Skip to Main Content

DMB Financial Debt Relief: 2024 Review

Updated on July 28, 2023
Bankrate logo

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

Overall Score 4.1
Overview In business for the past 20 years, DMB Financial is a debt relief company that works with those who need assistance settling credit card debt. Accredited with the American Fair Credit Council, DMB Financial touts to have helped more than 30,000 people address their debt. Its site shares minimal information regarding debt requirements and overall costs. To get a full picture customers must start the online application.
Minimum debt required Generally $10,000 or more
Time frame Not specified
Fees Not specified

Best for: future financial success 

DMB Financial is best for those that have two or more credit cards that have led to a build-up of unsecured debt. The mission statement of the Massachusetts-based company aims to redefine financial security through debt settlement. 

More specifically, DMB can handle both debt negotiation and settlement which can mean future financial freedom. Working directly with creditors can be overwhelming for the average person so having a professional counselor will bring ease to the process. 

Types of debt settled by DMB Financial 

DMB Financial discloses minimal information regarding the types of debt covered. According to the company's online brochure, unsecured credit card debt is covered. Typically the company approves customers that have $10,000 or more of unsecured debt and at least two credit cards who are experiencing financial hardship. 

DMB Financial: Pros and cons

Weigh both sides of the coin before deciding whether or not to work with DMB Financial to settle your debt. 


  • Checkmark

    Free initial consultation.

  • Checkmark

    Professional counselors.

  • Checkmark

    Positive reviews.


  • Close X

    Unknown fees.

  • Close X

    No money-back guarantee.

  • Close X

    Hard to navigate site.

Debt relief qualifications

DMB Financial gives sparse information for potential clients in terms of necessary qualifications. The company tends to work with those that have $10,000 or more of unsecured debt and at least two credit cards.

The company brochure says that clients tend to reach settlement within four to eight months, and the payment schedule is based on the number of credit cards and amount owed. 


DMB Financial will assist in settling credit card debt through the process of debt negotiation and settlement. Known as the Financial Guardian Program, DMB will work to reduce or eliminate debt through assistance from professional consultants, prevention of harassing phone calls and negotiation.

Here’s an outline of what you can expect if you decide to work with the company.

  • First, you will share information on your current finances with a certified program consultant. Following that, you will receive options to settle your debt.
  • A specific program will be tailored to your needs.
  • Next, you will begin to settle your accounts by making monthly deposits into a specific FDIC-insured account.
  • Finally, the money built up in the account will be paid back to your creditors. All negotiations will be handled by DMB Financial’s representatives.

Fees and penalties

DMB Financial does not disclose expected fees and penalties when in the process of settling debt. Though debt settlement companies tend to charge anywhere between 15 and 25 percent of the debt that is getting resolved.

This lack of disclosed information can be a red flag, as unknown costs can put those already struggling in a more precarious situation. When choosing the right debt relief company look for transparent options, which tend to mean a more trustworthy experience. 

Credit score impacts

When you work with a debt settlement company, DMB Financial or otherwise, your credit score can drop significantly — as much as 100 points. Though this drop is dramatically less than if you were to have to declare bankruptcy. 

What we like and what we don’t like

Working with any sort of debt settlement company does not come without risk. Consider how unknown requirements may outweigh the free consultation offered. 

What we like

  • Free initial consultation. The company allows customers to explore the process with a free initial consultation.
  • Professional counselors. Customers will be matched with a professional counselor to explore the best financial routes to take.
  • Positive reviews. Out of the 374 BBB reviews, DMB Financial has a score of 4.82 out of 5 as of July 23, 2023.  

What we don't like

  • Unknown fees. There is no disclosure of expected fees throughout the debt relief process.
  • No money-back guarantee. Unlike some other debt relief companies, DMB Financial does not ensure a money-back guarantee.
  • Hard to navigate site. The DMB Financial site offered minimal information on the qualifications necessary along with no FAQ section. 

Customer experience and reviews

DMB Financial is not accredited with The Better Business Bureau and holds a B+ based on debt relief client reviews. Common complaints reference extended debt payoff timelines and poor communication. In contrast, Accredited Debt Relief, another company focused on assisting consumers handle credit card debt boasts an A+ rating with the Better Business Bureau — the highest rating awarded.

DMB Financial was also accused by the CFPB of charging unlawful fees in 2021. The case has since been resolved with DMB being ordered to pay redress to customers and a penalty to the CFPB.  

How to contact DMB Financial

Customers can reach DMB Financial for assistance by phone at 866-384-6232 on weekdays between 9 a.m. and 9 p.m. ET or on Saturdays between the hours of 9 a.m. and 5 p.m. ET. Outside of that customers can reach out over email with specific questions.  

DMB Financial frequently asked questions

How Bankrate rates DMB Financial

Overall Score 3.8 Explanation
Availability 3.0 There is minimal information disclosed on the debt required.
Affordability 4.2 The company offers free consultation but otherwise has unknown fees.
Customer experience 4.1 Customer support is available six days a week, but the site does not share much information for clients.
Company reputation 3.5 There are several complaints with the CFPB.
Stability 5.0 The company carries accreditation and has been in business for 20 years.


To rate debt relief services, Bankrate considers 15 factors. These factors include minimum debt allowed, what fees are charged, whether there are unresolved complaints and if the company is accredited. Categories that the services are rated on include:

  • Availability: Availability is assessed based on the minimum debt balance required, types of eligible debt and whether the company provides free credit counseling.
  • Affordability: Affordability is assessed based on associated fees and whether the company specifies money-back guarantee terms.
  • Customer experience: Customer experience is assessed based on website usability and features, customer support options and hours of operation.
  • Company reputation: Company reputation is determined by assessing complaints with regulatory agencies, like the Federal Trade Commission and Consumer Financial Protection Bureau.
  • Stability: Stability ratings are based on how long the company has been in business and whether it maintains membership with a professional trade association.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.