Elite Financial Services
Overall Satisfaction Rating
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Based on 27 reviews that contain star ratingsSHOW RATING DISTRIBUTION
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    Elite Financial Services

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    Elite Financial Services is a debt settlement company that has helped thousands of consumers. They work hard to provide clients with the highest level of savings possible in the shortest amount of time. Staff professionals will take the weight off your shoulders and regain control of your future. Elite Financial Services will not charge you a fee until settlements are reached.

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    Last updated: Feb. 3, 2018

    27 Elite Financial Services Consumer Reviews and Complaints

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    Verified Reviewer
    Original review: Feb. 3, 2018

    They have had my cards since 2012 and paid off three in 1 year. Now I don't hear from them. They never get in touch with me to even update me on anything. And they still have 4 of them. Every time I call them which is once in a blue moon all I hear is they not settling. Well that's what I thought they were suppose to do is to make a settlement and I don't think that's happening. When I signed up with this company, the guy that was working with me said they all would be paid off in 3 years. Well while he was there 3 of them got paid off and now that he has been gone and no longer works there none has been paid off. And I think they dragging their feet. I pay 150.00 a month and getting tired of it. An account number is something I never got.

    Elite Financial Services response

    EFS believes this consumer has mistaken us for another company as we do not have any clients paying the $150.00 per month. Our program requires a minimum monthly amount of $250.00 to be successful. We ask that this unverified review be removed from our profile.

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    Verified Reviewer
    Original review: Nov. 7, 2017

    Initially, I was pleased with Elite and was excited to be on a plan to end my credit card debt. My upset came toward the end of my settlement. I was called by a representative who offered me a settlement if I could come up with an additional 1060, over and above my monthly payment of $468. This was difficult, and I had done this 2 previous times. I clearly asked how making this additional payment would affect my agreement. I was given a date that would be my last payment. This sounded good to me so I agreed, on a recorded line, and made the 1060 payment. My last payment came out on the date we had agreed to and I was curious how the account is closed out, so I gave a call.

    Imagine my surprise when they told me that the original date was wrong and would need to pay $468 for an additional 3 more months. I insisted that an error had been made as I took careful notes of our conversations. I requested a call back from the person, by name, who had given me my ending date... NOTHING! Two weeks passed and still no communication returned from this company! Finally, I was able to reach this person who politely told me she had made a mistake, and someone should have called me months ago. I explained that I entered into a verbal agreement and was promised my payments would end on a given date. I simply ask them to keep their promise to me. They kept referring to it as “an honest mistake.” When I asked to speak to someone higher up, the manager got on the phone and said to me, “ Let me ask you, are you perfect? Have you never made a mistake?” I was appalled!

    I asked them, again, to simply honor the agreement they made with me on a recorded line, and they refused! I am still feeling I have not finished with this. At this point, I could never recommend this company. I have never missed one payment and even paid extra 3 different times. For this company to not uphold their agreement tells me exactly what type of business you are dealing with. It feels criminal. Hard lesson learned. Should this company make this situation right, going forward, I will gladly post that. As of now, they are continuing to refuse to honor the agreement they made with me, after I made my additional payment per the agreement, as well as subsequent monthly payments, per the agreement made on their recorded line!

    UPDATE ON 11/16/2017: My dealings with this company continue. First, let me make very clear this is NOT a company you should be dealing with. Allow me to explain... I am continuing to attempt to have this company uphold an agreement made on a recorded line on July 20th which stated my program would be complete in October. I have been told by 2 separate people, one being the general manager, that they had made honest mistakes but would not honor an agreement that we made on a recorded line. In frustration I begged the manager to relisten to the recorded line and call me back. Nearly 2 weeks later, and after many attempts to reach this manager, a person filling in for the general manager calls me back to explain that she listened to the calls in question and I am the one mistaken!

    I requested to also rehear the lines as my hand-written notes had indicated otherwise. Very reasonably, I requested to take this higher with my request to also hear that call so that if I was mistaken, I may acknowledge my mistake.... You guessed it! They are refusing to allow me to hear this call, which they claim would support their position. Also, they requested that I would sign a resolution agreement that would require me to stop posting negative reviews regarding their practices. For signing this, they would waive $271.00 of their fees but I would still owe 838.70 to pay off my program! (which they told me originally would be done with my Octobers payment). I told them I would prefer to pay their $271 fee and keep my integrity and the right to warn others of the wrong practices of this company. Please heed my advice! Beware!

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    8 people found this review helpful
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    Verified Reviewer
    Original review: May 4, 2017

    My program was wonderful and everything went very smoothly. I was extremely happy with the results and the amount of money I was able to save. My representative Jennifer was always very helpful and always took the time to help me with any concerns I had. If ever in this situation again I would not think twice about enrolling again.

    5 people found this review helpful
    Verified Reviewer
    Original review: Jan. 29, 2017

    When I contacted Elite Financial Services, they told me about how I can pay all my debts. Usually whenever there was something new or any offers, arrangement or settlement, they will contact me. They used to deposit the amount into an account but I never had access to it so I never knew how everything was being paid. They would only send me a paper stating they've already closed the account. Lately they sent me two and a final paper saying "the credit card’s debt should have been updated and you’re credible for now."

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    Verified Reviewer
    Original review: Jan. 22, 2017

    Elite Financial is a good company and I checked them out, too, so they're not a fly-by-night group. They were able to handle the financial problem that I had. I worked with Donna who was very thorough, businesslike and if she told a person something, that person could believe it. Since working with the company, I only have one credit card now and my financial situation has been very good and less stressed.

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    Verified Reviewer
    Original review: Jan. 19, 2017

    The team members at Elite Financial were very courteous at first when I first phoned them. I got in touch with John and we were able to make arrangements and he was prompt. We spoke in December and I had to get back to him in January and when I did, he was ready for me. And all the different staff were creative. As soon as somebody else took over my case, they called and informed me. And they were able to lower not just the interest rate but the payment as well. Working with them gave me peace of mind. Instead of having to pay every balance, they took one payment and took care of everything.

    Elite Financial was able to help with getting me cleared of debts. It was their affair and they took care of it. Then they'd let me know if there were changes and how they were going to deal with it. So I was able to work along with that change. They really did a good job. I was hoping to recommend someone because she asked me how Elite Financial did it but she's still in college.

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    Verified Reviewer
    Original review: Jan. 13, 2017

    When Elite Financial Services first started with all of the items I wanted to fix, I compared them with State Employees’ Credit Union rates and theirs were much better, so I stuck with them. They held true to their word. They gave a timeline on when I should be ready to be done with the program. We met that timeline and they're very accommodating. They did a great job with lowering my interest rates and their customer service was very pleasant and easy to talk to. I haven't tried to do anything with my credit yet but I believe they’ve done a wonderful job. I mentioned them to some of my friends who were in similar situations.

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    Verified Reviewer
    Original review: Jan. 11, 2017

    Back in January 2016 a rep from Elite Financial called me and said that Sears was willing to settle for a certain amount. At that time, the holidays had just went and I had spent most of my money for Christmas. I told her I didn't have it, but could the company pay it and add it into my account and she told me, "No, you got to come up with $800." Within a matter of a week, it went from $800 to $1,400 and kept going up each week. It had went up to almost $2,200. What came about was that they reacted to Sears late and Sears threw a judgment against me and I was pissed about that.

    And then finally, five months later, the supervisor of the account called me and said, "Look. If you can come up with $1500, we can get Sears taken care of." I told him that should have took place back in January because I’m pissed because this judgment is against me. I was able to come up with $1,500 and he assured me that it would be paid off. I got a letter in the mail in December that the Sears had lifted the judgment against me and that was cleared up. But that really messed up my credit even more by that judgment being against me.

    Some of the agents were very customer service-like and they worked with me, especially Donna in the beginning. But overall it wasn't a great experience. At first I didn't understand their system. They would get the credit card people to narrow down what you owe them, for instance $5000. They'd get them to settle for $1,700 and they expect me to come up with that type of money. I have yet to understand I'm paying $394 a month but then at the same time the company expects me to pull out $1,500, $800, or $1,200? That was a hardship because I'm trying to get rid of the credit cards. I wasn't trying to pull money out of a hat trying to pay this and that off. All the other accounts were taken care of and there was no problem, but I really don’t think I would use them again.

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    7 people found this review helpful
    Verified Reviewer
    Original review: Jan. 9, 2017

    I was trying to pay my payments but it was lacking so I sought help from Elite Financial Services. I'm finished with the program but there was a month that I needed help and nobody cared. I've been making my payments on time the whole time and I asked to defer one month for Christmas but that wasn’t even an option. It's one thing if one has not made their payments on time for 14 months but there needs to be a process where if one has been doing their payments and they need a month because there's a problem, that should be understood.

    Elite Financial Services response

    Clients are allowed, at any time, to skip a monthlypayment with proper notice. However, if skipping that payment would cause an existing settlement to be voided, we strongly encourage our clients to keep the scheduled payment. In this particular case, our client was actively involved in a term settlement on an exceptional deal. We negotiated a 20% settlement offer that saved the client nearly $13,000 on a balance of $16,228.17. Considering the December payment was necessary to keep this tremendous settlement in good standing, we explained it was in their best interest to make the December payment and not void the settlement.

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    Verified Reviewer
    Original review: Nov. 22, 2016

    Elite Financial Services was working on my credit card debts. All our interactions were done via email. Before going with them, I was just making my monthly payments. They were supposed to consolidate all my credit card debts and pay them off. Although they had already paid off some of my debts, on the credit report, some of my debts are still not paid and my credit score hasn't improved yet.

    3 people found this review helpful
    Verified Reviewer
    Original review: Nov. 16, 2016

    I was trying to get out of debt. I tried to do it on my own but it's just a struggle, I just wouldn't make any success out of it. That's what made me move to something different - I tried Elite Financial Services. Everything went really well but it seemed like our back and forth with each other over the internet, keeping me informed, was prolonged. It took 5 or 6 months to get the process taken care of. And sometimes we'd have internet connection, sometimes not.

    Still, they got some of the interest rates dropped and even cut some of the payments down. When they did that, I just paid the difference up from that point. It helped quite a bit with my financial situation. It dropped some indebtedness which I otherwise would never get ahead of by trying to pay the minimum due of a credit card or a high-interest loan. Elite stepped in and made it basically affordable to get out from underneath the debt.

    I don't plan on getting in that situation again. A lot of times people get on those situations when they have a credit card and abuse their credit. The next thing they know, it's way over their head. My philosophy now is to consider if it is a want issue or a need issue. Also, I now see the struggle of taking two or three years just to get by and try to get out of debt. It's not worth the hassle and now, I'm not really excited about being in debt.

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    Verified Reviewer
    Original review: Oct. 2, 2016

    I called up Elite Financial to find out exactly what it was that they could do for me and I liked what I heard. They sent me legal documents via email, I had it looked out, and it was on the up and up from the get-go and it's really hard to find companies that do that these days. They helped me get out of a bind I was in with the creditors that I had and it's almost done. I make the last payment in November and I'm so pleased that I'm going to be out of debt. So they were great. I dealt with a gentleman named Bob but somewhere along the line he switched my account over to this girl. I've only talked to her a couple times and she kind of put me off. I didn't really care for her. But Bob kept me abreast of everything that was going on and helped me get signed up and the whole nine yards.

    They took over the account and I didn't have to deal with the credit cards at all. They dealt with them and went through a company called Global Finance who I make payments to every month. Then they had a part of the credit card bill written off and paid the rest of it with the money that I had been putting into the account. I had to pay a certain amount each month and the closer that it got, I was able to pay more than I had at the very beginning so we were able to get it paid off. It was a little over three years old and it was a lot. I would recommend them to anybody having the same problem that I was having.

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    Verified Reviewer
    Original review: Sept. 29, 2016

    The Elite Financial staff was very professional, knowledgeable, and helped me out a lot. But I didn't really get the whole gist of getting a debt settlement company as opposed to a debt management company. I thought they were the same because it kind of took me a while to get used to bills having to go on to the negative before they would actually pay it out and there were a lot of credits that wouldn’t work. I never was used to that before and it's the only thing I didn’t like. But Elite still worked them out. I still have some bills to pay but I had one major deal I got paid off.

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    Verified Reviewer
    Original review: Sept. 25, 2016

    It was a little overwhelming when I discovered the amount of money we were going to pay Elite Financial Services and I tried to back out of the deal. Everything got heated up, but I was the one at fault and we worked it out. There was one person that worked there that got real smart with me one time but I called back, talked to his boss and it was resolved. We completed the program and are now out of credit card debt, except for one bill that I did not include in that deal. However, I need to research whether they sent me the documents they were supposed to send me at the end of it stating that they'll let the credit bureau know. I'm glad it's behind me and that avenue was there and that it fell on my lap when I was really seeking help because we were over our head big time. We had a few ups and downs, but basically it was a good experience.

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    Verified Reviewer
    Original review: Sept. 18, 2016

    The reps from Elite Financial Services have been very, very wonderful and they helped me out a lot. They’re lovely. I was in a four-year program and I’m almost done. I did it in three years.

    2 people found this review helpful
    Verified Reviewer
    Original review: Aug. 27, 2016

    I was making the payments for my debt as best I could, but after the divorce it got to be a mess. Elite Financial was very helpful and they worked with me to get everything done, paid off, and taken care of. They were able to reduce the amounts owed and got it down into an area where I could handle the payments. I had a very positive experience with them and they were able to provide the services that I needed.

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    Verified Reviewer
    Original review: Aug. 20, 2016

    Elite Financial Services has been very helpful. They helped me pay off my credit cards and my credit is good right now. Elite is the only credit card resource I've used. I talked to them and they talked to the credit card people. They came back and told me what I can do. I agreed with it and did it. Their team is wonderful, very helpful, and nice. It was a great experience and I'm glad it happened and that I'm better.

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    Verified Reviewer
    Original review: Aug. 14, 2016

    I sold almost everything except my house, but it still wasn't enough, so I went with Elite Financial Services. I talked to them on the phone and I did get changed around to two or three different people to service our account during the time we were with them, but they were all nice to us. We settled some debt with them with most of our accounts, except for one credit card. Everything else was taken care of by them. They helped us to get through the process and they let us know not to get buried anymore. We're more frugal about buying any big ticket item and we really make sure we're ready before we do it. So overall, we're happy with our experience with Elite.

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    Verified Reviewer
    Original review: Aug. 3, 2016

    My experience with Elite Financial Services was very good. Everybody that I talked with was very nice and helpful. Since working with them, I got rid of all those credit card with big interests. Now I can get me one and manage it myself.

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    Verified Reviewer
    Original review: Aug. 1, 2016

    I had credit card debt several years ago and I had Elite take over it. They lowered my interest rates from what I owed and I only had to pay them instead of making several payments. They got me out of my credit card debt and it felt fantastic.

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    Verified Reviewer
    Original review: July 30, 2016

    I called all my creditors and they wouldn't lower the APR, so I used Elite Financial and they got me out of debt within a year and a half. They answered me right away as soon as I emailed them. They have gotten a lot of my credit cards paid off and I only have three left out of eight. I pay $400 and some a month and they've been real good about getting all the settlements done except one of my cards that didn't accept the settlement.

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    Verified Reviewer
    Original review: July 20, 2016

    I was looking online for a reputable financial company and I saw Elite. I directly went to them as I wasn’t fully knowledgeable about other options. My interaction with their team was good and very professional. Only in the last half of our term were they unreachable. I had been calling to resolve an issue but eventually it got resolved. They were good. Elite has helped me to keep on-track. However I didn't stay with them until I totally paid up because I found out another solution. I have opted for that and just closed down everything.

    3 people found this review helpful
    Verified Reviewer
    Original review: July 16, 2016

    I tried paying my debt on my own and then I decided to use Elite Financial. I got a deal from them and it worked out alright. They called, talked to me a bit, and it was good. We got just about all of the stuff paid off until the very end. However, I was tricked into paying this one by another company and we ended up paying it. But other than that, Elite did really good. There were no dislikes at all.

    3 people found this review helpful
    Verified Reviewer
    Original review: July 14, 2016

    I am out of debt and I feel relieved. The team at Elite Financial always took my calls and answered any of my questions. If the rep could not answer it, she would find the answer and get back to me. She was excellent from the beginning to the very end. It’s an embarrassing situation to be into and she never gave me the impression that she was looking down at me. She showed empathy, and I appreciate it.

    2 people found this review helpful
    Verified Reviewer
    Original review: July 13, 2016

    I tried to pay off my debt and that’s always a slow process so I was at the point where something has got to be done. When I talked to Elite about it, they said someone would be calling me back. Donna called me back and she was a jewel. She walked me through the process, told me what my options would be and we set the payment plan. As soon as they found another way to lessen it or if I could pay more and get it paid, she let me know. They are people who cared about me. They didn’t know me personally except for talking to me on the phone and emailing me but it was like a one-on-one relationship where anyone who called were always very friendly, introduced themselves, told me who they were and what they were calling for.

    Since working with Elite, I have begun to budget better. I know why I got into debt and knew I had to get out of it. It was risky because I was concerned about my credit and once we paid it off, I knew we had to update the credit report. It has gone up by 16 points and I’m getting where I need to be and plan to stay. It has been a great experience and I would recommend them to anyone. I pray I never need them again, but at least I know if by some chance I did, I could use them.

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    2 people found this review helpful
    Verified Reviewer
    Original review: July 12, 2016

    I lost my job and was just trying to make the minimum payments on the credit cards. It was getting overwhelming because it was almost $30,000. I learned about Elite Financial through the internet, called them and they told me different plans I could do and took it. I dealt with Jennifer all the time. She was really great. She worked out different payments for the creditors and would always call me and say, “Hey, you want to do this? Want to do that?” We would do three at a time to get the debt down. So she did really good and I really liked her. If I text her or called her, she called me right back. She always kept in touch with me. I paid my account off and it was really good. Having that debt off of me and actually paying through cash has changed everything. I

    4 people found this review helpful
    Verified Reviewer
    Original review: July 3, 2016

    I’m on a very fixed income and I’m retired and then all of a sudden I was really facing some major concerns. I received an advertisement about Elite in the mail and called the number and the man was absolutely wonderful to me. After I signed up, their manager called me immediately and I appreciate it so much. However, I haven’t had enough evidence to show what’s been paid. Their rep said she sent it to my email but I don't have an email. This has been months ago. She then said she would send it to me in the mail. I still haven’t received it and so when I talked to her the other day, I reminded her of that and she said she would resend it to me but I still haven’t received it. That would be my biggest concern. Nevertheless, the experience was nothing but a relief to me. They’ve done a really nice job.

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    Elite Financial Services expert review by Barbara Friedberg

    Elite Financial Services is a debt settlement company that can help consumers eliminate debt in as little as 12 months. They only charge consumers a fee once they have successfully settled their debts, which can ease the financial burden of debt settlement.

    • Educational programs: Elite’s website has three educational programs that are available as free resources for anyone, including people who are not clients. These programs are designed to educate consumers about debt and money management.

    • No pre-payment penalties: Elite does not charge penalties for getting out of debt sooner than expected. Clients can pay more than their regularly scheduled payment to get out of debt faster without consequences.

    • Free consultation: Prospective clients can schedule a free consultation with a debt settlement professional to discuss debt settlement options before deciding to enroll in Elite’s debt settlement program.

    • No upfront fees: Elite does not charge service fees until they are able to settle your debt. Once they settle one of your enrolled accounts, you will pay only the fees associated with that account. These fees are included in the monthly program deposit amounts.

    • Choose the length of your program: Elite doesn’t impose a specific length of time on their program. You will work with your debt settlement advisor to determine a length of time that allows for easy payments.

    • Best for: consumers who want to set up a personalized debt settlement plan.

    Profile picture of Barbara Friedberg
    Barbara Friedberg

    Personal Finance Contributing Editor

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    Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

    Elite Financial Services Company Information

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    Company Name:
    Elite Financial Services
    Company Type:
    Year Founded:
    Formerly Named:
    Elite Financial Services
    100 Cummings Center Suite 141A
    Postal Code:
    United States

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