Consumer complaint received 2017-05-12
Company: Avant Credit Corporation
State: IN
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Problem with the payoff process at the end of the loan

Complaint:
I borrowed {$7000.00} fro m Avant  in   XX/XX/XXXX  f or the purpose of paying off my car and used the remaining money to fix some things in my home that I had bought in   XX/XX/XXXX .  My  credit score at t hat time was over  XXXX .   A inquiry had already been signed for a loan with an interest rate of close to 36 % interest, with a monthly payment of  XXXX , which was manageable until problems started arriving by needing to replace my hot water heater, well pump and pressure tank, water softener, and car repairs. These new debts were not an option to replace, My unemployed daughter and her  XXXX  children were staying with me at that time.     My  Credit score  was in the high  XXXX  's if not in the lower  XXXX  's because I had just financed my house on   XX/XX/XXXX ,  with a  credit score  of  XXXX .     1. Charging too High of interest rate for the credit score that was presented.
2. Hard to contact representative, most transactions are by internet only when applying for help.
3.   They Did not give much information on their website about consumers accounts.   4. They would not work with me when speaking to a company representative on the phone, It was only when I contacted them by mail did they tell me they would re-figure my loan giving me a lower payment, but did not lower the interest rate on my loan that put more interest on the loan I already had.   5. My loan payment of {$260.00}, was taken down to {$210.00}, and my loan schedule recalculated is what I was told, so I do not understand why this delay in being able to pay this loan off early.     I contacted Avant by phone to pay off loan on   XX/XX/XXXX  I wa s given a verbal payoff amount on the phone of the amount of  XXXX  on    XX/XX/XXXX , and  XX/XX/XXXX .
The loan pay off amount on  XX/XX/XXXX  on my account by their website was the    amount of  XXXX .   I could not pay this amount on their website, the website required me to call their representative to pay off my loan.   I was then given a verbal amount of  XXXX  on   XX/XX/XXXX  a nd good unti l  XX/XX/XXXX .          The funds to pay off the loan was not in the account they had been withdrawing my monthly payment.   I was told by their representative I would need to send them a blank check so they could take the pay off out of the other account.   In order to make things less difficult and timely, In the morning of   XX/XX/XXXX  , I moved funds into the account they had on file.   In the afternoon of Friday   XX/XX/XXXX  , I made a return call to Avant to ask them to withdraw the amount of  XXXX  out of the account they have on file to pay off the loan.   I was told I could not pay my loan off today, because they had lowered the payment of my loan, and the pay off amount of  XXXX  I was given was not the correct amount to pay my loan off.   She needed to send my account to another office to verify the amount of my final payment.   I asked if it would be more or less than what has been given to me verbally, or amount shown on line.   When were they going to let me know, with it being a Friday afternoon.   The representative told me she did n't know, but possibly within  24 hours.    The money was in the bank and waiting until I was contacted.   I was not contacted by Avant on Monda  y  XX/XX/XXXX , Tues  XX/XX/XXXX , or Wed  XX/XX/XXXX .
On  XX/XX/XXXX , I tried making the payment on the website of the payoff amount on   my account of  XXXX .   The website would not let me make the payment, and that I needed to call a representative.   I called the representative and was told I owed more than the  XXXX , there was more interest due because I did n't pay the loan off b y  XX/XX/XXXX .    I told the representative I was not going to pay anything over the amount I was given on   XX/XX/XXXX ,  and I had an email with the information that I had until   XX/XX/XXXX   to pay the amount of  XXXX , and I would make a formal complaint if they tried charging me more.   The representative put me on hold to talk to someone, and came back to take the payment of  XXXX .   Payment was deducted from my bank account on   XX/XX/XXXX .    I did not receive any receipts for pay off as of yet from  Avant.    On   XX/XX/XXXX  , I checked my Credit report from  XXXX , my account with Avant was open, and had not yet been reported as paid in full.   I requested to have  XXXX  to investigate and update my account as paid in full.     On   XX/XX/XXXX ,  When I checked the alert for my dispute,   Avant did not report my account as paid in full, but that I still owe {$32.00} on my account.
I have requested another investigation by   XXXX   to ask Avant to correct the error. I am sending documentation to support my claim that Avant w  as paid the amount they requested, and by the expiration date that was given to me by email.   They keep adding  XXXX  every month. I have sent my documents to the credit bureau that is proof I paid the correct amount, by the expiration date.   You can contact me at  XXXX  for any further questions you may have.

Company response to consumer: Closed with explanation