DMB Financial Review

Choose a provider that’s fully transparent about its process

Our editors independently research and recommend the best products and services. You can learn more about our independent review process and partners in our advertiser disclosure. We may receive commissions on purchases made from our chosen links.

Accredited Debt Relief

Accredited Debt Relief

overall rating

Our Take 

DMB Financial is a debt relief company with counselors certified by the International Association of Professional Debt Arbitrators (IAPDA). However, the company was recently accused of engaging in deceptive and abusive debt relief practices, and there are numerous complaints from consumers regarding its services. If you’re looking to enroll with a debt relief company, you would be better off choosing a different one

  • Pros and Cons
  • Key Takeaways
  • Specifications
Pros and Cons
  • Phone support is available six days a week

  • Debt advisors are IAPDA-certified

  • Client dashboard allows for 24/7 account management

  • Fee structure isn’t disclosed

  • Qualifications aren’t disclosed

  • Website doesn’t provide financial education resources or tools

Key Takeaways
  • An active lawsuit from the Consumer Financial Protection Bureau (CFPB) filed in December 2020 alleges DMB Financial engaged in deceptive debt settlement practices such as charging upfront fees and misrepresenting its fee structure.
  • While DMB Financial says its services aren’t available in every state, it doesn’t provide a detailed listing of its service area.
  • There isn’t a Frequently Asked Questions (FAQ) page included on the company’s website, meaning you’ll need to contact DMB Financial by phone or email to get answers to even commonly asked questions.
  • Year Founded 2003
  • Types of Debt Relief Unsecured debt
  • Fees Not disclosed
  • Average Repayment Period 36 to 48 months
  • Accreditations AFCC and IAPDA
  • Minimum Debt Not disclosed
  • Official Website


DMB Financial is a debt settlement company that can help people negotiate settlements on unsecured debt (e.g., credit cards) to repay their creditors an amount less than they owe. In exchange for successfully negotiating a settlement, clients pay the debt relief provider a fee. 

Debt settlement can ruin your credit and there’s no guarantee that your creditors will settle. Only pursue debt settlement as a last resort, after you’ve considered other options like credit counseling or a debt management plan. 

Read on to learn more about the debt settlement program offered by DMB Financial.

Company Overview

DMB Financial, LLC, was founded in 2003 and is headquartered in Beverly, Massachusetts. It has worked with more than $1 billion in debt and has helped over 30,000 clients settle their debt issues since its founding. While DMB Financial says that its services aren’t available in all states, such as Georgia, it doesn’t provide a list of other areas where it doesn’t do business.

The company is a gold-accredited service center with the International Association of Professional Debt Arbitrators, which offers training on debt relief rules and best practices. A gold accreditation by the IAPDA means DMB Financial employs at least 25 to 99 IAPDA-certified debt advisors. DMB Financial is also an accredited member of the American Fair Credit Council (AFCC), a leading professional association serving the debt relief industry.

One of the biggest drawbacks to DMB Financial is that it was sued by the Consumer Financial Protection Bureau in December 2020 for alleged violations of the Federal Trade Commission’s Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act. The lawsuit claims that DMB engaged in deceptive and abusive practices that violated the TSR, including collecting upfront fees. It further alleges the company didn’t clearly disclose and misrepresented its fee structure.     

Debt Relief Options

As is typical with debt settlement companies, DMB Financial can help negotiate settlements on unsecured debt. Unlike other debt relief providers, DMB Financial doesn’t provide details about what specific types of unsecured debt it can help resolve, other than credit card debt. This lack of transparency is a key drawback.

The best debt relief companies will provide details about the specific types of unsecured debt they can help resolve (e.g., credit cards, medical bills, personal loans). They typically don’t work with federal student loans and loans secured by collateral.

Besides offering limited information about the types of debt it can help settle, DMB Financial isn’t transparent about what qualifications you need to meet, if any, to enroll in its program. It only says that you’ll need to provide your full name, current address, unsecured debt amount, and income to apply. The company doesn’t discuss how this information is used other than saying it’s used in the design of your debt relief program. Most debt relief providers disclose what it takes to qualify for their programs. 

You can expect it to take 36 to 48 months to complete DMB Financial’s program. This is within the debt settlement industry average of 24 to 48 months.


Most debt relief providers use a performance-based fee structure and charge 15% to 25% of the total debt enrolled in the program. The best debt relief providers only require you to pay this fee after they’ve negotiated a settlement with your creditor, you’ve approved the settlement, and you’ve made at least one of the agreed-upon payments to your creditor. 

It’s illegal for debt relief companies to charge upfront fees. Be wary of any company that requires you to pay a fee in advance. 

DMB Financial does not disclose its fee structure on its website. While the company says you’ll be provided with a free consultation before you sign up for its services, it doesn’t address when you must pay a fee and how much you can expect to pay in fees. This information is shared by the best debt relief companies on their websites. 

This lack of transparency regarding fees is one of the biggest drawbacks to DMB Financial.

Customer Service: Available 6 Days a Week by Phone 

If you want to speak with a member of DMB Financial’s customer service team or request a free debt consultation, you can call 1-866-384-6232 (toll-free) six days a week during the company’s normal hours of operation:

  • Monday through Thursday: 8 a.m. to 9 p.m. (ET)
  • Friday: 8 a.m. to 5 p.m. (ET)
  • Saturday: 9 a.m. to 1 p.m. (ET)

You can also send an email to if you would prefer to have someone from DMB Financial reach out to you. Plus, if you’re new to DMB, you can use its online request form to request a free debt consultation. 

Unfortunately, DMB Financial doesn’t offer live chat and its website doesn’t include an FAQ page. Live chat is only offered by a few debt relief companies, so this isn’t an unusual exclusion. However, most debt relief companies include an FAQ page on their website. The lack of an FAQ page is yet another transparency issue with DMB Financial.

Customer Satisfaction: Many People Complain About Its Fees

We evaluated various sources to gain insight into what it’s like to work with DMB Financial. While there are many positive reviews, the volume of negative reviews about DMB Financial’s fee structure and billing process is troubling. Plus, many customers complained that DMB Financial’s program was taking much longer than expected to complete than originally planned. 

Many of the positive reviewers praised the level of communication they received from the DMB Financial customer service team, using words like friendly, supportive, and helpful to describe these individuals. There were also multiple positive reviews from people who completed DMB Financial’s debt settlement program. 

Although there are positive reviews about DMB Financial, the number of negative reviews combined with the active CFPB lawsuit related to this issue are cause for concern. 

Account Management

Once you’ve signed up for services with DMB Financial, you’ll be able to log into its client portal 24 hours a day, seven days a week, to manage your account and send DMB’s support team secure messages. The ability to constantly manage your account via a client portal is a feature offered by most of the best debt relief companies. 

To get account management support by phone, you can call 1-866-384-6232 during DMB’s normal business hours. If you have trouble accessing the client portal, you can send a message to, and someone from the DMB Financial support team will reach out to assist you. 

Details about what you can expect after you sign up for DMB Financial’s program, such as how frequently you can expect your advisor to communicate with you, aren’t provided. Many of the best debt relief companies provide detailed information about the ongoing communication you can expect (e.g., monthly updates from your debt advisor). 

Other Features

DMB Financial only offers a debt settlement program. If you want to seek credit counseling, sign up for a debt management plan, or get a debt consolidation loan, you’ll need to find a provider who offers one of these other debt relief programs. Some of the best debt relief companies offer referrals to reputable partners for these types of services. DMB doesn’t mention if it has any partners for referrals. 

You’ll get a free debt consultation before signing up for DMB Financial’s program, but this is a typical practice since debt relief providers can’t charge upfront fees. 

Unfortunately, DMB’s website doesn’t offer other free opportunities for financial education. The best debt relief companies include free financial education resources on their websites, such as blogs, calculators, budgeting tools, and more. 

How DMB Financial Compares to Other Debt Relief Companies

One of the main competitors to DMB Financial is CuraDebt, another debt settlement company that can help negotiate settlements on unsecured debt. Similar to DMB Financial, CuraDebt is accredited by both the AFCC and the IAPDA. Plus, both debt relief companies have similar program durations, with DMB Financial’s program often lasting 36 to 48 months and CuraDebt’s program usually lasting between 24 and 48 months.

Some of the key differences between DMB Financial and CuraDebt are: 

  • DMB Financial doesn’t detail the type of debt it can help settle other than credit cards.
  • CuraDebt can help negotiate settlements on unsecured debt like card cards as well as private student loans, some business debt, IRS debt, and back taxes.
  • DMB Financial isn’t transparent about its fees and doesn’t disclose its average fees.
  • On average, CuraDebt charges a fee totaling 20% of the total debt enrolled in its program. This fee is within the industry average of 15% to 25%. 
  • DMB Financial doesn’t disclose whether you need to meet any minimum debt requirements to qualify for its program. 
  • You’ll need at least $5,000 in qualifying debt to enroll in CuraDebt’s program. 

When comparing DMB Financial with CuraDebt, the better option is CuraDebt. CuraDebt is more transparent about its program requirements and fee structure. Plus, CuraDebt can help negotiate settlements on a wider variety of debt types, including IRS debt, back taxes, and private student loans.

Read our full review of CuraDebt here.

  DMB Financial CuraDebt
Year Founded 2003 2000
Types of Debt Relief Unsecured debt (e.g., credit cards) Unsecured debt (e.g., credit cards), private student loans, some business debt, IRS debt, back taxes
Average Fees Not disclosed 20% of total enrolled debt
Average Repayment Period 36 to 48 months 24 to 48 months
Minimum Debt Not disclosed $5,000
Accreditations AFCC and IAPDA AFCC and IAPDA
Final Verdict

Although DMB Financial has been in business for a long time, there is some cause for concern about this debt relief provider. Not only was DMB Financial recently sued by the CFPB for alleged violations of law, but there are also numerous negative reviews from customers about its program and fee structure. Plus, the company lacks transparency about its debt relief program, including the minimum debt you need to qualify. 

The best debt relief companies are fully transparent about their programs and make it easy for prospective customers to understand how their programs work. Rather than work with DMB Financial, a better choice would be to continue to shop around. There are a lot of other good debt relief providers who are transparent about their fees and other program requirements.


All of our reviews of debt relief companies are based on extensive research and analysis of each company based on service offerings, pricing, years in business, accreditation, customer service, and more. To rate DMB Financial and other providers, we developed a debt relief review methodology that compares the debt relief options offered, additional features, fees, success rates, and reported customer experiences to help us provide insights into things like customer service and the strength of each company’s offerings.

You can read our full methodology for a complete description of how we reviewed each company.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. IAPDA Certification. "IAPDA Accredited Service Centers." Accessed Nov. 29, 2021.

  2. AFCC - American Fair Credit Council. "DMB Financial." Accessed Nov. 29, 2021.

  3. CFPB. "Consumer Financial Protection Bureau." Accessed Nov. 29, 2021

  4. CFPB. "DMB Financial, LLC." Accessed Nov. 29, 2021.

  5. CFPB - Consumer Financial Protection Bureau. "Consumer Financial Protection Bureau Sues DMB Financial, LLC for Allegedly Violating the Telemarketing Sales Rule and Consumer Financial Protection Act." Accessed Nov. 29, 2021.