Upstart Network

Complaint: [redacted] I am rejecting this response because: Why this was not disclose with me on verification call? Do you really think people read pages of agreement, this is how you define good customer service This is something that you MUST disclose at begging , And it is so silly that because of soft inquiry or small credit line you refuse to originate the loanafter you approved it You should handle this in much more professional way and try to make it work due to your customer financial stability, ( Credit score , debt ratio and income) Overall, I was not happy with the entire process and Felt very miss treated Sincerely, [redacted] ***

Complaint: [redacted] I am rejecting this response because: There is no way that is true and I would like to see the detail that led to the company sending the initial offer Sincerely, [redacted]

Upstart has reached out privately to address the consumer’s concernsAs a general matter of practice, Upstart reports payment history and account status in accordance with the guidelines set forth by credit reporting agencies and in compliance with the Fair Credit Reporting ActAny disputed information is investigated and resolved in a timely matter

Point #1: I have an issue with how clear the advertising is regarding any loan applicants who cannot show actual graduation, no matter how "close" they are to graduation - as I discovered the hard way that ANY college time at all doesn't count with this companyUpstart considers years of college work with only course credit to complete to diploma as a "high-school" level background -- and therefore Upstart "offered" me an astronomical % loan on minimum risk to them knowing I would most likely decline it--without actually getting a complete application from meTHEN when I turned down their unacceptable loan offer, they indicated on my credit report that I was deniedNo, they made an offer and I declined itI DID NOT authorize them to do a hard credit check at that point as my application wasn't complete in the first placeSo being denied and dissed for being a "high-school" graduate (which I'm not by anyone ELSE's standards as a BA equivalent) has left a bad taste in my mouth and a ding to my credit that I've been building for yearsTheir advertising needs to reflect that ONLY DIPLOMA GRADS will receive a great rate - everyone else will be offered an unacceptable rate on minimum risk to them, pretty much to weed us outThat's their prerogative--as long as I know what I'm walking intoPortions of their website indicated they do make loans to others without a diploma because they review other factorsNot quite true= = = Point #2: What I most object to is not being allowed to WITHDRAW my incomplete application based on their pre-review of what they are looking to "adjust," instead of Upstart going ahead with an adjustment and an offer and then me declining and then them hitting my credit with what they call a denialI wouldn't have chosen that path at all had I been allowed to withdraw without penaltyInitially I thought process was good for the most part, yet only minimum fair communication with an ongoing premature review on an incomplete applicationI simply would have WITHDRAWN my incomplete application had that process been in place and had I been given an opportunity to do soA withdrawal option allows a potential loan applicant to take some good advice before a process that results in a negative hit

Upstart has reached out to this consumer to discuss the specific information surrounding the complaint receivedSpeaking generally, during the application process for an Upstart loan from Cross River Bank, consumers provide consent to pull a credit report for purposes of verifying consumer credit historyThe application process is divided into a pre-approval process in which the user is quoted a rate based on information in a "soft" credit pull which does not impact their creditIf the user elects to proceed with the application, he/she is asked for supporting documentation to verify information that was included in their application (such as income), and a "hard" credit pull is done to confirm that the consumer's credit history has not adversely changed during the application processTo the extent that a consumer's credit history has changed adversely or the information cannot be verified, the application is declinedThe events that would result in a declined application are disclosed to the consumer prior to the "hard" credit inquiryUpstart has privately responded to the consumer to explain specific information about the complaint

Upstart should not have charged my account automatically if I had made the payment in advanceUpstart is unable to stop a payment from being processed at the customer's request This is their IT failures is the customer's nightmareUpstart refuses to apply my payment as a payment because they say it will require the claims adjusting to adjust the interest due I think that is the appropriate action that needs to be done because that was my original request and I thought this problem was resolved I'm good faith, Upstart should treat good customers well They are treating my poorly due to their computer glitches I expect an adjustment because Upstart never communicated how they treat advance payments I should not be punished for paying in advance That's criminal!Complaint: [redacted] I am rejecting this response because:Sincerely, [redacted]

Complaint: [redacted] I am rejecting this response because: Upstart says "Upstart does not accept post dated ? monthly payments to be applied to a future month’s payment."? This means they will only accept payments on the day the payment is due?? I made a payment before the due date as I was supposed to.? Therefore, I did not owe a payment.? Once Upstart indicates that I have an outstanding bill, I should be allowed to pay the bill as the debt has already been incurred.? Once I pay the outstanding balance, Upstart does not have the right to take additional monies.? This is exactly what Upstart did to me.? They stated I owed money, I paid it and they helped themselves to more.? I do not accepted this response because it is unethical.? Upstart needs to provide my signed acknowledgement that I am not? allowed to make any payments before my due date.? Also, I see that Upstart has updated their policies.? I hope that this company does not try to put a new policy in effect and then apply it to my circumstances.? This would be unethical.? I want my payment applied to my payment.? They cannot dictate where my money goes it I clearly stated my intention in the calls that I have made to this company.? They have done it many times in the past.? I do not understand why they refuse to do it now.? They can't apply my money the way I want all the time except this one time.? They need to have a consistent policy.? Very unethical.Sincerely, [redacted]

Upstart sends pre-screened offers of credit based on credit criteria received from Credit Reporting Agencies as defined by the Fair Credit Reporting ActAs disclosed in the pre-screened offer letter, the offer is conditioned on final approval based on consideration and verification of financial and non-financial informationSoft credit checks are initially completed when a consumer checks his or her rate on upstart.com to determine current eligibility and final approval is contingent on verifying of all information in the applicationUpstart has privately reached out to the consumer regarding the application status and complaint

Complaint: [redacted] I am rejecting this response because: Upstart says "Upstart does not accept post dated monthly payments to be applied to a future month’s payment." This means they will only accept payments on the day the payment is due? I made a payment before the due date as I was supposed to Therefore, I did not owe a payment Once Upstart indicates that I have an outstanding bill, I should be allowed to pay the bill as the debt has already been incurred Once I pay the outstanding balance, Upstart does not have the right to take additional monies This is exactly what Upstart did to me They stated I owed money, I paid it and they helped themselves to more I do not accepted this response because it is unethical Upstart needs to provide my signed acknowledgement that I am not allowed to make any payments before my due date Also, I see that Upstart has updated their policies I hope that this company does not try to put a new policy in effect and then apply it to my circumstances This would be unethical I want my payment applied to my payment They cannot dictate where my money goes it I clearly stated my intention in the calls that I have made to this company They have done it many times in the past I do not understand why they refuse to do it now They can't apply my money the way I want all the time except this one time They need to have a consistent policy Very unethical.Sincerely, [redacted]

? Complaint: [redacted] I am rejecting this response because: ? There is no way that is true and I would like to see the detail that led to the company sending the initial offer ? Sincerely, [redacted]

Upstart has privately reached out to this borrower about this concernThe Upstart loan product is a or month fixed rate, unsecured loan product that is fully amortized? The terms of repayment are defined by the promissory noteAccording to the promissory note, any funds paid that exceed the monthly amount owed are applied directly to the current principal balanceAs a result, the Upstart payment system automatically applies payments in this method as defined by the promissory noteThis is standard practice across most loan products and Upstart is not unusual in this application? Some products call for an additional fee when principal is paid down early (called a prepayment penalty)? Upstart charges no such fee? After researching the allegation made above, Upstart has found no evidence that payments were applied inappropriately or that there was a system error in the application of payments?

Complaint: ***I am rejecting this response because:
Why this was not disclose with me on verification call?
Do you really think people read pages of agreement, this is how you define good customer service
This is something that you MUST disclose at begging , And it is so silly that because of soft inquiry or small credit line you refuse to originate the loanafter you approved it
You should handle this in much more professional way and try to make it work due to your customer financial stability, ( Credit score , debt ratio and income)
Overall, I was not happy with the entire process and Felt very miss treated
Sincerely,*** ***

Upstart sends pre-screened offers of credit based on credit criteria received from Credit Reporting Agencies as defined by the Fair Credit Reporting ActAs disclosed in the pre-screened offer letter, the offer is conditioned on final approval based on consideration and verification of financial
and non-financial informationSoft credit checks are initially completed when a consumer checks his or her rate on upstart.com to determine current eligibility and final approval is contingent on verifying of all information in the applicationUpstart has privately reached out to the consumer regarding the application status and complaint

Upstart defines repayment terms in the promissory note, which is signed by all borrowers when accepting their Upstart loanPayments are applied first to outstanding fees, then to accrued interest, and then to principal balance Upstart’s online payment system accepts payments according to these termsAdditional payments are permitted to be made without penalty, and any amount received in excess of the regularly scheduled monthly payment is applied directly to the principal balance at the time the payment is receivedUpstart does not accept post dated monthly payments to be applied to a future month’s payment

Upstart should not have charged my account automatically if I had made the payment in advanceUpstart is unable to stop a payment from being processed at the customer's request This is their IT failures is the customer's nightmareUpstart refuses to apply my payment as a payment because they say it will require the claims adjusting to adjust the interest due I think that is the appropriate action that needs to be done because that was my original request and I thought this problem was resolved I'm good faith, Upstart should treat good customers well They are treating my poorly due to their computer glitches I expect an adjustment because Upstart never communicated how they treat advance payments I should not be punished for paying in advance That's criminal!Complaint: ***I am rejecting this response because:Sincerely,*** ***

Upstart sends pre-screened offers of credit based on credit criteria received from Credit Reporting Agencies as defined by the Fair Credit Reporting ActAs disclosed in the pre-screened offer letter, the offer is conditioned on final approval based on consideration and verification of financial
and non-financial information Final approval is contingent upon completion of an application and verification of all reported information in the applicationUpstart has privately reached out to the consumer regarding the application status

Complaint: ***I am rejecting this response because:
they just repeating them self over and over
please be respectful for people's time and their finances , and of course work on your employees and training as this deal was handled very amature
even your responses is not supporting your poor performance and customer service
please don't waste my or anybody else time by repeating your statement , you ( as a manager I suppose ) don't even have skill to handle objections , it's obvious , you're trying to remove this complaint for further customers , and you are not even trying to solve any problem
I make sure I continue putting words out there so nobody else gets trapped by your misleading informationsSincerely,*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me
Sincerely,
*** ***

*** has privately reached out to the consumer regarding his concerns*** completes soft credit checks when a consumer checks his or her rate on ***.comA soft credit check will not show up to other lenders as a hard inquiry on a consumer’s credit report Soft credit checks to not
impact a person’s credit score and the inquiry is visible to the consumer*** conducts hard checks at the point when a consumer completes a full application and accepts his/her loanThis step is initiated by the consumer and it is disclosed to the consumer beforehand that a hard inquiry will be done

Upstart sends pre-screened offers of credit in accordance with the requirements outlined in the Fair Credit Reporting Act to individuals whose credit report data (as provided by ***) makes them eligible for an Upstart loanUnder the requirements of the Fair Credit Reporting Act, each person
who is prescreened must be sent a firm offer of credit, and instructions on how to opt out of prescreened offers are included on the mailerUpstart sends such prescreened mail once per month to selected consumers and in no case as frequently as described above
Upstart has also privately reached out to this consumer to determine how we can assist in rectifying this situation