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   Exhibit 31.1

                      CHIEF EXECUTIVE OFFICER CERTIFICATION

   Required by Rules 13a-14 and 11d-14 under the Securities Exchange Act of
   1934, as amended I, Seth Cohen, certify that:

   1.  I have reviewed this quarterly report on Form 10-Q of Franklin Credit
       Management Corporation;

   2.  Based on my knowledge, this report does not contain any untrue statement
       of a material fact or omit to state a material fact necessary to make
       the statements made, in light of the circumstances under which such
       statements were made, not misleading with respect to the period covered
       by this report;

   3.  Based on my knowledge, the financial statements, and other financial
       information included in this report,fairly present in all material
       respects the  financial  condition, results of operations and cash flows
       of the registrant as of, and for, the periods presented in this report;

   4.  The registrant's other certifying officer(s) and I are responsible for
       establishing and maintaining disclosure controls and procedures (as
       defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the
       registrant and have:

       a.  Designed such disclosure controls and procedures, or caused such
           disclosure  controls and procedures to be designed under our
           supervision, to ensure that material information relating to the
           registrant, including its consolidated subsidiaries, is made known
           to us by others  within  those  entities,  particularly  during the
           period in which this report is being prepared;

       b.  Evaluated the effectiveness of the registrant's disclosure controls
           and  procedures  and presented in this report our conclusions about
           the effectiveness of the disclosure controls and procedures, as of
           the end of the period covered by this report based on such
           evaluation; and

       c.  Disclosed in this report any change in the  registrant's internal
           control over financial reporting that occurred during the
           registrant's most recent fiscal quarter that has materially
           affected, or is reasonably  likely to materially  affect, the
           registrant's internal control over financial reporting; and

   5.  The registrant's other certifying officer(s) and I have disclosed, based
       on our most recent evaluation of internal control over financial
       reporting,  to the  registrant's  auditors and the audit committee of
       the  registrant's board of directors (or persons performing the
       equivalent functions):

       a.  All significant deficiencies and material weaknesses in the design
           or operation of internal control over financial report which are
           reasonably likely to adversely affect the registrant's ability to
           record, process, summarize and report financial information; and

       b.  Any fraud, whether or not material, that involves management or
           other employees who have a significant role in the registrant's
           internal control over financial reporting.

   Date: May 14, 2004



   By:    /s/ Seth Cohen
              Seth Cohen
           -----------------------
           Chief Executive Officer