Product: Payday loan, title loan, personal loan, or advance loan

I have been advised by my attorney to submit formal complaints to all relevant regulators for record in connection with my lawsuit against Upstart, which will proceed unless my demands are met. I am writing to formally submit a complaint against Upstart, a loan lender, for their egregious failure to honor a legally binding settlement agreement, which included a promise to remove a tradeline from my credit report upon full settlement of my account. This agreement was negotiated through a third-party, Resolve, on XX/XX/year>, and I have attempted, in good faith, to resolve this matter. However, Upstart has failed to comply with its obligations, leaving me no choice but to pursue legal action to address the harm caused by their breach.

Factual Background and Breach of Settlement Agreement On XX/XX/year>, I reached a settlement agreement with Upstart, negotiated through the third-party service, Resolve, wherein I agreed to settle my outstanding balance of {$2500.00} for {$1500.00}. The specific terms of the agreement included the removal of the corresponding tradeline from my credit report upon full payment. I fulfilled my end of the agreement and paid the agreed-upon amount of {$1500.00} in good faith, but Upstart has failed to honor their commitment to delete the tradeline.

Despite multiple attempts to resolve this issue, including disputes filed with the credit bureaus and formal legal demands, Upstart has failed to remove the account, denying any responsibility for the breach of contract and refusing to engage in a meaningful resolution process. This failure to act in accordance with the settlement terms is both a breach of contract and a violation of numerous consumer protection laws, including federal and state statutes.

Damages Suffered and Legal Violations As a result of Upstarts actions, I have suffered significant financial and emotional harm, including but not limited to : Financial Harm from Higher Interest Rates and Credit Denials : Due to the unresolved negative payment history on my credit report, I have been denied credit by other lenders and forced to accept loans at higher interest rates. This has resulted in measurable financial damages, including higher costs for borrowing and loss of access to favorable financial opportunities.

Emotional Distress : The stress, frustration, and emotional toll caused by Upstart 's refusal to honor their contractual obligations have been significant. The impact of these events has adversely affected my peace of mind, causing significant anxiety and inconvenience.

Collection Under False and Malicious Practices : Had I known that Upstart would not honor the settlement agreement, I would not have made the payment. The settlement was predicated on Upstarts commitment to delete the tradeline upon full payment, and their failure to do so constitutes a collection under false and malicious practices. This constitutes fraudulent conduct designed to induce payment under misleading pretenses.

In addition to the breach of contract, Upstart 's actions also violate several federal and state laws : Violations of Federal and State Laws Violation of the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq. : Under the FCRA, creditors have a duty to ensure that the information they report to credit bureaus is accurate, complete, and up-to-date. By failing to delete the tradeline after the settlement, Upstart has reported inaccurate and misleading information, violating my rights under 15 U.S.C. 1681i, which requires that credit reporting entities conduct a reasonable investigation into disputed information. The failure to correct this inaccurate reporting further violates 15 U.S.C. 1681s-2 ( b ), which mandates that furnishers of information ( like Upstart ) take steps to correct inaccurate or incomplete information upon receiving notice of a dispute.

Violation of the Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692 et seq. : Although Upstart is not a third-party debt collector, their conduct in this matter may fall under the FDCPAs prohibition against deceptive, unfair, and misleading practices. Upstarts failure to fulfill the terms of a settlement agreement and their continued reporting of the account as unresolved is a form of deceptive conduct that has caused me financial harm.

Violation of the Arizona Consumer Fraud Act, A.R.S. 44-1522 : Under the Arizona Consumer Fraud Act, it is unlawful for any person or business to engage in any deceptive or unfair practice in trade or commerce. By failing to remove the tradeline as agreed, Upstart has engaged in conduct that is not only unfair, but also fraudulent, in violation of A.R.S. 44-1522. Upstart 's refusal to honor the settlement agreement, along with their continued reporting of the account, constitutes a violation of Arizonas consumer protection laws.

Breach of Contract : The settlement agreement between myself and Upstart constitutes a legally binding contract, and Upstart 's failure to honor this contract is a clear breach. Under Arizona law, specifically A.R.S. 44-101 et seq., a breach of contract occurs when one party fails to perform its obligations under the terms of a valid agreement. In this case, Upstarts refusal to delete the tradeline after full payment directly violates the agreed-upon terms.

Intentional Infliction of Emotional Distress ( IIED ) : Upstarts failure to comply with the terms of the settlement agreement and their refusal to engage in any meaningful resolution may also give rise to a claim for intentional infliction of emotional distress. Their conduct has caused me significant emotional distress, and their actions may be found to be outrageous or extreme under Arizona tort law.

Request for Compensation and Resolution In light of the substantial financial and emotional harm I have suffered, and given the clear violations of both federal and state law, I am requesting the following remedies : Monetary Compensation of {$10000.00} : This amount is requested to cover the financial damages incurred, including higher interest rates, credit denials, and other related costs resulting from Upstart 's failure to remove the tradeline. This compensation also accounts for the emotional distress caused by their actions.

Return of Settlement Funds : I request the full return of the settlement amount paid to Upstart. Had I known that they would not honor the agreement, I would not have made the payment. Upstart 's deceptive practices in collecting the settlement amount under false pretenses warrant the return of these funds, in addition to other damages.

Legal and Attorney Fees : Given the need to pursue legal action to resolve this matter, I am requesting that Upstart compensate me for the legal fees and attorney costs incurred in enforcing my rights.

Immediate Removal of the Tradeline : Upstart must immediately remove the tradeline from my credit report, as per the terms of the settlement agreement, and provide written confirmation that they have done so.

Formal Acknowledgment of Breach : I request that Upstart formally acknowledge their breach of contract and provide a written statement outlining their plan to prevent such incidents from occurring in the future.

Conclusion I respectfully request that the Consumer Financial Protection Bureau ( CFPB ) promptly investigate Upstarts failure to honor the settlement agreement and their refusal to remove the tradeline from my credit report. The violations outlined above reflect serious misconduct on the part of Upstart, and I believe that the CFPBs intervention will help bring this matter to a swift and just resolution.

Please do not hesitate to contact me if additional documentation or information is required for your investigation. I look forward to your prompt response.