First Choice Debt Relief
Sep 05, 2022 By Susan Kelly

Like many other debt relief firms, it helps clients get out of debt through a debt settlement strategy. Although debt settlement comes with risks, such as damage to credit scores, it can help clients settle their debts for less than what they owe. Debt settlement is different from credit counseling or debt management plans. Participants must stop paying their bills and start saving a certain amount each month. First Choice Debt Relief will use your cash reserves to pay creditors and eliminate all debts, principal, and interest.

First Choice Debt Relief does not disclose the amount of its fees upfront. However, they claim that their average client reduces their debt by 50% before fees and 25%-35% with fees. The program takes 24 to 48 months to pay down debt. However, some clients can get rid of their debt quicker. First Choice provides a free consultation to help you get started on your debt settlement plan.

Types of Debt Addressed

It provides debt settlement. This is a strategy to help you pay off your unsecured debts. Unsecured debts are any debts that you don't have collateral to secure. You may be able to settle the following unsecured debts:

Credit card debt

Credit card debt is the most commonly bundled in debt settlement plans. It can help you eliminate and pay off credit card debt for less than what you owe.

Personal Loans and Lines of Credit

If they aren't secured by collateral, personal loans and lines of credit from a bank can be used to settle debts.

Payday loans

It can be extremely problematic due to the high-interest rates. This type of debt can be combined into debt settlement programs.

Client Onboarding

It offers a free consultation without any obligation to sign up for one of its plans. This call is a chance for you to share your current situation and answer any questions. Your debt resolution specialist will review your debts and help determine if settlement is right for you. First Choice will help you create a comprehensive plan to get out of debt within 24 to 48 hours if you choose to move forward. Remember that fees are only charged for each debt you settle.

Customer Service

First Choice Debt Relief offers a number of services that will help you navigate the laws, such as the Fair Credit Billing Act and the Fair Credit Reporting Act. As you try to settle your debts for less than what you owe, you have the opportunity to ask questions and receive answers. The online client portal provided by First Choice Debt Relief is one of the company's most notable features. This portal allows you to check your plan online at any time of the day or night. You may also contact First Choice by emailing them or over the phone.

Company Reputation

You should be aware that many scammers and predatory businesses exist in the debt relief industry. There are many ways to research debt relief businesses to determine which ones are trustworthy and which ones to avoid. Check the CFPB database to find complaints. Although this is a great starting point, some companies choose not to participate in the CFPB program. You should check with the Federal Trade Commission to ensure that any debt relief company you are considering isn't under investigation or facing a lawsuit.

These searches are for First Choice Debt Relief. You'll see that they haven't had any complaints to the CFPB in the past three years. The FTC has not filed any lawsuits against them. First Choice Debt Relief also has a lot of positive reviews. Trustpilot has a lot of great reviews, with an average rating of 4.9 stars.

Cost

It charges 15% - 25% of your enrolled debt. First Choice Debt Relief is not the best company. You should compare it to other companies. Both companies offer debt relief services. However, First Choice has an online client dashboard. Greenwise Debt Relief doesn't. Greenwise discloses fees ranging from 18% to 25 percent of settled debts in advance. We believe First Choice Debt Relief offers better debt relief because their fees are less, and they have greater client access.

Average Time for Relief

You could be out of debt in as little as 24 to 48 months if you work with First Choice Debt Relief and their debt settlement plan. This schedule is on pace with the typical timeframe for this kind of work. Also, remember that First Choice claims some of its customers have been able to eliminate their debt quicker than the national average.

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