Avant Credit

Avant Credit offer long-term loans ranging from £500 to £20,000 that are repaid in monthly instalments over 12 to 60 months. Originally from Delaware and with premises in Chicago and London, Avant Credit have processed over 200,000 applications to date.

The APR will range from 9.95% to 79.99% and will depend on how much you have borrowed and how long you want the loan for. How much you can borrow depends on your credit score and affordability. When you apply online, Avant Credit will run a series of checks to see if you are eligible for a loan and if successful, you can receive your funds on the same day.

What Are The Advantages Of Avant Credit?

Avant Credit is a direct lender, which means that the entire application, funding and collections are processed with them directly, and there are no other brokers or intermediaries involved or upfront fees. All applications are completely online through their secure website and customer support and funding is available 7 days a week.

In addition, a loan from Avant Credit is completely unsecured which means that you do not have to put down anything as collateral prior to the loan such as your house or car. If you are unable to repay your loan on time, it is good to know that your assets do not risk repossession.

Another positive is that applying for a loan will not affect your credit score. If you are able to repay your loan on time, the information will be sent back to a credit reference agency and this may improve your credit score.

A long-term loan like the ones offered by Avant Credit allow you spread repayments over time, making it more flexible than a standard payday loan. You don’t have the pressure to repay in full on your next pay date so it’s a lot easier to pay smaller amounts each month. If you have disposable income or wish to clear your account early, you can repay early at no extra cost. In fact, it will probably be cheaper to do so.

How Does Repayment Work For Avant Credit?

Repayment is collected automatically each month by the lender using continuous payment authority. This means that Avant Credit will have permission to collect every month from your account on your repayment date so you don’t have to worry about how to pay them back. They will only take the collection amount outstanding and will give you notice on the days leading up to each repayment. In total, three attempts on your debit account will be made on each repayment date.

What is The Criteria For Avant Credit?

To be eligible for a loan with Avant Credit, you must be over the age of 18 and be a resident of the UK. You must have a debit account in your name because this is where the loan will be transferred to and the repayments will be collected from. You do not require a guarantor for this kind of loan or need to be a homeowner. Having a good credit history will increase your chances of being approved.

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