Consumer complaint received 2022-01-02
Company: Upgrade, Inc.
State: SC
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Getting the loan

Complaint:
I started receiving pre-approval letters from Upgrade. On or around XX/XX/2021, I decided to apply for a personal. I was preapproved for {$14000.00}. It was requested that I send documents ( pay check, W-2, tax forms, etc. ) I provided this information immediately. I followed up on XX/XX/2021 to ensure they had everything that was needed and was told they did. On XX/XX/2021, I received an email that stated " No outstanding documents are required. I called on XX/XX/2021 to check the status of my approval and was told it was being reviewed. On XX/XX/2021, I received an email stating that " You're just steps away from finalizing your loan- we just need..... a " Voided Check ''. I immediately uploaded a voided check. At this point, I felt certain that I would be receiving an approval letter any day. I called on XX/XX/2021 to check on the status and was told again that it was being reviewed. On XX/XX/2021, I received an email asking me to call within 1 business day. I called at XXXX pm and was told they have everything and transferred me to the verifications team. I was again told that they have everything. On XX/XX/2021, I received an email requesting " Most recent XXXX years federal tax return ''. I called them because it was originally submitted in XXXX and was told they needed it again. I uploaded it immediately. On XX/XX/2021, I received an email stating for me to call within 3 business days but it was also noted that " No outstanding documents are required. '' I called on XX/XX/2021 and was told they have everything. On XX/XX/2021, I received an email stating for me to call within XXXX business days but it was also noted that " No outstanding documents are required. '' I called and was told they have everything. On XX/XX/2021, I received an email stating for me to call within 1 business day again noting that " No outstanding documents are required. '' I called on XX/XX/2021 and was told they needed another copy of my W-2. I submitted immediately. On XX/XX/2021, I received an email stating for me to call within 1 business day again noting that " No outstanding documents are required. '' I called on XX/XX/2021 and was told they have everything. At this point, I was questioning their process and why it was taking so long. I was assured that I would know something in XXXX business days. On XX/XX/2021, I received an email stating for me to call within 1 business day still noting that " No outstanding documents are required. '' I called on XX/XX/2021 and was told they have everything. I was getting really frustrated with the continuous emails and having to call and be told I would be approved. Finally, on XX/XX/XXXX, the status on the website changed to " Welcome XXXX! Your loan has been approved and your funds will be on their way shortly ''. I was glad that the process was finished and I could move forward with consolidating my bills. I also received notification from XXXX that " A new account has been added to your credit report ''. I called on XX/XX/2021 and was told the funds would be in my account within XXXX business days. On XX/XX/2021, no funds deposited. I called and was told the funds would be deposited by XX/XX/2021. On XX/XX/2021, no funds deposited. I called and was told they needed to " push '' it through and it would be deposited. I called on XX/XX/2021 and was transferred to " Customer Advocacy ''. The representative XXXX told me she would look into why the funds have not been deposited and would get back with me by end of business. By the end of day, no call. I called and spoke to another representative and asked to speak to a supervisor and he hung up on me. On XX/XX/2021, I called and spoke to XXXX and she said that she had not received any information. She said she can't see the information regarding my loan and has to wait for another department to let her know the status. She said she would call back on XX/XX/XXXX. I also spoke to XXXX, the " Supervisor '' who was of no assistance. Needless to say, I did not receive a call on XX/XX/XXXX. I called back on XX/XX/XXXX and spoke to XXXX who said that she was told by XXXX that the loan was over 60 days and they were denying my loan and I can reapply. Huh??? This was never disclosed and as you can see, they were still corresponding to me well after the 60 days. At no time did anyone state there was a time limit and the hold up was Upgrade, not me. I started laughing because this had to be a joke. I told her that I had responded to every email and provided everything timely and after all of that, including the website stating I was approved and it popping up on my credit, they were denying my loan. In addition to this frustration, each representative that I spoke to was unable to tell me anything about my loan or see documents. My questions could not be answered. What in the world is going on? Is Upgrade a legitimate company? I have provided them a lot of personal information and I know that I qualify for the loan. I have never had to go through so much to obtain a loan. This is why I am submitting this complaint. I feel that they are deceptive and this needs to be stopped.

Company response to consumer: Closed with explanation