866-390-1756

I''m a health professional and have received two separate envelopes containing what I believe is supposed to appear to be medical insurance cards with a Wash. DC return address.

The last one says activate at the 866 # for no cost or commitment and receive a wire transfer in only 5 days.

My title appears on these, since state licenses and certificates are public information.

Card says "Instatnt avalability of $150,000 a Pin Number and expiration date 3 weeks from now.

I am also a physician.  I received a letter from a company claiming to be Bankers Healthcare Group (BHG).  The return address is

1971 Western Ave.
PMB 1204
Albany, NY  12203

It came with what appears to be a "platinum" credit card (but no MasterCard or Visa logo on it; no magnetic strip on the back).  I am prompted to call the 866# to activate the card.

Just received the same card with same return address. It says zero commitment, $150,000 instantly available. This is obviously a scam ,

Looks like a very clever scam. I am a physical therapist in Pennsylvania, and I know that anyone can buy the list of licensed PTs and their addresses from the state. I got a letter and plastic card, not a phone call.

RECEIVED UNSOLICITED REQUEST FOR ME TO CALL ANT ACTIVATE A LOAD ACCOUNT FOR 150,000 DOLLARS WITH 3 DAY WAIT.  NAM IS LISTED AS ASSOCIALTION PARTNERS.  BOB CASTRO IS PRESIDENT AND FOUNDER OF BHG.  ADDRESS 20 F STREET 7TH FLOOR, PMB 707 WASHINGTON, DC IS WALL DECORATIONS AND NOT AN OFFICE NUMBER.

I ALSO HAVE RECEIVED 2 03 INVITATIONS AS DESCRIBED ABOVE. FOUND THIS INFO ON LINE BY GOOGLING "BOB CASTRO
PRESIDENT AND FOUNDER, BHG"

About Bankers Healthcare Group
Since 2001, Bankers Healthcare Group has been committed to providing hassle-free financing solutions for healthcare professionals, allowing them to remain focused on delivering high quality care. BHG has provided more than $2 billion in funding to thousands of satisfied customers nationwide. Inc. has recognized the company nine times for growth and job creation. For additional information, please visit www.bhg-inc.com.

Contact: Annette Hogan (315) 671-4111

Got one of these cards today. this came from 1971 Western Ave pmb 1204 Albany NY 12203..
played around with the numbers found they had a very old phone number for me that has not
been used in 5 years or longer...
Clearly some scam

Anyone receiving cards in the mail indicating some sort of scam--please take it to your local post office and have the postal inspectors look into it.  It could be some form of Mail Fraud.

I didn't get a phone call, I work the night shift and there was a envelope taped to the nursing desk and it was for me.  They sent the letter to my job.  The letter have me listed as a licensed nurse practitioner and there was a plastic card platinum card that stated I could receive $150,000 instant with a max of $175,000 if I respond by 8/12/15.  I could activate the card on line by using first and last name with.LoanActivation.com after my name this is supposed to be my secure personal site and use the pin number provided or I could call 866-390-1756 and give pin number.  bob Castro is listed as President& Founder,BHG  address listed is 1971 Western Ave PMB 1204 Albany, NY 12203.  No company name is listed. I called the number while at work it was 4am and the recording stated " Thank you for calling Bankers please hold and someone will be with shortly."  Seem to me the recording should have said we are closed and give business hours at that time of the morning.  After a while I hung up the phone.  I have a big problem with them sending this crap to my place of employment, if they have that much information about me they could have at least sent it to my home and not my job.

This is obviously an advance fee loan scam.  This is the company you are talking about:  https://bhg-inc.com/locations
Bloomberg lists the head criminals at this organization:  http://www.bloomberg.com/research/stocks/priv ... vcapId=27943455
Now the BBB gives them an accredited A+ rating with 9 complaints.  However the proof is in those complaints.  The second unresolved complaints lists figures that would scare the heck out of anyone.  I would have to wonder how any educated person would even accept those terms.
http://www.bbb.org/south-east-florida/busines ... vie-fl-26001306
A payoff quote of $130K, was given on a simple interest loan of $167K for which I had already paid back ~$130K after 3 years. No interest rate stated.
Applied for loan of $150K. Upfront charges were $10.5K for personal guaranty, servicing fee $3,510.04, closing cost $2,995.00, interim rent $584.50, making loan amount $167,005.04. Loan check received was $149,415.50. Term of loan 84 months. Monthly payments of $3,510.04 have been made by ACH debit to my checking account starting April 2011. A total of over $126K had been repaid when I requested the payoff quote in April 2014. There was a penalty of 6.99% of the loan amount for early payoff after 36 months. The closing documents of the loan never reflected the interest rate of 15% to which I had agreed. From my calculation the payback on a simple interest loan of $167,000.00 at 15% interest rate is $192,000.00. The early payoff penalty on $167K at 6.99% is $11,673.00. So by my calculation the amount owed after 36 months is $192,000.00 + $11,673.00 = $203,673.00. After already paying $126,360.00, payoff on this loan should be $203,673.00 -$126,360.00 which is $77,313.00. The discrepancy in the amount quoted me is $52,687.00. I have emailed and spoken by telephone to many people on the financial team asking for an explanation to this discrepancy and no comprehensible or satisfactory response has been given. The highest official on the financial team, ****** ******* was the last person I communicated with and he reiterated the payoff of $130K without negotiating any settlement. The loan officer I worked with to secure the loan is ******* ********* The loan/contract # is #XXXXXX. The funds were issued on check ***** on 03/29/11 from the financial institution Bankers Healthcare Group Inc. Florida Office: **** ********* ***** ********* ********* ******** Florida XXXXX.
As I review my loan contract and documents given to me many questions arise regarding Truth in Lending. For example when I question why my loan contract did not reflect the interest rate on the loan I was told that it was not necessary to disclose the interest rate on a loan document. Also for the term of 84 months on the cost of a loan of $192,000.00, the monthly payment should have been $2,285.71, not $3,510.00 that I had been paying. I had no problem paying $3510.00 since it would allow me to payoff the loan more quickly.
Please note that all of my loan documents specified that this was a SIMPLE INTEREST loan and from my understanding this means that interest does not accrue or add up during the payoff period.
I am now financially able to pay off this loan but not with the payoff quote I was given.

Desired Settlement
I am seeking to settle this conflict with a payoff on my loan in the amount of $77,313.00.
Also I want BHG to be held accountable for a breach of Truth IN LENDING.

Business Response
Unfortunately the numbers and calculations given by the borrower are not correct and do not reflect the agreement. We have repeatedly given these numbers and the correct calculations to this borrower. They are as follow: The borrower had a balance as of 5/5/14 payment of $117,773.96, the payoff was requested on May 29 giving 24 days of per diem interest at $58.89/day equaling $1,413.36. Additionally the documents call for a prepayment penalty of 6.99% of the original amount borrowed = $11,673.65 ($167,005.04 x .0699 = 11,673.65). All this comes out to a payoff of $130,860.97 on that particular date the payoff was requested.

This has and had been explained to the doctor multiple times verbally and in writing. Subsequently the doctor asked for another payoff that was given in writing some days later and the payoff calculated was $131,037.63. This figure was more because of the per diem interest. This payoff was also explained to the doctor verbally.

Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
BHG has not satisfactorily explained how they arrived at an outstanding balance of $117K in May 2014, on a loan of $167K for which I had already paid back in excess of $130K. They have also not addressed the fact that the interest rate on the loan was never stated in the loan contract, a Truth In Lending breach. Additionally they have not explained why monthly payment was $3,510.00 on an 84 month Simple Interest loan of $167K.

Final Business Response
We did explain how we arrived at the numbers. The numbers are cut and dry it is not subjective. It is listed in the previous reply and is accurate.

This is not a consumer loan its a commercial loan unless the doctor defrauded our company and lied about the use. As a result of it being a commercial loan a Truth In Lending statement is not required and the interest rate being on the note is also NOT a breach of Truth in Lending. In a commercial note as long as the interest rate is calculable to a sum certain that is all that is required. Our note states the principal amount, payment amount and term. From this the interest rate is easily calculable to a sum certain.

Final Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
Could BHG explain to me and the BBB how they arrived at a monthly payment of ~$3500.00 on a loan amount of $167K, that was clearly stated as Simple Interest for a term of 84 months?

$3500 for 84 months comes to $294,000.  That would mean an interest rate of 76%

Take that envelope and the letter and send it to the postal inspectors.

I did not receive any calls but an extremely fancy envelope that included return address on "20 F Street
7th Floor, PMB 707 Washington DC " in beautiful shade of gray. I suspect Madison Avenue work here and would bet that there is nothing on F Street. So for the heck of it I googled it and wow, it popped up with the exact phone number and Bob Castro name. With this type of promotions if people don't report it there are going to be some victims. Phone number is 866-390-1756.

Forgot to add on 10/1/15 that 1) Mr. Castro used sub-prime postage ie 41.7 cents, typical of scammers.  2)
Next, my suspicion is that he may be using 3-D printing to create these glossy "notices". Again, I did not receive a call , but would like to alert public about this.

I am a PT in NY and just received the same grey card from PMB on 1971 western ave. saying to call 866-390-1756 to activate for a credit line.  It is obviously a scam so I shredded it

I am an RN and received the "Platinum Status Card"  with a credit limit of $175,000 * subject to credit approval if I respond by 12/09/2015. Signed by Bob Castro, BHG. Return address: 20 F street 7th Floor, PMP 707 Washington DC 20001.

We've received any number of these, claiming to be from different companies, all enclosing a card for $100,000 + .  This last one with this phone # is one I will report for mail fraud.  This one has a return address in Davie, FL  33324, and misleadingly says '$2,000 Fine or 5 Yrs. Imprisonment or both for any person who interferes with or obstructs delivery of this letter of otherwise violates - 18 United States Code 1702 et seq.' which makes it appear to be some sort of  official government letter.  Note that this is yet another return address - not DC or NY.  I suggest reporting these - to USPS for mail fraud, and if called, to DoNotCall.

This is scam, trying to gey SS number and DOB.I hope FBI catch this fraud.

I realize this post is 2 years old.  However, I received an offer from BHG and I'm poking around looking to do my due diligence in considering replying to their offer.
I checked some of the numbers you provided and I think there is a major flaw in your calculations.  Simple interest of 15% does not mean a flat 15% regardless of the loan term.  It means that they won't compound interest....they won't charge you interest on unpaid interest.  Instead, you pay 15% of the unpaid balance for as many days as the balance is outstanding.....so the calculation is the loan balance * 15% * 1/365 (days).  Given the amounts you provided, that would be over $100k if the loan was paid back over 84 months.

I understand perfectly what simple interest is.  Those are not my calculations.  That is a quote of a complaint at the BBB that was posted at that time.  I suppose I made an error by not enclosing it in quotation marks at the time the post was made.  I did however cite the source.  It appears that BHG is charging a lot of upfront fees, and is not truthful with their lending documents.  If you think that is a good company to deal with, good luck.  I still get offers for business loans from places like this.  If I were still in business I would have any dealings with these places.