BOSTON – Online loan service Avant will pay $ 1.6 million in a settlement with the state’s attorney general over allegations that the company used improper debt collection methods against consumers.
A production waiver guarantee recently filed in the Suffolk County Supreme Court with Avant, LLC resolves allegations that the company violated AG’s debt collection rules by failing to provide consumers with proper debt confirmation notices and making illegal calls to collect large amounts of debt to consumers.
Avant is an online short term installment loan service. The AG office launched an investigation into Avant after receiving complaints from consumers.
The $ 1.6 million disbursement will go to a local consumer assistance fund to help support, protect, and advocate for the interests of consumers across the state on a variety of issues.