One’s need for an extra cash-boost might arise at any point of time, and with multiple online lenders ready to pounce on any potential clients it is next to impossible for a commoner to figure out the best alternative.
Avant is one of the biggest online lending platforms to center around buyers with low FICO ratings. To quote the Chicago-based organization’s President Adam Hughes, Avant centers in light of the “White Collar American customer”.
With many aware American Citizens taking the debt consolidation route, it is not an easy choice to figure out where to go if one is killing all the debt by taking one single loan for debt consolidation. Avant should be a good start if you’re looking to put an end to all your debts.
Avant has a special provision, for about half of Avant’s borrowers take out loans for debt consolidation. Here are three gems in Avant’s shining crown that make it better than the rest:
1. Customer service
Avant has a phone number and email address to which you can reach out at any given time. They even have a strict protocol for measuring response times, as they’re in a constant struggle to make the next call better than the last one.
2. Refinancing option
Avant clearly states that some of its customers might be qualified to refinance their loans to get a larger loan amount and conceivably a decreased interest rate. Customers need at least 9 months of on-time payments on a loan to qualify for refinancing.
3. Reports to Major Credit Bureaus
Avant reports to all of the three major credit agencies- Equifax, Experian and TransUnion. If you’re looking to raise your credit score, Avant can help you with that; provided you make your payments on time.
Let’s delve into the specifics of qualifications and terms of the loan from Avant:
To qualify, applicants may need to provide the following documentation:
- Driver’s license
- Applicants must have an active and valid checking account
- Proof of citizenship or residence permit
- Recent pay stubs
- Proof of income
Let’s Talk Numbers!
The best part about loans through the AVANT platform’s is that the APR range starts much lower than any other debt consolidator lending entities. Avant’s APR ranges from 9.95% to 35.99%*. The administration fee is 4.75%, which is a great considering today’s market conditions.
As for the repayment schedule, one can pay off their personal loan for debt consolidation by making a single payment each month for the span of 2 to 5 years according to their convenience. Loan lengths range from 24 to 60 months.
A credit score is very necessary to pick up any personal loan (don’t know your credit score? Check it out here) and unlike other lenders having a credit score requirement of 600+, AVANT has a minimum requirement of 580.
As for the time of funding, one can get a personal loan from Avant as soon as the next business day, which is surprisingly quick for a personal loan lender.
If you’re looking for personal loans and you want a hassle-free online lender that does what it says, check out Avant’s personal loan option. If you fit in Avant’s criteria, it would be a great choice for a personal loan.
Getting a personal loan requires a huge thought- make the most of it and ponder over all the options carefully!