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DMB Financial Review

While DMB Financial is smaller than other debt relief companies, it offers more individualized service and a free phone consultation with a certified program consultant so you can learn more about the program and decide if it’s right for you.

DMB Financial Review
DMB Financial
Diverse service offering
Accredited member of AFCC and IAPDA
Free tax relief consultation
Available in 26 states
Low minimum debt requirement
Minimum debt required not disclosed
Anna Baluch
Written by:Anna Baluch
Personal Finance Writer

Reviewed by: Jen Hubley Luckwaldt, Content Writer and Editor

Fact Checked by: Thomas Brock, Chartered Financial Analyst (CFA) and a Certified Public Accountant (CPA)

Consumers who are struggling to manage unsecured debt from high-interest credit cards might consider working with DMB Financial. This debt relief company says that a typical client realizes a 48% reduction in debt over 36 months. 

Editor’s Note (Warning) 

There is no guarantee that any debt relief company will successfully negotiate with your creditors. You may wind up on the hook for fees as well as interest charges from your creditors. Debt settlement can also cause your credit score to take a major hit. You may want to consider less risky alternatives including balance transfer credit cards, debt consolidation loans, or nonprofit credit counseling.

Summarized Rating

This parameter considers service offering breadth, geographic reach, and minimum debt level requirements. Each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall services and solutions score.

DMB has a slightly below average 3.0 for Services and Solutions. This reflects its standard service offering and minimum debt requirement.

What Is DMB Financial?

Since its debut in 2003, DMB Financial has helped over 30,000 people manage over $1 billion in debt. The company’s sole focus is customized debt settlement programs, which involve negotiating debts on the behalf of their clients. It proves its expertise and commitment to debt relief through accreditations from the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA).

DMB Financial Pros and Cons

DMB Financial Pros
Convenient client portal
Accredited by the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA)
Referral program worth $200
DMB Financial Cons
Lack of transparency regarding fees
Not available in every state
No money-back guarantee
Recent judgment against DMB Financial regarding deceptive business practices

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 (, 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 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


    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.

DMB Financial

Accredited Debt Relief

Freedom Debt Relief

National Debt Relief

Minimum debt required

Not disclosed 





Not disclosed 

15% to 25% of enrolled debts

15% to 25% of settled debts

15% to 25% of enrolled debts

Cancellation Policy

Not disclosed 

Not disclosed 

Can cancel at any time without penalty

Can cancel at any time without penalty 

Money Back Guarantee Policy

Not disclosed


Not disclosed 


Average Relief Amount

Not disclosed 

Not disclosed 

Not disclosed 

Most clients save 30% to 50% off of their original debt amount

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.

Anna Baluch

Written by: Anna Baluch

Personal Finance Writer

Freelance copywriter who enjoys writing for large publications as well as startups, small to medium sized businesses.

More about me
Jen Hubley Luckwaldt

Reviewed by: Jen Hubley Luckwaldt

Content Writer and Editor

Jen Hubley Luckwaldt is an editor, writer, and content strategist with a focus on personal finance, careers, and DEI. A small business owner for over a decade, Jen helps publications and brands create and optimize B2B and B2C content.

More about me
Thomas Brock

Fact checked by: Thomas Brock

Chartered Financial Analyst (CFA) and a Certified Public Accountant (CPA)

Thomas is a well-rounded financial professional, with over 20 years of experience in investments, corporate finance, and accounting. He currently oversees the investment operation for a $4 billion super-regional insurance carrier, maintaining a dynamic investment policy designed to preserve capital, enhance...

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