Family Credit Management (FCM) has been in debt consolidation for nearly 20 years, making them one of the oldest and most-trusted names in the industry. The company has made a reputation based on highly-qualified and certified credit counselors coupled with some of the lowest prices and best rates in the industry. Read our review from our debt consolidation industry expert, or scroll down to read Family Credit Management reviews from real customers.
- Free consultation over the phone with a certified debt counselor
- A+ rating with the BBB
- Setup cost up to $49 – about standard in the industry
- $8-35 monthly price – low for the industry
Family Credit Management has a lot of things going for it: low setup costs (up to $49), low monthly costs ($8 – $35), and competitive interest rates (below 10%). All of these things help their clients get out of debt faster. FCM offer certified credit counselors to work with clients step-by-step to get out of debt and stay out of debt.
The Company offers free 10-minute consultations and a money back guarantees to help ease any concerns and answer questions of prospective clientele. It is also worth noting that they company has a nationwide presence, licensed to help customers in all 50 states.
Customer reviews seem to emphasize how courteous and helpful the staff is, both during the free consultation and while working to pay off their debts. Others have expressed appreciation for the fact that working with Family Credit Management has helped them pay off their debts without damaging their credit scores.
We like this company’s approach when it comes to understanding the economic hardship of consumers inquiring about their services. They allow clients to choose a due date suiting their personal schedule and even allow some to cut the monthly payment into two monthly installments to help ensure program success.
Our review team had to look hard to find something worth complaining about with Family Credit Management. The only nitpick we could come up with is that although the company has some accreditations, it is not certified by the AICCCA or NFCC. These certifications usually serve to help show that a company knows what it’s doing and follows industry best practices.
- No AICCCA Accreditation
- No NFCC Accreditation
Varies per case, depending on an individuals situation, but a monthly fee range between $8-35 can be expected. It should not exceed $69 a month.
In order to enroll in the Debt Management Plan and receive their assistance in reducing the interest rates, monthly payments and total amount due, you will be charged a small monthly fee. This fee is calculated based on the amount of debt and the number of creditors which are included in the Debt Management Plan.
Monthly payments are arranged through an automatic debit from your checking or savings account of the amount needed to pay your creditors plus the monthly service fee.
Up front costs vary state-by-state. Should not exceed $49.
Yes, they offer free consultations.
Time In Business
Family Credit Management Services opened its doors in Chicago in 1996 and has been serving its customers during the past 19 years.
Family Credit Management is accredited by the Better Business Bureau and has received the highest rating possible. Some of the reasons that this company rates so highly with the BBB include: the length of time that this company has been providing services, the low volume of complaints against this company and the resolution and responses to the few complaints that have been received by the Better Business Bureau.
They have a robust blog with numerous articles that are practical and can help anyone (not only their clients) get a handle on their family budget and spending habits. These are posted on Twitter and Facebook for their friends and followers. Additionally, there are several short, yet informative videos featured on a YouTube channel managed by Family Credit Management.
Unsecured vs. Secured Loans
As with most debt assistance programs, they work with unsecured debts. These include credit cards, store credit accounts, medical bills, etc. Mortgages, car loans and student loans are not eligible for the debt management Program.
Yes. The website for Family Credit Management is optimized for mobile use and is easily navigated on a mobile device.
Family Credit Management does not require that you sign a contract. If you are unhappy with their services, you simply cancel their program and stop paying the monthly fees.
You can contact them via their contact page.
Family Credit Management
111 N. Wabash
Chicago, IL 60602
Monday – 8:30am – 9:00pm
Tuesday – Thursday – 8:30am-7:00pm
Friday – 8:30am-5:00pm
All times listed are done so as Central time zone
Types of Services Available
Family Credit Management offers credit counseling services, debt management and more. They help you to enroll in their Debt Management Plan and work to lower your interest rate and monthly payments to your creditors. For a monthly fee, plus your plan payment, they disburse these funds to your creditors. Rather than a debt settlement plan, your credit rating doesn’t take a plunge. These programs also show your creditors (past, present and future) that you are working to pay off what you legally owe and are serious about taking responsibility for your debt.
Minimum Debt Accepted
No minimum required.
Customers are given access to a personalized account manager through the Family Credit Management website. Account holders are able to view past statements and have the ability to make payments through the online dashboard.
Family Credit Management debt counselors are not CPFC certified, but are certified through the Center for Financial Certification (CFC).
Family Credit Management is ISO 9001 certified. They follow the highest standards of service in the credit counseling services industry.
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