Is your BHG Financial loan in default?
Bottom line: BHG Financial, the brand name of Bankers Healthcare Group, is a legitimate lender, but falling behind on a BHG loan can lead to collection calls, a lawsuit, and garnishment after a court judgment. Your rights depend on whether your loan is personal or business. Tayne Law Group can review your loan and deal with BHG or its collectors for you.
BHG Financial quick facts
- Company: Bankers Healthcare Group, LLC, doing business as BHG Financial, founded in 2001
- Offers: Unsecured personal loans up to $250,000 and business loans up to $500,000
- Customer service: 866-588-7910 or customerservice@bhg-inc.com
- Main offices: Fort Lauderdale, FL; Davie, FL; and Syracuse, NY (NMLS ID 2040829)
- BBB rating: A+, with 147 complaints over the past three years (as of September 2026)
Struggling with your debt?
Who is BHG Financial?
BHG Financial is the brand name of Bankers Healthcare Group, LLC. Al Crawford, Eric Castro, and Bobby Castro founded the company in 2001, and it started out lending mainly to doctors and other healthcare professionals.
Today, BHG makes large personal and business loans to high-income professionals and says it has provided more than $29 billion in financing. BHG is a direct lender, not a bank. Its consumer loans are funded through partner banks, and Pinnacle Bank, a Tennessee bank, owns 49% of the company.
Is BHG Financial legit?
Yes. BHG Financial is a real, licensed lender. As of September 2026, it holds an A+ rating from the Better Business Bureau (BBB) and has been BBB accredited since 2018.
Being legitimate doesn’t mean every borrower has a good experience. As of September 2026, BHG’s BBB profile lists 147 complaints over the past three years, with 34 closed in the past 12 months. Common themes include final rates and fees much higher than a prequalified offer, trouble getting account statements, and unwanted mail offers.
BHG disputes many of these complaints in its public responses. You can also search complaints filed against Bankers Healthcare Group in the Consumer Financial Protection Bureau (CFPB) complaint database.
How much does BHG Financial lend, and at what rates?
BHG offers personal loans up to $250,000 with terms of up to 10 years, and it requires verifiable income of at least $100,000. It lists personal loan APRs (annual percentage rates, the yearly cost of the loan including fees) from 8.72% to 27.87%.
Business loans go up to $500,000 with terms of up to 12 years, and BHG lists business loan APRs as high as 41.26%. Large balances at high rates can mean monthly payments that are hard to keep up with if your income drops.
Is BHG Financial a merchant cash advance company?
No. BHG makes traditional loans with fixed monthly payments, not merchant cash advances repaid from your daily sales.
The trouble can look similar, though. BHG business loans can carry a personal guarantee (a promise that you’ll repay the loan yourself if your business can’t), so the debt can follow you even if your business closes.
What was the BHG Financial data breach?
In January 2026, BHG began notifying customers about a data security incident. Reports say the exposed information included names, Social Security numbers, and financial account details. A proposed class action lawsuit over the breach was filed in federal court in Florida in February 2026.
If you got a breach notice, be extra careful with anyone who contacts you about a BHG debt. Scammers can use stolen details to sound convincing, so always confirm a call or letter directly with BHG before you pay anything.
What happens if you default on a BHG Financial loan?
When you miss payments, BHG usually collects the debt itself first through calls, emails, and letters. If your loan has automatic payments, BHG may keep trying to draft your bank account under the terms of your agreement.
If you stay behind, BHG may send the account to an outside collection agency or law firm, or it may sue you. Some borrowers report that BHG moves to legal action quickly, and even a written-off loan can still lead to a lawsuit, as our guide on being sued for a charged-off debt explains.
Business borrowers may also see a UCC lien (a public notice claiming a right to certain business assets). Learn whether a UCC filing affects your personal credit.
Does the FDCPA protect you from BHG Financial?
Usually not while BHG collects its own loans. The Fair Debt Collection Practices Act (FDCPA), a federal law that limits what debt collectors can do, mainly covers outside collection agencies and law firms. That changes if BHG hands a personal loan off to an outside collector.
Collectors covered by the FDCPA can’t harass you, threaten you, or lie about what you owe, and they must send you written notice of the debt. Learn more about what debt collectors can and can’t do and read the Federal Trade Commission’s debt collection FAQs.
If your BHG loan is a business loan, the FDCPA does not apply, so your rights depend mostly on your loan agreement and state law.
What happens if BHG Financial sues you?
A BHG lawsuit starts when you’re served with a summons and complaint. The summons tells you that you’re being sued, and the complaint lists what BHG says you owe and why.
You usually have 20 to 30 days to respond, depending on your state and how you were served. Check the papers you received for your exact deadline.
If you miss the deadline, BHG can ask for a default judgment (a ruling against you because you didn’t respond). If that has already happened, see our guide on how to respond to a motion for default judgment. If you do respond, many cases end with a negotiated agreement before trial.
Can BHG Financial garnish your wages or freeze your bank account?
Not just because you’re behind. BHG first has to win a judgment in court.
After a judgment, the law limits how much of your pay can be garnished, and some income, like Social Security, is protected. Business owners should also know whether a business bank account can be garnished for a personal judgment.
How long does BHG Financial have to sue you?
There is a legal deadline, called the statute of limitations, for filing a lawsuit over a debt. How long it is depends on your state, the type of loan, and what your loan agreement says.
Learn more in our guide to the statute of limitations on debt.
How do you file a complaint against BHG Financial?
If you believe BHG or a collector working for it treated you unfairly, you can file a complaint with the CFPB, the New York Attorney General, or the BBB. You can also report deceptive practices to the Federal Trade Commission (FTC).
How do you contact BHG Financial?
BHG customer service is at 866-588-7910 or customerservice@bhg-inc.com. Hours are Monday to Friday, 8:00 AM to 9:00 PM ET, and Saturday, 9:00 AM to 12:00 PM ET.
BHG’s corporate headquarters is at 201 East Las Olas Boulevard, Suite 2450, Fort Lauderdale, FL 33301. Its sales and technology office is at 10234 West State Road 84, Davie, FL 33324, and its financial headquarters is at 201 Solar Street, Syracuse, NY 13204.
You can also use the contact form on BHG’s website to request loan documents, a payoff amount, or your payment history.
What to do if BHG Financial contacts you
- Confirm it’s really BHG by calling 866-588-7910, the number on its official website, not a number from a text, email, or voicemail.
- Request your loan agreement, an itemized balance, and your payment history. If an outside collector contacts you, ask for a debt validation letter.
- Check whether your loan is personal or business, since that decides which consumer protections apply.
- Keep every letter and email, and write down the date, name, and details of each phone call.
- Never ignore court papers. Write down the date you were served, because missing the deadline can lead to an automatic judgment.
- Never pay by gift card, wire transfer, or payment app to anyone you haven’t verified. Debt collector scams are common, especially after a data breach.
- Talk to a debt relief attorney before you agree to a new payment plan or negotiate a lump sum. Get any agreement in writing before you pay.
How Tayne Law Group can help
An attorney can review your BHG loan agreement, confirm whether it’s a personal or business loan, and explain which protections apply to you. We can also communicate with BHG or its collectors for you and respond if you’re sued.
Tayne Law Group has more than 25 years of experience with personal loan debt relief and business debt relief. We also help people with debt owed to lenders and creditors like Headway Capital, Fora Financial, Synchrony Bank, and Discover Bank.
Call 866-890-7337 or reach us through our contact form to start with a free phone consultation. We never share or sell your information, and all conversations are confidential.
Struggling with your debt?
FAQs about BHG Financial
Does BHG Financial sue borrowers?
Yes. Like other lenders, BHG can sue borrowers who stop paying, and some borrowers report that it moves to legal action quickly. If you’re served with a BHG Financial lawsuit, respond before your deadline and get legal advice.
Can you negotiate a BHG Financial debt?
Often, yes, especially once an account is past due or sent to a collector. Know what you can realistically afford, and get any agreement in writing before you pay.
Is BHG Financial a bank?
No. BHG is a direct lender that manages its loans, but partner banks fund its consumer loans. BHG does not offer checking or savings accounts.
What credit score do you need for a BHG personal loan?
BHG doesn’t publish a minimum credit score. It says its average personal loan customer has a FICO score of 730, and it requires at least $100,000 in verifiable income.
Leslie H. Tayne, Esq. is a New York debt relief attorney and the founder of Tayne Law Group, P.C. With more than 25 years of experience, she focuses on consumer and business debt resolution, including merchant cash advance (MCA) debt, credit card debt, and small business debt. Leslie earned her J.D. from Touro Law Center and holds a B.A. in Public Affairs from SUNY Albany.
She is the author of Life & Debt: A Fresh Approach to Achieving Financial Wellness. A New York Super Lawyer from 2015 to 2024, Leslie is regularly quoted as a financial expert by CBS News, Forbes, The Wall Street Journal, CNBC, Consumer Reports, and other national outlets.