First Choice Credit Management review
Enroll with less than $5,000 in debt — but expect smaller savings.
Bottom line: First Choice Credit Management doesn’t have a full suite of industry accreditations, but it will work with people who have a limited amount of debt.
$4,000, but may vary by state
24 to 48 months
Average 25% fee based on enrolled debt
First Choice Credit Management details
|Free quote or consultation||Yes|
|Minimum debt||$4,000, but may vary by state|
|Typical turnaround||24 to 48 months|
|Direct or third-party negotiations||Direct|
|Fees||Average 25% fee based on enrolled debt|
|Types of debt||Unsecured debt|
|Free resources or tools||Credit repair|
|Customer service||Phone: 844-746-1692|
Mail: 1665 Palm Beach Lakes Blvd, Suite 800, West Palm Beach FL 33401
Email: Website content form
Hours: Monday through Friday from 9 a.m. to 6 p.m. ET
Other details. Not stated
Kellye Guinan is a seasoned financial writer with over 500 articles under her belt spanning all things loans from auto to personal to business and everything in between. With four years in the field and five years of research experience, she's able to make complex personal finance decisions easier for everyday people to tackle. When she's not up to her knees learning about the latest trends in lending, she spends her time improving her own financial literacy and expertise.
First Choice Credit Management doesn’t have much information available online, but its customer service team is glad to answer questions when you call. Unlike most debt settlement companies, it accepts customers with smaller amounts of debt.
However, it only has one industry accreditation and doesn’t boast high savings. In fact, it isn’t clear if its low 30% savings is before or after fees are deducted.
If you have a larger amount of debt, or want to get quotes before you enroll, compare more debt settlement companies.
How does First Choice Credit Management work?
First Choice Credit Management is a debt settlement company that negotiates with your creditors on your behalf. Like all debt settlement companies, it requires you to stop paying your bills and instead put that money into a trust account. But unlike most other services, it may also help you rebuild your credit at the end of the program, which may put you in a better financial position.
You can enroll with $4,000 of debt, and the debt settlement program lasts 24 to 48 months.
How much does it cost?
First Choice Credit Management charges enrollment fees, monthly fees and a settlement fee, which is a percentage of your enrolled debt. In most states, settlement fees are 25% and taken out of your monthly payment.
When I spoke to a customer service representative with an example debt of $6,000, she quoted me a monthly payment of around $175. This was based off waived enrollment and monthly fees — your monthly payment will vary based on your state and the amount of debt you have.
How much could I save with First Choice Credit Management?
Your total savings will depend on your creditors, but First Choice Credit Management states that its customers pay approximately 70% of their total debt — which means an average savings of 30%. It's not clear if this is before or after fees. Your debt counselor will be able to provide a more specific quote for your situation.
Is First Choice Credit Management legit?
It's also accredited by the American Fair Credit Council (AFCC), which helps regulate the debt relief industry. But it isn't accredited by another industry organization, the International Association of Professional Debt Arbitrators (IAPDA).
Pros and cons
First Choice Credit Management accepts smaller amounts of debt — but this may mean lower savings overall.
- Credit repair service included
- Accepts unsecured debts as low as $4,000
- Responsive customer service
- Low average savings of 30%
- Not accredited by the IAPDA or AFCC
- Not much information available online
Compare more debt relief options
First Choice Credit Management reviews and complaints
|BBB customer reviews||4.8 out of 5 stars, based on 24 customer reviews|
|Trustpilot Score||4.9 out of 5 stars, based on 705 customer reviews|
|Customer reviews verified as of||20 October 2020|
First Choice Credit Management earns solid ratings from its customers and only has a handful of complaints that have been resolved. Its reviewers praise the customer service, calling it helpful and caring.
What is First Choice Credit Management?
First Choice Credit Management has been in business for 11 years. It offers both debt settlement and credit repair. It also does business as Florida Debt Relief, but beyond that, there are no recent news stories or headlines — not bad for a debt settlement company.
How do I get started?
You can get started by calling First Choice Credit Management or by filling out its online form. A representative will reach out to you to discuss your current financial situation, your debt and your creditors.
I’ve signed up. What happens next?
A debt counselor will create a plan based on your debts. You will start putting monthly repayments into a savings account in your name, which will be drawn from when First Choice Credit Management reaches a settlement with a creditor. Keep in mind that you will need to stop paying your creditors and using your cards during the 24- to 48-month program. This could potentially put you at risk of collections and a lawsuit.
After you complete the program, First Choice Credit Management will work with you to start repairing your credit. It will dispute negative and derogatory info on your credit report, and may offer guidance to help you build your credit in other ways.
Before you sign up with First Choice Credit Management, consider comparing other debt relief options.