Consumer complaint received 2024-09-19 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Upstart Holdings, Inc.
State: WA

Complaint narrative:
Consumer Financial Protection Bureau Consumer Financial Protection Bureau, XXXX XXXX XXXX XXXX XXXX XXXX  Federal Trade Commission XXXX XXXX XXXX XXXX XXXX XXXX ( FTC Complaint Filed on XX/XX/XXXX ) cc. 
Upstart Financial XXXX Formal Complaint of Fraudulent Operating Practices and Request for Compliance Audit : UPSTART FINANCIAL and XXXX XXXX Re : Account # XXXX To Whom It May Concern, As a result of Upstart XXXX  refusal to cooperate, conduct, and correct their unlawful credit reporting practices, a complaint has been filed with the Federal Trade Commission by borrower against Upstart XXXX for falsification of financial statements and illegally withholding financial information. XXXX and XXXX have cited, Verifiable Accounting by way of previous dispute resolution attempts. XXXX and XXXX have stated : The company reporting the information to verified that it was accurate, so it wasn't changed Upstart XXXX Account was Deleted by XXXX on XX/XX/XXXX. Consumer speculates, this action was entirely due to Upstart XXXX inability to provide credible evidence of accurate reporting. 

On XX/XX/XXXX, Upstart XXXX updated inaccurate charge-off collection furnishings to XXXX and XXXX. 

Upstart XXXX has continued to deny borrower supportive creditor disclosures. Upstart XXXX is so committed to their fraudulent activities, they published a written statement on the CFPB website ; acknowledging unlawful Pay for Delete intentions. 

XXXX XXXX  certified to CFPB, on XX/XX/XXXX ; Accounts are NON- COLLECTIBLE and CLOSED as of XX/XX/XXXX. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) acknowledges receipt of the consumers complaint. XXXX purchased these XXXX accounts in good faith and for value. As a result of the complaint a member of our XXXX XXXX investigated the allegations. XXXX  does not report and is not reporting a tradeline for either account. These accounts have been closed in our office since XX/XX/XXXX. Should the consumer continue to have further questions or concerns we invite them to contact us to discuss the matter further. 

On XX/XX/XXXX, borrower disclosed new evidence by way of Consumer Financial Protection Bureau complaint ; outlining factual impossibilities to Upstarts claims of transferred debt. Disclosure of borrower evidence was also provided to XXXX, XXXX, XXXX XXXX, XXXX Consumer Affairs, and XXXX XXXXXXXX Attorney General Consumer Complaint. 

Facts Surrounding Inaccurate Furnishings : Upstart Financial, negotiated entered into an agreement with XXXX  and borrower on XXXX XXXX. On XX/XX/XXXX terms were reached with UPSTART FINANCIAL and Borrower. On XX/XX/XXXX. UPSTART FURNISHED A FALSIFIED BACK-DATED BILLING STATEMENT. This statement reflected XXXX XXXX ; which would indicate : XXXX. XXXX was not validated prior to alleged XX/XX/XXXX charge-off since terms were duplicative. 
XXXX. Upstart did not attempt to contact Borrower XX/XX/XXXX charge-off XXXX. As of XX/XX/XXXX debt was still owned by Upstart as they were the notated creditor of record to negotiate settlement. 
XXXX. Prior to alleged transfer of debt in XX/XX/XXXX, Upstart had agreed on borrower owing obligations under unilateral terms with XXXX 

XXXX requested evidence be disclosed proving UPSTART assertions and XXXX confirmation of Debt Transfer. As XXXX XXXX XX/XX/XXXX both parties have avoided providing credible and/or rebuttal evidence that would meet bound FCRA XXXX credit dispute requirements. 

See below : Upstarts XX/XX/XXXX to CFPB Company 's Response and attached Complaint Full Detailed report.

Company 's Response The complainants loan, XXXX, has been transferred to XXXX XXXX, XXXX as of XX/XX/XXXX, and they are the new servicer of the loan. This loan is no longer being serviced by Upstart. As such, XXXX XXXX, XXXX is responsible for investigating any concerns regarding the loan, and can work with Upstart if needed to assist in their investigation. We invite the complainant to reach out to XXXX XXXX, XXXX to establish new payment arrangements and for any questions or concerns regarding their loan. XXXX XXXX XXXX contact information is as follows : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Phone : ( XXXX ) XXXX Email : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Page XXXX of XXXX Borrower/Consumer filed bankruptcy in XX/XX/XXXX. Upstart XXXX was served. Therefore, above UPSTART response is insufficient, inadequate and blatantly ignorant. XXXX withdrew and confirmed they do not report to credit bureaus. In addition, UPSTART Statement VIOLATED 11 U.S.C 524 ( c ), ( f ).

Under 11 U.S.C 524 ( c ), ( f ) Creditors can not collect discharged debts.This order means that no one may make any attempt to collect a discharged debt from the debtors personally. For example, creditors can not sue, garnish wages, assert a deficiency, or otherwise try to collect from the debtors personally on discharged debts. Creditors can not contact the debtors by mail, phone, or otherwise in any attempt to collect the debt personally. 

Bottom line, Consumer has provided Non disputable evidence that UPSTART FINANCIAL, was the owner of Debt on XX/XX/XXXX, debt was not validated under XXXX prior to XX/XX/XXXX or XX/XX/XXXX and UPSTART is in violation of XXXX XXXX False certification : of Financial Statement Dated XX/XX/XXXX and Furnished on XX/XX/XXXX to XXXX. 

( XXXX ) A person is guilty of false certification, if, being an XXXX authorized to take a proof or acknowledgment of an instrument which by law may be recorded, he or she knowingly certifies falsely that the execution of such instrument was acknowledged by any party thereto or that the execution thereof was proved. 
( XXXX ) A person is guilty of false certification, if, being a notarial XXXX making a certification authorized by XXXX XXXX ( XXXX ), he or she knowingly certifies falsely that a tangible copy of an electronic record is an accurate copy of the electronic record. 

XXXX and XXXX, are required to investigate by way of dispute resolution process. 

XXXX and XXXX must adhere to FCRA STANDARDS and demand written documentation be PROVIDED to XXXX XXXX XXXX AND XXXX XXXX XXXX ; that indicates Debt was validated and transferred to XXXX  prior to XX/XX/XXXX. 

XXXX and XXXX will be complicit in UPSTART FINANCIAL fraud if information is not disclosed and if UPSTART fails to disclose ; XXXX and XXXX must delete non-verified inaccurate credit furnishings. 

Thank you,

Company response to consumer: Closed with explanation