Quick Answer: Ballast Associates appears to be a scam operation, as Michigan state records show no registered company under this name despite their claimed Bloomfield Hills address. The website was registered only 90 days ago and uses a California postal permit previously associated with suspicious mailings.
A reader sent me a mailer for a company called Ballast Associates who is offering a debt consolidation loan. Their website, ballastassociates.com, was registered just 90 days ago at the time of this posting.
My, I Buy Junk Mail program turns up some interesting marketing information people are getting.
Every weekday I read the enforcement actions, filings and fine print the outlets skip, and turn them into the one or two moves that actually improve your position — a rate worth moving for, a fee you can refuse, a deadline to beat before it costs you.
In the latest issue (Oct 6): When fear picks your debt plan
I write Your Money Actually most weekdays — actionable money information you will not find anywhere else, and the small decisions that compound. It is free, I sell nothing, and I take no money from any company I write about.
According to the mailer and their website, the company is at PO Box 7475, Bloomfield Hills, MI 48302. The mailer came from Postal Permit 1908 in California. That’s a postal permit that has sent out some interesting material in the past.
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The fake check in the mailer was accompanied by the following marketing information.
Now here is an interesting observation, while the company says they are located in Michigan, the State of Michigan says there is no company registered to do business in the state under the name Ballast Associates.
Forget the offer and what it says or if it’s a realistic offer. I would urge anyone who receives this offer to do your own homework, ask questions and check out the company yourself.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
