Elite Financial Services


in Debt Settlement Companies from Elite Financial Services Inc.

SuperMoney Net Recommendation Score +43


This product is mostly recommended by SuperMoney users with a score of +43, equating to 3.9 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly recommended

20 users recommend
3 users are unsure
7 users don't recommend
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Community Rating Mostly recommended
% of Debt Fee 15% - 25%
Minimum Debt Owed $10,000
Number of Reviews 30

Elite Financial Services Review

Elite Financial Services is a debt settlement company based in Beverly, MA. It offers debt relief services to borrowers in 21 states (and Washington, DC). Founded in 2007, it is a well-established company that has been in business for over 10 years.

Key Takeaways
  • Minimum debt balance of $10,000. Elite Financial Services only considers clients who have at least $10,000 in debt. This is a typical requirement for most debt settlement companies. However, it will also only settle individual accounts if they have a balance of $500 or more per account.
  • AFCC and IAPDA accredited. Elite Financial Services is a member of the American Fair Credit Council (AFCC), which is the largest trade association for the debt settlement industry. It also employs debt resolution specialists that have been trained and accredited by the International Association of Professional Debt Arbitrators (IAPDA).
  • Well-established firm. Elite Financial Services has been in business for 14 years.
  • Types of debt settled. Elite Financial Services will only settle unsecured debts. These include credit card accounts, personal loans, and payday loans.
  • Only available in some states. Elite Financial Services is only available in 21 states.
  • Offers in-house debt relief services. Some debt settlement companies act as intermediaries for larger firms. This company uses its own staff to handle debt settlement accounts.
Elite Financial Services Pros & Cons
Pros Cons
  • Lower than average fees
  • No monthly consultancy fee
  • Has IAPDA accredited debt specialists on staff
  • AFCC member
  • Debt relief services only available in 21 states
  • Only considers clients with a minimum debt balance of $10,000
  • Requires a minimum balance of $500 per account.
Elite Financial Services FAQ

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 and personal loans.

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 charges fees that range from 15% of the enrolled debt up to 25% 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 have a money back guarantee. Some debt settlement companies advertise a money-back guarantee that typically states you won't be charged until your debt is settled. However, it is illegal for debt settlement companies to charge upfront fees before an account is settled. So these guarantees offer little added value to consumers.

What is the minimum debt Elite Financial Services will consider?

Elite Financial Services will only consider customers with unsecured debt of $10,000 or more. Customers with less than $10,000 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 an accredited AFCC member.
  • Elite Financial Services is an IAPDA member.

Elite Financial Services Disclosure: Elite Financial Services (EFS) is a debt settlement company. EFS does not provide the following services: credit counseling, credit repair, legal advice, debt consolidation loans, tax services, account services, or loans. If you require legal advice seek the advice of a licensed attorney. EFS does not make regular monthly payments to a client’s creditors. EFS cannot guarantee that your debt will settle for any particular percentage within any particular time period. Individual results may vary. EFS services are not available in all states and the fees may vary from state to state due to individual state regulations. Information obtained through the completion of the form above will be used to contact potential consumers interested in debt settlement.
SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Elite Financial Services Inc.

Founded in 2007, Elite Financial Services is committed to helping people live debt free nationwide. Through our debt relief program, we have helped thousands of consumers eliminate their unsecured debts (i.e. credit cards, personal loans, retail store cards, and any collection items) in as little as 12-36 months!  Our team of IAPDA Certified Debt Specialists has the knowledge and experience to negotiate with your creditors to settle your debts quickly and efficiently. Debt relief is achievable.


We can help you reach your goals through three core beliefs: TRANSPARENCY (understanding each step of our process), SIMPLICITY (let us handle all the work), and SECURITY (trust that we will safeguard all of your information and stay current on all industry regulations). We’ve helped thousands of Americans achieve their goal of live debt free, and we look forward to helping you as well!


  • Headquarters
  •   100 Cummings Center, Suite 141A
    Beverly, MA 01915
  •   Visit Site

Hours of Operation

Eastern Time
  • Sunday Closed
  • Monday 6:00am - 3:00pm
  • Tuesday 6:00am - 3:00pm
  • Wednesday 8:00am - 5:00pm
  • Thursday 8:00am - 5:00pm
  • Friday 5:00am - 2:00pm
  • Saturday Closed

About Elite Financial Services

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View all debt settlement companies offered by Elite Financial Services Inc.


  Available in 21 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Washington, DC
  • Florida
  • Indiana
  • Louisiana
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Nebraska
  • New Mexico
  • New York
  • North Carolina
  • Oklahoma
  • South Dakota
  • Virginia
  • Wisconsin

Feature Breakdown

Monthly Fee $0
% of Debt Fee 15% - 25%
Debt Type Unsecured Debt
Minimum Debt per Account $500
Minimum Debt Owed $10,000
AFCC Member
Contingency Model
IAPDA Member
In-House Servicing

Elite Financial Services Community Reviews


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This product is mostly recommended by SuperMoney users with a score of +43, equating to 3.9 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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