Lending Stream

[Natty]

Re: Lending Stream

I've fixed your post for you.

Thanks for making me smile.

[Natty]

Re: Lending Stream

It's about time you learned to multiquote Cloggy!

I haven't had any dealings with PDLs but I can remember when I first started with UE, I wanted everything to happen "now", sent replies straight away etc. It didn't take me long to realise that it wasn't necessary and worrying was only making me feel worse.

It's 5 years since I sent off my first CCA requests and in all that time I've only had one guy knock at the door...and he went away without a fuss when I told him to.

It's not long until your Dad's op and you need to be feeling well enough to help him and your Mum. Worrying only hurts YOU and that's what the creditors want. Don't give them the satisfaction! x

Pixie, that is what I am like, I want everything sorted now! And want to respond right away! Basically so the threats will stop.I will learn,hopefully.

[Pixie]

Re: Lending Stream

Thanks CC, I just go into panic mode, when I receive a response and want to reply right away! I will learn eventually.

Many thanks for your support.

Yes you will Natty. There are very few letters that need to be responded to asap.

[Pixie]

Re: Lending Stream

Pixie, that is what I am like, I want everything sorted now! And want to respond right away! Basically so the threats will stop.I will learn,hopefully.

Our posts crossed Natty

Responding straight away doesn't make the threats stop, it just means they can send the next threat sooner. Now do you realise why it's good to take your time?

[Natty]

Re: Lending Stream

I just want to thank everyone for all your kind words and support. I know I am hard work and you have stuck with me since January. I truly am grateful to each and everyone of you.

Snv you have devoted so much time assisting me and offering me guidance, and you have your own crap going on. Thanks a million for all you have done.

[Pixie]

Re: Lending Stream

You're no harder work than any of us were when we started Natty x

[Natty]

Re: Lending Stream

SnV,

I have today received a letter from P2P dated 12 April. It is headed "Account Severely Past Due Date"

it says amount in default: £1'495.25

It goes on to say if P2P do not receive payment or a response within 7 days of the date I receive this email? (I have received a letter not an email) my account will be passed to a third party debt recovery agency and subject to:

The sanctioning of a doorstep collections agent!

They then offer me a repayment plan starting the 30 April. It is £249.21 per month @ 6 monthly payments. The last payment being 30 September 2015.

It then finishes by saying please contact our collection department to discuss the payment plan. If accepted all collection activities will cease, as long as I keep to payments.

Well for a start the 7 days are up tomorrow and I have only received the letter in today's post.

Warmest wishes
Natty

[Natty]

Re: Lending Stream

You're no harder work than any of us were when we started Natty x

Many thanks Pixie, For sticking with me.

x

[Pixie]

Re: Lending Stream

It's a bog standard letter Natty.

1. DO NOT phone them!

2. Do you think that it's just coincidence that the 7 days are up tomorrow and you've only just received the letter? They want to panic you into phoning them. DON'T!

3. Let them pass it to a DCA (debt collection agency). When you receive something from the DCA just let us know.

4. Don't worry (and I know you are ) about the phrase "the sanctioning of a doorstep collections agent." It's highly unlikely that you'll get a visit and, if you do, tell them as politley or unpolitely as you want to go away. DCAs are not bailiffs and have no right to enter your home.

5. Ignore their "carrot" of saying that collection activities will cease if you accept the payment plan. Why would they need collections activities if you're paying? Collections activities are usually just letters anyway, sometimes with big red letters which they think will scare you.

[Natty]

Re: Lending Stream

It's a bog standard letter Natty.

1. DO NOT phone them!

2. Do you think that it's just coincidence that the 7 days are up tomorrow and you've only just received the letter? They want to panic you into phoning them. DON'T!

3. Let them pass it to a DCA (debt collection agency). When you receive something from the DCA just let us know.

4. Don't worry (and I know you are ) about the phrase "the sanctioning of a doorstep collections agent." It's highly unlikely that you'll get a visit and, if you do, tell them as politley or unpolitely as you want to go away. DCAs are not bailiffs and have no right to enter your home.

5. Ignore their "carrot" of saying that collection activities will cease if you accept the payment plan. Why would they need collections activities if you're paying? Collections activities are usually just letters anyway, sometimes with big red letters which they think will scare you.

You are right about point 4 this is the phrase that sends shudders through me. I am at home with my parents and they do not know anything about this, If someone did call I would be at work, so you can understand why I am stressing. My parents would be worried sick if they answered the door to a DCA agent.

I also realise they are using scare tactics, but nevertheless it still really worries me.

[SaltnVinegar]

Re: Lending Stream

You are right about point 4 this is the phrase that sends shudders through me. I am at home with my parents and they do not know anything about this, If someone did call I would be at work, so you can understand why I am stressing. My parents would be worried sick if they answered the door to a DCA agent.

I also realise they are using scare tactics, but nevertheless it still really worries me.

Hi Natty

The letter is deliberately worded to make you worry and get you stressed so don't allow them the satisfaction. Just consider the wording - "The 'sanctioning' of a doorstep collector"

Are they for real?! Like this is something that is only in their power?! A doorstep collector for a DCA has no more rights to be on (never mind enter) your property than the milkman.

And to put in in context - the odds of having someone turn up on your doorstep is approx 1 in 100,000, and for payday loans I've never heard of a doorstep collector turning up except when someone has borrowed from a dodgy broker at places like pawn shops.

The simple fact that they have placed in writing they will refuse to freeze interest and charges is enough evidence you need to show unreasonable behaviour. If you feel the need to respond I would send something similar to below, however my gut instinct is that this account will get sold to a DCA after they have inflated the balance considerably to make it more attractive to purchase (but we will deal with that at that point).

<Start of template letter>

Dear P2P

Thank you for your email of xx/xx/xxxx

I am disappointed to note that you have failed to address many of the items in my complaint of xx/xx/xxxx, but instead have sent me what is obviously a stock template letter.

I was also disappointed to note that you have refused to freeze interest and charges on the account, despite my informing you that I am in financial distress, caused, in no inconsiderable part, by your irresponsible lending. I should also remind you of the recent legislation brought in by the Financial Conduct Authority with regard to interest and charges on Payday Loans, not to mention that your stated position is in breach of the guiding principles of dealing with debtors as laid out in the FCA CONC guidelines, and could also be considered a breach of the Unfair Relationship Provisions of the Consumer Credit Act.

I would like to resolve this situation amicably, however any discussions are pointless with your current stated position.

Refusing to remove interest and charges can only be considered unreasonable and I would respectfully suggest that in order for us to move forward your next communication is made in consideration of the above legislative points.

Regards

Natty

[Pixie]

Re: Lending Stream

I also realise they are using scare tactics, but nevertheless it still really worries me.

Natty, please, please, please don't let it worry you, they simply aren't worth it As has been said, it is extremely unlikely that one would turn up on your doorstep. Send the letter that SnV has written if you want then put them out of your mind. When is your dad's op?

[Natty]

Re: Lending Stream

Hi Natty

The letter is deliberately worded to make you worry and get you stressed so don't allow them the satisfaction. Just consider the wording - "The 'sanctioning' of a doorstep collector"

Are they for real?! Like this is something that is only in their power?! A doorstep collector for a DCA has no more rights to be on (never mind enter) your property than the milkman.

And to put in in context - the odds of having someone turn up on your doorstep is approx 1 in 100,000, and for payday loans I've never heard of a doorstep collector turning up except when someone has borrowed from a dodgy broker at places like pawn shops.

The simple fact that they have placed in writing they will refuse to freeze interest and charges is enough evidence you need to show unreasonable behaviour. If you feel the need to respond I would send something similar to below, however my gut instinct is that this account will get sold to a DCA after they have inflated the balance considerably to make it more attractive to purchase (but we will deal with that at that point).

SnV,

Thank you for putting things into context once again.

When I read the letter I am just focusing on the "Doorsep Collector" wording. But when I read The 'sanctioning' of a doorstep collector", I understabd what you are saying to me and trying to make me understand and most importantly stop stressing.

Thank you for the template, I have sent it this morning, however I doubt once again they will read the contents and respond answering all the points.

kindest regards
Natty

[Natty]

Re: Lending Stream

SnV,

Here is the response to today's email from P2P:

Dear Natty,

Thank you for your most recent correspondence. Your e-mail has been received and noted.

Natty , the interest on your account has been frozen since April 6, 2015.

As previously stated, the necessary checks were done before any funds were loaned.

We are more than willing to make affordable arrangements to repay your current default balance of £1495.25.

Please don't hesitate to contact me with any questions or concerns.

[SaltnVinegar]

Re: Lending Stream

Hi Natty

Simple response to their email (see below). Isn't it your dads op today? Hope all goes well.

Best wishes
SnV

<Start of template letter>

Dear P2P

Thank you for your email of xx/xx/xxxx.

Unfortunately you have failed to grasp one of the main points of my complaint. I informed you as early as January of this year as to my financial situation. At the same time I also informed you of changes to my contact information, specifically my email address. You were informed of this change of contact details on no less than 3 seperate occasions.

However, you continued to issue communication to my old email address with the obvious consequence that no dialogue could take place in order to reach an amicable resolution to this account.

Consequently, it would not be unreasonable to state that the current balance of the account is unfair as you have added interest and charges to the account in the interim as a result of your administrative error of failing to update my personal records. I therefore suggest that any discussion of repayments should be on the basis of the balance as it was on January 5th 2015 before we can enter into any meaningful discussion on this account.

Regards

Natty

SnV,

Here is the response to today's email from P2P:

Dear Natty,

Thank you for your most recent correspondence. Your e-mail has been received and noted.

Natty , the interest on your account has been frozen since April 6, 2015.

As previously stated, the necessary checks were done before any funds were loaned.

We are more than willing to make affordable arrangements to repay your current default balance of £1495.25.

Please don't hesitate to contact me with any questions or concerns.