Consumer complaint received 2023-04-17
Company: Triton Management Group, Inc
State: AL
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Charged fees or interest you didn't expect

Complaint:
I received several notices by mail from a company identified as Always Money ( which, in retrospect, coincided with dates I had accepted contract jobs as an XXXX XXXXXXXX ). the final one that came in XX/XX/XXXX which I accepted in the amount of {$2100.00} as a payday loan. 
I went in person to complete the details in accepting the offer and provide employment verification and repayment arrangements. I was told that the finalized details could not be determined until the loan had been officially extended, and upon completion of the loan agreement I was told that my official first payment was scheduled for the tenth ( 10th ) of the following month and to proceed from there on a by-weekly or monthly basis. 
I opted for payments to be deducted automatically from my account monthly as a result on the tenth of each month. 
Problems arose immediately when the first payment was deducted the following month ( XXXX ) on the XXXX  ( XXXX ) of XXXX instead of the agreed upon and expected XXXX of the month of XXXX. Since my contracted service compensation was remitted by direct deposit and not available on the XXXX I incurred overdraft fees after the withdrawal was honored and paid to Always Money by my bank. 
I contacted customer service of Always Money about the issue and was told that payment arrangements were to be made according to a predetermined date of the XXXX ( XXXX ) of each month and was established as the repayment date beyond the control of the loan officer who completed the loan, and not be permanently changed to the XXXX ( XXXX  ) of each month as I had requested. I reviewed the details of the loan agreement ( which I had now received by e-mail and saw that the XXXX ( XXXX ) of each month had in fact been established by the loan agreement. I was also told that I could ONLY make payment without penalty on the XXXX XXXX XXXX ) of each month if I called each month prior to the XXXX  ( XXXX ) of each month and formerly requested the change. I consented that I understood and for a month or two I made the calls to request the changed due dates and had no issues. 
However, as if in an effort to further complicate matters, the next payment was deducted ( in XX/XX/XXXX ) on the first ( 1st ) of the following month, which caused my account to be overdrawn and a flow of overdrafts amounting to {$260.00} and an isolated charge from Always Money for {$38.00}, which I have been unable to get an explanation for even after l attempts to file a complaint with the Complaint Department on Always Money ( which I now understand has recently been *bought out* by XXXX XXXX XXXXXXXX XXXX XXXX 
I have had my bank to issue to me a new Debt Card ( in XX/XX/XXXX ) to change my account information shared with Always Money so they could not receive payments by ACH any longer, and in XX/XX/XXXX I began to make payments by personal check directly to the office when I initially completed the loan agreement. 
As of XXXX of XXXX, Always Money has been able to gain access to my account and extract the monthly payment prior to my making payment by personal check, even though I have changed my account details which I had given them access to. 
The terms of the agreement were that I would accept the {$2100.00} loan to be paid in full after a period of six ( 6 ) months at an APR of 156.23 %. Obviously Always Money has made every effort to extend the length of the loan agreement in an effort to ensure that they are able to collect what would amount to {$4500.00} PLUS the original loan amount of {$2100.00}. 
I would like to add that I have been harassed from the beginning of this loan about making payments early, with multiple calls from employees of Always Money, even before my first payment became due. All this even though had never missed a payment over a period of 11 ( eleven ) months, and when I was able initially to contact them for reasonable explanations for certain discrepancies, I was told in a quote " All I care about is my paycheck ''! 
Fully frustrated by the conditions of this loan relationship and after contacting the Alabama Attorney General 's Office, I realized that this loan arrangement I am describing falls under the restrictions existing in the State of Alabama where there is a limit of 17 % interest rate ( well exceeded by this loan with Always Money, regardless of their demanded APR repayment rate percentage )

Company response to consumer: Closed with explanation