Name: The Debt Group
Rating: 3.8

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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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User Reviews

Star Rating

3.8

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8 Reviews

Review Breakdown

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50%

4 grade

25%

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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

5 years ago

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