Lending Stream

[Natty]

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,

Thank you once again, for your precious time and guidance.

I will get this sent later tonight.

Dad has his op on Monday, he is so worried, but I know this will give him a better quality of life.

Thanks for your good wishes.

[Natty]

Re: Lending Stream

I have received this response from the FOS in relation to my LS case:

Dear Natty,

Thank you for your patience while I’m looking into your complaint against Lending Stream.

I’m in the process of reviewing the information both you and Lending Stream have sent me. I’m hopeful I’ll be able to provide you with an update on your complaint by the end of next week.

Please come back to me in the meantime if you have any questions.

Kind regards,

FOS

[nanna58]

Re: Lending Stream

Love and good luck to dad Natty xxxx

[Natty]

Re: Lending Stream

Love and good luck to dad Natty xxxx

Thanks nanna
x

[Natty]

Re: Lending Stream

Good morning SnV

I have this morning received 4 separate notices of termination for each of the 4 loans from
LS.

Formal Demand Pursuant to Default Notice under the Consumer Credit Act 1974, s87 (1)




The notice basically states as I have ignored all requests to settle the accounts

it states this: (The court and judgement wording has stressed me)

Also, the interest on the Outstanding Loan Amount will continue to accrue until the TotalOutstanding Payments are paid. Hence, we request you to kindly pay the Total OutstandingPayments as soon as possible.


You should be aware that we may take you to court and get a judgement against yourequiring you to pay us the money you owe us under the Agreement, you may have to payus both the amount of the judgement and interest under the Agreement on all the sums.

owed by you at the date of the judgement until you have paid these in full. This means thateven if you pay off the whole amount of the judgement, you may still have a further sum topay. If you do not settle the balance on your account we may transfer the responsibility forrecovery of the debt to one of our debt recovery agents with a view to taking action forrecovery.
IF YOU HAVE DIFFICULTY IN PAYING ANY SUM UNDER THE AGREEMENT ORTAKING ANY OTHER ACTION REQUIRED BY THIS NOTICE, YOU CAN APPLYTO THE COURT WHICH MAY MAKE AN ORDER ALLOWING YOU MORE TIME.
IF YOU ARE NOT SURE WHAT TO DO YOU SHOULD GET HELP AS SOON ASPOSSIBLE. FOR EXAMPLE, YOU SHOULD CONTACT A SOLICITOR, YOURLOCAL TRADING STANDARDS DEPARTMENT OR YOUR NEAREST CITIZENS’ADVICE BUREAU.

Please contact Lending Stream on 0203 564 7028 or at the above address if you wish todiscuss this matter further.





These people sure know how to stress you out!

[SaltnVinegar]

Re: Lending Stream

Hi Natty

A notice of termination is a legal requirement they have to issue, so they are following the rules there. The wording is naughty and is complete bovine excrement as it makes out that it is a foregone conclusion that IF they go to court then they WILL get a judgement.

A court would take a dim view of LS predicting the outcome of a hearing, the correct wording should be along the lines of 'if we go to court, and a judgement is found in our favour'.

They are also ignoring the requirements laid down by the FCA earlier this year with regard to the maximum interest and charges that can be accrued on payday loans (basically they cannot exceed double the original loan amount).

Is that the full wording of what has been sent to you? If not could you put it up in full please? The exact wording is important, as there are legislative requirements here that they have to follow.

Best
SnV

Good morning SnV

I have this morning received 4 separate notices of termination for each of the 4 loans from
LS.

Formal Demand Pursuant to Default Notice under the Consumer Credit Act 1974, s87 (1)




The notice basically states as I have ignored all requests to settle the accounts

it states this: (The court and judgement wording has stressed me)

Also, the interest on the Outstanding Loan Amount will continue to accrue until the TotalOutstanding Payments are paid. Hence, we request you to kindly pay the Total OutstandingPayments as soon as possible.


You should be aware that we may take you to court and get a judgement against yourequiring you to pay us the money you owe us under the Agreement, you may have to payus both the amount of the judgement and interest under the Agreement on all the sums.

owed by you at the date of the judgement until you have paid these in full. This means thateven if you pay off the whole amount of the judgement, you may still have a further sum topay. If you do not settle the balance on your account we may transfer the responsibility forrecovery of the debt to one of our debt recovery agents with a view to taking action forrecovery.
IF YOU HAVE DIFFICULTY IN PAYING ANY SUM UNDER THE AGREEMENT ORTAKING ANY OTHER ACTION REQUIRED BY THIS NOTICE, YOU CAN APPLYTO THE COURT WHICH MAY MAKE AN ORDER ALLOWING YOU MORE TIME.
IF YOU ARE NOT SURE WHAT TO DO YOU SHOULD GET HELP AS SOON ASPOSSIBLE. FOR EXAMPLE, YOU SHOULD CONTACT A SOLICITOR, YOURLOCAL TRADING STANDARDS DEPARTMENT OR YOUR NEAREST CITIZENS’ADVICE BUREAU.

Please contact Lending Stream on 0203 564 7028 or at the above address if you wish todiscuss this matter further.





These people sure know how to stress you out!

[SaltnVinegar]

Re: Lending Stream

And just something else to point out here Natty - these emails have probably been issued via an automated computer system. It will be oblivious to the dispute you have open with them, not to mention the fact the account is being dealt with by the FOS. Its all more evidence to show that LS are being unreasonable, as you have evidence from the FOS they agreed to freeze interest & charges, yet this email states they will not.

[Natty]

Re: Lending Stream

Hi SnV,

I have received 4 individual emails.

The context of the emails States:

Dear Natty,

We are writing to inform you that your loan account with us has been terminated as of 23-Apr-2015. Since you didn't bring the account below up to date within the 14-day grace period mentioned in our last message, we're required to send you the attached notice.

If you need free and impartial debt advice, you can also contact the Money Advice Service on 0300 500 5000* or at www.moneyadviceservice.org.uk.

Please contact us at info@lendingstream.co.uk or on 0203 564 7028* if you have any questions.

Regards,
Lending Stream Customer Service

Dear Natty,

RE: Agreement Number: XXX
We refer to the Default Notice which we issued on 04-Apr-2015 in connection with the above Agreement. We note that the period during which you could remedy the Default has expired on 23-Apr-2015, and that we still have not received the Outstanding Payments in arrears.
In the circumstances, we hereby give you formal notice of our intention to terminate the Agreement on the 23-Apr-2015 and to demand payment of the Total Outstanding Payments under the Agreement to be debited from Your Debit Card.
Outstanding Amount in arrears is £136.20 Details of Payments to be debited:-
a. Loan Amount (excess to Outstanding Payments in arrears): £0.00 b. Interest (excess to Outstanding Payments in arrears) : £0.00
c. Fees : £0.00
Total Outstanding Payments : £136.20
Also, the interest on the Outstanding Loan Amount will continue to accrue until the Total Outstanding Payments are paid. Hence, we request you to kindly pay the Total Outstanding Payments as soon as possible.
You should be aware that we may take you to court and get a judgement against you requiring you to pay us the money you owe us under the Agreement, you may have to pay us both the amount of the judgement and interest under the Agreement on all the sums
Authorised and Regulated by the Financial Conduct Authority. Interim Permission Number 643942.
Registered Address: Lending Stream LLC, 2711 Centerville Road, Suite 400, Wilmington, DE 19808, USA. | Registered in the State of Delaware, USA | Registration Number: 4124111

owed by you at the date of the judgement until you have paid these in full. This means that even if you pay off the whole amount of the judgement, you may still have a further sum to pay. If you do not settle the balance on your account we may transfer the responsibility for recovery of the debt to one of our debt recovery agents with a view to taking action for recovery.
IF YOU HAVE DIFFICULTY IN PAYING ANY SUM UNDER THE AGREEMENT OR TAKING ANY OTHER ACTION REQUIRED BY THIS NOTICE, YOU CAN APPLY TO THE COURT WHICH MAY MAKE AN ORDER ALLOWING YOU MORE TIME.
IF YOU ARE NOT SURE WHAT TO DO YOU SHOULD GET HELP AS SOON AS POSSIBLE. FOR EXAMPLE, YOU SHOULD CONTACT A SOLICITOR, YOUR LOCAL TRADING STANDARDS DEPARTMENT OR YOUR NEAREST CITIZENS’ ADVICE BUREAU.
Please contact Lending Stream on 0203 564 7028 or at the above address if you wish to discuss this matter further.
Regards,
Customer Care Team Lending Stream

[Natty]

Re: Lending Stream

SnV,

Each of the 4 notices are identical to what I have posted above, except for the amounts.

Many thanks for posting.

[Natty]

Re: Lending Stream

Hi SnV,

I have just received this email from P2P:

It really is like pulling a tooth out with these people'! Do they not read!


Customer #
Natty,


Thank you for your correspondence.

Natty I've reviewed you account and see no e-mail or call updating us of your new e-mail address. We canceled CPA in January of 2015 and from that point it was your responsibility to make payments on your loan. It appears we have only received 1 payment thus far on the account.

Natty, e-mail is but one way to contact us to discuss your account. We have free contact via landline via our 0800 line and Live Chat.

We must obtain acceptable arrangements on loan to avoid sell to 3rd party collection agency. We would like to avoid that from happen. Please answer the following questions to help us assist with determining an affordable payment for you.

What is your monthly income?
What is your monthly rent or mortgage?
How much are your monthly utility bills?
How much are your monthly transportation expenses?
How much are your monthly food commitments?
How much are your monthly credit commitments?
Do you have any other major monthly expenses, and how much?

Once we have received your responses we will then use this information to provide a valid arrangement to you!

[SaltnVinegar]

Re: Lending Stream

We refer to the Default Notice which we issued on 04-Apr-2015 in connection with the above Agreement.

Hi Natty

I've looked back through the thread and noticed that although you mentioned the DN's you didn't post their content. Could you post up the exact wording of one of them please?

Thanks
SnV

[nightwatch]

Re: Lending Stream

pulling teeth is over quicker!

Hope all goes well for Dad (I am sure it will) xxxx

[Natty]

Re: Lending Stream

Hi Natty

I've looked back through the thread and noticed that although you mentioned the DN's you didn't post their content. Could you post up the exact wording of one of them please?

Thanks
SnV

Hi SnV,

I posted the DN at 09:40, sorry I am on my phone and cannot see the post number.

Sorry for the confusion! I keep jumping from P2P to LS.

[Natty]

Re: Lending Stream

Hi Natty

I've looked back through the thread and noticed that although you mentioned the DN's you didn't post their content. Could you post up the exact wording of one of them please?

Thanks
SnV

Hi SnV,

The contents of the DN are on post 458.

Sorry this must be so confusing! as I am constantly posting updates on LS & P2P ( I have received another response from P2P today)

[Natty]

Re: Lending Stream

pulling teeth is over quicker!

Hope all goes well for Dad (I am sure it will) xxxx

Thank you Nightwatch x