Consumer complaint received 2026-03-05 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Getting the loan — 
Company: Upstart Holdings, Inc.
State: TX

Complaint narrative:
Complaint Against Upstart Failure to Facilitate Loan Disbursement, Improper Customer Support Escalation, and Loan Servicing Breakdown I am submitting this complaint regarding Upstarts handling of the disbursement of my personal loan proceeds and their refusal to provide appropriate escalation or assistance in resolving the issue. I was approved for a personal loan through the Upstart platform that was funded by XXXX XXXX XXXX. The loan amount is {$11000.00}. The loan has been marked as funded and an active loan balance has been created under my name. However, the ACH transfer of the loan proceeds to my bank account failed and was returned. XXXX XXXX XXXX has confirmed that the returned funds were received and are currently on hold pending proper re-disbursement through Upstarts funding workflow. XXXX XXXX XXXX has explicitly informed me that because this loan originated through Upstarts platform, they can not manually release the loan proceeds without Upstart initiating or re-triggering the disbursement process through their system. Despite this, when I contacted Upstart customer service multiple times seeking assistance, I was repeatedly redirected back to XXXX XXXX XXXX. This created an ongoing loop in which each institution directed responsibility to the other while my loan proceeds remained inaccessible. During one of my calls to Upstart customer service, I requested escalation to a supervisor after the representative was unable to assist in resolving the issue. The representative identified himself as XXXX refused to transfer me to a supervisor and stated that he could not escalate the issue because the loan is serviced by XXXX XXXX XXXX. As a result, I was denied access to anyone at Upstart with the authority to review or resolve the disbursement problem. I made numerous attempts to resolve the issue through Upstart customer support. It was not until approximately my eleventh call, after I became extremely distressed and emotional due to the ongoing frustration and lack of assistance, that a representative finally assisted me in reissuing an email that would allow me to relink my checking account information through XXXX. However, even after this step, I was informed that the relinking email could take up to 72 hours to be sent or processed. This means that despite already having an active loan balance and the loan proceeds being deposited internally at XXXX XXXX XXXX, I may still be required to wait additional days before the disbursement process can even be restarted. At this time : My loan account shows an active balance of {$11000.00}, already accruing interest The loan proceeds have been deposited internally within XXXX XXXX XXXX but remain on hold I have not received access to the loan proceeds Neither Upstart nor XXXX XXXX XXXX has taken clear responsibility for resolving the funding breakdown This situation has placed me in the unacceptable position of having an active loan obligation while being unable to access the funds associated with the loan. The continued delay in disbursing loan proceeds while an active loan balance has already been created raises concerns regarding proper loan servicing practices and whether consumers are being placed under financial obligation without timely access to the associated loan funds. I have made numerous attempts to resolve the issue through both companies, including repeated phone calls to both Upstart and XXXX XXXX XXXX. Each time I was redirected between the two institutions without a clear resolution until the matter was finally addressed after multiple attempts. I am requesting that Upstart immediately : Escalate this matter to their loan funding or loan operations department. Reinitiate or facilitate the proper disbursement of the loan proceeds. Coordinate directly with XXXX XXXX XXXX to resolve the disbursement failure without requiring further action on my part. Ensure that I receive the loan proceeds associated with my approved and funded loan. This situation has caused significant stress and financial uncertainty, particularly because I now have an active loan balance without access to the loan funds. I respectfully request that the Consumer Financial Protection Bureau review Upstarts handling of this matter and require the company to take prompt action to resolve the disbursement failure and ensure proper loan servicing practices going forward.

Company response to consumer: Closed with explanation