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3.8 26 Reviews

BHG Financial Complaints Summary

18 Resolved
8 Unresolved
Our verdict: With a good resolution rate, BHG Financial generally handles customer issues well. However, it’s important to be proactive. Familiarize yourself with their processes and services. Reading through various customer experiences will provide valuable insights into how they handle complex issues.
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BHG Financial reviews & complaints 26

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1:23 pm EST

BHG Financial application for a loan from them

I applied for a loan from them gave my information to them including my ss number now I feel I have been scammed by them. Everyone will have excess to all my information. I fill my life will not be the same and I should have went with my gut feeling's. If I had a way of suing these companies for this way of cheating good people out of there hard earned money I would be all for it. They don't put all that in there information they send you what so ever and they need put out of justice.

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mommabear1975
, US
Oct 16, 2020 1:20 am EDT
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I feel they scammed me and gave me a high interest rate

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7:05 pm EDT
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BHG Financial working capital loan

I had received multiple letters from "Bob Castro, founder, Bankers Healthcare Group" claiming to offer me great loan terms and that their process is very fast and straight forward. They claim to have me selected and they offer "special incentives and satisfactory loan terms". Letter keeps talking about "special offer". I called, filled out a short application and process started. They needed more and more info and for me to sign different forms. At one point I told them that I'm done with their incompetence and drastically long /complex process. And BOOM! I got a call that I'm approved for something... Next day I get a call with offer of $50k loan with 84 payments of $ 1421.46 a month which comes to about $120k total payout. They didn't want to tell what is the interest rate. I kept pressing to tell me and the guy said it was 23%! That's outrageous! They said based on my profile it's the best they can do. I haven't missed any payments on any of my obligations in past almost 5 yrs of having my business. My unsecured credit cards have 14%interest rate and I recently financed a vehicle at 5% interest.
That company is a scam and they lure in many businesses owners with their false statements and false promises.

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Worried Registered Nurse
, US
Jun 28, 2022 4:08 pm EDT

I am really afraid right now. I applied for a loan with BHG was approved for 55,000 at 19.34% interest. 8 years with 5 year lock out. I have only supplied my pay stubs and driver’s license with of course my social security number and personal info. I have been ignoring the calls and haven’t provided my bank info or signed the contract. Is there anything I can do to stop my credit from being affected. I was hit in the past after a breakup and have some bills in arrears that I was wanting to pay them off and pay off current bills and have one payment. I’m afraid my identity is going to be stolen or worse. Anything I can do?

BHG Financial
BHG Financial
Nov 04, 2022 2:06 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

BHG shares in your concern regarding identity theft. BHG is committed to protecting consumer privacy and utilizes multiple identity theft prevention methods. Identity theft hurts everyone, not only the person whose identity is stolen, but financial institutions also lose out on stolen funds. In order to get a loan with BHG an applicant will have to go through a thorough application and underwriting process which includes a full identity verification prior to receiving any funds. At BHG, we have invested significantly into building an industry-leading fraud prevention program that delivers on our commitment of protecting your privacy, your information, and your trust in BHG. We work diligently to provide robust and effective verification options for each customer prior to receiving any funds, or opening any BHG financial products. In our over 20 years in business, we’ve provided thousands of happy customers with over $12 billion in funding, with many of our customers returning to us for repeat loans. We’ve maintained an A+ rating with the Better Business Bureau, all the while making it our mission to build up this company on the tenets of service and integrity. With that said, when applying for a loan you won’t experience any negative impact on your personal credit score. However, we do run a credit check upon acceptance and funding of a loan, as is standard lending industry practice. We have Sales and Client Services teams who are dedicated to helping customers navigate the loan process, so we do recommend directly connecting with us at 866-588-7910 if you should still have any questions or concerns.

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CLC2021
, US
Jan 09, 2021 12:38 pm EST

Oh, I forgot to offer thanks for their offer for me to re-apply for future financial needs. No need to worry about that. I and all my medical arena co-workers will be cautioned in the future. Word of mouth advertising (positive or negative) is wonderous!

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CLC2021
, US
Jan 09, 2021 12:30 pm EST

I may have dodged a financial bullet! After reading comments on this website, from use of compound interest to higher interest rates and front end fees and potential early pay penalties, I'm relieved to have been declined. I even advised them up front what interest rate I was not willing to pay over! Should have conducted a little more research on the front end. No late fees or bills, having closed on 3 home mortgages within the last 2 years and buying 2 new cars last year (paid off 1 already) and seeking to borrow less than 6 months income to reorganize finances (not create new debt) without going through the HELOC process. I cleared the initial application parameters with ease. I guess they are searching for young professional clients who will be obligated for a while! Thanks BHG for the awakening!

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9:05 am EDT
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BHG Financial loan - run off the road after declined loan

I was wondering if anyone has has any bad accidents that were perhaps anonymous after declining a BHG loan.
I know it sounds like a stretch, but after 30 years of not even a fender bender, being run off the road in my area is so very unusual. It happened 3 days after declining a loan with terrible interest rates and fees. In order to get the interest rate the company did collect my personal and practice financials. They would know how much personal funds were invested in this first year of my practice and that things are very tight.
Believe me, the accident did make me reconsider the loan for about a minute.
Then I remembered an incident that happened in a previous state that I lived in. A company had hired someone to go around and cause damage to cars in the middle of the night to boost their repair business. Everyone knew it but none could prove it.
I might have just had bad luck but thought that I would ask. Potentially, people would not put the 2 events together.
Thank you in advance for your responses.

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11:36 am EDT

BHG Financial lack of professionalism

On 3/30/2018, I received a mail regarding this company. (My Clint # 296298)
I thought it was decent to trying to find my options by asking the quote first.
Once I filled out the application through the BHG's website, there were so fast (less then an hour) to look up my credit score and other information
(wow). They seemed to be in a rush for trying to send out the paper forms and having me sign the paper. However, right before signing that all of papers... TGIF that I had a chance to read these horrible reviews about this company. I was having hard time with my school debt for 7% interest... but when I found out how much of the interest (20%!)

I was almost having a heart attack... I sent the email back and Called them up right away,,, for deleting my personal information especially my Social number... Now I need to heads up for any unusual activity using my identity.
Thank you so much... this website saved my life!

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christianadesouza
, US
Apr 06, 2018 11:54 pm EDT

I have an advance with them. I acquired $100, 000 and following 4 years of on-time installments of $2350/month, despite everything I owe $75, 000 in foremost and still have an additional 3 years of installments left to make. There is a lockout so you can't renegotiate for a long time. I will presumably be paying $150, 000 in enthusiasm on a $100, 000 credit. I would not prescribe this to anybody. Go to a genuine bank and apply for a loan.I justed reacted on the web however i'm not going to manage them now. This business sounds terrifying. Most exceedingly bad thing I gave them my ss#. I have extortion assurance so I will simply be vigilant for any unusual action. Much obliged for the posts.

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11:56 am EST

BHG Financial Bank card

My identity was stolen last year and I got an over to borrow $175, 000 from these known scammers. They say it is just marketing and they got my name from the list of Michigan Licensed Physicians roster. It is my understanding that I am not to receive this type of solicitation after filing with credit reporting agencies and IRS.

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christianadesouza
, US
Aug 19, 2017 6:22 am EDT
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christianadesouza
, US
Aug 19, 2017 6:21 am EDT

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christianadesouza
, US
Aug 19, 2017 2:03 am EDT

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7:24 pm EDT
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Featured review
This review was chosen algorithmically as the most valued customer feedback.

BHG Financial - upfront loan fee scam

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...

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Frequently asked questions (FAQ) about BHG Financial

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Is BHG Financial a legitimate financial services company?

BHG Financial refers to Bankers Healthcare Group, a legitimate company providing financial solutions primarily for healthcare professionals.

Can I trust BHG Financial with my personal and financial information?

BHG Financial has security measures in place to protect user data, but it's always a good idea to read their privacy policy to understand how your information is used.

Are the loan products offered by BHG Financial reliable and trustworthy?

BHG Financial offers various loan products, and while they are generally reliable, it's essential to research and compare terms and conditions to ensure they meet your needs.

What is the reputation of BHG Financial in the financial services industry?

BHG Financial has been in business since 2001 and has a positive reputation in the industry. However, it's important to read reviews from different sources for a well-rounded understanding.

Is BHG Financial transparent about its fees and interest rates?

BHG Financial aims to provide transparency regarding fees and interest rates, but always review the terms and conditions of any loan product before signing an agreement.

How reliable is BHG Financial's customer service?

BHG Financial offers customer support through various channels, but individual experiences may vary. Be sure to check online reviews for a better understanding of customer satisfaction.

Are there any known scams associated with BHG Financial?

Like any financial services company, BHG Financial may occasionally be targeted by scammers. It's important to be vigilant and report any suspicious activity to their customer service.

How does BHG Financial handle loan applications and approvals?

BHG Financial has a loan application process that includes submitting necessary documentation and credit checks. Approval times may vary depending on the specific loan product.

Are the online reviews about BHG Financial genuine and trustworthy?

When researching BHG Financial, read multiple reviews from different sources to get a well-rounded understanding of the company.

Does BHG Financial have any partnerships or affiliations with reputable organizations?

BHG Financial is affiliated with various organizations, but it's essential to research the company independently to assess its legitimacy.

Is BHG Financial's website secure for submitting sensitive information?

BHG Financial's website uses encryption and secure technology to protect user data during online transactions.

How does BHG Financial compare to other financial service providers?

BHG Financial offers specialized financial solutions for healthcare professionals, but it's important to compare their services and terms with other providers to find the best fit for your needs.

Are there any hidden fees associated with BHG Financial's loan products?

Always review the terms and conditions of any loan product from BHG Financial to understand any additional charges or fees that may apply.

How long has BHG Financial been in business?

BHG Financial, or Bankers Healthcare Group, has been in business since 2001.

Can I trust BHG Financial with my credit card information?

BHG Financial uses secure technology to protect your payment information, but it's always a good idea to monitor your statements for any suspicious activity.

Does BHG Financial offer flexible repayment options for its loans?

BHG Financial may offer flexible repayment options for some loan products, but it's essential to review the terms and conditions to understand the available options.

How does BHG Financial handle loan defaults or late payments?

BHG Financial has policies in place for handling loan defaults or late payments. Review the terms and conditions of your loan agreement to understand the potential consequences.

Is BHG Financial licensed and regulated by relevant authorities?

BHG Financial is subject to regulation by applicable federal and state financial regulatory agencies.

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