years, haha, and refer anyone I know!

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  5. User Score
    10
    March 3rd, 2017
    4 people found this review helpful!
    I enrolled in a validation program with Golden Financial Services in April 2015 with $43,000 of debt & today I can say I am debt free & will stay that way, Thank you!!!
    Read More
  6. User Score
    10
    March 31st, 2016
    8 people found this review helpful!
    I joined a Validation program with Golden Financial and Prime Solutions15 months ago and have had stellar results. I was buried in debt with credit cards and private student loans. The program went very smooth and not only did they actually get rid of my debt of over $35K my credit reports have been cleared up and I look like real hero on credit. I can’t thank GFS enough for the excellent recommendation and service they’ve provided. This is the REAL deal! Professional, communicative and follow-through with spectactular results. I strongly recommend this company and this program to anyone buried in debt that’s stressing you out.
    Read More
  7. User Score
    10
    September 16th, 2014 Cornwall, NY
    9 people found this review helpful!
    These guys really helped me out. I joined their debt validation program back in 2011 and I am now debt free. They repaired my credit last year and I am now getting approved for the mortgage that I have always wanted. They resolved all of my debt and repaired my credit. I can’t believe it these guys are truly awesome. I am telling you, this is like a miracle.
    Read More
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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Our Score
6.3
User Score
8.0
Rank this Company

Ratings Breakdown

Price - % of Debt

Undisclosed

Accreditations

IAPDA

Free Consultation

Yes

Min. Debt Accepted

$7,500

Money-Back Guarantee

Yes

Number of Reviews

7
Our Score
9.0
User Score
9.1
Rank this Company

Ratings Breakdown

Price - % of Debt

15-25%

Accreditations

AFCC & IAPDA

Free Consultation

Yes

Min. Debt Accepted

$7,500

Money-Back Guarantee

Yes

Number of Reviews

1,261