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Leaf8

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Why hasn't my personal loan been reported?
I got a loan through avant online, which I found out about here on ck. The loan was issued Nov 5 (it's now Dec 21st) and it still hasn't been reported..? I got the loan to help pay off a bit of credit card debt and it went towards purchasing a vehicle..But I was also looking forward to it diversifying my accounts. I don't have a very lengthy credit history and only have two credit cards and thought it would eventually boost my credit score up a bit more. Anybody know how long it takes for it to show up?

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At least every 30 days

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Avant should be reporting your standing on the loan at least every 30 days (some lenders report every 2 weeks). I work in the personal loan industry and can say I've encountered this issue with a borrower. Call Avant and ask them when the last time they reported your information was. If they reported it shortly after you received the loan, it might take the credit bureau some time to update it (but it shouldn't take more than 3 months). Best you can do is stay on top of it and contact the credit bureau if you still don't see anything by mid January. But call and confirm with Avant first. Hope this helps.

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I believe that they do report to all three credit bureaus, but you can double check to be sure. Some lenders take two or three months to report, don't worry they will back date to when the loan began. I would look forward to it appearing within the next couple of weeks. If more than two months go by you may want to contact Avant and ask them what is going on.

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