Lendingstream, con men or what?

[Big S]

Hi, A warning to all about LendingStream, On December last I approached LS about a pay-day loan. They said no,fair enough, so I went elsewhere and was successful. (I got the loan and paid it back with interest on next pay-day, fair enough.)
LendingStream then e-mailed me, said I could have the loan will I let them know.I ignored them. I didn't need the loan now.
However, the went ahead, unknown to me, and paid the loan into my bank account. By the time I found out I said, Okay I'll pay them back on pay-day, it may cost me a little but what the hell.
They didn't take all the money I owed them on pay-day, but decided themselves to make the loan repayable over five months, henceforth ramping up the profit for a bunch of greedy,thieving crooks.
I am fighting this and would like to know their managing directors postal or e-mail address. San anyone help me?

Thank you, SW

[pompeyfaith]

Re: Lendingstream, con men or what?

Well on a search found all this:

Registration Number: Z2752028

Date Registered: 27 May 2011 Registration Expires: 26 May 2013

Data Controller: LENDING STREAM LLC

Address:
2711
CENTERVILLE ROAD
SUITE 400, WILMINGTON
NEW CASTLE, DELAWARE
UNITED STATES
Representative Name:


PURNA PATNAIK

Representative Address:


CAMROSE HOUSE
2A CAMROSE AVENUE
EDGWARE
MIDDLESEX
HA8 6EG
This register entry describes, in very general terms, the personal data being processed by:

LENDING STREAM LLC
This register entry contains personal data held for 7 purpose(s)


Purna Patnaik | LinkedIn

Global Analytics

Just waiting on the OFT register which is taking a while to bring up results

[pompeyfaith]

Re: Lendingstream, con men or what?

Vice President of UK Operations

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[SaltnVinegar]

Re: Lendingstream, con men or what?

Hi, A warning to all about LendingStream, On December last I approached LS about a pay-day loan. They said no,fair enough, so I went elsewhere and was successful. (I got the loan and paid it back with interest on next pay-day, fair enough.)
LendingStream then e-mailed me, said I could have the loan will I let them know.I ignored them. I didn't need the loan now.
However, the went ahead, unknown to me, and paid the loan into my bank account. By the time I found out I said, Okay I'll pay them back on pay-day, it may cost me a little but what the hell.
They didn't take all the money I owed them on pay-day, but decided themselves to make the loan repayable over five months, henceforth ramping up the profit for a bunch of greedy,thieving crooks.
I am fighting this and would like to know their managing directors postal or e-mail address. San anyone help me?

Thank you, SW

Hi

Lending Stream are actually a US based company operating out of Deleware (like a lot of payday loan companies)..............

The person who in on the Consumer Credit License is one Krishna Gopinathan, and is apparently the COO of Lending Stream in the UK.

Mr Gopinathan is also a director of a company called 'Zebit' who (not unsurprisingly) are also a payday loan company.

Now this is where is gets murky..........

The Lending Stream and Zebit website both show them operating under the same Consumer Credit License number as Zebit is a trading name of Lending Stream LLC. Now while this is not strictly illegal its not exactly transparent is it?

Lending Stream also have/had a deed of charge over them relating to credit balances, owed to, none other than, our favorite ethical bank, Barclays. Derive from that what you will..........

But as far as getting an email address goes I haven't tracked down Mr Gopinathans yet. HOWEVER you can find him on LinkedIn if you look hard enough...........

I think the first thing you need to do is follow Lending Streams formal complaints procedure and when you have no luck with that complain to the FOS (where you will probably have less luck).

I'm afraid that the problem you have is that you decided to take the loan when it was paid into your bank. I do know that LS sends emails that are quite thorough and would have made the 6 month payment terms very clear. I also know that you could have logged on to the website and paid the loan back on the same day you received it with zero interest liable.

I'm not saying they've done anything wrong here, just pre-empting what they will come back to you with.

Best
SnV

[Big S]

Re: Lendingstream, con men or what?

Thanks to you all for your input, TA.

Big S

[Big S]

Re: Lendingstream, con men or what?

Hi all,
RE, Lendingstream. I found out about a 'Lendingstream' Fraud Department' phone number (02035647031)is this genuine or what. Please advise.

Your Big S

[SaltnVinegar]

Re: Lendingstream, con men or what?

Hi all,
RE, Lendingstream. I found out about a 'Lendingstream' Fraud Department' phone number (02035647031)is this genuine or what. Please advise.

Your Big S

If it is genuine - what would you want to contact them about anyway?

The situation in your original post is not fraudulent.

I understand your frustration, but you need to approach this in the correct way.

What is your grievance exactly? What have Lendingstream actually done wrong?

If LS declined your application, then deposited the money into your account, then tried to claim interest, then this would be your argument as you did not enter into an agreement with them.

Do you have the email/letter saying your application was declined?

Thats where you start......

[Big S]

Re: Lendingstream, con men or what?

Hi S&V,
Thanks for your advice, bur I have contacted LS (Fraud Squad) and things maybe moving along in a positive way now, hopefully. I will keep you informed of any outcome good or bad.

Yours Big S