Another Lending Stream thread.

[SaltnVinegar]

Re: Another Lending Stream thread.

I've just completed the CAB Payday Loan survey that Cecilia linked to in another thread. I answered it honestly using the same information I have supplied in this thread and it said I may have grounds for a complaint.

Something worth thinking about I guess.

Yes but I'd reckon 95% of people who have defaulted on a payday loan would have grounds for complaint on at least some level

[eugenespeed]

Re: Another Lending Stream thread.

Yes but I'd reckon 95% of people who have defaulted on a payday loan would have grounds for complaint on at least some level

Fair point

[eugenespeed]

Re: Another Lending Stream thread.

Since 8.40 this morning, I've had a text, a phone call and an automated voice mail from them.

Guess this is going to be a regular occurrence for a bit.

[SaltnVinegar]

Re: Another Lending Stream thread.

Since 8.40 this morning, I've had a text, a phone call and an automated voice mail from them.

Guess this is going to be a regular occurrence for a bit.

Make sure you document each contact they make with you:

Date/Time/What was said/message that was left.

You want to make sure that you start building up evidence of their conduct.

[eugenespeed]

Re: Another Lending Stream thread.

Make sure you document each contact they make with you:

Date/Time/What was said/message that was left.

You want to make sure that you start building up evidence of their conduct.

Good advice, thank you.

[cecilia]

Re: Another Lending Stream thread.

Since 8.40 this morning, I've had a text, a phone call and an automated voice mail from them.

Guess this is going to be a regular occurrence for a bit.

I am afraid so.

[eugenespeed]

Re: Another Lending Stream thread.

I am afraid so.

I've started a word document to list them all.

[eugenespeed]

Re: Another Lending Stream thread.

I've had not much to update for the past couple of weeks. I've had a couple of "Notice of Default Sums emails, but then nothing after that. Until today.

I've just noticed this as it went into my spam folder

We are writing to inform you that your loan account with us has been terminated as of 20-Oct-2013. We have taken this decision since you failed to remedy the default within the 14-day grace period that expired on 20-Oct-2013.

Does this mean that they've to went to a collection agency, or (wishful thinking), they've just gave up?!

Edit: I've just read the letter they attached to the email. They have the wrong address anyway on there.

They've detailed out how much I owe them and ask me to pay it ASAP (heh heh, as if that's going to happen) and threaten that they may take me to court to get a judgement against me.

I've read from other threads in here thought, they probably won't do that, even if they did, they amount I owe out to other places as well, plus my income, they've got no chance.

Just to relate to an earlier post in this thread, my application for bankruptcy funding is in. It may take 12 weeks, so I'll know if I'm able to go ahead with the bankruptcy claim early in the new year.

[eugenespeed]

Re: Another Lending Stream thread.

Another email from them saying they've attempted to collect £442 from me.

Oh, how much I laughed. I wish I had that much money.

So, despite saying they'd cancelled all payment requests and the previous email saying my account was closed and threatening me with court action, they are still attempting to collect money. The lying bar stewards!

[SaltnVinegar]

Re: Another Lending Stream thread.

Another email from them saying they've attempted to collect £442 from me.

Oh, how much I laughed. I wish I had that much money.

So, despite saying they'd cancelled all payment requests and the previous email saying my account was closed and threatening me with court action, they are still attempting to collect money. The lying bar stewards!

Exactly which is why I ALWAYS advise that you change bank accounts to a new bank and NEVER divulge those details and have your income paid into this new account.

The number of people I have seen who have had their accounts emptied despite being promised they wouldn't is unreal.

SnV

[eugenespeed]

Re: Another Lending Stream thread.

Exactly which is why I ALWAYS advise that you change bank accounts to a new bank and NEVER divulge those details and have your income paid into this new account.

The number of people I have seen who have had their accounts emptied despite being promised they wouldn't is unreal.

SnV

And great advise it was by the looks of it. Thank you.

There's never anything in that account these days, I've got the second one that I use now.

I also get constant phone calls and texts from them, but I'm just ignoring them.

I am grateful to the help on this board. I've went from panicking back in August to telling them to naff off in November!

[SaltnVinegar]

Re: Another Lending Stream thread.

Hi Eugenespeed

I'd consider giving them something else to chew on for a little while. Think about sending them this:


<start of letter/email>


FORMAL COMPLAINT - DO NOT IGNORE

Account number - xxxxxxxxxx

Dear Lending Stream

I am writing to you to make a formal complaint regards your conduct of harassment, and continued abuse of the continuous payment authority with regard to the above account.


Conduct of harassment

On xx/xx/xxxx you were sent an email informing you that I was receiving professional debt advice and I requested that you cease contact with me as I was unable to repay the balance of the aforementioned account. Despite this you have continued to harass me through repeated attempts to contact me by telephone and text.

Please be advised that while I am receiving professional advice (which is still ongoing) I am unable to discuss anything further with you in relation to this account. I am unable to meet your demands for payment, and your persistent phone calls and texts will not achieve anything as I cannot make my position any clearer to you.

If you are in any doubt as to the legal position on this then I should draw your attention to the Court of Appeal ruling in Roberts v Bank of Scotland Plc (Rev 1) [2013] EWCA Civ 882 and in particular paragraph 37 & 38 of the Judgment. The Court made it clear that the existence of a debt does not allow a creditor to persist in harassing the debtor.

I consequently request that all further phone calls and texts desist, and that any further communication be placed in writing only.


Abuse of Continuous Payment Authority
In my email of xx/xx/xxxx I requested that you cancel the continuous payment authority in relation to the above account. You confirmed that this had been cancelled in your email of xx/xx/xxxx a copy of which is attached for your attention.

Despite this, you have subsequently continued to attempt to recover money via the use of continuous payment authority, and then applied charges when you have failed to do so, as confirmed in your emails dated xx/xx/xxxx, xx/xx/xxxx, xx/xx/xxxx (add as many as necessary).

You should be aware that the position of the Office of Fair Trading is clear:
"Continuing to seek to extract any or all monies from a debtors account where a debtor has failed to make a full or partial repayment, by repeated attempts to exercise a continuous repayment authority would, in the OFT's view, constitute an irresponsible lending practice for the purposes of section 25 (2B) of the Act (Consumer Credit Act 1974) since such a practice facilitates 'failing to treat borrowers in default or arrears difficulties with forbearance"

Consequently it is clear that your conduct is a clear abuse of the Continuous Payment Authority, and I demand that you desist any further attempts to take payment by this method. My expectation is that any charges added to the aforementioned account as a result of failure to collect a payment by this method are also removed. Please be advised that until such action is taken the account and balance will remain in dispute.

I am disappointed that I feel it necessary to make this complaint, however your conduct in this matter is not one expected of an ethical business, and places you in direct breach of OFT guidelines on debt collection, but also your obligations under section 140A of the Consumer Credit Act 1974 with regards to the unfair relationship provisions, not to mention other requirements the Act which, to date, you have failed to comply.

I expect your full co-operation in compliance with the requests made in this letter/email (amend as appropriate). Should you continue the conduct that is the subject of my complaint then without further notice to you I will forward all correspondence and evidence of your conduct to the OFT, FSA and other regulatory bodies.

Regards

Eugenespeed

<end of template letter>

If you are in any doubt as to the legal position on this then I should draw your attention to the Court of Appeal ruling in Roberts v Bank of Scotland Plc (Rev 1) [2013] EWCA Civ 882 and in particular paragraph 37 & 38 of the Judgment. The Court made it clear that the existence of a debt does not allow a creditor to persist in harassing the debtor. - Credit to Paul for this paragraph.

[eugenespeed]

Re: Another Lending Stream thread.

Hey. That is a good one. I think I will send them that.

I'll save a copy to my computer so I can amend it as necessary.

Thanks for that.

[eugenespeed]

Re: Another Lending Stream thread.

Had a phone call from them earlier, so thought sod it and sent that email.

[eugenespeed]

Re: Another Lending Stream thread.

Hey SnV, you genius!

Just recieved this

We write with reference to your complaint received.

We are currently looking through your records and gathering all the required information to be able to resolve this as quickly and fairly as possible.

We would like to take this opportunity to sincerely apologize to you for any inconvenience or distress that we might have caused you. We will be in touch with you via email within a week regarding your complaint.

If you have any questions or concerns, please reach out to us at 0203 564 7028 or email us atinfo@lendingstream.co.uk.

Regards,

Complaints Department,
Lending Stream
Email: info@lendingstream.co.uk Website: www.lendingstream.co.uk