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BHG Financial

BHG Financial review: upfront loan fee scam 58

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7:24 pm EDT
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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

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The complaint has been investigated and resolved to the customer’s satisfaction.

58 comments
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J
J
JustDoNotDoIt
US
Mar 02, 2020 10:44 pm EST
Verified customer This complaint was posted by a verified customer. Learn more

Don't fall for them! You can always do better than BHG. Try SunTrust Bank for all you medicos.
The loan shark operations, the churn of former BHG sales account execs who they pump and dump, and let's see...BHG sold 30% ownership stake to Pinnacle Bank should tell you this private hedge fund firm is all out for the profits at all costs----namely, yours!

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Lacreita Shonta Cheek
US
Jun 14, 2021 1:09 pm EDT

is this a check?

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WBow
Amarillo, US
Sep 14, 2022 10:49 am EDT
Verified customer This complaint was posted by a verified customer. Learn more

I received a loan thru BHG 3 years ago and was told it was for 5 years. I call to see my payoff and date foe last payment and I still have another 5 years to go. I paid for 3 years 8000. a year a total of 24000. and all I have paid on my loan is $8000. I should only have 2 years left not 5.

BHG Financial
BHG Financial
Nov 04, 2022 1:49 pm EDT
Verified customer This complaint was posted by a verified customer. Learn more
Replying to comment of WBow

All BHG loans rates, fees, terms, and conditions are fully disclosed to all applicants prior to accepting a loan and receiving funds from BHG, so that an informed decision can be made accordingly by the applicant. Similar to a traditional mortgage, your payment primarily goes toward interest in the initial stages, with a small amount of principal included. As the months and years go by, the principal portion of the payment steadily increases while the interest portion drops. If you have any additional questions or need further assistance regarding a payoff, please contact 866-588-7910 to speak directly with our Client Services Team.

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Connie M Knight
US
Mar 15, 2023 3:20 am EDT

I purchased 2 fragrance warmers at Walmart. and neither one of them work. I'm quite disappointed in this.please have someone call me at [protected] or cmkni86@gmail.com. I purchased these at Walmart but told me I had to contact you instead.it cost me $12.99 each.

The upc is [protected]. I purchased these a few days ago.

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R
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Roccorocco
NY, US
Jul 27, 2024 11:15 pm EDT
Verified customer This complaint was posted by a verified customer. Learn more

I missed 2 payments due to illness and not being able to work. BHG sent a person to my relative's home to have me served. I called the number to arrange partial payment,which was accepted. The server returned the next day and taped court papers to the front door. These people are trouble. Do not do business with them. You may regret it

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  1. BHG Financial Contacts

  2. BHG Financial phone numbers
    +1 (866) 297-4664
    +1 (866) 297-4664
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    Customer Service
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  4. BHG Financial address
    10234 W. State Road 84, Davie, Florida, 33324, United States
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    Oct 29, 2024