Overview

Where does Elite Financial Services do business?

Elite Financial Services is a debt settlement company based in Beverly, MA. The company was founded in 2007 and offers debt relief services to borrowers in 19 states (and Washington, DC).

What does Elite Financial Services do?

Elite Financial Services offers debt relief services for the following types of debt:

• Unsecured debt, such as credit card debt, personal loans and medical debt

What does Elite Financial Services charge?

Elite Financial Services operates on a contingency fee basis. Companies operating under a contingency fee model charge fees that are based upon a percentage of the debt at the time the consumer enrolled; occasionally they are based on a percentage of the savings negotiated by the debt-settlement company. Across the industry in general, debt settlement clients typically see a 45% to 60% reduction of their enrolled debt. Elite Financial Services's fees start at 13% and go up to 23% of the enrolled debt depending on the amount of enrolled debt provided. Debt relief service pricing / costs can vary greatly from one client to another so it's best to speak to Elite Financial Services directly to determine an accurate quote. 

Does Elite Financial Services offer a guarantee?

No, Elite Financial Services does not offer a money back guarantee.

What is the minimum debt Elite Financial Services will consider?

Elite Financial Services will only consider customers with unsecured debt of $5000 or more. Customers with less than $5000 of unsecured debt may benefit from a debt consolidation loan or credit counseling services.

Does Elite Financial Services perform its own servicing in-house?

Yes, Elite Financial Services employs its own in-house servicing staff who manage the process and negotiate settlements on behalf of their customers.

What accreditations does Elite Financial Services have?

The two main trade associations in the debt relief services space are the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA). Elite Financial Services is not an accredited AFCC member. Elite Financial Services is an IAPDA member.