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DMB Financial Review

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DMB Financial Review

DMB Financial is a debt settlement company founded in 2003, which is much older than many of its competitors. The company helps you negotiate debt settlements with your creditors on unsecured debts, and repay less than what you originally owed. If the negotiation is successful, you pay them a fee. 


A+ BBB consumer rating
24/7 access to client dashboard
Debt advisors have IAPDA certification


Limited types of debt qualify
10 complaints with the CFPB
Debt takes 36 to 48 months to settle


Quick Stats

Credit Score Impact
Not Available
Average Net Savings
BBB Rating
15% TO 25%
Minimum Debt Required
Money-Back Guarantee
Not Available
36 to 48 months

About DMB Financial

DMB Financial is an American company that started out in 2003 and has their headquarter in Beverly, Massachusetts. So far, they have helped with $1 billion in debt, and over 30000 clients have settled their debts with them. DMB Financial doesn't disclose the states they do not operate in, so there's no clear list on that.

The company has a gold accreditation with the IAPDA, the International Association of Professional Debt Attributes, which means at least 25 to 99 employees of DMB Financial have an IAPDA certification. 

The major drawback with this company is their lawsuits from the Consumer Financial Protection Bureau in 2020; they were sued for violating the Federal Trade Commission's Telemarketing Sales Rule and the Consumer Financial Protection Act. The claims against them were that they were engaging in a deceptive and abusive practice that violated the Telemarketing Sales Rules by collecting upfront fees and not disclosing the exact fees that had to be paid.

DMB Financial Debt Relief Options

DMB Financial offers limited information on the types of debt they offer; there is no transparency in terms of what qualification you need to meet in order to get enrolled in one of their programs. Unlike other debt relief providers who specifically lay out everything, you need to know beforehand.

Unsecured debts refer to loans that are not backed by collateral or a guarantor. 

The one aspect they did mention is that they accept unsecured debts; this means any type of debt that is not secured by collateral, like a mortgage, this includes:

Types of debts accepted

Credit Card debt: This covers everything from traditional credit card issues from Visa or Mastercard to store and private labels credit cards. As of 2021, Americans owe about $900 billion in credit card debt; this amount is predicted to increase by $60 billion by the end of the year. Put simply, a lot of people need help with their credit card debt. 

Medical debt: $140 billion of outstanding medical bills are waiting to be paid off; DMB Financial could help with the bills by negotiating with hospitals and medical providers to pay a lower fee. 

Private loans: If you have unsecured personal debt, you will qualify to reach a debt settlement with DMB Financial; they also cover payday loans and all debts associated with them.

DMB Financial Fees

The lack of transparency with their prices is the biggest drawback as they do not discuss any of their fees structure on their website. Normally, debt relief companies take 15% to 25%, and they clearly advertise the basic required fees. Since there is no guarantee that you'll get a settlement, legit companies only make you pay once they negotiate the terms with your creditors, you approve the payment layout, and you start paying off your loan. 

DMB Financial does not take the same approach; you won't be able to search for the basic fees on their website. They do offer a free consultation, but they do not make it clear how much you'll end up paying or when the payments will start. 

Relief amount

Like their fees, DMB Financial does not disclose the amount of money you can save with your settlement. If you want to get a close estimate, your best chance is to take a look at their "results" page on their website to see their previous debt settlement results.

Relief time

Most debt relief companies offer to settle your debts from 12 to 24 months; this is not the case with DMB Financial. On their website, they offer to help settle your debts in a 36 to 48 months timeframe, which is a little longer than usual. 

DMB Financial Customer Support

For any questions or concerns, you can reach their customer support by email or phone. If you are a client, you can use the online client dashboard to send them a message. 

If it's not urgent, you can email them at any time through [email protected]; and they will get back to you as soon as possible. Another way to reach them if you are new is by filling out the request form to get a free debt consultation. 

They also have a toll-free number +1-866-384-6232 that is available six days a week, during business hours. Their hours are Monday through Thursday, 8 a.m. to 9 p.m., Friday 8 a.m. to 5 p.m., and Saturday 9 a.m. to 1 p.m. Eastern Time. 

There is no live chat on their website and no FAQ page.

Additional Features

To manage your account, you can log into their client portal, available 24/7 once you've signed up. This will keep you up to date on the whole process; you can manage your account, send messages to DMB, and get constant access outside business hours. 

DMB Financial does offer a free consultation session before you sign up for their program, but there aren't other free services. Calculators, financial blogs, FAQs, and budgeting tips are not available; any questions you have must be discussed during the consultation; so make sure you do your research beforehand. 


DMB Financial's hidden fees and lack of transparency are major setbacks, especially considering how other debt relief companies clearly advertise their fees. That being said, they do offer a no-risk free consultation, so you can always talk over your debt with no commitment. During the consultation, make sure to address all of your questions and concerns, as they do not state any of that information on their website

How much does it cost?
How much will I save?
How much will I pay upfront?
What debts are included?
Do their services cover all states?
What is the minimum debt accepted?
How long does is the repayment period?

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