ComplaintsforHappy Money, Inc.

• Initial Complaint

  03/21/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I am questioning whether this company is legit or not. The letter didn't come addressed in my full name, it came in a shortened version of my name.It stated I was PRE-APPROVED. This leaves the assumption that pre-approved means approved because that's what pre-approved is.This company had me submit all my personal information including full name, birthdate, e-mail address, forced me to provide a password to continue, and confirm my home address as well. As soon as this was submitted, they immediately rejected the application. This screams SCAM. Why would they force a password be set up for a account they had no intentions of setting up? They now have all my personal information, and enough information that could be used to steal my identity.

  

  Business response

  03/21/2022

  Please see attached response to the submitted complaint. 

  Customer response

  03/21/2022

  3/21/2022
  

  I am very familiar with my credit history and there are NO delinquencies on my credit report in the last 2 years. Therefor, the letter is a straight up lie. A pre-approval was already issued based on my credit, as clearly indicated on the marketing. The only difference is that more on-time payments were made.

  I am rejecting the lie provided to me in full. As also the "we have carefully reviewed your credit" rejection, when in fact, NO ONE "carefully" reviewed my credit. A computer did.
  

  
  
  

  

  Business response

  03/30/2022

  3/30/2022
  Please see correspondence attached.
  
  

• Initial Complaint

  03/09/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Pay off deliberately assigns Alpha-numeric account numbers to prevent consumers from doing a balance transfer if a consumer wants to initiate one after getting a low rate from a 3rd party credit card lender. Pay ******* is a finance company. They advertise to help people by giving loans to consumer. They want to get the loans out by initiating a balance transfer on behalf of the consumer via their own collection of lenders. But if a consumer finds a better rate, lets say for example I received a Balance Transfer offer from a credit card 12 months no interest, and i had a open loan with Pay off for 13%. But if I wanted to do a balance transfer. Pay off knows that a credit card would want a NUMERIC account number only, therefore Payoff on purpose would assign a consumer loan ALPHANUMERIC, so that it becomes difficult to do a balance transfer from a better interest rate credit card offer. The loan number they assigns are also too hard to remember and are often too long. They wont even put their loan ID on the website anywhere, it usually needs to be asked via their customer service. They wont even break down payments ( interest and principal). ***Other credit card company, most of them wont allow a alphanumeric credit account to be paid off as part of a balance transfer. and thats the problem, and pay off knows it. and thats why they create complex Loan ID numbers so that they can never be paid off. ***

  

  Business response

  03/09/2022

  Please see attached response to the submitted complaint. 

• Initial Complaint

  02/28/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Loan Granted on 2018: As per Truth in Lending Disclosure, Loan was for 36 months, total amount financed $29,100 at $14.99 APR and total Financing charges of $7211.40 which equals total loan payments of $36,311.40 to complete my financial obligations. Shows remaining balance $23,380Total Paid to Date $20,185.85Applied to Principal: $6619.85This adds up to the fact that they have misapplied my payments and have already paid $13,566 to interest when my entire loan obligation for interest is only $7211.40. I have reached out to the company and requested a manager call me after a supervisor in the background telling me that their system is correct, a scheduled callback was missed by the manager and I still have no resolution to this extremely obvious internal error. As I have already paid $20,185,85, it is obvious that my remaining balance cannot be more than the Truth in Lending Total of $36,11.40-$20,185.85 although it should be LESS because if i pay it off today, I would be credited back interest already paid since there is no prepayment penalty. I want this corrected immediately and my account reflected the actual amount owed!

  

  Business response

  02/28/2022

  Please see attached response to the submitted complaint. 

  Customer response

  03/01/2022

  3/1/2022
  

  Thank you for your response. While I appreciate the fact that you "eventually" got this corrected, in the mean time, I had numerous reductions in my credit availability due to drops in my credit score which are directly due to you misreporting my balance due to all 3 credit reporting agencies. The damage to my credit and my ability to get credit at a reasonable price is a direct harm, and something your company is fully responsible and liable for.

  The amount of effort it took for me to get this resolved is beyond incompetence, its raw gross negligence. I spent more than 5 hours online going over this with 3 different people from goal realignment, sent 7 follow-up emails, I had to place this BBB complaint, and a complaint on the ******** page. In addition to that I received past due texts, phone calls from agents whom were obviously not up on the details of this situation. This isn't acceptable by any means.

  My question to Happy Money is- How are you going to repair the damage you have caused' Are you going to write a letter to the company's that have reduced my credit availability and advice them of the error you made' How is your company going to make me whole'
  

  
  
  

  

  Business response

  03/09/2022

  3/9/2022
  We regret to hear of your experience. If you would like to provide more specific detail as it relates to any hardships you may have experienced as a direct result of this issue, please speak with our Service Recovery Manager, *********************, and a good faith effort will be made to resolve any outstanding issues. While there is not a direct number he can be reached at, you can contact our Member Experience team at **************, between 9am-6pm PST Mon-Fri, and a Member Experience advocate will be able to connect you with him. 
  
  

• Initial Complaint

  02/18/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  ****** sends out phishing snail mail to capture email addresses and other personal information. This scam operation is disguised as debt consolidation and they claim you are pre-approved even though they have no intention on offering you a loan. All they seem to be doing is just collecting information.

  

  Business response

  02/18/2022

  Please see attached response to the submitted complaint. 

• Initial Complaint

  02/08/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  For the past several months, I have been receiving invitations from Payoff, via email and postal mail, to apply for a loan to pay off some or all of my credit card debt. These invitations have been accompanied by a unique invitation code, which I am asked to enter on their website to begin the process of applying for such a loan. Repeatedly over the past several months, every time I have entered my invitation code, my application is blocked with an unspecified error, and I am directed to contact Payoff via its live customer support chat. Each time I am told the exact same thing: that there is a "technical problem" with my account, and that their "engineering team" will look at it and that I will hear back from Payoff within a few days. Each time, this has NOT happened. Nobody ever follows up with me, either by phone or by email, or via any other means. The same issue has continued when I have attempted to email Payoff (repeatedly since October): I am told there is a "technical problem," the "engineering team" will look into it, and that I will hear back from them (yet I never do). The same has also happened when I contacted their phone support. I spoke to them twice by phone, only to be told in the end that it is a "technical problem" that their "engineering team" needs to look into and that they will contact me. Again, they never have. Perhaps I shouldn't, as this poor level of customer service is a red flag, but I would like the opportunity to at least apply for a Payoff loan, but have found absolutely no recourse so far in attempting to do so.

  

  Business response

  02/08/2022

  Please see attached response to the submitted complaint. 

  Customer response

  02/09/2022

  2/9/2022
  While I can accept ************ explanation that their geolocation software detected that I was out of the country, their response in no way indicates whether or if this issue as connected to my account has now been rectified. In other words, if I now attempt to apply for a Payoff loan, even from the U.S., will my application against be blocked in the same manner as before? Or has this issue now been corrected? I would like a response from the company clarifying this, and if my access to their site has not yet been restored, I would like it to be restored as soon as possible and for this to be confirmed and communicated to me in writing. Thank you.
  
  Sincerely,
  ***********************************
  
  

  

  Business response

  02/18/2022

  2/18/2022
  If you apply from within *****************, you should not encounter any system issues as it relates to completing an application. 
  
  

• Initial Complaint

  01/28/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I did not realize that I had a payment for a loan that was past due. Pay off reached out and offered to put me on a modified payment plan, switching from monthly payments to weekly payments. Let me know mentioned that they wouldn't consider this reasonable payments nor the dimension that they would report this as a 30 days delinquent because it wasn't paid in full while I was complying with their proposed payment plan. Such my credit has taken and a reparable hit, and has impacted my ability to obtain reasonable credit terms for anything else. I have never missed a single payment in over 14 years

  

  Business response

  01/28/2022

  Please see response to the attached complaint. 

• Initial Complaint

  01/28/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I applied for a loan threw happy money inc/ loan pay off on 10/12/2021 was approved for ****** which was fee off 400 dollars which was fine and **** to be deposited in my account between 3 to 7 business days never was deposited I called they said they would check into it they called back said they would redo the deposit I said ok another 3 to 7 business days I agreed nothing was deposited I have talked to them several times they apologized said they would check with there credit union get it resolved I said ok I called back said no deposit they said well hasn't been the 7 day should go in tonite now we are in November I called after 7 day still no deposit I said my first payment is due on 12th November they said sorry we will change date to Nov 27th I agreed I ask if it show late fee for changing they said no and it should be resolved and funds in your account by then and they emailed me a 100 dollar Amazon card so week of 27 still no funds deposited I called they ask for my checking account info this was 3rd time I gave it to them and 3 time for 3 to 7 days for funds to be deposited so I call them back they said we are sorry we have our managment team working on it I said my payment was due on 27th and loan is showing on my credit which is fine as long as I get the money deposit they said they call me back next day no call so 2 days later which is today 12/2/2021 I get email saying payment past due I called today operator answered you always get them before you get a manager team member usually different person every time I explained situation they said they out me on list and manager would call back which sometimes they do and sometimes they dont so no call back from them today .I did mention to them on 11/30/2021 that if deposit hasn't went in first 2 times or 3rd why would they deposit after that and I explained I'm willing to cancel contract due to them defaulting on there end of the loan to me it's on my credit now and I'm starting to think its fraudulent.

  

  Business response

  01/28/2022

  Please see response to attached complaint. 

• Initial Complaint

  01/18/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I made a payment of $16,000 to Payoff that was scheduled for delivery prior to Thanksgiving. This check, along with all previous payments, came from the same bank, was sent to the same address, and had all the same, pertinent information that would allow it to be credited to my account. The check cleared my bank on December 1, but Payoff has yet to credit my account. The even stranger part is that another check was received and posted to my account after this check without a problem. I have spoken with several customer service reps to no avail. How hard can it be to find a $16,000 entry on a general ledger and make a correction, even if it is a mistake. Here I am a week later with no hope of a resolution. Is it because they know I am paying this loan off early? I fully expect it is a ploy to keep my balance higher and not pay off the loan so additional interest accrues. Unacceptable and downright illegal.

  

  Business response

  01/18/2022

  Please see attached response to submitted complaint. 

• Initial Complaint

  12/29/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I applied for a personal loan advertised through my account with credit karma. I had an outstanding chance on getting the loan to refinance my credit card debt. I applied and got the loan at *****%. I signed my e docs and I then was told via email that the funds would be available for use in 2-3 business days. After over one week I went into my online account where I found the status had changed to being under review like I never signed documents accepting the loan. I contacted customer support and was told there was a "glitch" in the system and a ticket was sent to the engineering **** and my issue should be resolved in 1-2 business days. After one week I checked my account and the status was still the same. I contacted the **** again and was told a ticket had already been placed but my issue would be escalated to management. This is where I am now. I feel like this company is doing something fraudulent. I already made arrangements to pay off my **** within the time frame they told me I would be receiving my loan and now I may go late on those payments. I think this company is doing dirty business and am afraid my information has been compromised.

  

  Business response

  12/29/2021

  Please see the attached response to the submitted complaint. 

• Initial Complaint

  12/15/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I have a loan with ********** also known as Happy Money. I tried to pay off the loan with proceeds from re-financing my home but the payoff figure Payoff gave me was only good for 10 days out and I needed it to be about 17 days out. They wouldn't give me that amount. So the re-finance used the incorrect payoff amount to loan me the money. I then tried to payoff the loan on-line but it was rejected because I didn't trust them and had put a stop payment my account. **********. will not accept a debit card number over the phone. They want me to release the stop payment or to set up a new bank account from which they can draw the amount due. I've tried doing that three (3) times now. The first rejection was because the check copy I sent them wasn't voided. So I sent another one and even though the check copy I retrieved from my on-line account at the bank was clearly voided, because it didn't say VOID, they rejected IT. So I sent them a blank check yesterday with the words VOID written on it and again they rejected it...making up some other excuse. Please note, I was told initially that I didn't even need to submit a blank check. So my complaint is they will not accept my final payment to close the account and it continues to accrue interest owed. On top of this, I can not log into my account with them on-line. Each time I try their web page treats me as if I'm wanting to submit and application for a new loan. I spoke with a rep about this and she said she'd work with somebody to fix that but they haven't done squat. No fix. This is the worst company in the world to work with and people thinking of getting a loan from them should be forewarned.

  

  Business response

  12/15/2021

  Please see attached response to the submitted complaint. 

  Customer response

  12/16/2021

  12/16/2021
  
  Better Business Bureau:
  
  I have reviewed theresponse made by the business in reference to complaint ID ********, and find the resolution is be satisfactory to me. I would like to clarify however, that I was denied access to my on-line account prior to my final payment and my account being closed.
  
  Regards,
  
  ******* *****
  
  
  
  
  

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