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Hi All!

I wondering if anyone has had any dealings with them. I took out an installment loan with them and unfortunately couldn't keep up with payments?

I'm in Louisiana where Payday Loans are legal, but confirmed with the OFI they have to adhere to the maximum restrictions (borrowing amount, interest rate, etc.)

Do I consider an installment loan a payday loan and do I treat Avant as such?

The loan is close to charge-off and they are reporting negatively on TransUnion.




avant isn't pdl so those rules don't apply so it is an installment loan sorry to say.try and see what you can work out with them.

Sub: #1 posted on Tue, 07/08/2014 - 10:23

paulmergel paulmergel
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(Posts: 15505 | Credits: 1356.46)

Thanks Paul! What rules would an installment loan follow?

Also, I just emailed them asking if we could work out a payment plan and in return, once the loan is fully payed off, they'll agree to delete any negative info from TransUnion (thank goodness they don't report to anyone else). I know they don't have to, but I can't hurt to ask, right?

The balance is $1445 and I made payments over time, but it just became too much.

Sub: #2 posted on Wed, 07/09/2014 - 08:26

JujuNola JujuNola

(Posts: 102 | Credits: 17.36)

check with your OFI on that as with pdl's regulations differ by state for CSO.S/ installement loans.

Sub: #3 posted on Wed, 07/09/2014 - 08:55

paulmergel paulmergel
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(Posts: 15505 | Credits: 1356.46)

Well...here is what I found out through the LA OFI....the Avant loan is considered LEGAL...however, Louisiana has a maximum usury rate for personal loans which is 12%. The interest rate of the Avant loan is 101.97%. Since this hasn't gone to collections yet, I'm trying to see what's the best way of handling. Any thoughts since this is the original creditor?

Also, I wanted to put this here that surprisingly the Western Sky/Delbert loans are LEGAL in Louisiana too, BUT they obviously violate the state's usury laws.

I actually reached out to an attorney about Delbert and possible FDCPA violation, because I requested validation every time they sold or transferred the loan and only once, back in 2013 did they actually reply providing validation. In 2014 when it was transferred/sold to "Consumer Loan Trust", it gave the standard notice of requesting validation within 30 days, blah, blah, blah otherwise it's considered valid. Well, I did dispute and this time they never answered but continued sending those collection letters.

The attorney said technically it is a violation, but a judge might think we're playing games with the court because Delbert did validate the first time...but didn't the 2nd time when it was transferred/sold to Consumer Loan Trust.

But, she didn't give up....she believes we do have them on FDCPA violations for collecting on loans they're not legally entitled to because of the usury rates according to my state.

Sub: #4 posted on Thu, 07/10/2014 - 07:56

JujuNola JujuNola

(Posts: 102 | Credits: 17.36)

western sky was never legal so even though delbert is legal the loan is not legal they are handling dirty money.btw if avant is charging rates higher than your state gudelines file an AG complaint.just because a place is legal doesn't mean they follow all the rules.

Sub: #5 posted on Thu, 07/10/2014 - 08:48

paulmergel paulmergel
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(Posts: 15505 | Credits: 1356.46)

if delbert gave you a copy of anything but the western sky original contract they validated nothing as again the western sky loan was illegal,and giving you that basically validated that western sky was an illegal lender.anything else doesn't count as it won't be the original paperwork from the original lender,and also anything else must have your actual signature on it.let this attorney know this as it will help,but delbert has no legs to stand on.

Sub: #6 posted on Thu, 07/10/2014 - 08:52

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15505 | Credits: 1356.46)

Hmm...Paul, my thinking was the same regarding WS/Delbert. I was actually suprised to hear that the LA OFI said the Western Sky loan was valid when I first contacted them on my own.

Either way, we're taking it to Delbert for continuing to collect upon it. I think we stand a good chance.

As for Avant, honestly, I feel like complaining to the Louisiana AG is a waste of time.....they offered no help with the Western Sky/Delbert situation (before the atty they told me the WS loans were valid).....they offered no help when I complained about a licensed CA (Pinnacle Credit Servives) who reported to the bureaus AFTER receiving my dispute but before verifying....so, I have no hope of help from them regarding Avant, sadly.

I've been trying to find ways to attack of this on my own, because the LA government is useless.

Sub: #7 posted on Thu, 07/10/2014 - 09:16

JujuNola JujuNola

(Posts: 102 | Credits: 17.36)

that's a shame as the IL AG lisa madigan certainly fights for people.other ag's do as well.i guess vote this person out in the next election might help.

Sub: #8 posted on Thu, 07/10/2014 - 09:47

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15505 | Credits: 1356.46)

your state is the only one in the union i'm aware of that considers the western sky loans valid even after they dissolved,and disavowed any connection to the loans.again a shame.

Sub: #9 posted on Thu, 07/10/2014 - 09:48

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15505 | Credits: 1356.46)

Thank you for your input, Paul!

Despite my feelings toward the LA AG, I followed your advise and filed a complaint, if for nothing else, to begin establishing a paper trail. I don't expect anything to come of it, but I'll remain hopeful.

To answer your earlier post...Delbert provided the WS contract and payment history.

Sub: #10 posted on Thu, 07/10/2014 - 11:25

JujuNola JujuNola

(Posts: 102 | Credits: 17.36)

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