The Debt Management Group provides consumers with credit counseling and debt relief services. The company’s headquarters is located in Brooklyn, New York and was founded in 1995. The Debt Management Group offers consultations free of charge and customized savings plans for interested clients. The company also offers plenty of educational resources on their website such as an informative blog, debt calculator, and live chat to talk to a specialist at any time.   The company's website informs us that they knowledgeable financial advisors and consultants made available to consumers to help guide them to take control on their financial condition. The company operates in five states including New York, Connecticut, New Jersey, Minnesota, and Ohio. The Debt Management group is not accredited by any major organizations.

The Good

Free Debt Analysis

The Debt Management group offers a free debt analysis for potential customers who are looking customized savings plans. A knowledgeable financial advisor will go over all of the option available for debt resolution and help the client choose the right one to fit all of the customer's unique needs. Then the advisor will answer any questions and determine how much the customer can afford in monthly payments to settle the debt. According to the information provided on the website, the settlement process can take anywhere from 3 to 30 months.

Variety of Debt Relief Programs

The Debt Management Group offers a plethora of debt relief options for customers. There is a debt settlement program to help avoid filing for bankruptcy, but can negatively affect the client's credit score. Clients also have the choice of paying monthly minimum payments or consolidate their debt. Credit counseling is also available.

Customer Satisfaction

Posted on the company’s website, one can find numerous testimonials of satisfied customers along with real-life past examples of successful debt negotiations.

The Bad

Lack of Major Accreditations

The Management Group does not have any major accreditations from trusted organizations like the FTC, AFCC, or the IAPDA.

Lack of Transparency 

The Debt Management Group does not disclose their fees anywhere on their website. We would like to see more transparency about pricing so that potential clients can make an informed decision on if the company is right for them. Note that since 2010, debt settlement companies are not legally allowed to charge fees upfront until a debt is fully resolved.

No Money-Back Guarantee

There is no information regarding the policy on a money-back guarantee. The more trusted settled companies typically offer a money-back guarantee.

The Bottom Line

The Debt Management Group offers services for residents living in New York, Connecticut, New Jersey, Minnesota, and Ohio. There are also plenty of positive client testimonials on the company’s website.   On the other hand, the company doesn’t seem to have any major industry accreditations and no money-back guarantee. They also do not release their general fees to the public.

 

About The Debt Management Group

The Debt Management Group offers services in debt consolidation, credit counseling, and debt settlement services. For the majority of cases, clients can consolidate loans into one monthly payment, or at least reduce monthly interest rates. The company also have a capability of resolving debt through an agreement to drastically reduce the total amount owed. There is no information about what the company charges for these services.