Lending Stream

[nanna58]

Re: Lending Stream

Enjoy your weekend Natty try to relax ,as SnV nothing can happen till Monday. Xxxxx

[Natty]

Re: Lending Stream

SnV,

Just wanted to mention next week I will have missed two payments on my LS & P2P loans. I really would like to reach an amicable resolution with both parties, if that is at all possible.

Best wishes

Natty

[SaltnVinegar]

Re: Lending Stream

Just wanted to mention next week I will have missed two payments on my LS & P2P loans

Yes and what has happened? Simple answer - nothing! The earth has not ended, dinosaurs have not resurrected and eaten the human population (though dinosaurs still operate in the finance industry), and you're facing up to these companies and holding your ground!



Think of it is not missing 2 payments to these vultures, but as claiming back 2 payments to yourself.

I really would like to reach an amicable resolution with both parties, if that is at all possible.

Its the "if that is at all possible" bit that may cause you problems, not to mention 'amicable'


If you've come up with a monthly payment you can afford from going to the NEDCAB tool, then you could email the FOS back with something along the lines of:

Dear FOS Person

Thank you for your email dated xx/xx/xxxx

I am able to offer Lending Stream the amount of £xx.xx/month with regard to paying the five accounts I have for products with them. This is the maximum I can afford, and is a figure based on the Common Financial Statement provided by NEDCAB.

Please note that I am only prepared to make this monthly payment if Lending Stream are prepared to freeze interest and charges until the balance of the accounts has been paid. If not then I see little sense in making payments as the interest & charges will accrue at a rate faster than I am repaying the balance.

I would require their assurance of this fact IN WRITING, and at such point I would be happy to commence payments.

Regards

Natty


Personally - I think you should forget the FOS and continue to challenge LS on the issue of irresponsible lending. They have yet to even respond to your complaint, and as they are regulated by the FCA then they should have already done this, so you also have them by the short and curlies on this fact too!

But ultimately its your choice

[cymruambyth]

Re: Lending Stream

Also, if you going to repay, have you allowed for repayments to P2P?

[Natty]

Re: Lending Stream

Hi SnV,

Thank you for making me laugh! You are absolutely right! I am still alive & breathing and the world is still standing. Well so far today it is.

I think due to the worries with my Dad and being at home I do not want my parents bombarded with calls from debt collectors and visits to their home. I have never given my landline number, so I really do not know why I am stressng over this issue, they only have my mobile number.

If I was to challenge the irresponsible lending issue how would I go about this? ( you are right in what you say about LS)

What if I ask for the case to be reviewed by an adjudicator, however I now realise the FOS are pretty useless. Maybe I could possible let it go through the FOS system to give me time. What are your thoughts?

I am also concerned about P2P . The inital email I sent them in January was sent from my main email account, however when I took out the loan I used my other email account. I now know they are responding to the old email account. Over the past week I have resent my inital email from from my main account a few times and they are still not responding to that mail box. How should I proceed with them?

If I did not have the worry of my Dad & Mum I am sure I could handle these issues so much better than I am doing. I am so glad I came across this forum and have a support system, as nobody knows accept my friends on this forum about my issues with P2P & LS.

Many thanks again for all your guidance, it really is truly appreciated.

Natty

[Natty]

Re: Lending Stream

Cymru,

I calculated £66 each to both companies.

[nanna58]

Re: Lending Stream

Sure you are OK with that Natty don't want you leaving yourself short. xxxx

[Natty]

Re: Lending Stream

Nanna,

Yes I am fine with that! Just so torn!

I fully understand were SnV is coming from, LS have been totally irresponsible!

I am waiting for SnV to give me his expert advice, I really do not know what I would have done without his help and the support of people on this site like you Nanna!

You have got me through January & February.


Xx

[Natty]

Re: Lending Stream

SnV,

I know it is the weekend and I hate to bother you, Just awaiting a response to my posts from you. I need to get back to the FOS tomorrow and really do not know what to do. Also P2P is also on my mind.

Best regards
Natty

[nanna58]

Re: Lending Stream

Hold on Natty I'll try to find someone for you .

[Natty]

Re: Lending Stream

Oh Nanna,

Please do not disturb anyone's weekend.

x

[cymruambyth]

Re: Lending Stream

In post 228 SnV made a suggestion for your reply to FOS.

[oscar]

Re: Lending Stream

Personally, I would agree with SnV in post 228.

Forget FOS - they are not your friend, they don't usually help the individual - I would also challenge them on irresponsible lending.

Also, as stated, they seem to have ignored your complaint.

[SaltnVinegar]

Re: Lending Stream

I think due to the worries with my Dad and being at home I do not want my parents bombarded with calls from debt collectors and visits to their home. I have never given my landline number, so I really do not know why I am stressng over this issue, they only have my mobile number.

Neither are they going to bother you at home - the chances of this happening are 0.0001%, and even then they would be a debt collector NOT court appointed bailiffs so you'd tell them to take a hike.

If I was to challenge the irresponsible lending issue how would I go about this?

You're already started this with your letter of complaint (to which they've not responded). I would consider pushing this, and stating that if you do not receive a response within the timeframe specified by the FCA that you will consider the accounts closed.

What if I ask for the case to be reviewed by an adjudicator, however I now realise the FOS are pretty useless. Maybe I could possible let it go through the FOS system to give me time.

As you've discovered the FOS are toothless. If this goes to an adjudicator, they will likely just tow the same line. Almost everyone who goes to the FOS ends up in a long protracted battle to get a result.

If the FOS adjudicator finds in favour of LS, then they will just continually use this against you. You want to challenge LS on their legal failings which is something the FOS will not assist with.

It'll do nothing to give you more time, allowing LS the rope to hang themselves will do that!

I am also concerned about P2P . The inital email I sent them in January was sent from my main email account, however when I took out the loan I used my other email account. I now know they are responding to the old email account. Over the past week I have resent my inital email from from my main account a few times and they are still not responding to that mail box. How should I proceed with them?

As I've said - stop worrying about this shower for now. If they are stupid enough to ignore your other emails, and have sent nothing in writing, don't worry about it. The fact they are sending emails to your old address shows they are likely to be all automated and sent with no human thought whatsoever - so allow them the same consideration - none!

If I did not have the worry of my Dad & Mum I am sure I could handle these issues so much better than I am doing.

So lets keep these things in perspective - these companies are not worthy of your stress and attention. They are bottom of the food chain compared to everything else so always remember that.

[SaltnVinegar]

Re: Lending Stream

SnV,

I know it is the weekend and I hate to bother you, Just awaiting a response to my posts from you. I need to get back to the FOS tomorrow and really do not know what to do. Also P2P is also on my mind.

Best regards
Natty

Have a look at my earlier post - you can email the FOS with that offer, but on the basis that LS freeze all interest and charges.

As I mentioned, personally I think you should challenge LS on irresponsible lending, and pay them nothing, however I appreciate you're finding things difficult with whats going on in your life right now not up for that fight.

That said - you've got the support network here to help you though that - but ultimately we can only offer guidance and help based on our own experiences - we can't tell you what to do, only you can make the choice thats right for you

We're all here to help you, whatever your choice.

Only thing I'd ask is to try not to stress so much