Consumer complaint received 2024-10-15 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Problem with the payoff process at the end of the loan — 
Company: Upstart Holdings, Inc.
State: MI

Complaint narrative:
I was paying off a personal loan ay Upstart / XXXX XXXX XXXX by using a different company for a Home Equity loan. I was told the only way to process it was with a check being sent. So on Thursday, XX/XX/year> I went to a local XXXX to overnight letter the {$39000.00} at a cost of {$64.00} overnight charge. I was told that it had to have a lockbox services number on the overnight letter, which I did myself because the local agent refused to do it. The XXXX agent said to bring her the printed receipt and she began typing for some time. I went home and found that she had removed the lockbox services number. In a panic, I tried reaching XXXX, which sends you oversee 's and they do not help at all. After filing with the executives at XXXX they got me in touch with the local XXXX team in XXXX XXXX XXXX. The XXXX driver said he has had that route for XXXX  years and none of the overnight mail going to XXXX XXXX XXXX in XXXX XXXX has had any lockbox services numbers on them. 

XXXX XXXX XXXX claims they will still process the loan payoff and Upstart who processes the loan for XXXX said they will not. No one knows how to reach the outsourced processor that handles the payoffs on XXXX XXXX. I feel certain they can, but are refusing to do so. I did a XXXX search and this is a very small building. The employee that XXXX delivers to every day at that building, is named XXXX and she signed for my overnight letter. It was supposed to process by tomorrow as it takes XXXX business days for processing. With the holiday, that made it XXXX  XX/XX/year> that they would have the procesing completed. No one will try and check on it and if it takes 10 years, the will do nothing at all. 

I have tried to reach management at Upstart and none of the excecttives have had any management contact me in the last 6 days. XXXX occupational employee called and said she would like to electronically process a payment for XXXX for a payment that I wouldn't owe with this payoff they have failed to process. I told her no, that I sent a {$39000.00} check that was signed for and it is in their building at the outsourced company at XXXX XXXX XXXX in XXXX XXXX. The check is even at least XXXX XXXX dollars over the payoff. The Home Equity loan required to go over the actual amount owed for some reason. I told her I'm not canceling the check and they need to find it in that building. They claim they can have no contact with the outsourced company. I said I will not be canceling the check, and I'm not paying anything going forward as I have paid it off and they carelessly lost it with their lack of a safe process to pay off XXXX of their loans. I strongly believe this is common with them as this would ensure additional revenue for delayed processing interest they make. Both companies, Upstart and XXXX XXXX XXXX have been absolutely horrible and should be investigated by the government. 

XXXX says just wait and it will show up someday, and Upstart is saying I should be very worried and claim there is nothing they can do at all. Not one manager has contacted me from Upstart and I have worked on this since last Thursday, every day all day and they just don't care.. I feel strongly they feel insulated for any actions that will impact them and they can treat anyone anyway they want. XXXX says it is out of their hands but they are the ones that changed the shipping label. 

I'm XXXX XXXX XXXX and can not afford to have a delay like this for a {$39000.00} check. The level of stress that Upstart, XXXX XXXX XXXX and XXXX has caused is beyond what they even care about. They are just ignoring me and expecting I will cancel the check and go back to the original home equity loan company and have them overnight me another check, then overnight another check that will most likely have issues as well. How can a company lose a check they signed for within a very small building and claim they can not do anything to find it? Everything they need is on that envelope and within the envelope to process it. These companies need to be shut down or investigated. I have included the CEO of Upstart and several executives. XXXX XXXX XXXX blocks me from reaching their executives, but XXXX management person contacted me and said don't worry about it. It's not her {$39000.00} so that is easy for her to say. After 6 days they have done nothing but ask me to pay a payment that would have been due in XXXX if I had not paid off this loan.

Company response to consumer: Closed with non-monetary relief