Consumer complaint received 2015-09-13
Product: Consumer Loan — Installment loan
Issue: Taking out the loan or lease — 
Company: Upstart Holdings, Inc. (VA)

I spoke with a customer care specialist at XXXX XXXX Bank within the last XXXX hours regarding the treatment that I was experiencing with Upstart regarding a loan application. 
As I review the horrendous experience that I had this week with an unusually taxing application verification process, it began to dawn on me that my problems with this lending company started after they requested a copy of my drivers licence. 
The verification process became quite arduous subsequently and on multiple occasions I have been misled by Upstart employees with suggestions that loan was approved for much higher amount and with better terms than terms being offered now. 
I was also told on several occasions that my loan would be finalized by Friday, XXXX XXXX, including on Friday by employee named XXXX. However, instead of having loan finalized with the more favorable rate that XXXX congratulated me with just hours earlier in the day, I, as instructed by XXXX, checked email later in evening, and saw nothing finalized. 
Remaining very frustrated by my haunting experience with Upstart this entire week, I called once again to check with XXXX what additional delay might have ensued. 
While I was on hold, I saw an adjustment again on my loan offer, this time cutting the principal in half and raising the rate back up to the highest APR. 
This was just another of many efforts Upstart has made in trying to discourage me from borrowing from them. I sent them ample documents and followed up diligently on all of their request of me, yet they have continued to mislead me and cyber bully me by requiring me to send more and more documents, including documents already sent. They had me send pay stubs 3 times, and XXXX forms multiple times. 
They requested that I send rental lease agreements and tax information regarding rental property that I own, and then later told me that they could not use the rental income in their calculations because they do n't fund commercial loans??? 
Despite that, they later made another request for my rental property lease agreements, that I had previously sent. 
I have been put through the ringer with Upstart. The explanation given for reducing loan amount from {$31000.00} to {$28000.00} was reported to me because they could not consider my rental income. 
I was offered the {$28000.00} with lower APR this afternoon by XXXX, and he actually congratulated me and said only problem was that with this being Friday, he would not be able to send funds to my bank until next Tuesday. I accepted those terms, yet within three hours, I was once again misled and all terms changed, and principal cut in half with highest APR offered, 29.9 %. I was then asked multiple times by managers at Upstart if I still wanted the loan. It was very obvious to me that tactics were being used to discourage me from getting any loan at all. 
I am highly qualified for a loan from Upstart, and can only conclude from this cyber bullying that I have had to experience from multiple Upstart employees that knowledge of my race, upon review of my drivers licence that they requested, resulted in a plot to discourage me from borrowing.