I have read many webmaster discussion forums and comments on blog posts where most of the webmaster community is making a complaint that Google Disavow Tool did not work for them or it is not of any use and many more. Most of web owners claim that by using this tool you cannot be out of Google unnatural link penalty or if you come out, your ranking will not come back
I do not agree with this. Google Disavow Tool is wonderful tool invented by Google search spam team to deal with negative SEO and people asking money for link removal and best to get rid of bad, spam or inorganic backlinks. I think most of the webmaster does not know how to use this. First when you remove the unnatural backlinks from your links profile it is confirmed that you have lost some links juice and you need to fill it again. Sometime webmaster or SEO remove the good links or make mistake in it use. Some time you wrongly ban a domain which is good. Google has also issued warning to use it with care otherwise it will harm your ranking.
In a recent poll conducted by SEroundtable
Poll: Does Google’s Disavow Tool Work?
50% says NO