Avant to pay Massachusetts $1.6m in debt settlement

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BOSTON (AP) — A Chicago-based loan service provider, Avant, will pay Massachusetts $1.6 million to settle allegations that it used abusive debt collection practices against its consumers. The Boston Globe reported that the settlement was filed on Tuesday by Attorney General Maura Healey, whose office has been investigating the company’s practices since 2015. Investigators say the company violated state debt collection regulations through its practices of making excessive phone calls to borrowers and failing to notify them of their right to receive detailed documentation of their loans. Massachusetts’ debt collection regulations are the toughest in the country. The settlement is one of the largest of its kind.

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