Consumer complaint received 2022-09-10
Company: Avant Holding Company, Inc.
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Getting the loan

Complaint:
I applied for personal loan with Avant on XX/XX/2022. I was approved for {$25000.00}. I had to provide my last 6 months of bank statements for income verifcation, and I had 14 days to do so. However, i had been using a new checking account the last 4 months, as I closed my old checking account because I was joint account holder with my husband and I had to close it and open new one if I wanted only my name on the bank account. So I could only provide 3 statements from my new account and another 3 I was supposed to get from the bank as it was going to be from a closed account and I had no access to those statements. Bank told me it will fake 3-5 business days to get those. So On XX/XX/XXXX, i contacted Avant and told them about the situation, that I currenly have 3 statements available in my new account, and I am waiting for the bank to provide me with the other 3 statments from my closed account so I can provide it to them for income verification. And Right off the bat, im being asked " So you want me to cancel this loan application so you can apply 3 months later? '' Realizing the stupidity and the lownlevel of IQ of the rep that Im speaking to and the fact that she clearly isn't understanding the situation, I cut it short and told her " No ; you know what never mind, i just wanted to let you know that it is going to take me a few more days to upload the documents. '' And we hung up. The next day, I get a call from Avant ; I missed, so I call back, and they are asking me to upload the bank statements again!. So I tell her again, " Look I the bank account that I have linked to your system is only 4 months old, and I only have 3 statements available, I am waiting for the bank to send me my 3 other statements so I send over to you to verify and It will be probably XXXX or XXXX of XXXX the latest. '' But I had until XX/XX/XXXX to submit those documents, so I was well within their timeline and guidelines. She seemed confused and put me on hold for a minute and came back with the following answer : " please check your Avant portal or your email for a decision on your application, you dont need to do anything else. '' I was shocked at the answer, since they were calling or emailing me since XX/XX/XXXX, to upload statements to complete the income verification and the loan funded. But I said OK. And we hung up. Then 20 minutes later I get an email saying " they can not approve my loan at this time because they couldnt verify the information ( assuming the income ). I called back, asked for supervisor or manager, angry and XXXX off from the fact that they asked for documents and didnt even wait for it and just declined the chance to get the loan ; while putting a hard inquiry on ny credit report. Hoever, they said supervisor id not available and they can not transfer me to a supervisor, and then they told me the supervisor is on a meeting, then told me the supervisor will call me on today. I havent received an email nor a call frrom a supervisor. This is not fair. They give me a deadline to submit documents, I am WELL within the time period, XX/XX/XXXX being the deadline, nothing on their terms and conditions says that my reauired statements must be from the same checking account, orelse you dont qualify for a loan. Just bad bad bad business practice. Damaging people 's credits with what now seems to be a wrongful hard inquiry and deny at their will. I need everybody to know this, and how illiterate the employees are. Specially if you run into someone named XXXXbut i need explanation from Avant to know what was this XXXX  all about.

Company response to consumer: Closed with explanation