DMB Financial is a debt relief company based in Beverly, MA. Since it was established in 2003, the company has helped over 25,000 clients and managed more than $800 million in debt. DMB Financial has an A+ rating with the BBB and is an accredited member of the AFCC (American Fair Credit Council) and the IAPDA (International Association of Professional Debt Arbitrators).
DMB Financial offers a performance-based service. That means they only charge clients a fee when they have settled a debt. That is an FTC requirement for all debt settlement companies but DMB Financial practiced this policy prior to the FTC ruling. According to DMB Financial’s own records, clients can expect to be debt free within 24-48 months. Of course, results vary from case to case.
DMB Financial charges customers 18% to 25% of the debt they help reduce. To illustrate, let’s say you own $20,000 in credit card debt and DMB Financial manages to negotiate with your creditors and reduce the debt to $10,000. Your fee would be $3,600 and $5,000.