Struggling with a lending stream, well 4 LS loans...

[SaltnVinegar]

Re: Struggling with a lending stream, well 4 LS loans...

My WDA has defaulted and charges of £12 added. Text message sent but no phone call.
I'm sure I set it as the 26th/27th, maybe I have done this accidently. Regardless, can't make payment.

Tried to update my email on their website, but they don't have that facility. Little unusual.
No longer have access to email that was used to sign up - Should I be doing anything further at this stage?
Shows defaulted on their website. Also CPA cancelled, but doesn't matter anyway as there is no money in the account to take.

Well if you can't access the email account you set the loan up with then you have two options:

1) Call them up to inform them of change of details (not advisable)
2) Wait for them to write to you

Have you gone through an I/E assessment yet to look at what you can afford to make in terms of repayments?

[Addy 2015]

Re: Struggling with a lending stream, well 4 LS loans...

Well if you can't access the email account you set the loan up with then you have two options:

1) Call them up to inform them of change of details (not advisable)
2) Wait for them to write to you

Have you gone through an I/E assessment yet to look at what you can afford to make in terms of repayments?

I'll opt for option two. I haven't completed an I/E yet - any recommendation as far as tools? Or just use a spreadsheet?
Going to be working some overtime and putting this towards repayments.

[cymruambyth]

Re: Struggling with a lending stream, well 4 LS loans...

Don't include overtime in your figures as that is a variable. Undercover Elsa is our I&E specialist and will usually check figures to make sure that you not paying too much and are allowing for the full amounts.

[CleverClogs (RIP)]

Re: Struggling with a lending stream, well 4 LS loans...

Have you gone through an I/E assessment yet to look at what you can afford to make in terms of repayments?

Two shirt buttons and a bent paperclip?

[Addy 2015]

Re: Struggling with a lending stream, well 4 LS loans...

Haha @ CleverClogs. This wage that I will receive tonight will be put towards clearing all little PDL's off, and I'll just have LS/WDA to deal with then.
Itt'l leave me with around £200 for the month, which is do-able! Any overtime I do will just be additional to my payments. I won't be putting it in budget.

[SaltnVinegar]

Re: Struggling with a lending stream, well 4 LS loans...

I'll opt for option two. I haven't completed an I/E yet - any recommendation as far as tools? Or just use a spreadsheet?

This is a good one:

https://nedcab.cabmoney.org.uk/quickfs.asp

[Addy 2015]

Re: Struggling with a lending stream, well 4 LS loans...

Hi guys

Been a while since I've been on, managed to pay all my other debts, apart from Lending Stream.
Up to date with everything apart from this.

I have however had one of my loans written off (ID ******41)

Dear Addy 2015,

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 *****41 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 ...

Warm Regards,
Lending Stream Customer Service

I contacted LS to ask them why this had been written off, and confirmed it was loan 2/4 that I received, however they couldn't give me an answer and assured me that all other loans still stood and were to be repaid. No offer to escalate/check. Was hoping for further advice with this? Do I now stand in a stronger position to have any further balances written off?

[SXGuy]

Re: Struggling with a lending stream, well 4 LS loans...

Someone else may answer your question better than I, but im posting just to let you know, ive edited your post to remove your real Full Name. Although we are all trustworthy upstanding peeps, we dont want lending stream reading this and seing your full name

[Addy 2015]

Re: Struggling with a lending stream, well 4 LS loans...

You're a gem, thankyou.

[Never-In-Doubt]

Re: Struggling with a lending stream, well 4 LS loans...

Hi guys

Been a while since I've been on, managed to pay all my other debts, apart from Lending Stream.
Up to date with everything apart from this.

I have however had one of my loans written off (ID ******41)



I contacted LS to ask them why this had been written off, and confirmed it was loan 2/4 that I received, however they couldn't give me an answer and assured me that all other loans still stood and were to be repaid. No offer to escalate/check. Was hoping for further advice with this? Do I now stand in a stronger position to have any further balances written off?

No. It's totally their choice - they've made a business decision to write one off. As you had 4 at one time you might get 2 others written off as responsible lending really means 1 PDL at any one time. The same firm giving multiple loans IS irresponsible.

You might get a couple more wiped. See what SnV says but for now, chillax. That's a good result.

[Addy 2015]

Re: Struggling with a lending stream, well 4 LS loans...

Just like to point out that I have made no contact with them at all.
Thanks for the feedback so far!

[panther12]

Re: Struggling with a lending stream, well 4 LS loans...

Sorry I can't really offer much help on pdl's except to say that my Nephew also has 4 lending stream loans and they also wrote off one of them. He also had a wonga loan that was written off. I've not started any thread about his debts because quite frankly he doesn't deserve the time of day and is still in denial that he has a gambling addiction and all previous help from the family has been thrown back in our face. In his case I wished they hadn't wrote it off as it's just one big joke to him and encourages him to apply for every known pdl provider on the planet to fund his addiction thinking that all the others will eventually write it off.

The only reason I know about his PDL's is because when we tried to help him 2 years ago he promised to get help with his gambling and gave me his online login details to monitor that he isn't going to gamble again. He soon changed his passwords to carry on gambling but he doesn't know I can still access his hotmail email where there's hardly a week goes by without him applying for more pdl and he even asked wonga & LS to give him another loan to replace the one they wrote off!!

[SaltnVinegar]

Re: Struggling with a lending stream, well 4 LS loans...

Hi Addy

This is interesting, as I'm also helping out another AAD member who has had one of five loans written off - have a look here:

http://forums.all-about-debt.co.uk/s...Lending-Stream

[SaltnVinegar]

Re: Struggling with a lending stream, well 4 LS loans...

Hi Addy

Another AAD who has had loans written off by LS:

http://forums.all-about-debt.co.uk/s...l=1#post503078