Consumer complaint received 2022-12-17
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Happy Money, Inc. (AL)

In XX/XX/XXXX I took out a personal loan with Happy Money and entered into a contract to repay {$330.00} monthly with the payments to be made on he  XXXX of each month by automatic withdrawal from my checking account. I didn't have any problems fulfilling the terms of the agreement until in XXXX my employer discovered an employee embezzled money from the practice which affected all employees salaries also I had to make car repairs which also caused financial strain and setback. So on XX/XX/XXXX I visited Happy Money website and noticed that they offer financial hardship programs which allow you to skip payments and the amount is added on to the end of the loan. So I applied and signed documents that agreed to have XXXX payment of {$330.00}. XXXX added on to the end of the loan. I received confirmation that the request was approved. On XX/XX/XXXX this company deducted the full amount from my checking account on XX/XX/XXXX I called and spoke with XXXX XXXX and asked why was the money deducted from my checking account after I have documents signed to skip this payment. He stated there was a system error and I asked why wasn't I notified. He responded because I wasn't on the phone when this happened so the agent didn't know to call me. I then asked him to provide me with something proving that this amount was not added to the end of the loan and that the contract I signed was voided, he stated that he couldn't he then provided me a email that states they apologize but the skip payment process requested on XX/XX/XXXX did not process due to system error. I explained that this has really put me in even a more difficult situation, he apologized and stated the company is aware of the problem with their system and were repairing it so this will not happen in the future. He stated that I could apply for another financial hardship and skip XXXX payment which will help me out. I told him I will think about it and if I needed to I will apply again. On XX/XX/XXXX I applied again and signed documents which skipped XXXX and XXXX payments. Earlier today XX/XX/XXXX I received an email which says my XXXX payment is due in a few days. I called and spoke with agent XXXX and asked him to explain to me what is going on with this company. He too told me their was a system error but once again I have documents signed by me and their agent saying that the request was approved. I told him that what they are doing to consumers is fraudulent. They are preying on consumers during a time when they are most vulnerable by deceiving consumers into thinking they can skip payments but actually they are having us sign additional loan documents which will only benefits their company Once you've signed agreeing to have the payments tacked on to the end of your loan they still deduct the full amount from your account for the months you were approved to skip. Therefore causing the consumer to make additional payments and pay more interest to this company. I also asked that he provide me with a payoff amount he said I can give you two dates, Next XXXX  or Next XXXX  I told him just give me the amount he then responded being facetious, " do you want the dollar amount ''? I know that this company is fraudulent and I am being taken advantage of because I have three loan documents I have signed agreeing to skip payments but the money is still being deducted from my checking account and they will not provide proof these contracts are voided. I can't believe I put my trust in this company. Its sad people don't care how they treat another human being and the worst part they go home and sleep at night.