Lending Stream

[SaltnVinegar]

Re: Lending Stream

I am just a little confused and you guessed extremely stressed

Thats fine and completely understandable - try not to worry, you've just fallen into a trap that thousands of others have (myself included!), and its sometimes difficult to see a way out. You'll get to that way out then wonder why you stressed so much

I understand what we are doing with LS as they have been totally irresponsible and I completely understand which angle you are coming from with the LS complaint. However on the P2P I just want to reduce the payment, should I not advise them of the position I am in?

Don't you think that P2P have been too?

They should have evaluated your circumstances, and a proper affordability assessment would have revealed you could not afford the product they were selling you. and they have encouraged you to roll over your loan too.

My experience of Casheuronet is that they won't agree to anything until you have missed a payment, so wait for Friday to come and go, then the next email can go out. Its the next one we'll try to get a reduced monthly settlement.

Best
SnV

[Natty]

Re: Lending Stream

Thanks SnV, truly sorry you are trying to help me, really sorry for beng a pain.

I am stressing about P2P contacting me at work, however I really do not know why I am getting in such a state, as they do not have my work contact number, but they know the name of my employer. They do not have my landline number only my mobile number, but my mind is racing away, thinking what will happen. Got myself in a right state, I know I need to chill.

[kilasuit]

Re: Lending Stream

Thanks SnV, truly sorry you are trying to help me, really sorry for beng a pain.

I am stressing about P2P contacting me at work, however I really do not know why I am getting in such a state, as they do not have my work contact number, but they know the name of my employer. They do not have my landline number only my mobile number, but my mind is racing away, thinking what will happen. Got myself in a right state, I know I need to chill.

depending on the phone you have you can block calls from certain numbers (I must have 100+ numbers blocked by now )

However if they do call you even if you are at work there is no implication on you to answer that call especially if you are at work.

Also if you already requested everything in writing then ideally they wouldn't call.

Also the only pain in all of this is the finance industry and in your case LS & P2P - we all have lots happen and money can make the best of us panic and stress over the pennies.

So far I think your doing great - just remember to breathe eat and sleep - everything else can flow around that

[SaltnVinegar]

Re: Lending Stream

I am stressing about P2P contacting me at work, however I really do not know why I am getting in such a state, as they do not have my work contact number, but they know the name of my employer. They do not have my landline number only my mobile number, but my mind is racing away, thinking what will happen. Got myself in a right state, I know I need to chill.

Hi Natty

They may try to call you - however as I mentioned they are a US based company, (the offices they have registered in the UK is just a forwarding address for papers to be served as required when registering a business), so it costs them to do so.

They tend to favour sending automated threatening emails before finally selling off their accounts to a debt collection agency.

If they call you simply refuse to answer security questions, state you will not discuss the matter on the phone, and hang up. Remember YOU are in control!

I know it's slightly scary if you've not done this before, but once you have a couple of times you will actually start to enjoy it as you know its far more frustrating for them that it is for you!

You may not appreciate this yet, but if you keep a record of the phone calls, and can prove a record of harassment, its actually something you can use as leverage over them.

Best
SnV

[nanna58]

Re: Lending Stream

Natty you are certainly NOT a pain.. so never think that..we all stress in fact I still do ( I am the worrywart here that's my job) keep up the fight xxxxxxx

[Natty]

Re: Lending Stream

Just received this email from the FOS:

I’ve spoken to Lending Stream today and they’ve said they will be sending me over the information about your loan history. Once I get this I’ll be able to look into your concerns about whether the loans should have been sold to you.

I haven’t heard back from you yet since sending you the income and expenditure form, Lending Stream will need this back before they agree to a payment arrangement so please return this as soon as possible.

I have not received the form as yet , so just requested them to send me a copy. I have never filled one of these in before.

[SaltnVinegar]

Re: Lending Stream

I’ve spoken to Lending Stream today and they’ve said they will be sending me over the information about your loan history. Once I get this I’ll be able to look into your concerns about whether the loans should have been sold to you.

Ok well lets see what information LS send the FOS. Depending on what they send you may want to challenge this.

I haven’t heard back from you yet since sending you the income and expenditure form, Lending Stream will need this back before they agree to a payment arrangement so please return this as soon as possible. I have not received the form as yet , so just requested them to send me a copy. I have never filled one of these in before.

NP - you're not going to fill this out anyway right now. Why would you agree to a payment plan on loans that have been irresponsibly sold.

What I would do now is forward the letter you sent to LS to the FOS (just add as an email attachment) informing them that these are the reasons for your complaint so that the FOS also have that on record. Then they can match up what you claim was missing with the info the LS send them.

[Natty]

Re: Lending Stream

"NP - you're not going to fill this out anyway right now. Why would you agree to a payment plan on loans that have been irresponsibly sold.

What I would do now is forward the letter you sent to LS to the FOS (just add as an email attachment) informing them that these are the reasons for your complaint so that the FOS also have that on record. Then they can match up what you claim was missing with the info the LS send them"

SnV I totally agree! What the ruddy hell am I thinking! What would I agree a payment plan

[Natty]

Re: Lending Stream

Still no word from P2P.

[SaltnVinegar]

Re: Lending Stream

Still no word from P2P.

Doesn't matter - you've informed them, and the bank, so payment shouldn't be taken.

[Natty]

Re: Lending Stream

SnV I emailed the FOS yesterday and advised I will not fill the I&E form in, as I should not be offering a payment plan for loans that have been sold irresponsibly.

[SaltnVinegar]

Re: Lending Stream

SnV I emailed the FOS yesterday and advised I will not fill the I&E form in, as I should not be offering a payment plan for loans that have been sold irresponsibly.

Hi Natty

Argh OK that wasn't what I meant, but can see why you we got crossed wires. I suggested you email the FOS the letter you sent to LS, as the basis for your complaint. Have you done this?

It doesn't matter too much, as in some ways it helps a little as you're drawing a line in the sand, and we can reinforce your position with a good justification.

You do though need to be careful with your wording if you want to get the FOS onside, if you take a confrontational approach then they're more likely to be sympathetic to LS.

Please feel free to post a draught of your emails on the thread before you send them as we can make suggestions on how to make the content more approachable (if needed!).

If you haven't already forwarded that letter that you sent to LS to the FOS then I would suggest an email similar to the one below asap. You want the FOS to understand your point of view, and if you can be helpful by demonstrating why you believe you have been mistreated, then this will be more constructive than by just stating you think you have and expecting them to do all the legwork.


<START>

Dear xxxxxxxxxxx

Thank you for your ongoing assistance with my complaint regards Lendingstream.

Further to the email I sent you yesterday please find attached a letter sent to Lendingstream on xx/xx/xxxx.

The letter outlines the reasons why I believe I have been financially prejudiced and have been sold products that were totally unsuitable for my needs, and consequently why I believe that these products have been sold irresponsibly contrary to the guidelines directed in the Lending Code, those issued by the Financial Conduct Authority, not to mention the legislation within the Consumer Credit Act 1974.

The fact that Lending Stream sold me FIVE short term loans in a very short space of time, and continue even now to email me encouraging to take on further products, should be evidence enough of irresponsible, and even reckless lending behaviour.

At the time the loans were sold I was in a vunerable position and believe that this situation was also taken advantage of. I am sure that you can therefore understand my reluctance to engage in any payment negotiations with Lendingstream until the matters I have outlined in the attached letter have been addressed correctly.

Thank you again for your assistance, and I will await the outcome of Lendingstreams investigation, and your further comments, with regards to the detailed matters I have raised.

Regards

Natty

<END>

[Natty]

Re: Lending Stream

Hi SnV,

Oh dear I do hope I have not ruined all your hard work! Really sorry.

As you know my Dad is awaiting heart surgery, but it is delayed as he has an infection. I live at home with my parents who are absolutely wonderful, they do not know what I am going through financially, and I do not want them to know.

I was at the hospital the other day when I got a Voice Message from the FOS proceeded by an email. I only replied last night.

However after I read your post today I emailed the FOS again with your letter. (Btw I did send them a copy of the letter I sent to LS previously), but I began the email adding that I have re-read my email I sent them the previous night and I apologise if it comes across confrontational. I advised this was not my intention, and it really was not.

I have not had a response, however the FOS person is aware of what I am going through at home with my Dad, and has offered kind words of support and advised they will let LS know.

warmest wishes & thanks a milion

Natty

[pompeyfaith]

Re: Lending Stream

Hoping all goes well for you tomorrow Natty, but just remember this forum will still be here should you need any comforting words.

[SaltnVinegar]

Re: Lending Stream

Hi SnV,

Oh dear I do hope I have not ruined all your hard work! Really sorry.

As you know my Dad is awaiting heart surgery, but it is delayed as he has an infection. I live at home with my parents who are absolutely wonderful, they do not know what I am going through financially, and I do not want them to know.

I was at the hospital the other day when I got a Voice Message from the FOS proceeded by an email. I only replied last night.

However after I read your post today I emailed the FOS again with your letter. (Btw I did send them a copy of the letter I sent to LS previously), but I began the email adding that I have re-read my email I sent them the previous night and I apologise if it comes across confrontational. I advised this was not my intention, and it really was not.

I have not had a response, however the FOS person is aware of what I am going through at home with my Dad, and has offered kind words of support and advised they will let LS know.

warmest wishes & thanks a milion

Natty

Don't panic you've not ruined anything!

I'd like the FOS to get on your side with this one - it would be a rare thing, but if anyone would have a chance then your situation should warrant it. As I said however, the FOS will tend not to comment on legal technicalities but lets not pre-empt what may happen.

Hope everything goes ok with your dad, your family is way more important than whats going on with LS so always remember that. LS are further down than the bottom of the pile.

Remember - the world is not going to stop turning tomorrow! Only thing to check is to make sure that payments have not been taken. If they are we will give your bank a

If in the unlikely event that either LS or P2P do call you tomorrow, politely inform them that you will not speak on the phone and hang up - treat them like any other unsolicited phone call.

I'm going to be out tomorrow for work, but will pop in when I can and also over the weekend.