Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #5059436
Complaint Overview
Complaint ID: 5059436
Company: Upgrade, INC.
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: Virginia
ZIP Code: 23228
Date Received: 2021-12-31T12:00:00-05:00
Date Sent to Company: 2022-01-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I took out an installment loan with Upgrade with a principal sum of XXXX. Out of the XXXX they took a XXXX fee and stated that it was considered prepaid interest. And stated that I would only be financing and paying interest on XXXX. I received my final TIL statement showing the amount financed was XXXX and all seemed to be in order. But now when I log on to my account they are stating that I have a principal balance of XXXX to pay back still. Which is not in line with the TIL and other loan documents that I signed as well as the explanation they gave me of what I would be paying interest on. I called Upgrade and questioned this but did not receive an satisfactory explanation.
Frequently Asked Questions
What is Complaint #5059436 about?
Complaint #5059436 was filed against Upgrade, INC. regarding Payday loan, title loan, or personal loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2021-12-31T12:00:00-05:00.
How did Upgrade, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, or personal loan) and describe your issue in detail.
Can I see other complaints against Upgrade, INC.?
Yes, visit the Upgrade, INC. company profile at readthecomplaint.com/company/upgrade-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.