Avant Credit

Personally I haven’t dealt with this company before. What state do you live in? Is your lender licensed in your state? If not, then you owe them nothing more than the principal balance. No interest, no fees. In this case closing down your old bank account would be the better option for you. If your lender is licensed in your state, then you are liable to pay them both the principal and interest. In this case you may try to negotiate with your licensed lenders and set up a payment arrangement with them.

I currently have a loan with this company and they are licensed in my state (Texas). While their rates on loans are high, they are significantly lower than a payday loan. I have a $2,500 loan with them that I pay $175/month over an 18 month period. I also qualified for their lowest interest rate at 30%.

With that being said, check to see if they are legal in your state to lend. I have spoken to their customer service a couple times and have had nothing but nice people to speak with. They are eager to help.

Thanks for the reply guys. I've tried looking on the Louisiana OFI site and I can't find out whether they are licensed to lend here.

On Avant's site, there's a map of all the places and they say they're licensed in LA, but I just can't find confirmation on the OFI site.


Michael, I've never had to call in, but I will do so. It's good to know they're nice and want to help. Have you had to renegotiate monthly payments, etc? It's moreso about trying to cut down my $212 monthly payment.

I have not renegotiated payments with them as I just started (sounds like you have as well with just 2 payments made). They did tell me there is no prepayment penalty and that you pay only the interest that accrues. To stay on good terms with them, I'd give them a call.