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#38
golden-financial-services-review

Golden Financial Services

No Up-Front Fees, A+ BBB Rating

Our Score
3.0
User Score
6.7

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Our Score
3.0
User Score
6.7
Rank this Company

Ratings Breakdown

Price

15-20%

Accreditations

AFCC or IAPDA
None

Free Consultation

is one included?
Yes

Time in Business

total # of years
11 Years

A+

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
3

This Review is maintained by

Review Last Updated: June 29, 2016

Golden Financial Solutions is a company providing consumers debt settlement services to help ease the constraints of debt. This company has been voted best debt settlement program by eKomi, a social commerce technology enabling online businesses to generate customer reviews and ratings. This company has been in business since 2004, bringing consumers 11 years of settlement and debt validation experience. Services include debt settlement and counseling about credit, consolidation and more.

Rank Chart
Price (% of debt)
Smallest Debt Accepted
Review

#1

15-25%
$7,500

#2

15-25%
$7,500

#3

15-25%
$7,500

#38
golden-financial-services-review

15-20%
$7,500

The Good

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.

A free phone consultation is available where a staff member will assess the financial status of the caller and determine qualification, based on the state of residence. Programs vary by state and will be determined during the consultation.

For debt validation services, pricing will be on a case-by-case basis and determined on the amount the client enrolls. For example, for a $30,000 debt Golden Financial Services would charge $1,750, which would be divided into monthly payments. No escrow account is required. Detailed information about specific debt situations and what services is offered in each state can be obtained through a free consultation.

They also have services 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.

Highlights to this company include:

  • Fees of 15% to 20% of enrolled debt
  • Attorney protected
  • Over 11 years experience
  • Updated financial literacy resources

The Bad

This company lacks accreditation with the AFCC, IAPDA and the BBB, although they do have an A+ rating and minimal complaints.

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 relative to debt owed and interest rate charged, as well as state programs would go a long way to solving this problem.

Besides pricing, it is challenging to discern the services they offer and the ones that they solely consult on. The best option for discovery is to call in and ask for clarification or request a free consultation.

Compare to the top rated debt settlement companies

The Bottom Line

Golden Financial Services has an outstanding rating with the BBB and offers clients competitive rates for their settlement and validation services. They lack 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.

Their additional features including their credit debt calculator and free consultation are helpful for potential clients, but overall we are concerned about their services. Their lack of pricing and accreditations cause us to suggest other settlement options.

Contact Information

Website: nomorecreditcards.com
Email: [email protected]
Phone: 1-866-376-9846
Address:
600 Palm Ave
Imperial Beach, CA 91932

How Much Does Golden Financial Services Cost?

Pricing depends on the specific customer circumstance. As an example, they say that in the case of a $30,000 settlement, Golden Financial Services would charge $1,750, which would be divided into monthly payments. 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.

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 Does Golden Financial Services Work With?

The company only provides services for unsecured loans.

About Golden Financial Services

Golden Financial Services has been in business since 2004. The company strives to inform and educate consumers to make smart financial choices. GFS specializes in debt settlement and negotiation.

Time in Business

11 Years. Golden Financial Services has been in business since 2004.

BBB

The company has an A+ rating with the Better Businesses Bureau and has resolved 9 complaints over the past 3 years. Four of the complaints were advertising/sales issues, while the other 5 were problems with the product/service. Golden Financial Services has been active in responding to customers on the BBB site.

Debt Education

The credit card debt calculator is a great tool for seeing your options. The company also authors a debt relief blog, with 3-4 new posts every month. Each post has a helpful mix of content, pictures, and video, and covers the large spectrum of the credit world. For those who aren’t as strong with the English language, Golden Financial Services offers a section in Spanish.

Debt statistics and implications of bankruptcy are discussed in addition to consolidation and settlement.

Mobile Friendly

The website for Golden Financial Services is meant to be viewed on a computer. The company doesn’t have a mobile site, so what you see on your monitor will be compacted onto your phone screen if you choose to brave that route.

Cancellation Policy

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.

Services Available

The company’s main service is a debt settlement program. They will also counsel on a wide variety of topics, including debt consolidation, credit lawsuit services, student debt consolidation, equipment business loans, and general business loans up to $250,000.

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.

Minimum Payment Accepted

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

Online Dashboard

Yes, you can log in to see your account information with Golden Financial Services. For both their programs you can monitor everything that happens with it.

Accreditations

No, they do not have an AFCC or IAPDA accreditations.

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3 Golden Financial Services Reviews

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  1. User Score
    10
    March 31st, 2016
    3 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
  2. User Score
    0
    August 27th, 2015 Tempe, AZ
    2 people found this review helpful!
    I wish there was a negative 3 button to show my dislike for this place. I signed up for this program because my Wife and I had lots of medical debt in collections. We thought it would be easier to just settle these debts by having Golden Financial reach out and come to a settlement amount. Our information was handled by a third party company called Clearing Solutions. We paid them 1/3 of the total under the terms that they would clear our debt. That was $1200. After 5 days I got a packet in the mail with envelopes and a call log. I gave them a call and they told me that they needed to invalidate my debts, so they needed to track every time a collection company called me. I was very confused. All I wanted to do was settle the large amounts of the accounts. After calling back I realized this program wasn’t for us. They were valid debts and we just wanted to settle the amounts. I didn’t feel comfortable disputing services we actually received just to clear the debt. So after 7 days I called and cancelled the program. The part that was the worst is what followed after. We had submitted a $1200 payment as our first of three installments. They told us it would take 30 days to review this cancellation to see if we would qualify for a refund. We had the program for 7 days and literally were only sent a packet of envelopes and a call log. We hadn’t even been assigned a case manager yet. GO ahead and subtract $1.75 for paperwork. I was so livid, I asked to speak with a manager multiple times and Amanda insisted she was a manager and kept repeating herself “it takes 30 days to review if you will get a refund, keep an eye on your email” I called back every week to check the status. Still had not been reviewed. Finally on day 30 I had never received an email. I called Amanda and asked the status and she said “well your 30 days is coming up” …..NO, my 30 days on the calendar is today and her response was “oh you’re going off the calendar” UMMMM Yes, how else do people count 30 days???? So she sent an email over to the supervisor that was looking at the account to get things pushed a little more. Took 8 days before anyone finally fave me information.
    I finally heard back and they decided to settle for $800. They took $400 from me and justified it by saying that and I cancelled within 7 days and not 5. So 2 days cost me $400. The refund paperwork said that I could not file a complaint with the BBB or I would have to pay the money back. SO, even if you do your research like me……it wont show the real complaints because they will make it so where you cant file a complaint if you want any money back. PLEASE PLEASE DO NOT GO WITH THIS COMPANY. IT WAS A NIGHTMARE AND THEY TOOK MY MONEY AND DID NOTHING FOR ME. I DONT WANT ANYONE TO MAKE THE SAME MISTAKE
    Read More
  3. User Score
    10
    September 16th, 2014 Cornwall, NY
    4 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

Poll

  • When looking for a debt settlement company, which of these two aspects is most important to you?
  • 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
3.0
User Score
6.7
Rank this Company

Ratings Breakdown

Price

15-20%

Accreditations

AFCC or IAPDA
None

Free Consultation

is one included?
Yes

Time in Business

total # of years
11 Years

A+

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
3
Our Score
9.4
User Score
9.6
Rank this Company

Ratings Breakdown

Price

% of total debt
15-25%

Accreditations

AFCC or IAPDA
AFCC & IAPDA

Free Consultation

is one included?
Yes

Time in Business

total # of years
14 Years

A+

Min. Debt

Min. debt accepted
$7,500

Guarantee

money back guarantee?
Yes

Number of Reviews

User reviews here on BDC
284