Barron Advisors Debt Consolidation Loan Mailer – Suspicious

This debt consolidation loan mailer a reader received deserves some special attention if you are thinking of jumping in.

So here is what caught my attention.

The mailer claims the website of the company is mybarronadvisors.com which redirects to barronadvisors.com. Domain Tools says that domain was registered 78 days ago. – Source

The website says the company is located in Bloomfield Hills, MI at a P.O. Box.

But what is interesting is the State of Michigan says there is no company registered to do business in Michigan under the name Barron Advisors. – Source

This mailer was sent to me through my I Buy Junk Mail program. If you have junk mail you’d like to sell, click here. To see other mailers, click here.

Here is the biggest clue I found on the Barron Advisors disclosure page.

“Barron Advisors is not an agent of you or any lender. Barron Advisors services are only administrative. Barron Advisors is a paid marketing lead generator.”

They go on to say, “Barron Advisors is not a lender in any transaction and does not make loans, loan commitments, or lock rates. All credit decisions, including loan approvals, and the conditional rates and terms you are offered, are the responsibility of the participating lenders and will vary based upon your loan request, your particular financial situation, and criteria determined by the lenders to whom you are matched. Not all consumers will qualify for the advertised rates and terms.”

Yet the mailer from Barron Advisors says “You have been pre-approved for a Debt Consolidation Loan of up to $70,000 with an Annual Percentage Rate as low as 3.76%.”

So who approved what then?

Apparently, Barron Advisors sent out a press release last month that makes the following claims: – Source

  • “Debt consolidation program by Barron Advisors provides a sense of relief for the consumer who has become trapped under a mountain of debt.”
  • “The program will also help consumers manage their monthly budget. Replacing several payments with one easy payment takes much of the stress out of paying bills each month.”
  • “This program by a highly trusted financial advisor will help customers get their finances looking good again.”
See also  Bicoastal Funding Debt Consolidation Loan Offer Review

But Barron Advisors is just a lead generator?

As I see it the mailer and website from Barron Advisors makes claims for programs and services they don’t seem to offer if they are just a lead generation company.

I did get a laugh from the press release that says the contact person is “info.”

And as an additional interesting bonus, the testimonial from Suzannah in Raleigh, NC says, “Without a consolidation loan from Barron Advisors…” but doesn’t Barron Advisors say they don’t make loans. Hum.

I would recommend that anyone considering using such a company should read the following free guides.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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