DMB Financial Review

Types of Debt Covered By DMB Financial 

DMB Financial specializes in unsecured debt, which is not tied to any type of collateral such as:

• Credit Card Debt: According to the most recent data, the average household credit card debt tops $8,000.It’s no surprise this is the most common type of debt DMB Financial works to settle.
• Medical Bills: Whether or not you have health insurance, out-of-pocket costs from medical bills can add to your debt load. DMB Financial may negotiate with doctor’s offices, hospitals, and other healthcare providers to help you pay less than you owe.
• Personal Loans: While personal loans from banks, credit unions, and online lenders offer an easy, convenient way to borrow money for virtually any expense, these products can be expensive, especially if you don’t have the best credit. DMB Financial is well-versed in settling personal loans.
• Payday Loans: Payday loans are short-term, small-dollar loans you pay back when you get your next paycheck, usually within two to four weeks. Most of them come with sky-high interest rates and exorbitant fees. DMB Financial knows how to negotiate with payday loan lenders to alleviate some of their burden.

DMB Financial Service Features

• Breadth of Services Offering: Some debt relief companies offer a long list of services in addition to debt settlement, like credit counseling, debt consolidation, and tax relief. DMB Financial, however, only specializes in debt settlement programs. The good news is it offers a free, no-obligation consultation that can give you a better idea of whether you’d like to work with them. 
• Extent of Geographic Presence: Unfortunately, DMB Financial doesn’t serve clients in every state. You’ll need to book a consultation to find out if you live in a qualifying state as these states are not listed on the website. 
• Minimum Debt: Most debt settlement companies work with clients who owe a minimum amount of unsecured debt, like $7,500 or $10,000, for example. DMB Financial doesn’t disclose its minimum debt requirements. 
• Average Time for Relief: DMB Financial states that on average, clients complete its debt settlement program in 36 months. This is a fairly long time frame as other debt-relief companies alleviate debt in about 12 to 24 months. 
• Average Relief Amount: It’s unclear how much debt DMB Financial typically relieves as the company doesn’t list any figures online. 

  Breadth of Services Offering	Debt settlement
  Extent of Geographic Presence	Not available in every state
  Minimum Debt Required	Not disclosed
  Average Time for Relief	36 months
  Average Relief Amount	Not disclosed

DMB Financial Costs and Fees

• Fees: DMB Financial is not transparent about its fees for its debt settlement programs. To learn about the company’s upfront fees, settlement/performance fees, and any other fees, you’ll need to schedule a free consultation. 
• Cancellation Policy: There is no information on what will happen if you decide to terminate DMB Financial’s services. You might want to ask them about the cancellation policy and if there are any penalties for canceling during a consultation. 
• Money Back Guarantee Policy: As with the fees and cancellation policy, DMB Financial is unclear about whether it offers a money-back guarantee. Chances are it doesn’t as guarantees are usually well-advertised but you’ll want to ask before moving forward with the program. 

  Upfront Fees	Not disclosed
  Settlement/Performance Fees	Not disclosed
  Other Fees	Not disclosed
  Cancellation Policy	Not disclosed
  Money Back Guarantee Policy	Not disclosed

DMB Financial Application Process

DMB Financial has a 4-step application process. After you contact the company by phone (866-384-6232) or email (info@dmbfinancial.com), you will be paired with a program consultant who will guide you through the application.  

1. Review Your Goals: During the initial consultation, your program consultant will look at your financial situation and explain your options. The consultation is free and without obligation.
2. Create a Program: If you agree to go forward, your consultant will customize a debt relief program for your situation.
3. Make Monthly Deposits: DMB Financial will set up an account to settle your debts. You’ll make deposits each month to fund the account.
4. Negotiate Debts: Once your account begins to accrue funds, the company will contact your creditors to settle your debts for a reduced amount. 

DMB Financial Customer Experience 

• Website Extensiveness & Usability: Compared to other debt relief company websites, DMB Financial’s site is very basic. It lacks transparency and fails to reveal important information about its fees, policies, and process.
• Expanded Call Center Support: If you have a question or concern about DMB Financial and its debt settlement programs, you call 866-384-6232 for phone service. Its call center is available Monday through Friday from 9:00 am to 9:00 pm EST and Saturday from 9:00 am to 5:00 pm EST.
• Multi-channel Support: In addition to phone support, you can email DMB Financial at  info@dmbfinancial.com. You might also be able to get a hold of a customer service representative on the DMB Financial Facebook, Twitter, and LinkedIn pages. 
• Supplemental Support (Information & Tools): Since DMB Financial's website is so minimal, it lacks blogs, calculators, and other resources that might come in handy to new and prospective clients. It does, however, feature a client portal you can log into if you decide to work with the company. 
• Mobile Technology: There is no app you can download and use to keep track of your progress on the go via a smartphone or other mobile device.

DMB Financial Trustworthiness and Stability

• Years in Business: Established in 2003, Massachusetts-based DMB Financial has provided debt settlement services for 19 years. 
• Customers Serviced / Debt Managed: As of 2022, DMB Financial has served over 30,000 people in 26 states with over $1 billion of debt.
• Certifications/ Accreditations/ Memberships: DMB Financial has been accredited by the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA). 

  Years in Business	19
  Customers Serviced / Debt Managed	Over 30,000 people / Over $1 billion of debt
  Certifications/ Accreditations/Memberships	Accredited with the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA)

DMB Financial User Reviews 

Even though DMB Financial earned a B- rating on the Better Business Bureau (BBB), there are plenty of positive reviews on the site. Many past clients state that they were skeptical about the company’s debt settlement program but are glad they went through it. There are also quite a few comments about the personal attention they received from DMB’s representatives. The negative reviews on BBB related to the lengthy process.

On Yelp, DMB Financial received 2.5 out of 5 stars. Most of the positive reviews are from former clients with credit card debt who praise the attentiveness of the company’s representatives and smooth process. Some clients, however, explain that DMB isn’t worth it as you can do the work they do on your own without paying any fees.

DMB Financial holds a 2.5 out of 5 star rating on Best Company. There are some positive comments about the straightforward debt settlement program but many complaints about the company’s lack of organization and the fact that they only repay one credit card at a time. A few complaints also mention the prolonged process that led to lawsuits with creditors. 

DMB Financial Compared to Other Companies 

Compared to other debt relief companies, DMB Financial is less forthcoming about its services. You’ll need to contact the company to learn about its minimum debt requirements, fees, and policies.

Final Thoughts 

While DMB Financial isn’t as well known as other debt relief companies and its website lacks transparency, it might be a good fit if you’re in search of personal service from accredited professionals with a great reputation. 

Since the company offers a free, no obligation consultation, you might want to speak to its representatives to learn more about the program and find out if it makes sense for your unique situation. After all, you have nothing to lose.