Payday loan, title loan, or personal loan -- Struggling to pay your loan -- Complaint #7132615
Complaint Overview
Complaint ID: 7132615
Company: Bankers Healthcare Group LLC
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Struggling to pay your loan
State: Massachusetts
ZIP Code: 014XX
Date Received: 2023-06-18T12:00:00-05:00
Date Sent to Company: 2023-06-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX In early 2022, I received mail from BHG promising loans specifically for licensed healthcare professionals XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I applied for and quickly received a loan for {$20000.00}. Although the monthly payments of {$430.00} were a struggle to maintain, I made 15 payments for a total of {$6500.00}. Realizing that this loan was a terrible, impulsive mistake on my part, I contacted BHG to inquire about paying the balance in full. I was told that the balance of the loan was {$23000.00}, but that because I was attempting to pay it off early, the payoff amount they offered was {$46000.00}. I told them that this was an obscene amount to expect me to pay on a {$20000.00} loan, and I am currently awaiting another offer. I feel I was targeted by BHG due to my history of using payday loans. I have a mental illness that I am trying to recover from, and I explained this to them, only to be given a bad-faith payoff offer that is well over twice the original value of the loan. In my experience this is a predatory company exploiting vulnerable people.
Frequently Asked Questions
What is Complaint #7132615 about?
Complaint #7132615 was filed against Bankers Healthcare Group LLC regarding Payday loan, title loan, or personal loan specifically about Struggling to pay your loan. It was received by the CFPB on 2023-06-18T12:00:00-05:00.
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, or personal 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.