DMB Financial Debt Settlement

DMB Financial Debt Settlement Review

DMB Financial Debt Settlement is a debt settlement company based in Beverly, MA. It offers debt relief services to borrowers in 49 state across the USA. Founded in 2003, it is a well-established company that has been in business for over 10 years.

Key Takeaways

• Low debt minimum. DMB Financial Debt Settlement stands out from the competition because it only requires clients to have a minimum balance of $7,500. Most firms require at least $10,000 of unsecured debt. On the other hand, it will only help settle individual accounts with a balance of at least $500 or more per account.
• AFCC and IAPDA accredited. DMB Financial Debt Settlement is a member of the American Fair Credit Council (AFCC), which is the largest trade association for the debt settlement industry. It also employs debt resolution specialists that have been trained and accredited by the International Association of Professional Debt Arbitrators (IAPDA).
• Well-established firm. DMB Financial Debt Settlement has been in business for 20 years.
• Types of debt settled. DMB Financial Debt Settlement will only settle unsecured debts. These include credit card accounts, personal loans, and payday loans.
• Available in most states. DMB Financial Debt Settlement is available in 49 states.
• Offers in-house debt relief services. Some debt settlement companies act as intermediaries for larger firms. This company uses its own staff to handle debt settlement accounts.
• Customer service availability. DMB Financial LLC Users can track the progress of their settlement accounts at any time by logging onto their online account.

DMB Financial Debt Settlement Pros & Cons

Pros	Cons
No monthly consultancy fee Low minimum debt Has IAPDA accredited debt specialists on staff AFCC member	Requires a minimum balance of $500 per account.

DMB Financial Debt Settlement FAQ

What does DMB Financial Debt Settlement do?

DMB Financial Debt Settlement offers debt relief services for the following types of debt:

• Unsecured debt, such as credit card debt and personal loans.

What does DMB Financial Debt Settlement charge?

DMB Financial Debt Settlement operates on a contingency fee basis. Companies operating under a contingency fee model charge fees that are based upon a percentage of the debt at the time the consumer enrolled; occasionally they are based on a percentage of the savings negotiated by the debt-settlement company. Across the industry in general, debt settlement clients typically see a 45% to 60% reduction of their enrolled debt.

DMB Financial Debt Settlement charges fees that range from 18% of the enrolled debt up to 25% of the enrolled debt, depending on the amount of enrolled debt provided.

Debt relief service pricing / costs can vary greatly from one client to another so it's best to speak to DMB Financial Debt Settlement directly to determine an accurate quote.

Does DMB Financial Debt Settlement offer a guarantee?

No, DMB Financial Debt Settlement does not have a money back guarantee. Some debt settlement companies advertise a money-back guarantee that typically states you won't be charged until your debt is settled. However, it is illegal for debt settlement companies to charge upfront fees before an account is settled. So these guarantees offer little added value to consumers.

What is the minimum debt DMB Financial Debt Settlement will consider?

DMB Financial Debt Settlement will only consider customers with unsecured debt of $7,500 or more. Customers with less than $7,500 of unsecured debt may benefit from a debt consolidation loan or credit counseling services.

Does DMB Financial Debt Settlement perform its own servicing in-house?

Yes, DMB Financial Debt Settlement employs its own in-house servicing staff who manage the process and negotiate settlements on behalf of their customers.

What accreditations does DMB Financial Debt Settlement have?

The two main trade associations in the debt relief services space are the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA).

• DMB Financial Debt Settlement is an accredited AFCC member.
• DMB Financial Debt Settlement is an IAPDA member.

Is DMB Financial LLC a legit company?

DMB Financial LLC was founded in 2003, it is a well-established company that has been in business for 20 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.