Lending Stream

[Natty]

Re: Lending Stream

I forgot to mention that the notice I have received refers to the last loan I look out in December 2014! I have not received anything for the earlier loans?

[CleverClogs (RIP)]

Re: Lending Stream

First it states that Natty has 17 days from 10 March to pay the monies, then that the monies must be paid before 27 March, thus giving only 16 days notice.

[Natty]

Re: Lending Stream

SnV,
Please see below the letter you requested from P2P. I have copied word for word. The letter was dated the 10 March 2015.
Also they are still sending me emails to my old email address. Even though the emails I sent in January were sent from a different email address.



This notice is being sent to you as required by section 87 (1) of the Consumer Credit Act 1974 because you are in default under your loam agreement
Please review the attached Financial Conduct Authority Default publication that describes you rights and responsibilities

Dear Natty,
Loan ID xxx
Funding Date 04 December 2014
Loan Amount £1’145.31
This default notice is being sent to you because either:
1. There is an unpaid balance remaining on your Pounds to Pocket account after your final scheduled payment date. Or
2. You have not paid two or more scheduled statements under your Pounds to Pocket account

Below is the list of instalment payments which are overdue:
Date Amount
30 January 2015 £179.04
27 February 2015 £179.04
Total £358.08

As a result of your returned debits on the payment dates above, we have assessed £24.00 in Late Fees. This amount is also now due. You have received separate default sums in relation to these late Fees.
As a result of your failing to meet these payments, we are hereby giving you notice that you have 17 days from 10 March 2015 to cure your default. In order to cure your default, you must either;
• Pay us the overdue amounts 9including Late Fees referenced above), OR
• Come to an agreement with us on an alternative payment plan for these sums.
IF THE ACTION REQUIRED BY THIS NOTICE IS TAKEN BEFORE THE 27 MARCH 2015, NO FURTHER ENFORECMENT ACTION WILL BE TAKEN IN RESPECT OF THE BREACH.
IF YOU DO NOT TAKE THE ACTION REQUIREDBY THIS NOTICE BEFORE 27 MARCH 2015,THEN THE FURTHER ACTION SET OUT BELOW MAY BE TAKEN AGAINST YOU.
1. We will inform Credit Report Agencies of your default status.
2. We may refer your account to a third party collections agency for enforcement
3. We may call your entire loan balance due and payable (Acceleration)
4. We may sell your account to a third party collections company

We have the right to take this action under the clause entitled DEFAULT ACCELERATION AND LEGAL FEES in the loan agreement.

IF YOU HAVE DIFFICULTY IN PAYING ANY SUM OWNING UNDER THE AGREEMENT OR TAKING ANY ACTION REQUIRED BY THIS NOTICE. YOU CAN APPLY TO THE COURT WHICH MAY MAKE AN ORDER ALLOWING YOU OR ANY SURETY MORE TIME.
IF YOU, ARE NOT SURE WHAT TO DO, YOU SHOULD GET HELP AS SOON AS POSSIBLE. FOR EXAMPLE YOU SHOULD CONTACT A SOLICTOR, YOUR LOCAL TRADING STANNDARDS DEPARTMENT OR YOUR NEAREST CITIZENS ADVICE BUREAU.
This notice should include a copy of your current Financial Conduct Authority information sheet on default. This contains important information about your rights and where to go for support and advice. If it is not included, you should contact us to get one.
At Pounds to Pocket, we value your business and ask you to contact us immediately to resolve this matter.
• If you already made the payment arrangements for the overdue instalments(s) and defaults sums thereon or the entire balance of the loan, please disregard this notice.
Sincerely,
Pounds to pocket Collections Department

[Natty]

Re: Lending Stream

Also the email that LS sent me, I have noted there is another email below between the FOS person and LS:


Dear FOS

We received your note on 03-Feb-15 for Natty and replied on the 5th Feb (email attached). We wish to inform that our automated system is stopped to process any transaction on Natty accounts. However, it may attempt to send the payment reminders as they are the legal notifications.

We hope that Natty would be able to talk this thorough and discuss the accounts as soon as her father is in a better situation, (we wish him a speedy recovery) we are willing help her clear the outstanding balance and set up some alternate payment arrangement.

Note: Though it is important for us to get the income and expense details in order to analyze Natty financial situation and offer an affordable payment arrangement, we would like to make an exception and advice her to let us know the amount she can afford to pay each month/week to clear the outstanding balance.

Hope this helps.

For any information, you may contact us at complaints@lendingstream.co.uk or call on 02035 564 7034.

[Natty]

Re: Lending Stream

Here it goes, I hpoe it is ok?



Dear Sirs,

Thank you for your email of the 12 March 2015.

My complaint with the FOS has now been passed to an adjudicator, I request that the accounts are placed on hold, and any interest and charges suspended until the adjudicators investigation has completed.

As a company you have failed to respond to other matters raised in my formal complaint dated 5 January 2015 which are legislative matters with regard to the Consumer Credit Act.

I note that you state that I never contacted your company to raise a complaint, I sent a letter of complaint to you on the 5 January 2015. This letter was sent recorded delivery and I have evidence it was received. I also sent a copy of this letter with my letter of 25 February 2015. I still have not received a response to the serious matters raised in both letters.

The payments I have offered previously have been made under extreme duress. My Father is due to to have heart surgery as soon as he is well enough, which is an extremely stressful time for me. You have continued to bombard me with texts and emails chasing payments with threats of consequences, you have even sent me texts and emails offering me further loans.

I await confirmation the accounts are on hold and that all charges and interest is suspended. I also await responses to both letters.

Yours faithfully

[SaltnVinegar]

Re: Lending Stream

Hi Natty

Could you post up the wording of your email please? Just useful to see how its phrased

Thanks
SnV

[Natty]

Re: Lending Stream

Good morning all,

SnV,
I sent an email to LS last night. Advising what you had stated, I also mentioned the reasons I made the initial offers is that I was under extreme duress, due to personal matters and the emails & texts I have received chasing payment.

Hope the above is ok.

Thanks again for your patience, I know I am being a pain and that you are trying to help and guide me.

Best regards
Natty

[Natty]

Re: Lending Stream

Hi SnV,

Ok I will email them tomorrow.

Also I have had problems copying the P2P letter that you requested last night.

I will have to copy the letter word for word and post it on this thread tomorrow.

Many thanks
Natty

[SaltnVinegar]

Re: Lending Stream

Hi Natty

You simply need to go back to them and state that your complaint with the FOS has gone to an adjudicator, and that you request that the account is placed on hold, and any interest and charges suspended until the adjudicators investigation has completed.

I'd also point out to them that they have failed to respond to other matters raised in your formal complaint dated xx/xx/xxxx, which are legislative matters with regard to the Consumer Credit Act.

Unless of course you're happy with making the payments they're suggesting, based on the January balances?

[oscar]

Re: Lending Stream

Tell them that. Ask them if they would like the reference number so they can check on the royal mail website and identify the staff member that signed for it.

Tell them if they are unable to locate it, you can send a copy via email, but the original delivery date remains valid for the resolution of your complaint.

[CleverClogs (RIP)]

Re: Lending Stream

CC they are saying that they did not receive my Inital letter of complaint. I sent that letter recorded delivery and have the proof.

Good.

If they wish to rely on untruths, that should not exactly help their case.

[Natty]

Re: Lending Stream

Dear Sirs,

Get knotted.

Natty.

CC they are saying that they did not receive my Inital letter of complaint. I sent that letter recorded delivery and have the proof.

[CleverClogs (RIP)]

Re: Lending Stream

Your response is awaited.

Dear Sirs,

Get knotted.

Natty.

[Natty]

Re: Lending Stream

SnV,

I have just received this email from LS:

Dear Natty,

This is in regards to your letter dated 25th February 2015. Please note that we received your FOS complaint on 12th January 2015, since then we have been in touch with Ms. Amy Booton on your behalf and shared the account information with her, however, it seems that you don’t have an update on your complaint.

We would like to share the account information and submit our findings for your case.

Loan Events

Looking at the history of your loan accounts, we see that you never contacted Lending Stream in relation to your loan accounts until we received the FOS complaint on your behalf in January 2015.

Complaint from FOS

In January 2015, we received the FOS complaint (from XX on your behalf questioning our affordability assessment; the complaint was duly acknowledged and we explained our Lending criteria.

The complaint was received on 12th January 2015 questioning the affordability checks at the time of loan application, after reviewing the case; we shared our findings on 20th January 2015 with Ms. XXX Also, we informed her that we are ready to set up the payment arrangement on your loan accounts. To have a better view of your current financial situation, we also sent an income and expenditure form to Ms. XXX and requested her to have that filled by you.

The outstanding balance shared at that time was

Loan ID

Outstanding Balance

XXXX

£53.60

XXXX

£80.40

XXXX

£241.20

XXXX

£80.40

XXXX

£1165.80

However, it has now increased as the interest for the month of February 2015 has been added on the accounts.

We also learned from one of the emails from Ms. XXX that you are comfortable making the payment of £50 towards the loan agreement 2198647 and £20 each on the other loans. To clarify you would be paying £130 (in total) for all the loan accounts.

Resolution

We are willing to help you clear the outstanding balance and offer to set up the payment arrangement on your loan accounts. Please do let us know if you wish to continue with the amount you informed to FOS (£50 on 2198647 and £80 on the other four loans).

As mentioned above, the outstanding balance has now increased as the February interest has been capitalized on all of your accounts, however, considering your situation we still offer an alternate payment arrangement on the outstanding balance shared with Ms. Booton in January’15.

For your reference, please find below the loan account details for which we are ready to set up the payment arrangement.

Loan ID

Current Outstanding Balance

Outstanding Balance in January

XXX

£77.20

£53.60

XXX

£131.20

£80.40

XXx

£373.60

£241.20

XXX

£131.20

£80.40

XXX

£1767.40

£1165.80

Your response is awaited.


Regards,
Lending Stream Complaints and Fraud

They are saying they have not received the letter that I sent in January!

They have copied the OMbudsman person who was initially dealing with my case.


The payment plan they are talking about is what I initally offered as felt pressured, after doing my I& E it worked out £66. They are not even acknowledging the accounts are still being investigated.

[Natty]

Re: Lending Stream

Hi Natty - what is the date stamp on the envelope the letter came in?

No date on the envelope. Just a standard 2nd class Royal Mail postage paid stamp.