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8 User Reviews
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LAST UPDATED: March 28th, 2022

The Debt Management Group started in 1995 and is headquartered in Brooklyn, New York. The company claims to work with an experienced and highly qualified team of financial consultants that have spent their whole careers assisting customers with debt relief, money management, and budgeting. The Debt Management Group also boasts flexible plans that work with each customer's unique situation. 

Customers can choose from a variety of services like debt management, consolidation, settlement, and credit counseling. Pricing information is not provided on the website, and the company is not IAPDA or AFCC accredited. Additionally, it is unclear if they are FTC compliant.

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The Good

  • Debt Settlement
  • State Availability
  • Long Time in Business
  • Free Consultation
  • Live Chat
  • Debt Calculator

Debt Settlement

The Debt Management Group analyzes each customer's unique situation, and suggests the best plan to fit his or her needs. Some programs can last 30 months, and others, three months (depending on how much people choose to pay for the monthly payments).

Interest rates start at zero percent. The company aims to help people reduce their debt-to-income ratio, and pay off all of their debts in less than five years. The company offers several past customer testimonials that prospective clients can explore.

State Availability

While the company is based in Brooklyn, NY, its services are also available in New Jersey, Ohio, Minnesota, Connecticut, throughout New York, and regionally. Additional state availability information is not provided.

Long Time in Business

The company has been in the industry longer than most others, starting in 1995.

Free Consultation

Standard to the industry, Debt Management Group offers a free consultation to those interested. Debt relief experts offer helpful consulting tips, and answer settlement, consolidation, management, and general questions during the call.

Live Chat

Customers can enjoy a live chat feature right on the website. With this feature, customers can receive immediate answers to questions. Many companies in the industry do not offer this feature.

Debt Calculator

The company offers a free debt calculator that allows customers to calculate estimated interest amounts, and the length of time it will take to pay off the debt.

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The Bad

  • Pricing Not Given
  • Not Accredited
  • Minimum Debt Requirement
  • Negatively Impacts Credit Score
  • Programs Not Explained

Pricing Not Given

The company's website lacks some key information, including pricing and costs. It is unclear what percentage of the total enrolled or saved debt that The Debt Management Group charges. Pricing information would be extremely helpful to know when exploring different debt settlement options.

Not Accredited

Debt Management Group is not AFCC, or IAPDA accredited. It is unclear whether or not the company is FTC compliant.

Minimum Debt Requirement

The Debt Management Group requires $10,000 of debt enrolled to qualify for their services.

Negatively Impacts Credit Score

The website states that debt settlement will negatively affect one's credit score, since the payments will no longer be made to the creditors.

Programs Not Explained

The Debt Management Group's debt relief programs are not explained in depth. In fact, each debt relief option is described only briefly, and no specific concrete details are provided. Again, this information is important to know when exploring different company programs. 

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The Bottom Line

The Debt Management Group has been in the industry since 1995. Customers receive a free consultation, a debt calculator, and a convenient live chat feature on the website. Customers who are having trouble making the minimum monthly payments on their unsecured debt can explore The Debt Management Group's debt settlement program. However, the company lacks AFCC and IAPDA accreditation. The website lacks information on costs and fees. We recommend looking into a more transparent and accredited company.

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Star Rating

3.8

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8 Reviews

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Mr. Owens Augusta, GA

I was award $30,000 from a creditor based on a $2000 debt. After settling with my Laywer and paying taxes I received a check for $17000 and the creditor voided the remaining debt and removed that account from my credit report. The Debt Management Group is the real deal and a great team of people that aren’t after your money. In fact after 5 months I had to leave the debt settlement program to avoid termination by my employer because it doesn’t support debt settlement process and they do periodic credit checks. The Debt Management Group still worked on my behave to settle the accounts that were already in progress. Their is no doubt if I remained in the program I would have received another check for a equal or greater amount and my other accounts removed from my credit report.

3 years ago

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Shawna C Seattle, WA

OMG I can't believe how much they have helped me. I was in debt for legal fees and had to use credit card to live. When I first went into the program they told me not to worry everything will turn out great. I was a little worried as my credit would be low/bad. With debt over $20k I ended up settling with all creditors and walking away with a winning of a lawsuit of $36k. Debt free, stress free and just a simple monthly payment. I feel to grateful for them.

3 years ago

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Alyssa Hampton Bays, NY

I signed up for a 24 month program with The Debt Management Group and was able to get out of all of my debt in 21 months. They did a great job and beat there initial estimates by 3 months. Anytime I had any questions I was able to reach them and the enrolling agent even gave me his cell phone number to contact him in off hours. I would recommend this company to anyone in need.

3 years ago

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Brian Klaung Caledonia, IL

Debt Management Group did an excellent job negotiating my debt with six creditors. Reduced my debt by thousands. Their team was professional and supportive. I would highly recommend them to anyone wanting to get out of debt quickly and safely.

3 years ago

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Cynthia Murfreesboro, TN

I have been in an 8 month program, and this company did exactly what they said they would do. My debt was paid off in 8 months. I was always able to get a hold of someone with any questions or concerns. Reliable, dependable, and effective are the three words I can say about this company. Cynthia

4 years ago

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Giovanni Brooklyn, NY

Been enrolled for over a year and so far everything is going real well. I have been able to reach the office anytime I tried and have made significant gains in settling my debt. The expectations are exactly what I was told. So Far so good. 2 creditors to go should be completely debt free in 6 - 8 more months

4 years ago

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Joseph D New Kensington, PA

This place is horrible. They told lies to get me to sign up. Once that got me in, I received zero communication for 14 months. All they cared about was receiving my payment every month. I have destroyed my credit and had to put my life of hold while I fix this. Before I signed up with them I had never missed or been late for a payment in my life. The lies were told from the start when I asked if this was going to screw up my credit. The response from the salesman(who claims to be a financial advisor) “Nothing I do will hurt your credit”. He used a play on words because it isn’t what he is doing that will screw up my credit. It was me not paying my credit cards bills that screws up my credit. Even though The debt management group is the ones who tell you not to pay your bills. They also tell you to change your address to their address. By doing this you won’t receive any offers a credit card sends you. DO NOT DO THIS!! I missed out on an offer TOUSANDS of dollars less than I actually settled for. Again, all they are concerned about is your payment. I was also told that every bit of my monthly payment goes towards my debt until it is paid off. That also is not true. I asked the salesman how the company made money. His response “we make money off investments.” This is also false. They make 22% off of your total debt. No matter how much they settle for. They use many shady sales techniques to get you to sign up and pay them. After the salesman gets you to sign up. They go through a long documents that you sign electronically. It is so long, and they go through it very quickly and get you to press a button to sign. So everything they told me in lies. They covered themselves in the electronic signing. They even make you sign something that says you can’t bring class action lawsuit against them. I went through the documents so fast I didn’t even see that red flag The debt management group preys on people in tough situations and take some advantage of them. Anyone can do what they do. If you are thinking about signing up. DON’T DO IT. YOU CAN DO ALL OF THIS ON YOUR OWN. All you have to do is stop paying your credit cards. IT WILL SCREW UP YOUR CREDIT!! But after about 4-12 months your creditors will send you offers of about 20-60% of your total debt. Then you just make arrangements with them how you will make the payments. I have a friend who used to work in the debt management industry and he confirmed my thoughts that this is exactly how it works. He said that because of how unethical it is he didn’t work in that industry very long. This company makes money and does nothing for it. They collected thousands in fees from me and I received 1 phone call in 14 months. Unlike the dozens I got to get me to sign up.

3 years ago

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Howard Brooklyn, NY

Unreliable, do not return phone calls, credit card companies cannot contact them because of wrong phone number, no response from their attorney for 60 days, and their attorney denies recognizing you! SCAM alert! They will destroy your credit!

5 years ago