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Holiday credit card debt relief options in 2018 are the best that they’ve ever been, in terms of “saving money” and “addressing credit issues”. But on the flip side, U.S. credit card debt is at an all-time high and what’s even worse is that credit card interest rates are expected to increase in 2018.

Take a look at these stunning credit card debt statistics:

  • Credit card debt spikes-up by more than 7% over the course of 2017
  • The average credit card debt per household is over $15,000
  • Outstanding revolving credit debt (credit cards) reaches $1.021 trillion (an all-time high)l
  • The Federal Reserve expects credit card interest rates to rise after December 2017


What’s caused credit card debt to rise to an all-time high?

The Dodd-Frank Act gets repealed.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.

Simultaneously, the cost of medical treatment is going up, year after year.

As consumers gain access to higher credit limits, they start charging their medical treatments on their credit cards.

“Over the past 10 years, medical costs have increased 34%, which is more than any other spending category the typical American is subject to, such as food, housing, and the like. A good 29% of Americans have problems keeping up with their medical bills, according to the Kaiser Family Foundation, and 37% have taken on additional credit card debt to pay for those costs. The problem, of course, is that charging medical expenses on a credit card often means adding to those costs in the form of accrued interest.”

Source: The Motley Fool 


You may not have to pay the debt

Holiday credit card debt can turn your New Year’s Eve party into a “pity party”. But what if you found out that behind the scenes at Chase, Discover, Citibank, or at any bank for that matter; that your bank was breaking the law and you may not have to pay that $10,000 credit card debt.

Don’t drop your head in a depression just yet, the tables can quickly turn in the world of “debt”–IF you play your cards right. That frown on your face can turn into a smile as fast as you blink your eyes–and you could walk away from a debt without having to pay a dime in some cases.

The following article could be that crystal ball that you wish you had during your darkest moments in time. So buckle up, were about to reveal “holiday credit card debt relief options” that the banks like to keep on the “hush-hush”.


Summary of Holiday Credit Card Debt Relief Programs for 2018

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

If you’re a more visual type learner — stop reading here — and visit this credit card relief infographic.

Talk to an IAPDA Certified Professional to See if You’re Eligible for Holiday Debt Relief! Call Toll-Free (866) 376 9846



Debt Consolidation or Debt Settlement, What’s the Better Option for Holiday Debt Relief?

Debt settlement programs can save you more and offer a lower payment, compared to debt consolidation. You can experience a feeling of “immediate holiday credit card relief” after starting a debt settlement program

However, the downside of debt settlement is that it can lower credit scores.

Expert Tip: 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.

Expert Tip: 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 one debt could get 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.)

 get holiday debt relief quote


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.
  • Must pay back entire debt, PLUS interest.


get holiday debt relief quote


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:

  •  Third-party notation on credit.
  • Only credit cards qualify.
  • Takes longer to get out of debt, compared to other programs.
  • Very little flexibility in the payment.

get holiday debt relief quote


Debt Validation for Holiday 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? 

Holiday Debt Relief with Debt Validation Programs at

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 — and report “a reduction in the value of an asset or earnings by the amount of an expense or loss”. In other words, after writing off a debt, credit card companies recoup their lost money through tax benefits and banking insurance. 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”.

Credit Card & Debt Collection Laws (14 laws regulate credit card companies and debt collection companies)

These consumer debt protection laws require banks and debt collection companies to maintain accurate, complete and legally binding 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 — sending out more than 30 pages of disputes … where line by line different items are being requested.

Most of the time the debt collection companies will give up without a fight, as they are clearly aware of the fact that they don’t have legally verifiable records to validate the debt.

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.

get holiday debt relief quote


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

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 in 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 confirm on their client agreement that what they told you 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.

Average 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.


Golden Financial Services aims to be the driving force that rescues the U.S. economy in 2018

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


Federal Reserve System, Consumer Credit – G.19, December 07, 2017, 12/22/2017, FederalReserve.Gov

Maurie Backman, “Is This the Reason U.S. Credit Card Debt Keeps Climbing?”, The Motley Fool, Dec 20, 2017 at 6:09AM, 12/22/2017, FederalReserve

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