Start My Answer

What is First Investors Financial Services?

Dena Standley | April 05, 2023

Not sure how First Investors Financial Services works? Let us explain.

Summary: First Investors Financial Services has helped thousands of consumers own a car with their favorable loan terms. However, some consumers have had bad experiences with them after defaulting on the loan. Learn more about FIFS and what to do when you are in debt with them. If you're being sued for debt, you can settle the debt for less with the help of SoloSettle.

First Investors Financial Services (FIFS) is a third-party auto loan company in Atlanta, Georgia. It offers automobile loans and leases to consumers looking to purchase or lease a car. The company works with various automobile dealerships across America, providing loans for both new and used vehicles.

FIFS was founded in 1988 as Stellantis Financial Services, incorporated in 1994, and established its Better Business Bureau profile in 2008. In addition to auto loans, FIFS offers its customers personal loans and insurance products. They boast of being easy to do business with because of their favorable repayment plan and various payment methods.

Despite its successful business model, consumers have complained on multiple platforms regarding their services. Today, SoloSuit will explore the concerns raised and give you more information on FIFS and action you can take if you owe them.

If you're being sued by FIFS for a debt you owe, use SoloSettle to settle the debt once and for all.

Settle with SoloSettle

Make an Offer

How does First Investors Financial Services work

FIFS work entails giving you the loan and following up through their debt collection department to ensure you pay the debt in full. The entire process generally follows these steps:

  1. Apply for the loan: You apply for the auto loan through the FIFS website or the automobile dealership of your choice. The process entails providing your personal and financial information, including your credit score and employment history.

  2. Loan approval: FIFS reviews the application and determines if you meet its lending criteria. For example, you must have a credit score of 510 and above. Once approved, they’ll send information on the loan terms.

  3. Loan issuing: FIFS will disburse the loan to you or the automobile dealership after you sign the documents.

  4. Repayment: You must begin repaying the loan from the first month until completion. FIFS expects you to honor the loan agreement without fail.

  5. Debt collection: If you fail to make payments for over a month, your account goes into collection. Consequently, you'll start receiving calls or emails from their debt collectors.

Complaints against First Investors Financial Services

Despite an A+ rating on their BBB profile, FIFS has gathered tens of complaints from consumers dissatisfied with their services. For example, they have 31 complaints on their BBB profile and 110 complaints on their Consumer Financial Protection Bureau (CFPB) database. The following is an example from the CFPB database:

“I have an existing car loan through First Investors. Previously I had some late payments on my account, and when I called them to resolve the issue, they recommended I sign up for their Fresh Start program. The agent told me that after completing four on-time payments, my account would be brought current, and all late payments would be removed from my credit file as a courtesy. This has not been done. I completed the Fresh Start program at the beginning of 2023 and still show late payments on my credit report. I emailed First Investors several times and have not had a resolution. They keep attaching my agreement, which mentions nothing about late payments.”

Other complaints reported include talking to unprofessional agents, receiving multiple calls daily, refusing to verify the debt on request, and failing to update recent payments. Report FIFS to BBB, CFPB, and your attorney general's office.

Take action if in debt with First Investors Financial Services

Consumers sometimes feel helpless when large collection agencies aggressively follow up on their debt. Luckily, you can take action to stop debt collectors. The following are three tips you can use to get rid of FIFS:

  • Send a Debt Validation Letter: This requires FIFS to send a detailed response, breaking down your debt information. They will be breaking the law if they call without verifying the debt in written form.

  • Respond to the lawsuit: If FIFS sues you, do not panic. Respond to the court Summons and Complaint with a written Answer document, outlining your defenses.

  • Settle the debt: Offer to settle the debt with a one-time, lump-sum payment. SoloSettle can help you send and receive settlement offers until you reach an agreement with FIFS. Watch the following informative video to learn more.

SoloSuit can help

If you’re feeling overwhelmed by debt, SoloSuit can assist you in handling debt collectors at any stage of the collection process. Whether it is stopping their calls, responding to the lawsuit, forcing a debt collection case out of court, or settling the debt, SoloSuit will help you deal with your debt situation.

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to answer a summons for debt collection in your state

Here's a list of guides for other states.

All 50 states.

Guides on how to beat every debt collector

Being sued by a different debt collector? Were making guides on how to beat each one.

We have answers

Join our community of over 40,000 people.

You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now are are just look for support, we're here for you.

Get Started

Win against credit card companies

Is your credit card company suing you? Learn how you can beat each one.

Going to Court for Credit Card Debt — Key Tips

How to Negotiate Credit Card Debts

How to Settle a Credit Card Debt Lawsuit — Ultimate Guide

Get answers to these FAQs

Need more info on statutes of limitations? Read our 50-state guide.

Why do debt collectors block their phone numbers?

How long do debt collectors take to respond to debt validation letters?

What are the biggest debt collector companies in the US?

Is Zombie Debt Still a Problem in 2019?

SoloSuit FAQ

If a car is repossessed, do I still owe the debt?

Is Portfolio Recovery Associates Legit?

Is There a Judgment Against Me Without my Knowledge?

Should I File Bankruptcy Before or After a Judgment?

What is a default judgment?— What do I do?

Summoned to Court for Medical Bills — What Do I Do?

What Happens If Someone Sues You and You Have No Money?

What Happens If You Never Answer Debt Collectors?

What Happens When a Debt Is Sold to a Collection Agency

What is a Stipulated Judgment?

What is the Deadline for a Defendants Answer to Avoid a Default Judgment?

Can a Judgement Creditor Take my Car?

Can I Settle a Debt After Being Served?

Can I Stop Wage Garnishment?

Can You Appeal a Default Judgement?

Do I Need a Debt Collection Defense Attorney?

Do I Need a Payday Loans Lawyer?

Do student loans go away after 7 years? — Student Loan Debt Guide

Am I Responsible for My Spouses Medical Debt?

Should I Marry Someone With Debt?

Can a Debt Collector Leave a Voicemail?

How Does Debt Assignment Work?

What Happens If a Defendant Does Not Pay a Judgment?

How Does Debt Assignment Work?

Can You Serve Someone with a Collections Lawsuit at Their Work?

What Is a Warrant in Debt?

How Many Times Can a Judgment be Renewed in Oklahoma?

Can an Eviction Be Reversed?

Does Debt Consolidation Have Risks?

What Happens If You Avoid Getting Served Court Papers?

Does Student Debt Die With You?

Can Debt Collectors Call You at Work in Texas?

How Much Do You Have to Be in Debt to File for Chapter 7?

What Is the Statute of Limitations on Debt in Washington?

How Long Does a Judgment Last?

Can Private Disability Payments Be Garnished?

Can Debt Collectors Call From Local Numbers?

Does the Fair Credit Reporting Act Work in Florida?

The Truth: Should You Never Pay a Debt Collection Agency?

Should You Communicate with a Debt Collector in Writing or by Telephone?

Do I Need a Debt Negotiator?

What Happens After a Motion for Default Is Filed?

Can a Process Server Leave a Summons Taped to My Door?

Learn More With These Additional Resources:

Need help managing your finances? Check out these resources.

How to Make a Debt Validation Letter - The Ultimate Guide

How to Make a Motion to Compel Arbitration Without an Attorney

How to Stop Wage Garnishment — Everything You Need to Know

How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)

Defending Yourself in Court Against a Debt Collector

Tips on you can to file an FDCPA lawsuit against a debt collection agency

Advice on how to answer a summons for debt collection.

Effective strategies for how to get back on track after a debt lawsuit

New Hampshire Statute of Limitations on Debt

Sample Cease and Desist Letter Against Debt Collectors

The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah

West Virginia Statute of Limitations on Debt

What debt collectors cannot do — FDCPA explained

Defending Yourself in Court Against Debt Collector

How to Liquidate Debt

Arkansas Statute of Limitations on Debt

Youre Drowning in Debt — Heres How to Swim

Help! Im Being Sued by My Debt Collector

How to Make a Motion to Vacate Judgment

How to Answer Summons for Debt Collection in Vermont

North Dakota Statute of Limitations on Debt

ClearPoint Debt Management Review

Indiana Statute of Limitations on Debt

Oregon Eviction Laws - What They Say

CuraDebt Debt Settlement Review

How to Write a Re-Aging Debt Letter

How to Appear in Court by Phone

How to Use the Doctrine of Unclean Hands

Debt Consolidation in Eugene, Oregon

Summoned to Court for Medical Bills? What to Do Next

How to Make a Debt Settlement Agreement

Received a 3-Day Eviction Notice? Heres What to Do

How to Answer a Lawsuit for Debt Collection

Tips for Leaving the Country With Unpaid Credit Card Debt

Kansas Statute of Limitations on Debt Collection

How to File in Small Claims Court in Iowa

How to File a Civil Answer in Kings County Supreme Court

Roseland Associates Debt Consolidation Review

How to Stop a Garnishment

Debt Eraser Review

Do Debt Collectors Ever Give Up?

Can They Garnish Your Wages for Credit Card Debt?

How Often Do Credit Card Companies Sue for Non-Payment?

How Long Does a Judgement Last?

​​How Long Before a Creditor Can Garnish Wages?

How to Beat a Bill Collector in Court

Not sued yet?

Use our Debt Validation Letter.

Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.

Let's Do It

It only takes 15 minutes.

And 50% of our customers' cases have been dismissed in the past.

"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather

Get Started