Payday loan, title loan, personal loan, or advance loan -- Problem with the payoff process at the end of the loan -- Complaint #16814130
Complaint Overview
Complaint ID: 16814130
Company: Bankers Healthcare Group LLC
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Problem with the payoff process at the end of the loan
State: Minnesota
ZIP Code: XXXXX
Date Received: 2025-10-24T12:00:00-05:00
Date Sent to Company: 2025-10-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Subject : Unauthorized Debits and Disputed Loan Payoff BHG Financial Loan No. XXXX Summary : BHG Financial issued two conflicting payoff statements for my loan, then accepted a payment under one of those statements, later retracted its own confirmation, and continued to withdraw funds from my account without authorization even after formal dispute notice. Details : On XX/XX/year>, BHG Financial issued an official payoff statement for {$73000.00}, which I authorized in full. Later that same day, BHG sent a revised written payoff quote for {$43000.00} as of today. I relied on that written representation in good faith, approved the debit, and received multiple confirmations by phone and email that the account was paid in full and that a satisfaction letter would follow. On XX/XX/year>, BHG acknowledged that the revised payoff amount resulted from a typo and payment-processing error. Despite that admission, BHG attempted to re-establish a {$30000.00} balance, characterizing the error as internal but continuing to assert collection rights. On XXXX XXXX XXXX XXXX XXXX, I provided written notice that the account was under formal dispute and that no further withdrawals were authorized under Regulation E and applicable consumer-protection laws. Nevertheless, on XX/XX/XXXX, BHG initiated a new debit from my bank account for {$1400.00} without consent. When I objected, BHGs representative, XXXX XXXX, responded in writing that payment withdrawals will continue until your loan balance has been fully satisfied, openly acknowledging intent to continue debiting during an active dispute. This conduct violates : Regulation E ( 12 CFR 1005.10 and 1005.11 ) unauthorized electronic fund transfers after revocation ; UDAP standards ( 12 USC 5531 ) unfair and deceptive acts ; and State consumer-protection laws governing unauthorized withdrawals and deceptive collection practices.
Frequently Asked Questions
What is Complaint #16814130 about?
Complaint #16814130 was filed against Bankers Healthcare Group LLC regarding Payday loan, title loan, personal loan, or advance loan specifically about Problem with the payoff process at the end of the loan. It was received by the CFPB on 2025-10-24T12:00:00-05:00.
How did Bankers Healthcare Group LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Bankers Healthcare Group LLC?
Yes, visit the Bankers Healthcare Group LLC company profile at readthecomplaint.com/company/bankers-healthcare-group-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.