Complaint Review: BHM Financial Group

I understand that BHM offers secured loans. Yes, high in interest but never they were hiding it from me. It is on the service agreement. The loan officers have been helpful in providing me with the loans. I needed it badly. In return, I respect my agreement by making sure that my payments were always there, on-time.

I by chance came across this ripoff report and was dumbstruck. Whoever you are lady you must be mistaken. This company has literally placed me on my feet again when no other financial institution was willing to look my way. They looked beyond my credit score and income at the time that I was laid off due to a financial setback in the company I was working for.

Thanks to BHM Financial Group I was able to pull myself together financially and have my creditors off my back . I was laid off from a job I had for 15 years with an annual income in the 6 digits. They were so nice to deal with. I felt as if i were talking to real, live people trying to help you out in time of need. Although they are thorough with there work when funding the loan they respect you as a person and keep you updated of the status every step of the way.

During Christmas season I asked them to defer a payment so that I can make it through the holiday season. They were willing to work with me and place it at the very end of the loan term. Of course there was a fee, but I made sure to read through the contract before getting the loan. There were no secrets, I discussed the fees and costs with my loan officer before signing the contract to make sure that I know what I was getting into. NEVER was there any hidden fees in the 3 years that I've been with the company. Once my loan is paid off I plan to place my vehicle up as collateral again and take out another loan. And yups, believe it or not this company is helping me get my credit up again with this loan.

'Takenomore' needs to take no more money if they can't read a contract and pay it back - or more likely get so excited when given any type of money that they just sign whatever and then throw away the contract like trash without knowing what they signed. If this company does not give interest only loans then that is a very un - "predatory" practice.

Myself, I love interest only loans. Its not what you pay but what you can make. If I can pay 15% on a loan to buy an asset that pays me 30% then that is great to me. I like to see everyone make money and they should make whatever they want because I'm not forced to take it. Its just my job to know the numbers and if it will work for me.

To get on here and bad mouth companies that try to help you get yourself out of a jam, and even after they help you won't step up, is disgraceful. 

BHM Financial has contacted me to share my experiences with their company to consumers out there. I am glad to be able to assist them in setting this comment straight as they have helped me greatly in the past and this is the least I could do to repay them.

I got caught into payday loans and was unable to get out of it. I was therefore looking for an institution providing Bad Credit Loans. BHM Financial Group has provided me with a loan, thus getting me out of the Payday Cycle. I tried to be on top of my payments, but due to my limited income I did miss many payments. After a few months of missed payments, BHM Financial contacted me to make payment arrangements. They then extended my loan term; making my payments more affordable.

I understand the frustration of the client who said s/he was bombarded with charges; but I do not think these charges were charged for no reason. I believe the $50 was an NSF fee, which is charged at standard financial institutions.
All in all, I have had a great experience with BHM Financial and would recommend them to anybody with Bad Credit.

BHM Financial Group provides loans to consumers with bad credit across Canada. BHM Financial has helped thousands of Canadians by providing financing. We have never encountered complaints as the ones charged below. We would like to take this opportunity to clarify a few points on the report as this complaint contains hearsay. Obviously we cannot provide proof or details for privacy concerns.

#1 There are no monthly fees or surprise charges. BHM Financial Group charges $50 for NSF payments. It is clearly stipulated in the Credit  Disclosure Statement.

#2 BHM Financial charges for legal notices that are sent via registered mail or personal service only. At no time is principal added to the balance of a loan. The fees do not accrue interest. fees are only charged as outlined in the contract (please view the attached).   BHM Financials loans are structured as amortized loans.  Payments are made in equal, monthly instalments, in part applied to principal and in part to interest. We do not provide interest only loans. Ever. Our loan term is 1-5 years.

#3 As per BHM Financial Groups company policy , our recovery officers work with clients to negotiate easy payment structures. When a client will not respond to our emails, phone calls or registered notices, we are left with no  resort but to recover our losses through vehicle recovery. Even after we seize their vehicle BHM will provide 21 days for our clients to redeem their vehicles. If our client's show interest interest during the 21 days but are unable to come up with extra cash so soon, BHM Financial will extend the amount of time the client has to redeem the vehicle.

Our commitment is to satisfy our clients and help them with their financial needs.