Lending Stream

[Natty]

Re: Lending Stream

Natty I was just wondering how is dad these days ,?

Nanna,

Thank you for your concern. He is not too good he has lost a lot of weight, he is 6ft 3 and is under 9 stone. He needs to build him self up before his operation, which is the end of the month. He does have good days but he is a worrier ( yes it runs in the family).

[Natty]

Re: Lending Stream

You had left an ID number on the above which I have removed.
They have to notify you of defaults, but I don't think it has all the required information to make it a legal default. They say they have stopped interest and charges, so I think you can just ignore it.

Cymru,

Thank you for that, I do double check normally. Much appreciated.

[Natty]

Re: Lending Stream

Now you can see why we try to get people to realize that stressing about this stuff is counter productive. I know its real difficult as you want a resolution today so you can draw a line under it and get on with the more important things in your life, but the wheels in these companies turn sloooooooowly. As I mentioned before, its likely that this is the first time your account has even been looked at by a human being and I would bet the farm that almost everything you've received up to this point has been automated.

So with that in mind, be aware that anything you send them you may not get a 'proper' response for a while.

But also be aware that this works for you!

Give me a couple of days and I'll put something together for you with an irresponsible lending angle, and also their poor admin.

Best
SnV

SnV,

I joined this site in earlier January and as you know I was at breaking point, You and the other wonderful people on this forum advised me not too stress over the missed payments etc. It is now the 2 April and I am still here nothing drastic has happened.

Thanks for the response and then comments which I have noted, I really would appreciate you putting something togeather whenever you get a chance.

warmest wishes

Natty

[Natty]

Re: Lending Stream

SnV,

I received this response yesterday from the FOS. The response was in relation to the email I received from LS advising of the increased interest/charges.

Dear Natty,

Thank you for your email.

As per my previous email to both Lending Stream and yourself (on 23 March 2015), I’ve asked them whether they would be willing to freeze interest and charges whilst I carry out my investigation. Whilst I appreciate the loans are in dispute, I will let you know their response once they come back to me.

Kind regards,
Adjudicator

[nanna58]

Re: Lending Stream

Have a good Easter Natty eat choc xxx

[Natty]

Re: Lending Stream

Have a good Easter Natty eat choc xxx

You to nanna. X

[Natty]

Re: Lending Stream

Happy Easter to all.

SnV,

I thought you you might find this email I received from LS yesterday very interesting:

View on web

Dear Natty, Lending Stream is committed to being a responsible loan provider and we strive to provide positive outcomes for our customers. During a periodic review of our lending process, we identified your loan account XXXXX as an instance where the loan does not reflect our current lending criteria. Consequently, we have made the decision to write-off the outstanding debt associated with this loan and close it immediately. We will also ensure that any negative credit marks associated with this loan are removed. There is nothing for you to do, you will not be required to pay back the balance of this loan. Should you have any questions, please contact us on 0203 564 7028*. Warm Regards, Lending Stream Customer Service The amount owing on this loan was £90.80, however I have another one with the same amount still outstanding. I also received earlier this week 4 emails offering me 40% discount off the remaining loans to settle. Moreover, today I have received 8 yes, yes 8 default notices. I only have 5 loans, well 4 now due to the one they are closing.

[nanna58]

Re: Lending Stream

Wow what a result run round and eat choc

[Natty]

Re: Lending Stream

Wow what a result run round and eat choc

nanna, I was quite shocked to read the contents of the email, I am a little confused as it only mentions one of the loans. Surely what they say MUST apply to all the other loans?

I am sure SnV will get back to me after the Easter holiday about this. However it is positive news.

[cymruambyth]

Re: Lending Stream

That's good news natty. Which loan was it? If it wasn't the first that may explain why only this one was written off.

[Natty]

Re: Lending Stream

That's good news natty. Which loan was it? If it wasn't the first that may explain why only this one was written off.

Hi Cymru,

It looks like it was the second loan I took out.

Jus to add I have received another 3 emails this past hour offering me the usual 40% discount to settle. I know they are automated, but I am being bombarded with these emails and texts.

[nanna58]

Re: Lending Stream

Natty its one less to worry about you ever know the other may be the same, well done you x

[Pixie]

Re: Lending Stream

Hi Cymru,

It looks like it was the second loan I took out.

Jus to add I have received another 3 emails this past hour offering me the usual 40% discount to settle. I know they are automated, but I am being bombarded with these emails and texts.

Can you not block the emails and texts Natty?

That email from LS is a step in the right direction

[Natty]

Re: Lending Stream

Hi SnV,

Just received this from P2P:

Notice of Acceleration: Your Entire Loan Balance is Now Due.



Pursuant to the Loan Agreement that you signed and the Terms & Conditions thereof, you are in default of the above referenced loan and have failed to take corrective action as detailed in the Notice of Default Sums sent to you at least 15 days ago.


We hereby exercise our contractual right of Acceleration. This means that:
- Your entire loan amount of principal, accrued interest and fees of £1495.25 is now due.
- We may notify the credit reporting agency of your default on this loan.
- We may sell your debt to a third-party debt purchaser who may exercise any rights available under the law in collecting the amount owed.
- Interest will not accrue from this point forward.

If you are experiencing difficulty in paying the sums owed under the agreement, then this notice serves as Pounds to Pocket’s offer to you to contact our Collections Team and work out equitable relief.

If you have queries, email or ring us promptly. We value your business, and we ask you to contact us immediately to resolve this matter. In order to retain your good standing with our company and the Credit Reporting Agency, we must hear from you immediately. Possible payment methods include:


- Debit Card
- Direct Debit from your bank account

If you have already made payment arrangements for the entire balance, please disregard this email.

I know that you kindly said you would put something together in a few days, which I really would sppreciate.

Warmest regards
Natty

[SaltnVinegar]

Re: Lending Stream

Hi Natty

This is a great result well done you!

So while this may be the smaller loan, and could be considered a 'gesture' (which I suspect may be the case if pressure is mounting from the FOS), what it also does is set a precedent.

Simply, if this loan did not reflect their current lending criteria, then none of the loans issued subsequent to that could do either, especially if the lending decision was based on the same information. While they are not coming right out and admiting liabiilty, or admitting irresponsible lending, this is effectively what they are saying.

What this also demonstrates is that you keep pushing the irresponsible lending route - I think the minimum result we're now looking for here is write off of interest/charges and you repay the capital loaned on an affordable monthly plan. Best result............ well lets see what we can push for

Dear Natty, Lending Stream is committed to being a responsible loan provider and we strive to provide positive outcomes for our customers. During a periodic review of our lending process, we identified your loan account XXXXX as an instance where the loan does not reflect our current lending criteria. Consequently, we have made the decision to write-off the outstanding debt associated with this loan and close it immediately. We will also ensure that any negative credit marks associated with this loan are removed. There is nothing for you to do, you will not be required to pay back the balance of this loan. Should you have any questions, please contact us on 0203 564 7028*. Warm Regards, Lending Stream Customer Service The amount owing on this loan was £90.80, however I have another one with the same amount still outstanding. I also received earlier this week 4 emails offering me 40% discount off the remaining loans to settle. Moreover, today I have received 8 yes, yes 8 default notices. I only have 5 loans, well 4 now due to the one they are closing.