Jun 26, 2022
As with other companies that specialize in debt relief, DMB Financial promises to help you out of debt through the process of debt settlement. When you sign up for the debt-settling process, you'll be required to stop paying your medical debts, credit cards, and other debts you're in. Instead, you'll be required to pay a specific amount of cash into an insured, FDIC-approved savings account. When you've enough money within your savings account to pay your debts, DMB Financial will get to negotiate the debts you owe on your behalf.
Although some debt settlement firms claim to get you to pay off the debt in 12-to-24 months, the process usually takes between 36 and 48 months. They also don't divulge their fees and do not advertise the possibility of a money-back guarantee or provide any details on the steps to cancel your plan once you've started.
With credit card debt incurred by U.S. households surging to about $5,313 on January 20, 2021, it's no reason why many consumers require assistance. DMB Financial can help you pay your credit card debts with less than what you have to pay.
It's not difficult for medical expenses to become a major issue, particularly when you don't have health insurance. When medical bills keep rising, DMB Financial can work with hospitals and other medical professionals to ensure you pay less than what you owe.
Although DMB Financial doesn't list a minimum amount of debt, you must be able to afford its services. However, they provide an initial consultation for free via phone. If you call for a consultation, you'll talk to a trained program consultant who'll discuss your circumstances and provide possibilities available to you. If you decide to pursue the option and pursue a debt settlement plan, you'll receive a customized debt settlement program specifically tailored to your circumstance and requirements.
DMB Financial lets you email or call the company for assistance and respond to your calls promptly. They also allow you to contact DMB Financial via their online client dashboard. This may be more convenient for users who do not want to call or send emails to the generic customer service number.
In terms of their hours of service to customers, you can reach them to get assistance Monday through Thursday, from 8 a.m. until 9 p.m. on Fridays between 8 a.m. until 5 p.m. and on Saturdays from 9 a.m. until 1 p.m. (EST). Customer service representatives or debt-relief specialists aren't available on Sundays.
There is a warning from the Federal Trade Commission (FTC) warns consumers against a variety of scams involving debt relief, such as ones targeted at consumers who struggle with debt from credit cards. There's good news; it is easy to look up debt relief companies on the internet using tools like the Consumer Financial Protection Bureau database. If you're unhappy with the services provided by a company that offers debt relief, you can make a complaint to the FTC or call 877 FTC-HELP.
DMB Financial provides clients a one-year guarantee of $1,000 should an unpaid debt remain in the program and not be resolved. Clients can withdraw from DMB Financial at any point without paying any costs. According to a program consultant, the funds that have been transferred into the bank account they created will be returned directly to the customer.
There aren't any favorable reviews for DMB Financial on Best Debt Companies. DMB Financial's average rating from customers of 0.5 /10. DMB Financial customers complain that they aren't able to settle debts and take out fees even when work has been finished and don't even communicate with customers.
The company claims to help you pay off the debt for less than the amount you owe, allowing you to get on with your life. They offer a standard schedule that ranges from 36-48 months. It is important to note that, although the length of your plan will vary, many firms offering debt relief say they can finish their program in as short as 12-24 months.
Although most debt relief firms say they charge their customers fees that range from 15 percent up to 25 percent of the settled amount of debt, DMB Financial doesn't disclose the fees in advance. This is not an indication of goodwill since it suggests that the business is not keen on being transparent with potential clients.