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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.

The Good

  • Over 20 years in the industry
  • Live chat feature
  • 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.

The Bad

  • Transparency with pricing
  • Not accredited
  • Lack of program information

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. This is higher than the industry standard of $7,500.

Negatively Impact 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.

Click Here to View Top Rated Debt Settlement Companies

Frequently Asked Questions

How Much Does The Debt Management Group Cost?

The Debt Management Group does not publicly list any fees for its services on its website. Unless a company is attorney-based, fees are not charged to a consumer until the debt has been resolved with the creditor. Administrative fees are generally included in monthly debt payments for most debt settlement companies in the industry.

Can I get a free consultation?

Yes. The Debt Management Group provides interested consumers with a comprehensive debt analysis and customized savings plan with a financial advisor at no cost. The advisors will also answer any questions the consumer may have during this time.

Does The Debt Management Group Offer a Money-Back Guarantee?

No. The Debt Management Group does not publicly disclose any information regarding a money-back guarantee on its corporate website. Refund policies are typically standard offerings in the industry.

What Types of Debt Does The Debt Management Group Work with?

The Debt Management Group works with credit card debt, mortgages, student loans, and other various unsecured debt. Achieved debt settlement results vary depending on individual circumstances.

Minimum Debt Accepted

As with many similar debt settlement companies, the minimum amount of accepted debt according to the company’s website is $10,000.

More Information

About The Debt Management Group

The Debt Management Group is a New York based company that offers debt settlement, credit counseling, debt consolidation, and paying monthly minimums. Debt settlement is an alternative to bankruptcy that people turn to get out of debt, or reduce their debt to a much lower amount. The company works closely with major banks, and provides a list of past settlement examples on their website.

The Debt Management Group is licensed to help with Debt Relief in the following states:

  • Connecticut
  • Minnesota
  • New Jersey
  • New York
  • Minnesota

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