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                                                                    EXHIBIT 23.1

March 31, 2005

Deloitte & Touche LLP
Two World Financial Center
New York, NY 10281

The following representations, made to the best of our knowledge and belief, are
being provided to you in connection with your audit of Franklin Credit
Management Corp. and subsidiaries (the "Company") as to transactions and events
after December 31, 2004 and to the date of this letter, your audit having been
incorporated by reference in connection with a registration statement
(333-122677) on Form S-8 filed by the Company with the Securities and Exchange
Commission on April 7, 2005:

1.    The audited financial statements and schedules incorporated by reference
      in the registration statement present fairly the financial position,
      results of operations, and cash flows of the Company as of December 31,
      2004.

2.    The interim financial statements incorporated by reference in the
      registration statement are fair presentations of the information they
      purport to show and have been prepared on a basis substantially consistent
      with the audited financial statements included therein.

3.    No events have occurred subsequent to December 31, 2004 that have a
      material effect on the financial statements that are incorporated by
      reference in the registration statement or that should be disclosed in
      order to keep those statements from being misleading.

4.    The Company has made available to you (a) all financial records and
      related data that would have a bearing on the purpose of your review and
      (b) all minutes of the meetings of stockholders, directors, and committees
      of directors, or summaries of actions of recent meetings for which minutes
      have not yet been prepared.

5.    In connection with your audit of the Company's financial statements for
      the year ended December 31, 2004 we have previously provided
      representations to you dated March 31, 2005. No matters have since come to
      our attention that would cause us to believe that any of those
      representations are no longer true.

We understand, in connection with the filing of the above referenced
registration statement, that you have performed certain limited procedures only,
principally those called for by PCAOB Interim Standard AU 711, Filings Under
Federal Securities Statuses.

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_________________________________________________________
 Jeffrey Johnson, Chief Executive Officer of Franklin
 Credit Management Corp.

_________________________________________________________
 Alan Joseph, Chief Financial Officer of Franklin Credit
 Management Corp.

_________________________________________________________
 Kimberly Shaw, Vice President of Finance of Franklin
 Credit Management Corp.

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            CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in Registration Statement No.
333-122677 on Form S-8 of our report dated March 31, 2005, appearing in this
Annual Report on Form 10-K of Franklin Credit Management Corporation for the
year ended December 31, 2004.

DELOITTE & TOUCHE LLP

New York, New York
April 7, 2005