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Avant Personal Loan

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Selena1978
New Contributor

Avant Personal Loan

Ok. So I took out a $3900 loan from them. The interest is 31%. I did this because the owner of the property I was renting decided to sell and I was not prepared. I felt my back was against the wall and needed $ for moving expenses. I'm hoping to not use all the loan and to combine the remainder with the security deposit I get back from this rental. I've seen how they don't make it so easy for you to pay off early. Anyone dealt with them and paid them off early without paying all that interest?
Starting Score-FICO 529 5/3/14(Equifax), Transunion FICO 540 6/22/14

Current FICO Scores(10/2016):
Equifax- 664
TransUnion- 645
Experian- 659
Ch. 7 Discharge 5/27/14
Goal: 720 FICO,

First Time Home Buyer in 2yrs
Message 1 of 4
3 REPLIES 3
RobertEG
Legendary Contributor

Re: Avant Personal Loan

What is the prepayment clause in your loan contract?

Message 2 of 4
Selena1978
New Contributor

Re: Avant Personal Loan

There is no prepayment penalty. "Avant does not charge origination fees on unsecured loans and there is no prepayment penalty. " "Loans through Avant.com are fully amortizing, which means that when customers make the payments outlined in their original loan terms, their balance will be $0 after their final payment."



Starting Score-FICO 529 5/3/14(Equifax), Transunion FICO 540 6/22/14

Current FICO Scores(10/2016):
Equifax- 664
TransUnion- 645
Experian- 659
Ch. 7 Discharge 5/27/14
Goal: 720 FICO,

First Time Home Buyer in 2yrs
Message 3 of 4
Selena1978
New Contributor

Re: Avant Personal Loan

But then I saw a review that said, "This is the reason so many people are in debt....35% APR??? l only took the loan in Jan 'cause I need tires desperately & I knew I was getting my taxes Feb. My first payment was $82 on a $1400 loan. By time the next payment was due, the principal went down to $1398. What a joke!!! I can't even get a 1% return on a savings account & banks get to charge whatever they want." I'm just wondering how to beat this system. I see people saying extra payments go toward interest first.
Starting Score-FICO 529 5/3/14(Equifax), Transunion FICO 540 6/22/14

Current FICO Scores(10/2016):
Equifax- 664
TransUnion- 645
Experian- 659
Ch. 7 Discharge 5/27/14
Goal: 720 FICO,

First Time Home Buyer in 2yrs
Message 4 of 4
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