Consumer complaint received 2026-02-05 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Getting the loan — 
Company: Upstart Holdings, Inc.
State: UT

Complaint narrative:
Concerns Regarding Documentation Handling and Application Denial I am submitting this complaint regarding my experience applying for a personal loan through Upstart on XX/XX/XXXX. I completed the application process and, as part of the required documentation, was asked to upload my most recent tax return as well as my XXXX forms to demonstrate my earnings. During the document upload process, the system indicated that if I uploaded more than XXXX document under the XXXX section, all previous documents would be canceled or superseded, limiting me to uploading only XXXX of my XXXX XXXX forms for XXXX. 

After submitting my application, I received an email from Upstart on XX/XX/XXXX stating that my most recent tax return was insufficient and requesting that I upload my tax transcript. I contacted Upstarts customer service on the same day to inquire about what constituted a tax transcript. The representative directed me to irs.gov to obtain the transcript. Since I have not yet filed my XXXX tax return due to not having received all necessary documentation, my most recent available tax return and transcript were for the XXXX tax year. I downloaded and uploaded the XXXX tax transcript to Upstarts document manager. 

All communications from Upstart indicated that I had until XX/XX/XXXX to provide the required documentation. However, on XX/XX/XXXX, I received an email notifying me that my application had been denied. The Adverse Action Notice stated that Upstarts credit analyst was unable to verify my income. Upon calling Upstarts customer service, I spoke with an agent named XXXX, who stated that I had failed to upload my most recent tax return and that I should have uploaded my XXXX return. I explained that I had not filed my XXXX taxes yet, so my XXXX return was the most recent. XXXX then indicated that I should have uploaded my XXXX XXXX, which I did not have, but I had uploaded XXXX of my XXXX XXXX and my XXXX tax return, thus providing all available recent income documentation. 

XXXX transferred me to the collections department, who then transferred me back to customer service, where I spoke with an agent named XXXX. XXXX read the denial reason from my Adverse Action Notice but could not provide further explanation regarding why my income could not be verified. XXXX transferred me to his manager, XXXX, who explained that there was a discrepancy between the income I reported on my application and the documentation I uploaded. When I asked XXXX why I was not contacted to resolve the discrepancy or provide additional documentation, especially since I was still within the submission window ending XX/XX/XXXX, she was unable to provide an answer. 

Based on the information above, I believe my application was either mistakenly denied due to an incorrect assumption that I was withholding my most recent tax documentation ( specifically, the XXXX return, which was not yet available ), or denied without giving me a fair opportunity to address or clarify the identified discrepancy. I was not given a chance to submit additional documentation or to reconcile the alleged inconsistency, despite being within the stated deadline. 

I respectfully request that the Consumer Financial Protection Bureau review Upstarts application and documentation handling procedures, specifically regarding their communication, document upload limitations, and the fairness of their denial process. I also ask that Upstart be required to clarify their requirements for income verification and provide applicants with adequate opportunity to resolve discrepancies before issuing a denial.

Company response to consumer: Closed with explanation