I was applying for a loan with this company and I sent them all the documents they asked for until they asked for the Social Security award letter that stated my disability.
I told them that was beyond personal and to forget it and cancel my application.
Then I was sent an email that Avant had checked my credit score every time they talked to me on the phone. For this reason my credit score was dropped 50 points! They had it in their computer and had no reason to keep checking it every time we talked! I am very upset about this it takes a long time to get 50 pts. on your credit score!
Dear [redacted], We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]. We are sorry to hear that you are dissatisfied with your customer experience. At Avant, we pride ourselves in providing excellent service to all...
of our customers and take all feedback seriously.As you are aware, on October 27, 2016, you submitted an inquiry for credit with the Avant Platform via [redacted]. Please be advised that WebBank is the credit-issuer for the Avant Platform, a closed-end installment loan program where Avant operates as the administrator and servicer of the program.Please note that [redacted]’s website clearly discloses that all loan terms advertised through their website are subject to review and approval. Upon receipt of your inquiry for credit, Avant determined that you did not qualify for a loan. We have reviewed your account and determined that your loan request was correctly declined. All applications are considered in accordance with WebBank’s established credit policy. Rates are determined on an individual basis and are based on a number of factors including your credit score, repayment history, debt-to-income ratio, etc.As a matter of policy, we rely on the information provided directly by TransUnion when making our credit decisions. Please be advised that the credit score reported in your Notice of Adverse action is your FICO Classic 08 score as reported by TransUnion. We are confident we comply with all applicable state and federal rules, laws and regulations. You are welcome to reapply after a waiting period of 30 days following your decline. We trust this explanation resolves this matter. At Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you. Sincerely,Avant Compliance Department
Dear [redacted]We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted] We are sorry to hear that you are dissatisfied with your customer experience. At Avant, we pride ourselves in providing excellent service to all of our customers and take all...
feedback seriously.On November 10, 2015, you submitted an inquiry for credit with Avant via a third party marketing affiliate, [redacted]. That same day, you were approved for a loan in the amount of $3,000.00 and executed a loan agreement outlining the terms. Please be advised, the terms of your loan were clearly and fully disclosed on the company website, during the application process, and in your loan agreement. Please note, although you are welcome to apply for refinancing, customers are not provided with a disclosure during the initial loan request process advising them of their refinancing eligibility. On February 29, 2016, you contacted Avant via email to inquire about refinancing. At this time, you were provided with a link to our refinance request page. Upon submission of your refinance inquiry, it was determined that you did not qualify for refinancing at that time, and you were subsequently sent a Notice of Adverse Action. On July 15, 2016, you submitted another refinance inquiry. That same day, it was determined that you did not qualify for refinancing and you were subsequently sent a Notice of Adverse Action. Please note that, just like your initial loan request, refinance requests are considered in accordance with established credit policy.Upon receipt of your dispute with the Revdex.com, Avant reviewed your account and found that we are unable to grant your request to decrease the Annual Percentage Rate of your loan. Once issued, the terms of a loan are fixed until the loan is repaid in full. You are welcome to reapply to refinance your current loan, however there is a waiting period of 30 days after being declined.We trust this explanation resolves this matter. At Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [redacted]. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Dear [redacted]We are in receipt of your complaint with the Revdex.com (Complaint ID #[redacted]. We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant, we pride ourselves in providing excellent service to all of our...
customers and take all feedback seriously.On December 30, 2015, you contacted Avant telephonically and expressed interest in being placed on a long term payment plan. Later that same day, Avant e-mailed you the long term payment plan agreement with the first payment due on January 15, 2016, to be executed by you and returned. Avant never received your signed agreement.On February 1, 2016, you contacted Avant telephonically to make a payment. At this time, Avant informed you that we had not received your executed long term payment plan agreement. Accordingly, Avant was unable to implement the payment plan.On February 5, 2016, you contacted Avant telephonically to make a payment and to inquire about the long term payment plan. At this time, Avant informed you once more that we had not received your executed payment plan agreement and, therefore, you were not placed on such plan. On February 12, 2016, you contacted Avant telephonically and requested to be placed on a new long term payment plan. Accordingly, Avant set up a new payment plan with your first payment due on February 26, 2016. Additionally, Avant sent an updated agreement to be executed and returned.On February 16, 2016, you contacted Avant telephonically to confirm that Avant received your executed agreement. At this time, Avant informed you that your executed agreement was received and your first payment was due on February 26, 2016. You indicated that you understood.On March 16, 2016, Avant contacted you via e-mail to inform you that your long term payment plan had been terminated due to missing your first installment that was due on February 26, 2016. Avant has reviewed your account and found that we are unable to reinstate your previous long term payment plan as you did not make your first installment as agreed. If you are experiencing difficulty making monthly payments we advise you to contact customer support at [redacted] to discuss repayment options. We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [redacted]m. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Dear [redacted] We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]). We are sorry to hear that you are dissatisfied with your customer experience. At Avant, we pride ourselves in providing excellent service...
to all of our customers and take all feedback seriously. On August 8, 2016, Avant received a paper check payment that included insufficient identifying information to apply to a customer account. It should be noted that the check, sent via a financial institution, contained a different name, address, and bank account number than what is on file for your account. On August 9, 2016, you contacted Avant via telephone and inquired about whether the paper check had been received. As insufficient information was present to definitively associate the check with a customer account, you were advised that no check had been applied to your account at that time.On August 11, 2016, as the payment to pay your loan in full had not been posted to your account, your regularly scheduled installment payment was debited. On August 27, 2016, you contacted Avant to follow up on your claim that a payoff check from your financial institution had been provided. You stated the check cleared on August 9, 2016, but had not posted to your account. During this call, the Customer Support specialist requested a check number for the payment, which you agreed to provide. Later that day, you emailed Avant and provided additional information regarding the paper check sent from your financial institution, including the check number for the payment. Using the information you provided, Avant was able to identify the check in question and apply it to your account.On September 6, 2016, you were contacted via email and informed the paper check had been applied to your account with an effective date of August 8, 2016, and the payment amount provided was sufficient to satisfy your loan balance effective that date. You were also informed that a refund for the installment payment that had processed August 11, 2016 had been approved. This refund was issued on September 7, 2016. That same day, confirmation that your loan was paid in full was sent to the email address on file.We trust this explanation resolves this matter. At Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you. Sincerely,Avant Compliance Department
Why do you continually charge late fees to customers who DO PAY on time???? How many times do you think I'm going to fall for your extra $25 late fee scam when I have my bank records that show payments received and posted on or before the due date? I will never recommend anyone I know do any kind of business with Avant, my entire experience has been horrible, to say the least....
Can't pay off this loan FAST ENOUGH and be done with Avant!
I needed money for vehicle repairs, etc. The good news is that the loan approval process was quick and easy. The money was deposited into my checking account the next day. Their interest rates are very high. My interest rate was 32%. I knew this before I accepted the money so I can't fault them for that. I originally borrowed $10,000. My balance was still $9,763 after making seven monthly on time payments totaling $2,161.57. Like a mortgage loan from a bank, most of the payments in the beginning are applied to the interest with little to none of the payment applied to the principle. There were several months where my payments were only applied to the interest. They also cashed a check for a payment, but never applied it to the loan. I had to send them proof from my bank showing that they cashed my check. They fixed their mistake, but it was a headache to say the least. I will never borrow money from Avant again. I would only recommend them as a last resort. Be careful though because it will cost you a lot more in the long run like it did me. Thankfully, I was able to borrow the money from a family member to pay the loan off early.
Dear Ruth-Elizabeth [redacted],We are in receipt of your complaint with the Revdex.com (Complaint ID # 11122360). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant, we pride ourselves in providing excellent...
service to all of our customers and take all feedback seriously.As you know, on February 24, 2016, you contacted Avant telephonically. During this call, Avant addressed your concerns regarding your account. Additionally, as a courtesy, Avant provided you with a Long Term Payment Plan in order to return your account to current status.We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Complaint: [redacted]
I am rejecting this response because:
I feel the information as well as the terms and conditions should be better displayed. The interest from day one should be clearer should be addressed before the loan process is completed. Another issue I would like to address is the fact that I sent another voided check out and my account still has my old checking account which I do not have any more. I never got the email confirmation stating that I agree to the terms of change in account. Where did this voided check go? I find it suspicious that I cant log onto my account and change it right from my log in page. Every account that I have when I need to change any information I can log in and change it right on the page.
Sincerely,
[redacted]
Initial Business Response /* (1000, 5, 2015/08/12) */
Dear[redacted]
We are in receipt of your complaint with the Revdex.com (Case #XXXXXXXX). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant we pride ourselves in...
providing excellent customer service to all of our customers and take all feedback seriously.
Our records indicate that, on March 25, 2015, you agreed to a Short Term Payment Plan with Avant in order to catch up on your past due balance. This plan was comprised of 3 payments in the amount of $170.31 each, to be due on April 13, 2015, [redacted] 14, 2015, and June 15, 2015, respectively. Using your Customer Dashboard, you moved the payment dates of the payments due on May 14, 2015 and June 15, 2015 to July 9, 2015.
On June 18, 2015, Avant received notification from you that you had a retained an attorney for the purposes of filing bankruptcy. As such, all subsequent communications were directed toward your attorney. We have attempted to contact the law firm which you indicated was handling your case on multiple occasions. As of today's date, we have been unable to confirm a relationship with said firm. Additionally, we have searched the U.S. Bankruptcy Court Database site and found no record of a bankruptcy filing on your behalf. As you know, the Automatic Bankruptcy Stay does not go into effect until the bankruptcy petition is filed. As such, until the documentation for a bankruptcy filing has been submitted, collections activity may continue.
On July 9, 2015, both of the payments moved by you were debited from the bank account on file. Later this same day, you contacted Avant via email and advised us that you wished to opt out of automatic payments. Accordingly, your account was updated and no further attempts to debit payments from your bank account have been made.
On July 13, 2015, you contacted Avant telephonically in order to discuss the payments debited from your account on July 9, 2015. You stated that these payments should not have been debited. Your account was placed under review and you were informed that the status of your refund request would be determined after a thorough investigation into your account.
On July 30, 2015, you were informed that your refund request had been denied. It was explained to you that these payments were a part of your Short Term Payment Plan and that your request to opt out of ACH payments had not been received until after the scheduled payments had been processed. Additionally, you were advised that we had been unable to locate your bankruptcy case. We apologize for any inconvenience you may have experienced.
Here at Avant we go to great lengths to ensure a transparent and customer focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you.
Sincerely,
Avant Compliance Department
Initial Consumer Rebuttal /* (3000, 7, 2015/08/13) */
(The consumer indicated he/she DID NOT accept the response from the business.)
It does not get me back the money they should not have taken.
Dear [redacted]We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]). We are sorry to hear that you are dissatisfied with your customer experience. Here at Avant, we pride ourselves in providing excellent service to all of our customers and take...
all feedback seriously.On April 15, 2015, you submitted an inquiry for credit with Avant via a third party marketing affiliate, Lending Tree. That same day, you were approved for a loan in the amount of $16,000.00 and executed a loan agreement outlining the terms.On February 4, 2016, in order to assist you in making payments, Avant provided you with a long term payment plan agreement with monthly payments of $290.00, to be signed and returned. That same day, Avant received your signed long term payment plan agreement and implemented the changes to your account. According to our records, you indicated in the returned payment plan that you would be making your monthly payments via paper check. Accordingly, Avant did not automatically debit your monthly payments. Please note that your full payment schedule, including future payments, can be viewed at any time via your Customer Dashboard. However, at no time did the dashboard indicate that your payments would be debited automatically. On February 16, 2016, Avant received your monthly long term payment plan payment via paper check. That same day, your payment in the amount $290.00 was processed and applied to your account.On March 3, 2016, you scheduled your monthly long term payment plan payment to be debited via ACH from your customer dashboard. Accordingly, on March 4, 2016, Avant received your payment in the amount of $290.00.On April 26, 2016, you missed your scheduled long term payment plan payment. Per the terms of your long term payment plan agreement, the payment plan would be deactivated if any payment is missed and not made up within 10 days of the due date. On May 7, 2016, your long term payment plan was deactivated as your April installment payment was not made within the established 10 day grace period.On May 26, 2016, you contacted Avant via e-mail to inquire why your April installment payment was not debited from your account. On May 31, 2016, Avant informed you via e-mail that you selected the repayment option of paper check for your long term payment plan and, as such, Avant was unable to automatically debit payments from your bank account. Also on May 31, 2016, you contacted Avant telephonically and expressed interest in a settlement offer. Per your request, Avant offered you a settlement in the amount of $2,134.50. Later that day, you accepted Avant’s settlement offer and agreed to make the settlement payment the following day.On June 1, 2016, Avant received your settlement payment in the amount $2,134.50. As a result, your account with Avant is now considered settled.Upon receipt of your complaint, Avant reviewed the reporting of your account and determined that all information reported on behalf of your account prior to your settlement was accurate. Additionally, on June 7, 2016, Avant filed an update for your account to the credit reporting agencies. This update reports your account as settled. Please be advised, we are unable to report settled accounts as paid off.We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Initial Business Response /* (1000, 5, 2015/09/10) */
Dear[redacted]
We are in receipt of your complaint with the Revdex.com (Case #XXXXXXXX). Accordingly, an investigation into your account is pending and we will provide a response to your complaint as soon as possible....
We appreciate your patience and cooperation in the matter.
If you have any immediate questions or concerns, please contact our Compliance Department directly at [redacted]@Avant.com. We appreciate the opportunity to serve you.
Sincerely,
Avant Compliance Department
Initial Consumer Rebuttal /* (3000, 7, 2015/09/11) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I would like a letter from avant signed by executive stating that the loan is PAID IN FULL and another letter stating that my bank account information has been deleted from their records.. I also would like a monetary amount of 500.00 for the harrasment from bill collectors and emails regarding delinquency of my loan that was pif in april 2015, not to mention the remote deduction from my account that caused late pmts on other responsibilities.the fact that the deduction was taken from my account 2 weeks after proof emailed that loan was paid in full and having to wait 5 days before refund was credited back.
Final Business Response /* (4000, 9, 2015/09/18) */
Dear[redacted]
We are in receipt of your complaint with the Revdex.com (Case # XXXXXXXX). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant we pride ourselves in providing excellent customer service to all of our customers and take all feedback seriously.
As communicated to you on August 26, 2015, it was determined that your loan status was inadvertently reverted to "active" rather than "paid off" due to an isolated process issue. We apologize for the inconvenience.
As you know, the issue has since been resolved and a refund in the amount of $302.14 was sent to the bank account on file on September 1, 2015. On September 17, 2015, Avant contacted you telephonically to confirm that you received the refund and apologize for your experience. As such, we consider this matter resolved.
Here at Avant we go to great lengths to ensure a transparent and customer focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [redacted]@Avant.com. We appreciate the opportunity to serve you.
Sincerely,
Avant Compliance Department
Dear [redacted],We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]. We are sorry to hear that you are dissatisfied with your customer experience with Avant. We pride ourselves in providing excellent service to all of our customers and take all...
feedback seriously.On June 28, 2015, you submitted an inquiry for credit via a third party marketing affiliate, [redacted]. That same day, you were approved for a loan in the amount of $4,000.00 and executed a loan agreement.On April 7, 2016, you scheduled your final payment for this loan via the Customer Dashboard at www.Avant.com in the amount of $3,587.86. That same day, your loan was marked as “paid off”.On April 12, 2016, you submitted a second inquiry for credit via www.Avant.com and requested a loan amount of $15,000.00. Please note that credit is determined on an individual basis and is based on a number of factors including, but not limited to, your credit score, repayment history, and debt to income ratio. That same day, Avant reviewed your inquiry and determined that we were unable to approve your request. Accordingly, Avant provided you with a notice of adverse action. On May 10, 2016, you were provided with a list of reasons why your loan request was declined. Please note, this list indicated you were declined based on information submitted during your loan request, and not as a result of the cool off period. Upon receipt of your complaint via the Revdex.com, Avant reviewed your account and determined that you were correctly informed of the day you were eligible to reapply via the mobile app. Additionally, you are welcome to reapply 30 days after your loan request was declined. We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [redacted] We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Initial Business Response /* (1000, 5, 2014/09/03) */
Contact Name and Title: M. [redacted], Compliance
Contact Phone: XXX-XXX-XXXX #477
Contact Email: [redacted]@avantcredit.com
Dear Mr. [redacted],
We are in receipt of your complaint with the Revdex.com (Case #XXXXXXXX). We...
are sorry that you are dissatisfied with your customer experience with AvantCredit. After reviewing your account, we have found that you began your application on August 16, 2014. During the approval process, our verifications team does an extremely thorough job ensuring that your employment and income is confirmed in order to prevent identity theft and fraud. Please be advised that all financial companies including both AvantCredit and [redacted] are required by federal law to collect customers' personal information to run their everyday business purposes, such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus. To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured les and buildings. Further, federal and state law requires us to keep all application information for a minimum of 24 months.
Our verifications team spent a total of three (3) days attempting to verify your employment between August 17-20, 2014. During this period, we also requested a recent paystub to try to expedite the process. Because your business check did not qualify as a proper paystub, our team erroneously emailed you asking to upload both (1) your most recent Tax Form 1040 (both pages) with accompanying schedule(s) C, E, or F OR your most recent Tax Form 1065 with K1 as well as (2) personal bank account verification. We apologize for this communication.
Per our records, after the confusion regarding employment documents, you decided to cancel your application on August 24, 2014. We certainly understand your frustration. When reviewing your account in detail, we found that you are still eligible for a loan so long as you simply upload your 2013 1040 tax form. We will be able to process that immediately and encourage you to complete this process.
Here at AvantCredit we pride ourselves in providing excellent customer service to all of our customers. If you require any assistance in continuing your applications or have any other questions or concerns, please do not hesitate to contact our Compliance Department at [redacted]@AvantCredit.com. Thank you for your time and we look forward to hearing from you.
Sincerely,
AvantCredit Compliance Department
Initial Business Response /* (1000, 5, 2014/06/12) */
Contact Name and Title: [redacted], Compliance
Contact Phone: XXX-XXX-XXXX #477
Contact Email: [redacted]@avantcredit.com
Dear [redacted],
We were recently notified of your complaint regarding your revolving credit line with...
AvantCredit. The monthly minimum payment (including the monthly minimum charge) for this particular product was fully disclosed on the Company website at the time of application and is detailed in your account agreement. The agreement has been sent to you for reference purposes. Per your account agreement, the minimum monthly
payment due will equal 1% of your outstanding principal at the end of each billing cycle plus the minimum charge, unpaid interest charge due for that billing cycle plus any late payment fees and returned payment fees.
We have reached out in an effort to discuss possible payment arrangements despite the accuracy of the current monthly minimum due. Please be advised that we are confident that AvantCredit of [redacted] LLC complies with all applicable state and federal rules, laws and regulations.
Please contact our Compliance Department directly.
Sincerely,
AvantCredit
Initial Consumer Rebuttal /* (3000, 7, 2014/06/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The contract doesn't explicitly say the "monthly charge" and flat rate of $120. I don't see this is going anywhere, so I would just take this to the FTC and MD Office of the Commissioner of Financial Regulation because this is clearly in violation of the Maryland and Federal Laws.
Excerpt from the MD Office of the Commissioner of Financial Regulations website:
Your Protection under Federal Law
Generally, the Federal Truth and Lending Act treats "payday" loans like other types of credit:
The lender must disclose the cost of the loan;
The lender must disclose the finance charge (a dollar amount);
The lender must disclose the annual percentage rate (APR- the cost of the credit on a yearly basis);
The lender must put these and other terms of the loan in writing before you sign for or authorize the loan.
If you believe a lender has violated the Truth in Lending Act, file a complaint with the Federal Trade Commission toll free, 1-877-FTC-HELP/ X-XXX-XXX-XXXX or use the online complaint form.
Your Protection under MD Law
Under Maryland law, most lenders are required to be licensed by the Commissioner of Financial Regulation (MD Code Annotated Fin. Inst. §11-204). In addition, the interest rate is restricted depending on the loan size.
First $1,000 of a Loan $2,000 or less:
The interest rate a lender may charge for any loan with an original principal balance of $2,000 or less is 2.75 percent interest per month on that part of the unpaid balance not more than $1,000. Therefore, a lender is permitted to charge a maximum annual interest rate of 33 percent on loans up to $1,000 (MD Code Annotated Com. Law §12-306 (a) (6) (i)).
Next $1,000 of a $2,000 Loan:
The interest rate a lender may charge per month on that part of the unpaid principal balance that is more than $1,000 up to $2,000 is 2 percent per month (or a maximum annual interest rate of 24 percent, MD Code Annotated Com. Law §12-306 (a) (6) (i)).
Loans $6,000 or less:
Subject to certain exceptions, under Maryland law, a person is prohibited from lending $6,000 or less if the person charges or receives a greater rate of interest than that authorized by the laws of this State (MD Code Annotated Com. Law §12-314 (a)). For any loan with an original balance of more than $2,000, the maximum rate of interest is 2 percent per month on the unpaid principal balance of the loan. Therefore, the lender is permitted to charge a maximum annual interest rate of 24 percent on loans that are over $2,000 and do not exceed $6,000 (MD Code Annotated Com. Law §12-306 (6) (ii) (2012)).
If you believe a lender has violated the Maryland Consumer Loan Law, file a complaint with the Office of the Commissioner of Financial Regulation.
Consumer Services Unit:
XXX-XXX-XXXX or toll free XXX-XXX-XXXX
Additionally, please visit the Office of the Commissioner's website.
Final Business Response /* (4000, 9, 2014/06/26) */
We are sorry to hear that you have expressed dissatisfaction with one of our AvantCredit products. Here at AvantCredit we value all customer feedback and use it to enhance the overall customer experience.
Please be advised that the monthly minimum payment for this particular product was fully disclosed on the Company website, during the application process, and is detailed within your account agreement.
Specifically, your account agreement states as follows in the "Interest Rate and Interest Charges" section: "For each scheduled billing period during any portion of which there is an outstanding unpaid balance you will incur a
minimum charge, in addition to all other interest and charges under this Agreement, in an amount determined in the "Minimum Charge" section below."
The agreement further explicitly states the following language: "the minimum monthly payment due will equal 1% of your outstanding principal at the end of each billing cycle plus the minimum charge, unpaid interest charge due for that billing cycle plus any late payment fees and returned payment fees."
As you know, we have reached out to you directly in an effort to discuss possible payment arrangements despite the accuracy of the current monthly minimum payment due. In the interest of reaching a mutually satisfactory resolution, please contact our Compliance Department directly at your earliest convenience.
Sincerely,
AvantCredit
Dear [redacted] We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]). We are sorry to hear that you are dissatisfied with your customer experience. At Avant, we pride ourselves in providing excellent...
service to all of our customers and take all feedback seriously. As you are aware, on August 19, 2016, Avant emailed a response to a recent inquiry you submitted regarding an August 9, 2016 charge on your account, informing you that the charge in question had been identified and a refund would be issued shortly. On August 24, 2016, a representative of the Avant Compliance Department contacted you via telephone in an effort to address your complaint. You were informed that a technical issue with one of our vendors resulted in a debit card payment, initially scheduled November 16, 2015, being initiated on August 8, 2016 and processed on August 9, 2016. During this call, you confirmed the refund detailed in the August 19, 2016 email had reached your account.Additionally, you were informed that your account was reported as 30-59 days past due effective May 31, 2016 in a recent credit reporting file as a result of your installment payment scheduled April 28, 2016 not having been satisfied in full by May 31, 2016. You were also informed that your account has since been reported as current for the June and July reporting periods.As expressed in the phone call, Avant would like to apologize for any inconvenience the August 9, 2016 debit may have caused.We trust this explanation resolves this matter. At Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you. Sincerely,Avant Compliance Department
Dear Bessie [redacted],We are in receipt of your complaint with the Revdex.com (Complaint ID # 11094567). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant we pride ourselves in providing excellent service to all of our customers...
and take all feedback seriously.As you know, on December 22, 2015, you contacted Avant telephonically and made a payment via debit card for your January installment, which was due on January 4, 2016. On December 23, 2015, you again contacted Avant via telephone and received a payoff quote for January 15, 2016 in the amount of $10,490.14. Due to an isolated system issue, this quote incorrectly assumed that your installment due on January 4, 2016 was still outstanding, and that this installment would be paid in addition to the quoted payoff amount. On January 19, 2016, Avant received a check in the amount of $10,490.14. As a result of the above-referenced issue, a remaining balance in the amount of your January installment was left on your account after this check was processed. In order to resolve this matter, Avant has waived this balance, and your account is now paid in full. On January 29, 2016, Avant contacted you telephonically and you indicated that you were satisfied with this result. As such, we consider this matter to be resolved. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Initial Business Response /* (1000, 5, 2014/09/18) */
Contact Name and Title: [redacted], Compliance
Contact Phone: XXX-XXX-XXXX [redacted]
Contact Email: [redacted]@avantcredit.com
Dear [redacted],
We are in receipt of your complaint with the Revdex.com (Case #XXXXXXXX)....
We are sorry to hear that you are dissatisfied with your AvantCredit experience. Here at AvantCredit we value all customer feedback and use it to enhance the overall customer experience.
Upon receiving this complaint, we have reached out to you multiple times directly in an effort to discuss the steps we are taking to amend your account history. Again, we apologize for any inconvenience that this matter might have caused.
We go great lengths to ensure a transparent, fair, and customer focused experience. Please contact our Compliance Department directly at your earliest convenience, and we will review your account in detail. If you decide to pay off your account in full and permanently close your line of credit, we can accommodate that request as well.
Sincerely,
AvantCredit Compliance Department
Dear [redacted]We are in receipt of your complaint with the RevDex.com (Complaint ID # [redacted]). We are sorry to hear that you are
dissatisfied with your customer experience with Avant. Here at Avant we pride
ourselves in providing excellent customer service to all of...
our customers and
take all feedback seriously.We have reviewed your account and determined that on
November 3, 2015, you contacted Avant via e-mail inquiring about where to send
a check to pay off your loan. That same day, Avant responded to your inquiry
with our mailing address.On November 12, 2015 Avant contacted you via e-mail
advising you that a payment via paper check in the amount of $4,326.00 had
posted to your account, effective November 10, 2015. Please be advised that
this payment was in excess of your outstanding balance as of November 10, 2015,
which was $4,207.20. Payments made via paper check can take up to fourteen
(14) days to confirm funds have been received. Accordingly, any applicable
refunds for overpayment in paying off the loan may take up to three (3) weeks
to send back to the customer.It should be noted that the month of November contains
two bank holidays, including Veteran’s Day and Thanksgiving. As such, a refund
in the amount of $118.80 was sent to the bank account on file, effective
December 2, 2015. Accordingly, we contacted you on December 3, 2015 to confirm
your receipt of the funds, and you indicated were satisfied and considered this
matter resolved.Here at Avant we go to great lengths to ensure a
transparent and customer focused experience. If you have any additional
questions or concerns, please contact our Compliance Department directly at
Compliance[redacted] We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Dear [redacted] We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant, we pride ourselves in providing excellent service to all of our...
customers and take all feedback seriously. On March 15, 2016, you submitted an inquiry for credit at www.Avant.com via a marketing affiliate, Credit Sesame. Based on the information you provided, you were pre-approved for a loan from [redacted] via the Avant Platform, pending final verification. Please note, the loan request process clearly discloses that loan funding is subject to final verification of the information submitted. Later that day, you contacted Avant regarding your loan request. During this call, the specialist asked if you were able to provide additional verifiable income which you declined. The specialist also properly informed you that no further information would be required prior to a decision being reached. Upon evaluation of the verified information, your loan request was denied. Accordingly, a notice of adverse action has been sent to the e-mail address on file. If you would like a statement of specific reasons for why your loan was declined, please contact Avant at [email protected]. We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you. Sincerely,Avant Compliance Department
I was applying for a loan with this company and I sent them all the documents they asked for until they asked for the Social Security award letter that stated my disability.
I told them that was beyond personal and to forget it and cancel my application.
Then I was sent an email that Avant had checked my credit score every time they talked to me on the phone. For this reason my credit score was dropped 50 points! They had it in their computer and had no reason to keep checking it every time we talked! I am very upset about this it takes a long time to get 50 pts. on your credit score!
Dear [redacted], We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]. We are sorry to hear that you are dissatisfied with your customer experience. At Avant, we pride ourselves in providing excellent service to all...
of our customers and take all feedback seriously.As you are aware, on October 27, 2016, you submitted an inquiry for credit with the Avant Platform via [redacted]. Please be advised that WebBank is the credit-issuer for the Avant Platform, a closed-end installment loan program where Avant operates as the administrator and servicer of the program.Please note that [redacted]’s website clearly discloses that all loan terms advertised through their website are subject to review and approval. Upon receipt of your inquiry for credit, Avant determined that you did not qualify for a loan. We have reviewed your account and determined that your loan request was correctly declined. All applications are considered in accordance with WebBank’s established credit policy. Rates are determined on an individual basis and are based on a number of factors including your credit score, repayment history, debt-to-income ratio, etc.As a matter of policy, we rely on the information provided directly by TransUnion when making our credit decisions. Please be advised that the credit score reported in your Notice of Adverse action is your FICO Classic 08 score as reported by TransUnion. We are confident we comply with all applicable state and federal rules, laws and regulations. You are welcome to reapply after a waiting period of 30 days following your decline. We trust this explanation resolves this matter. At Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you. Sincerely,Avant Compliance Department
Dear [redacted]We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted] We are sorry to hear that you are dissatisfied with your customer experience. At Avant, we pride ourselves in providing excellent service to all of our customers and take all...
feedback seriously.On November 10, 2015, you submitted an inquiry for credit with Avant via a third party marketing affiliate, [redacted]. That same day, you were approved for a loan in the amount of $3,000.00 and executed a loan agreement outlining the terms. Please be advised, the terms of your loan were clearly and fully disclosed on the company website, during the application process, and in your loan agreement. Please note, although you are welcome to apply for refinancing, customers are not provided with a disclosure during the initial loan request process advising them of their refinancing eligibility. On February 29, 2016, you contacted Avant via email to inquire about refinancing. At this time, you were provided with a link to our refinance request page. Upon submission of your refinance inquiry, it was determined that you did not qualify for refinancing at that time, and you were subsequently sent a Notice of Adverse Action. On July 15, 2016, you submitted another refinance inquiry. That same day, it was determined that you did not qualify for refinancing and you were subsequently sent a Notice of Adverse Action. Please note that, just like your initial loan request, refinance requests are considered in accordance with established credit policy.Upon receipt of your dispute with the Revdex.com, Avant reviewed your account and found that we are unable to grant your request to decrease the Annual Percentage Rate of your loan. Once issued, the terms of a loan are fixed until the loan is repaid in full. You are welcome to reapply to refinance your current loan, however there is a waiting period of 30 days after being declined.We trust this explanation resolves this matter. At Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [redacted]. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Dear [redacted]We are in receipt of your complaint with the Revdex.com (Complaint ID #[redacted]. We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant, we pride ourselves in providing excellent service to all of our...
customers and take all feedback seriously.On December 30, 2015, you contacted Avant telephonically and expressed interest in being placed on a long term payment plan. Later that same day, Avant e-mailed you the long term payment plan agreement with the first payment due on January 15, 2016, to be executed by you and returned. Avant never received your signed agreement.On February 1, 2016, you contacted Avant telephonically to make a payment. At this time, Avant informed you that we had not received your executed long term payment plan agreement. Accordingly, Avant was unable to implement the payment plan.On February 5, 2016, you contacted Avant telephonically to make a payment and to inquire about the long term payment plan. At this time, Avant informed you once more that we had not received your executed payment plan agreement and, therefore, you were not placed on such plan. On February 12, 2016, you contacted Avant telephonically and requested to be placed on a new long term payment plan. Accordingly, Avant set up a new payment plan with your first payment due on February 26, 2016. Additionally, Avant sent an updated agreement to be executed and returned.On February 16, 2016, you contacted Avant telephonically to confirm that Avant received your executed agreement. At this time, Avant informed you that your executed agreement was received and your first payment was due on February 26, 2016. You indicated that you understood.On March 16, 2016, Avant contacted you via e-mail to inform you that your long term payment plan had been terminated due to missing your first installment that was due on February 26, 2016. Avant has reviewed your account and found that we are unable to reinstate your previous long term payment plan as you did not make your first installment as agreed. If you are experiencing difficulty making monthly payments we advise you to contact customer support at [redacted] to discuss repayment options. We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [redacted]m. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Dear [redacted] We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]). We are sorry to hear that you are dissatisfied with your customer experience. At Avant, we pride ourselves in providing excellent service...
to all of our customers and take all feedback seriously. On August 8, 2016, Avant received a paper check payment that included insufficient identifying information to apply to a customer account. It should be noted that the check, sent via a financial institution, contained a different name, address, and bank account number than what is on file for your account. On August 9, 2016, you contacted Avant via telephone and inquired about whether the paper check had been received. As insufficient information was present to definitively associate the check with a customer account, you were advised that no check had been applied to your account at that time.On August 11, 2016, as the payment to pay your loan in full had not been posted to your account, your regularly scheduled installment payment was debited. On August 27, 2016, you contacted Avant to follow up on your claim that a payoff check from your financial institution had been provided. You stated the check cleared on August 9, 2016, but had not posted to your account. During this call, the Customer Support specialist requested a check number for the payment, which you agreed to provide. Later that day, you emailed Avant and provided additional information regarding the paper check sent from your financial institution, including the check number for the payment. Using the information you provided, Avant was able to identify the check in question and apply it to your account.On September 6, 2016, you were contacted via email and informed the paper check had been applied to your account with an effective date of August 8, 2016, and the payment amount provided was sufficient to satisfy your loan balance effective that date. You were also informed that a refund for the installment payment that had processed August 11, 2016 had been approved. This refund was issued on September 7, 2016. That same day, confirmation that your loan was paid in full was sent to the email address on file.We trust this explanation resolves this matter. At Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you. Sincerely,Avant Compliance Department
Why do you continually charge late fees to customers who DO PAY on time???? How many times do you think I'm going to fall for your extra $25 late fee scam when I have my bank records that show payments received and posted on or before the due date? I will never recommend anyone I know do any kind of business with Avant, my entire experience has been horrible, to say the least....
Can't pay off this loan FAST ENOUGH and be done with Avant!
I needed money for vehicle repairs, etc. The good news is that the loan approval process was quick and easy. The money was deposited into my checking account the next day. Their interest rates are very high. My interest rate was 32%. I knew this before I accepted the money so I can't fault them for that. I originally borrowed $10,000. My balance was still $9,763 after making seven monthly on time payments totaling $2,161.57. Like a mortgage loan from a bank, most of the payments in the beginning are applied to the interest with little to none of the payment applied to the principle. There were several months where my payments were only applied to the interest. They also cashed a check for a payment, but never applied it to the loan. I had to send them proof from my bank showing that they cashed my check. They fixed their mistake, but it was a headache to say the least. I will never borrow money from Avant again. I would only recommend them as a last resort. Be careful though because it will cost you a lot more in the long run like it did me. Thankfully, I was able to borrow the money from a family member to pay the loan off early.
Dear Ruth-Elizabeth [redacted],We are in receipt of your complaint with the Revdex.com (Complaint ID # 11122360). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant, we pride ourselves in providing excellent...
service to all of our customers and take all feedback seriously.As you know, on February 24, 2016, you contacted Avant telephonically. During this call, Avant addressed your concerns regarding your account. Additionally, as a courtesy, Avant provided you with a Long Term Payment Plan in order to return your account to current status.We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Complaint: [redacted]
I am rejecting this response because:
I feel the information as well as the terms and conditions should be better displayed. The interest from day one should be clearer should be addressed before the loan process is completed. Another issue I would like to address is the fact that I sent another voided check out and my account still has my old checking account which I do not have any more. I never got the email confirmation stating that I agree to the terms of change in account. Where did this voided check go? I find it suspicious that I cant log onto my account and change it right from my log in page. Every account that I have when I need to change any information I can log in and change it right on the page.
Sincerely,
[redacted]
Initial Business Response /* (1000, 5, 2015/08/12) */
Dear[redacted]
We are in receipt of your complaint with the Revdex.com (Case #XXXXXXXX). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant we pride ourselves in...
providing excellent customer service to all of our customers and take all feedback seriously.
Our records indicate that, on March 25, 2015, you agreed to a Short Term Payment Plan with Avant in order to catch up on your past due balance. This plan was comprised of 3 payments in the amount of $170.31 each, to be due on April 13, 2015, [redacted] 14, 2015, and June 15, 2015, respectively. Using your Customer Dashboard, you moved the payment dates of the payments due on May 14, 2015 and June 15, 2015 to July 9, 2015.
On June 18, 2015, Avant received notification from you that you had a retained an attorney for the purposes of filing bankruptcy. As such, all subsequent communications were directed toward your attorney. We have attempted to contact the law firm which you indicated was handling your case on multiple occasions. As of today's date, we have been unable to confirm a relationship with said firm. Additionally, we have searched the U.S. Bankruptcy Court Database site and found no record of a bankruptcy filing on your behalf. As you know, the Automatic Bankruptcy Stay does not go into effect until the bankruptcy petition is filed. As such, until the documentation for a bankruptcy filing has been submitted, collections activity may continue.
On July 9, 2015, both of the payments moved by you were debited from the bank account on file. Later this same day, you contacted Avant via email and advised us that you wished to opt out of automatic payments. Accordingly, your account was updated and no further attempts to debit payments from your bank account have been made.
On July 13, 2015, you contacted Avant telephonically in order to discuss the payments debited from your account on July 9, 2015. You stated that these payments should not have been debited. Your account was placed under review and you were informed that the status of your refund request would be determined after a thorough investigation into your account.
On July 30, 2015, you were informed that your refund request had been denied. It was explained to you that these payments were a part of your Short Term Payment Plan and that your request to opt out of ACH payments had not been received until after the scheduled payments had been processed. Additionally, you were advised that we had been unable to locate your bankruptcy case. We apologize for any inconvenience you may have experienced.
Here at Avant we go to great lengths to ensure a transparent and customer focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you.
Sincerely,
Avant Compliance Department
Initial Consumer Rebuttal /* (3000, 7, 2015/08/13) */
(The consumer indicated he/she DID NOT accept the response from the business.)
It does not get me back the money they should not have taken.
Dear [redacted]We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]). We are sorry to hear that you are dissatisfied with your customer experience. Here at Avant, we pride ourselves in providing excellent service to all of our customers and take...
all feedback seriously.On April 15, 2015, you submitted an inquiry for credit with Avant via a third party marketing affiliate, Lending Tree. That same day, you were approved for a loan in the amount of $16,000.00 and executed a loan agreement outlining the terms.On February 4, 2016, in order to assist you in making payments, Avant provided you with a long term payment plan agreement with monthly payments of $290.00, to be signed and returned. That same day, Avant received your signed long term payment plan agreement and implemented the changes to your account. According to our records, you indicated in the returned payment plan that you would be making your monthly payments via paper check. Accordingly, Avant did not automatically debit your monthly payments. Please note that your full payment schedule, including future payments, can be viewed at any time via your Customer Dashboard. However, at no time did the dashboard indicate that your payments would be debited automatically. On February 16, 2016, Avant received your monthly long term payment plan payment via paper check. That same day, your payment in the amount $290.00 was processed and applied to your account.On March 3, 2016, you scheduled your monthly long term payment plan payment to be debited via ACH from your customer dashboard. Accordingly, on March 4, 2016, Avant received your payment in the amount of $290.00.On April 26, 2016, you missed your scheduled long term payment plan payment. Per the terms of your long term payment plan agreement, the payment plan would be deactivated if any payment is missed and not made up within 10 days of the due date. On May 7, 2016, your long term payment plan was deactivated as your April installment payment was not made within the established 10 day grace period.On May 26, 2016, you contacted Avant via e-mail to inquire why your April installment payment was not debited from your account. On May 31, 2016, Avant informed you via e-mail that you selected the repayment option of paper check for your long term payment plan and, as such, Avant was unable to automatically debit payments from your bank account. Also on May 31, 2016, you contacted Avant telephonically and expressed interest in a settlement offer. Per your request, Avant offered you a settlement in the amount of $2,134.50. Later that day, you accepted Avant’s settlement offer and agreed to make the settlement payment the following day.On June 1, 2016, Avant received your settlement payment in the amount $2,134.50. As a result, your account with Avant is now considered settled.Upon receipt of your complaint, Avant reviewed the reporting of your account and determined that all information reported on behalf of your account prior to your settlement was accurate. Additionally, on June 7, 2016, Avant filed an update for your account to the credit reporting agencies. This update reports your account as settled. Please be advised, we are unable to report settled accounts as paid off.We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Initial Business Response /* (1000, 5, 2015/09/10) */
Dear[redacted]
We are in receipt of your complaint with the Revdex.com (Case #XXXXXXXX). Accordingly, an investigation into your account is pending and we will provide a response to your complaint as soon as possible....
We appreciate your patience and cooperation in the matter.
If you have any immediate questions or concerns, please contact our Compliance Department directly at [redacted]@Avant.com. We appreciate the opportunity to serve you.
Sincerely,
Avant Compliance Department
Initial Consumer Rebuttal /* (3000, 7, 2015/09/11) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I would like a letter from avant signed by executive stating that the loan is PAID IN FULL and another letter stating that my bank account information has been deleted from their records.. I also would like a monetary amount of 500.00 for the harrasment from bill collectors and emails regarding delinquency of my loan that was pif in april 2015, not to mention the remote deduction from my account that caused late pmts on other responsibilities.the fact that the deduction was taken from my account 2 weeks after proof emailed that loan was paid in full and having to wait 5 days before refund was credited back.
Final Business Response /* (4000, 9, 2015/09/18) */
Dear[redacted]
We are in receipt of your complaint with the Revdex.com (Case # XXXXXXXX). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant we pride ourselves in providing excellent customer service to all of our customers and take all feedback seriously.
As communicated to you on August 26, 2015, it was determined that your loan status was inadvertently reverted to "active" rather than "paid off" due to an isolated process issue. We apologize for the inconvenience.
As you know, the issue has since been resolved and a refund in the amount of $302.14 was sent to the bank account on file on September 1, 2015. On September 17, 2015, Avant contacted you telephonically to confirm that you received the refund and apologize for your experience. As such, we consider this matter resolved.
Here at Avant we go to great lengths to ensure a transparent and customer focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [redacted]@Avant.com. We appreciate the opportunity to serve you.
Sincerely,
Avant Compliance Department
Dear [redacted],We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]. We are sorry to hear that you are dissatisfied with your customer experience with Avant. We pride ourselves in providing excellent service to all of our customers and take all...
feedback seriously.On June 28, 2015, you submitted an inquiry for credit via a third party marketing affiliate, [redacted]. That same day, you were approved for a loan in the amount of $4,000.00 and executed a loan agreement.On April 7, 2016, you scheduled your final payment for this loan via the Customer Dashboard at www.Avant.com in the amount of $3,587.86. That same day, your loan was marked as “paid off”.On April 12, 2016, you submitted a second inquiry for credit via www.Avant.com and requested a loan amount of $15,000.00. Please note that credit is determined on an individual basis and is based on a number of factors including, but not limited to, your credit score, repayment history, and debt to income ratio. That same day, Avant reviewed your inquiry and determined that we were unable to approve your request. Accordingly, Avant provided you with a notice of adverse action. On May 10, 2016, you were provided with a list of reasons why your loan request was declined. Please note, this list indicated you were declined based on information submitted during your loan request, and not as a result of the cool off period. Upon receipt of your complaint via the Revdex.com, Avant reviewed your account and determined that you were correctly informed of the day you were eligible to reapply via the mobile app. Additionally, you are welcome to reapply 30 days after your loan request was declined. We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [redacted] We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Initial Business Response /* (1000, 5, 2014/09/03) */
Contact Name and Title: M. [redacted], Compliance
Contact Phone: XXX-XXX-XXXX #477
Contact Email: [redacted]@avantcredit.com
Dear Mr. [redacted],
We are in receipt of your complaint with the Revdex.com (Case #XXXXXXXX). We...
are sorry that you are dissatisfied with your customer experience with AvantCredit. After reviewing your account, we have found that you began your application on August 16, 2014. During the approval process, our verifications team does an extremely thorough job ensuring that your employment and income is confirmed in order to prevent identity theft and fraud. Please be advised that all financial companies including both AvantCredit and [redacted] are required by federal law to collect customers' personal information to run their everyday business purposes, such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus. To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured les and buildings. Further, federal and state law requires us to keep all application information for a minimum of 24 months.
Our verifications team spent a total of three (3) days attempting to verify your employment between August 17-20, 2014. During this period, we also requested a recent paystub to try to expedite the process. Because your business check did not qualify as a proper paystub, our team erroneously emailed you asking to upload both (1) your most recent Tax Form 1040 (both pages) with accompanying schedule(s) C, E, or F OR your most recent Tax Form 1065 with K1 as well as (2) personal bank account verification. We apologize for this communication.
Per our records, after the confusion regarding employment documents, you decided to cancel your application on August 24, 2014. We certainly understand your frustration. When reviewing your account in detail, we found that you are still eligible for a loan so long as you simply upload your 2013 1040 tax form. We will be able to process that immediately and encourage you to complete this process.
Here at AvantCredit we pride ourselves in providing excellent customer service to all of our customers. If you require any assistance in continuing your applications or have any other questions or concerns, please do not hesitate to contact our Compliance Department at [redacted]@AvantCredit.com. Thank you for your time and we look forward to hearing from you.
Sincerely,
AvantCredit Compliance Department
Initial Business Response /* (1000, 5, 2014/06/12) */
Contact Name and Title: [redacted], Compliance
Contact Phone: XXX-XXX-XXXX #477
Contact Email: [redacted]@avantcredit.com
Dear [redacted],
We were recently notified of your complaint regarding your revolving credit line with...
AvantCredit. The monthly minimum payment (including the monthly minimum charge) for this particular product was fully disclosed on the Company website at the time of application and is detailed in your account agreement. The agreement has been sent to you for reference purposes. Per your account agreement, the minimum monthly
payment due will equal 1% of your outstanding principal at the end of each billing cycle plus the minimum charge, unpaid interest charge due for that billing cycle plus any late payment fees and returned payment fees.
We have reached out in an effort to discuss possible payment arrangements despite the accuracy of the current monthly minimum due. Please be advised that we are confident that AvantCredit of [redacted] LLC complies with all applicable state and federal rules, laws and regulations.
Please contact our Compliance Department directly.
Sincerely,
AvantCredit
Initial Consumer Rebuttal /* (3000, 7, 2014/06/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The contract doesn't explicitly say the "monthly charge" and flat rate of $120. I don't see this is going anywhere, so I would just take this to the FTC and MD Office of the Commissioner of Financial Regulation because this is clearly in violation of the Maryland and Federal Laws.
Excerpt from the MD Office of the Commissioner of Financial Regulations website:
Your Protection under Federal Law
Generally, the Federal Truth and Lending Act treats "payday" loans like other types of credit:
The lender must disclose the cost of the loan;
The lender must disclose the finance charge (a dollar amount);
The lender must disclose the annual percentage rate (APR- the cost of the credit on a yearly basis);
The lender must put these and other terms of the loan in writing before you sign for or authorize the loan.
If you believe a lender has violated the Truth in Lending Act, file a complaint with the Federal Trade Commission toll free, 1-877-FTC-HELP/ X-XXX-XXX-XXXX or use the online complaint form.
Your Protection under MD Law
Under Maryland law, most lenders are required to be licensed by the Commissioner of Financial Regulation (MD Code Annotated Fin. Inst. §11-204). In addition, the interest rate is restricted depending on the loan size.
First $1,000 of a Loan $2,000 or less:
The interest rate a lender may charge for any loan with an original principal balance of $2,000 or less is 2.75 percent interest per month on that part of the unpaid balance not more than $1,000. Therefore, a lender is permitted to charge a maximum annual interest rate of 33 percent on loans up to $1,000 (MD Code Annotated Com. Law §12-306 (a) (6) (i)).
Next $1,000 of a $2,000 Loan:
The interest rate a lender may charge per month on that part of the unpaid principal balance that is more than $1,000 up to $2,000 is 2 percent per month (or a maximum annual interest rate of 24 percent, MD Code Annotated Com. Law §12-306 (a) (6) (i)).
Loans $6,000 or less:
Subject to certain exceptions, under Maryland law, a person is prohibited from lending $6,000 or less if the person charges or receives a greater rate of interest than that authorized by the laws of this State (MD Code Annotated Com. Law §12-314 (a)). For any loan with an original balance of more than $2,000, the maximum rate of interest is 2 percent per month on the unpaid principal balance of the loan. Therefore, the lender is permitted to charge a maximum annual interest rate of 24 percent on loans that are over $2,000 and do not exceed $6,000 (MD Code Annotated Com. Law §12-306 (6) (ii) (2012)).
If you believe a lender has violated the Maryland Consumer Loan Law, file a complaint with the Office of the Commissioner of Financial Regulation.
Consumer Services Unit:
XXX-XXX-XXXX or toll free XXX-XXX-XXXX
Additionally, please visit the Office of the Commissioner's website.
Final Business Response /* (4000, 9, 2014/06/26) */
We are sorry to hear that you have expressed dissatisfaction with one of our AvantCredit products. Here at AvantCredit we value all customer feedback and use it to enhance the overall customer experience.
Please be advised that the monthly minimum payment for this particular product was fully disclosed on the Company website, during the application process, and is detailed within your account agreement.
Specifically, your account agreement states as follows in the "Interest Rate and Interest Charges" section: "For each scheduled billing period during any portion of which there is an outstanding unpaid balance you will incur a
minimum charge, in addition to all other interest and charges under this Agreement, in an amount determined in the "Minimum Charge" section below."
The agreement further explicitly states the following language: "the minimum monthly payment due will equal 1% of your outstanding principal at the end of each billing cycle plus the minimum charge, unpaid interest charge due for that billing cycle plus any late payment fees and returned payment fees."
As you know, we have reached out to you directly in an effort to discuss possible payment arrangements despite the accuracy of the current monthly minimum payment due. In the interest of reaching a mutually satisfactory resolution, please contact our Compliance Department directly at your earliest convenience.
Sincerely,
AvantCredit
Dear [redacted] We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]). We are sorry to hear that you are dissatisfied with your customer experience. At Avant, we pride ourselves in providing excellent...
service to all of our customers and take all feedback seriously. As you are aware, on August 19, 2016, Avant emailed a response to a recent inquiry you submitted regarding an August 9, 2016 charge on your account, informing you that the charge in question had been identified and a refund would be issued shortly. On August 24, 2016, a representative of the Avant Compliance Department contacted you via telephone in an effort to address your complaint. You were informed that a technical issue with one of our vendors resulted in a debit card payment, initially scheduled November 16, 2015, being initiated on August 8, 2016 and processed on August 9, 2016. During this call, you confirmed the refund detailed in the August 19, 2016 email had reached your account.Additionally, you were informed that your account was reported as 30-59 days past due effective May 31, 2016 in a recent credit reporting file as a result of your installment payment scheduled April 28, 2016 not having been satisfied in full by May 31, 2016. You were also informed that your account has since been reported as current for the June and July reporting periods.As expressed in the phone call, Avant would like to apologize for any inconvenience the August 9, 2016 debit may have caused.We trust this explanation resolves this matter. At Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you. Sincerely,Avant Compliance Department
Dear Bessie [redacted],We are in receipt of your complaint with the Revdex.com (Complaint ID # 11094567). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant we pride ourselves in providing excellent service to all of our customers...
and take all feedback seriously.As you know, on December 22, 2015, you contacted Avant telephonically and made a payment via debit card for your January installment, which was due on January 4, 2016. On December 23, 2015, you again contacted Avant via telephone and received a payoff quote for January 15, 2016 in the amount of $10,490.14. Due to an isolated system issue, this quote incorrectly assumed that your installment due on January 4, 2016 was still outstanding, and that this installment would be paid in addition to the quoted payoff amount. On January 19, 2016, Avant received a check in the amount of $10,490.14. As a result of the above-referenced issue, a remaining balance in the amount of your January installment was left on your account after this check was processed. In order to resolve this matter, Avant has waived this balance, and your account is now paid in full. On January 29, 2016, Avant contacted you telephonically and you indicated that you were satisfied with this result. As such, we consider this matter to be resolved. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Initial Business Response /* (1000, 5, 2014/09/18) */
Contact Name and Title: [redacted], Compliance
Contact Phone: XXX-XXX-XXXX [redacted]
Contact Email: [redacted]@avantcredit.com
Dear [redacted],
We are in receipt of your complaint with the Revdex.com (Case #XXXXXXXX)....
We are sorry to hear that you are dissatisfied with your AvantCredit experience. Here at AvantCredit we value all customer feedback and use it to enhance the overall customer experience.
Upon receiving this complaint, we have reached out to you multiple times directly in an effort to discuss the steps we are taking to amend your account history. Again, we apologize for any inconvenience that this matter might have caused.
We go great lengths to ensure a transparent, fair, and customer focused experience. Please contact our Compliance Department directly at your earliest convenience, and we will review your account in detail. If you decide to pay off your account in full and permanently close your line of credit, we can accommodate that request as well.
Sincerely,
AvantCredit Compliance Department
Dear [redacted]We are in receipt of your complaint with the RevDex.com (Complaint ID # [redacted]). We are sorry to hear that you are
dissatisfied with your customer experience with Avant. Here at Avant we pride
ourselves in providing excellent customer service to all of...
our customers and
take all feedback seriously.We have reviewed your account and determined that on
November 3, 2015, you contacted Avant via e-mail inquiring about where to send
a check to pay off your loan. That same day, Avant responded to your inquiry
with our mailing address.On November 12, 2015 Avant contacted you via e-mail
advising you that a payment via paper check in the amount of $4,326.00 had
posted to your account, effective November 10, 2015. Please be advised that
this payment was in excess of your outstanding balance as of November 10, 2015,
which was $4,207.20. Payments made via paper check can take up to fourteen
(14) days to confirm funds have been received. Accordingly, any applicable
refunds for overpayment in paying off the loan may take up to three (3) weeks
to send back to the customer.It should be noted that the month of November contains
two bank holidays, including Veteran’s Day and Thanksgiving. As such, a refund
in the amount of $118.80 was sent to the bank account on file, effective
December 2, 2015. Accordingly, we contacted you on December 3, 2015 to confirm
your receipt of the funds, and you indicated were satisfied and considered this
matter resolved.Here at Avant we go to great lengths to ensure a
transparent and customer focused experience. If you have any additional
questions or concerns, please contact our Compliance Department directly at
Compliance[redacted] We appreciate the opportunity to serve you.Sincerely,Avant Compliance Department
Dear [redacted] We are in receipt of your complaint with the Revdex.com (Complaint ID # [redacted]). We are sorry to hear that you are dissatisfied with your customer experience with Avant. Here at Avant, we pride ourselves in providing excellent service to all of our...
customers and take all feedback seriously. On March 15, 2016, you submitted an inquiry for credit at www.Avant.com via a marketing affiliate, Credit Sesame. Based on the information you provided, you were pre-approved for a loan from [redacted] via the Avant Platform, pending final verification. Please note, the loan request process clearly discloses that loan funding is subject to final verification of the information submitted. Later that day, you contacted Avant regarding your loan request. During this call, the specialist asked if you were able to provide additional verifiable income which you declined. The specialist also properly informed you that no further information would be required prior to a decision being reached. Upon evaluation of the verified information, your loan request was denied. Accordingly, a notice of adverse action has been sent to the e-mail address on file. If you would like a statement of specific reasons for why your loan was declined, please contact Avant at [email protected]. We trust this explanation resolves this matter. Here at Avant, we go to great lengths to ensure a transparent and customer-focused experience. If you have any additional questions or concerns, please contact our Compliance Department directly at [email protected]. We appreciate the opportunity to serve you. Sincerely,Avant Compliance Department