DMB Financial is a private debt consolidation company that offers various debt restructuring programs. It is based in Beverly, Massachusetts. Since its journey in 2003, DMB has served more than 30,000 burdened people carrying more than $1 billion of high-interest debt. Within 36-48 months, even if you have debts of more than $150,000 with a high-interest rate, you can be debt-free. DMB charges $25-$35 to settle your debt. The firm says that paying only your minimums can cost more than what you originally owe. So, it offers smart settlement and restructuring programs to save thousands of dollars for you. The following review of DMB financial will produce a clear introduction about the firm and help you decide whether it can solve your problem or not.

DMB claims that it provides the best debt relief programs to liberate its clients from their burdensome debt. While some debt relief companies assert that they can relieve their customers from high-interest debts within 12-24 months, DMB typically takes 36 to 48 months. According to some customers, DMB may take more time than other companies do but it undoubtedly does what it says.

How DMB Financial Works?

If you apply for a personal loan, the consultants of DMB will study your current financial situation for free and suggest the best available option. After looking at your financial position, DMB will customize the best-suited debt relief program for you. Basically, depending on their affordability, customers have to save money into an FDIC-insured account. This debt consolidation company negotiates with the creditors once the customer has saved the settlement amount. It’s not certain that all the creditors will negotiate with DMB. The firm settles debts with a much lower amount to reduce the debt burden than the customer actually owes. Additionally, the firm consolidates debt payments to multiple creditors into one single monthly payment to make them debt-free sooner.

Does Settling a Debt Hurt Credit Score?

If you settle your debts through a debt consolidation company, it may hurt your good credit score. Some people said that they lost more than 50% of their credit score, some faced even worse situations. When a debt settlement is ongoing, debtors must stop making payments. DMB tells its customers to save money in a savings account so that it can use this as the settlement amount. This may harm your credit score although you can regain your credit scores bit by bit as soon as you are paying off the debts. DMB doesn’t guarantee that the settlement will not hurt customers’ credit scores.

Features of DMB Financial

  • DMB offers a $1,000 money-back guarantee should the firm is unable to resolve or settle the debt.
  • The customers are free to opt-out anytime if they think it is best. If they do opt-out, the deposited money will go to the client.
  • DMB, unlike many other debt consolidation companies, provides a  free obligation consultation service which means customers don’t have to pay for the initial consultation.
  • DMB Financial is an accredited member of the American Fair Credit Council (AFCC), which indicates that the firm has a good reputation in the industry.
  • An A+ rating in the Better Business Bureau (BBB) also suggests that you can trust this firm.
  • Customers can track the progress of their debt settlement through the firm’s client portal.
  • DMB takes more time to make its customers debt-free which is 36-48 months while many debt consolidation companies can do it within 12-24 months.
  • The firm doesn’t offer debt consolidation services all over the USA.
  • DMB might have some scams and frauds. These may hinder people from trusting the firm without hesitation.
  • The firm has a rating of only 2.7 out of 5. Some customers gave a bad review about DMB Financial after using their services.


On May 17, 2018, the Commonwealth of Massachusetts filed a complaint against DMB Financial. The allegation was that the firm doesn’t successfully settle its customers’ debts. Instead, this process destroys their credit score and they fall into a more difficult situation. It seems like fraud although there has been no verdict yet. DMB Financial is such a debt settlement company that has many claims of scams. Moreover, it doesn’t have much of a good rating.

When you are in a dilemma of deciding which company to contact, you must choose a debt settlement company that has a good reputation and a conspicuous user rating. So, Golden Financial Services is one of the best loan consolidation companies for you.

DMB Financial

Golden Financial Services (GFS)
Rating 2.7Rating 4.92
Takes 36-48 months to settle debtsTakes 24-48 months to settle debts
DMB doesn’t disclose their fees although some say that the firm charges higher fees than others.Charges 15%-30% of the total debt enrolled.
Provides a money-back guarantee.Doesn’t provide a money-back guarantee although they have a reputation for doing what they promise.

Also, find out the top 10 national debt consolidation companies. If you’ve used DMB services, please share your experiences with us so that we can let others know.