DMB Financial Reviews

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Updated Mar. 20, 2025

By: Chloe Cochran

+1 more

Edited by: Kathryn Parkman

About DMB Financial

DMB Financial is a debt settlement company headquartered in Beverly, Massachusetts. It has been in business since 2003 and claims to have helped over 30,000 people manage over $1 billion in debt.

Pros

Available nationwide
Free, no-obligation quote

Cons

Limited price transparency
Program length varies

What is DMB Financial?

DMB Financial is a privately held company that operates within the debt relief industry. It specializes in providing debt settlement services. This means they assist individuals in negotiating with their creditors to reduce the amount of unsecured debt they owe. It is not a lending company.

DMB Financial services

DMB Financial specializes in debt consolidation services. It does this by creating a plan for clients to make monthly deposits in a secure savings account instead of paying their creditors. DMB utilizes an insured savings account to help you pay back your creditors. While it doesn’t disclose its fees or program length, it does offer free cost estimates.

Then, when you have enough money saved up, DMB Financial will negotiate with your creditors for you to consolidate your loans.

How does DMB Financial work?

First, DMB Financial needs some of your information. Whether you call or fill out an online form, you will be asked to provide your name, contact information, current address, unsecured debt amount and income.

A program consultant then reviews your financial situation and explains the options available to you. Once a strategy is decided, your consultant creates an action plan. Then, you start making monthly payments.

DMB Financial FAQ

How does DMB Financial affect your credit?

It's important to understand that debt settlement, in general, can negatively impact your credit score. DMB Financial does not disclose whether or not its program will affect your credit score. However, its program requires you to stop payments to your creditors, so that will affect your credit score negatively.

How long does DMB Financial’s debt settlement program take?

DMB Financial does not disclose how long its debt settlement program takes, and was unresponsive when asked by ConsumerAffairs.

Where is DMB Financial available?

DMB Financial is available nationwide.