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Bankers Healthcare Group

Posted:    

Upfront loan fee scam

Complaint Rating:  95 % with 113 votes
95% 113
Contact information:
Bankers healthcare Group
Florida
United States
bhg-inc.com
Beware of BHG! We looked into getting a loan from them. Not only do they charge a prepayment penalty, but they calculate their loan using SIMPLE INTEREST!!! WHO DOES THAT??? In other words, if you take out a 10 year loan for $100K, you will be paying interest on $100K for the ENTIRE LOAN!!! Unlike a normal loan, where the interest payment is compounded or recalculated monthly, quarterly or annually and adjusted downward as you pay off your loan, you are paying whatever their interest rate is for the ENTIRE LIFE OF THE LOAN!!! They quote you an 11.4% rate, but using compound interest, you are really paying over 20%! Plus, they add prepayment penalties so you can't even pay it back early!

SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM SCAM
Complaint comments Comments Complaint country United States Complaint category Loans
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 29th of Jul, 2014 by    +1 Votes
I did apply for this loan. And after over a month of haggling over percentages & prepayment penalties, we came to a mutual agreement. I signed the document, faxed it over and then I received a call that I just needed to initial one last thing... I opened the email and it turned out to be a contract with promissory note claiming my personal residence as collateral. WHAT A TOTAL SCAM. Has anybody else had this experience?
 1st of Aug, 2014 by    0 Votes
I was just solicited by BHG and I am called and emailed daily from the rep. I have ignored this but I am currently considering borrowing for improved cash flow. I am very hesitant in dealing with them based on this and other threads. That said there is a lot of positive press as well. So I am on the fence. When I ask about ball park APR they do not answer me and say its dependent on my worthiness. When I ask what is the lowest APR they have ever offered I get the same response. This make me skittish.
 15th of Sep, 2014 by    0 Votes
This company should be out of business with their predatory lending practices. They are operating a criminal enterprise. Where are the authorities to look into this loan sharking criminal organization? This company is fraudulent and full of all scams. Whatever good reviews that are posted, I can guarantee you that the employees wrote those. I will be making a formal complaint to the State Attorney's office. This company has been deceiving people for too long & it's time they go out of whatever shady business practices that they've always had.
 8th of Oct, 2014 by    0 Votes
They quoted me a loan at a 27% annualized interest rate and the loan doc was one of the longest i have ever seen. This is not a situation you want to get yourself into.
 27th of Oct, 2014 by    0 Votes
SEND ME MY CHECK ! I met them at a trade show. I merely was Trying to get an interest quote for a 15 and 30 yr conventional mortgage for a new clinic building. I have an excellent credit rating, I owe no one. Went through an extensive loan application process, Tax returns personal and business, Profit and loss statements. They came back with a maximum amount 150, 000 at 17%. These are not bankers they are a predatory credit card company. I have credit cards with 9%. SCAM. I Wasted a lot of time on this. O Yeah, at the beginning they promised to be the lowest interest, Said they hadn't been beaten yet. They even said that If they were not the lowest they would write me a check for a thousand dollars, Right. send me my check.
 13th of Apr, 2015 by    0 Votes
I have filed a complaint with North Carolina Attorney Generals office regarding this company. They are running a scam on healthcare workers, the principles appear to have been involved with other companies that were investigated by the FBI and closed. Please file complaints with your states attorney general its easy and online to help shut this and other scammers like this down.
 14th of Aug, 2015 by    0 Votes
Received a card in the mail. I visited the website, gave them my email and let them know I would like to consider consolidating my student debt if they had better terms and asked what the terms would be. After reading through some of these posts, I'm shredding the document and will not be using their service.

Here's exactly what the card in the mail stated, besides any personal information:

1971 Western Ave
PMB 1204
Albany, NY 12203

PLATINUM STATUS NOTICE
Instant Availability: $150, 000
Maximum Credit: $175, 000
Status Expiration: 09/09/15

YOUR BENEFITS
24-Hour Approval, 3-Day Funding
Amounts from $20, 000 to $175, 000
Extended terms up to 10 years
No hard collateral required
Preferred rate

Congratulations Dr. XXX!

I want to be the first to inform you of your upgrade to Platinum status, which makes you eligible to receive up to $150, 000 instantly.

You have been selected because of your clean, active record as a licensed optometrist in Colorado. This is not an offer that I make to every optometrist, but I can only reserve your funds until 9/9/2015

I have authorized the following benefits for your Platinum account:
-Funds in 3 days
-Extended terms up to 10 years
Won't appear on personal credit
-No out-of-pocket costs
-No hard collateral required
-Use funds as you see fit

You will not find an offer like this from any other lender. If you have been thinking about consolidating debt or are simply in need of cash, you need to take advantage of this offer today.

Dr. XXX, I know how busy you are. That is why I'm committed to getting you funded without any hassles, waiting or red tape. Get your terms in just 24 hours with zero cost or obligation. However, you have to act today to take advantage of this one-time offer.

Your colleagues are taking advantage of this offer in record numbers. You can explore your options with no commitment. Can you afford to let this opportunity pass you by?

2 easy ways to activate your reserved working capital today:
1 - Call 866.390.1756 or
2 - Visit your secure personal site at
NameLast87.lxxxactivation.com
(Preferred PIN: ########)

Sincerely,
(signature)
Bob Castro
President & Founder, BHG

Association Partners:
NCPA Corporate Member
Academy of General Dentistry
National Dental Association

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