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Welcome to Golden Financial Services - Let our San Diego professionals provide you a plan to get out of debt.

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BBB A+ Rating
A+ BBB Rating
“I absolutely recommend GFS for the kind of service offered by their debt specialists. I, personally, was struggling with debts worth $20,000. I was debt free in 3 years. Plus, the debt specialists ensured that I became more “responsible” with my finances.”
— by Donna on 9/27/2016 —
Ekomi Review
Ekomi Review
“Working with Golden Financial Services is a pleasure. I have many credit cards and I needed to find a way to get these balances resolved. I gave them a call and they educated me on my options and I now have a payment plan that will have me...”
— by Customer on 10/12/2016 —
Yelp Review
Yelp Review
“Golden Financial Services is an excellent company that offers a solution to help pay off your debt with debt settlement and debt validation. Debt settlement and debt validation allows you to consolidate your debts and drastically reduce your monthly...”
— by Menila A. on 10/7/2014 —

What are my Debt Relief Options in San Diego for 2016?

Debt Settlement – San Diego

Debt Settlement (synonyms: debt arbitration, debt negotiation, and credit card settlement) – is a process that involves negotiating with creditors or third-party debt collection companies to reduce the balance owed on an unsecured debt after an individual goes delinquent on their payments – due to financial hardship in most cases. A typical debt settlement program requires the client to make monthly payments into a savings account (Trust Account) where the funds accumulate each month. When a sufficient amount is available to offer, as a one-time lump sum payment to one of their creditors, negotiations start. If the creditor and our client "mutually agree" to the reduced settlement offer, written confirmation is given to our client from the creditor, and the funds are immediately released and paid directly to the creditor.
In all cases, once the creditor agrees to the reduced amount (settlement amount) and confirms this in writing - the funds will get paid directly to the debt collection company from the client’s savings account, and the balance will reflect as "zero dollars owed."

Pros
  • Pay less than the full balance owed
  • Debt-free within 24-42 months on average
  • Get one single and affordable monthly payment
Cons
  • Potential creditor harassment
  • Results may vary
  • Negative impact on credit

Debt Consolidation – San Diego

Debt Consolidation (synonyms: debt consolidation loan, credit card consolidation and consolidated loan) – refers to a loan that is used to pay existing debt – then leaving the borrower with a single loan to pay back.
In most cases, these loans are used to pay off high-interest accounts – leaving the borrower with a single low-interest loan to pay back within a shortened time-frame.

Pros
  • No adverse impact on credit
  • Flexible terms
  • Have a single payment each month
  • Federal student loans qualify
Cons
  • Must pay entire loan amount back with interest
  • May not see a reduction in the monthly payment
  • Some debt consolidation companies charge high fees

Bankruptcy – San Diego

Bankruptcy (synonyms: Chapter 7 bankruptcy, Chapter 11 bankruptcy, Chapter 13 bankruptcy, Chapter 9 bankruptcy, Chapter 12 bankruptcy and Chapter 15 bankruptcy) – consumer bankruptcy refers to when a debtor files a petition with the bankruptcy courts.
Chapter 7 bankruptcy is used to discard a person’s debts in exchange for the attorney and court fees. Chapter 13 bankruptcy is used to reorganize debt payments to be more affordable based on a person’s disposable income and determined by the court-appointed judge.

Pros
  • Creditor harassment must stop
  • Debts could be wiped away (Chapter 7)
  • Entire process takes six months or less
Cons
  • A small percentage of bankruptcy applicants will qualify for Chapter 7
  • Long-term adverse effect on credit (7+ Years) – for all bankruptcies
  • Shows up on public records
  • Could prevent a person from financing a new car, renting an apartment, refinancing their home and even getting a job
  • Monthly payments for around five years on average (Chapter 13)

Debt Validation – San Diego

Debt Validation – (synonyms: debt dispute, debt defense, and debt verification) – under the Fair Debt Collection Practices Act, the Credit Card Act and the Fair Credit Reporting Act – a consumer has the right to challenge or dispute an alleged debt and request written verification and validation of it from the debt collector.
Any law firm or third-party debt collection company must abide by these rules and provide the necessary documentation and accurate information to validate, verify and prove the validity of an alleged debt – and if they cannot the debt may become legally uncollectible. A legally uncollectible debt is one that you don't have to pay, and it cannot legally be reported to the credit reporting agencies.

Pros
  • Can be the least expensive option
  • Disputes accounts that may not be legally collectible
  • Uses consumer laws to deal with unverifiable debts
Cons
  • Not all accounts will be eligible
  • Accounts must be with a third-party debt collection company before disputing
  • Potential creditor harassment could occur up to the time a debt is disputed
We look forward to explaining your debt relief options to you – and helping you to become debt free. Call 1-866-376-9846 to Speak to a Debt Expert at the Golden Financial Services San Diego Debt Relief Office.
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