Lending Stream and Sunny Problems

[SaltnVinegar]

Re: Lending Stream and Sunny Problems

Ok

Done the income expenditure from your link. Shall I send it you to take a look at?

Thanks

Excellent!

Yes just email it across to the address in my signature.

[thaiguru76]

Re: Lending Stream and Sunny Problems

Ok

Done the income expenditure from your link. Shall I send it you to take a look at?

Thanks

[thaiguru76]

Re: Lending Stream and Sunny Problems

I wouldn't necessarily trust one that a creditor sends you. Do you have time today to look at this one from NEDCAB?

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

The is based on the Common Financial Statement format, and will also base allowances on the correct trigger figures (http://www.cfs.moneyadvicetrust.org/faqs.asp?page_id=37)

That way you'll have an accurate financial statement based on the CFS format, which creditors should not refuse without good reason.

Looking at it now. Thanks

Shall I send you a copy once its done?

[SaltnVinegar]

Re: Lending Stream and Sunny Problems

Hi SnV

I have completed the Lending Stream income and expenditure form, but not sent it to them. Can I send you a copy via an attachment so that you can look over it? It works out at £15 per month that I can pay them. Obviously It would also be the same for Sunny.

Thanks again

I wouldn't necessarily trust one that a creditor sends you. Do you have time today to look at this one from NEDCAB?

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

The is based on the Common Financial Statement format, and will also base allowances on the correct trigger figures (http://www.cfs.moneyadvicetrust.org/faqs.asp?page_id=37)

That way you'll have an accurate financial statement based on the CFS format, which creditors should not refuse without good reason.

[Never-In-Doubt]

Re: Lending Stream and Sunny Problems

Thanks. I'll just be glad when I know exactly where I stand. I don't need the stress when I am trying to give up alcohol.

I can imagine - won't be easy but try not to stress, SnV will help you out - he's good like that.

Well done on giving up the drink - pretty impressive

[thaiguru76]

Re: Lending Stream and Sunny Problems

Hi SnV

I have completed the Lending Stream income and expenditure form, but not sent it to them. Can I send you a copy via an attachment so that you can look over it? It works out at £15 per month that I can pay them. Obviously It would also be the same for Sunny.

Thanks again

[thaiguru76]

Re: Lending Stream and Sunny Problems

You have my vote mate. You don't need to sell yourself - we do it for you

Thaiguru - I'm sure SnV will help with a template. Sit tight

Thanks. I'll just be glad when I know exactly where I stand. I don't need the stress when I am trying to give up alcohol.

[Never-In-Doubt]

Re: Lending Stream and Sunny Problems

All I can say to that is that I have helped over 2,000 people with PDL debt (last time I counted), and there has only been 2 people that I wasn't able to help (who buried their heads in the sand).

You have my vote mate. You don't need to sell yourself - we do it for you

Thaiguru - I'm sure SnV will help with a template. Sit tight

[thaiguru76]

Re: Lending Stream and Sunny Problems

Sorry I posted at about the same time as you so you can ignore part of my last message.

I think I will reveal my alcohol and gambling addiction as well as send in the income and expenditure forms. I will refuse if they ask for proof of JSA/Termination of employment.

Is there an email template or best way of wording things that you would reccommend?

Thanks again

[thaiguru76]

Re: Lending Stream and Sunny Problems

Hi SnV

I have already decided to take your advice as you have taken the time to look into everything and as you say CAG have not.

I will be going for a repayment plan, but I still wish to know if I should mention the alcohol and gambling problems and the excessive number of loans granted over a short period of time to see if I can get a couple of the loans written off. I have no intention of mentioning the employment situation.

Thanks again for all the help you have given me so far and I don't want you to think I was being underhand by posting on CAG as well. I was just looking at my options and I apologise if I have offended you as that was definitely not my intention.

[SaltnVinegar]

Re: Lending Stream and Sunny Problems

But is there a case of irresponsible lending based on number of loans as well as number of loans in quick succession i.e pay one off then take out another one within a day or two. Especially given that the amounts tended to increase.. Should that not be warning signs to the Lenders

Personally I would say yes, however from my experience of Lendingstream they would say no. I also know that the FOS will not agree with the above either, as long as the products offered were affordable. How do I know this? Because one of our members recently had the FOS side with LS on this, and they had FIVE loans with LS!!!

The ONLY way this can be decided definitively is in a Court, and even then each case rests on its own merits, and considering the circumstances of your applications I would not like to take that chance (even though the chance of a court claim would be miniscule)

Also should I let them know of my alcohol and gambling addiction? That makes them aware of the issue without letting them know my employment status.

Thats very personal and only you can make that decision. You may get more leverage (and forebearance), by revealing that.

[SaltnVinegar]

Re: Lending Stream and Sunny Problems

Ok well I've actually read through the thread on CAG, I can see the people offering you advice are telling you that I'm talking rubbish. All I can say to that is that I have helped over 2,000 people with PDL debt (last time I counted), and there has only been 2 people that I wasn't able to help (who buried their heads in the sand), and look at the successful threads on this forum. Then look at the number of posters on CAG who after much bluster are left dangling. I don't need to make statements of 'that other forum is talking rubbish' I'll let the results here speak for themselves.

The reason why I ask for so much information upfront is so that any suggestions are informed and don't leave you open to more risk.

The advice you've been given on CAG has been offered, without even knowing when you took the loans out, looking at the credit agreements, whether the agreements adhere to current legislation on short term high cost loans, whether they have followed pre-contract requirements, how much risk there is to you, or even helping you understand the legislation behind what you are arguing - just a 'go for the throat'.

There has been no consideration of what the risks are to you, what it could cost you should things go wrong, or even informing you of what you will leverage in your complaint to your creditors.

Obviously you decide which advice to take, and if you do 'go for the throat' wish you the very best of luck.

[thaiguru76]

Re: Lending Stream and Sunny Problems

So you see that IS an example of irresponsible lending, ESPECIALLY if you have informed them of financial hardship!

Completely agree with that. I mean they sent me the income and expenditure form so they are fully aware that I am unable to pay the existing loans let alone take out another.

[thaiguru76]

Re: Lending Stream and Sunny Problems

Thanks SnV

I definately don't want to go down the route of letting them know I lied on the application. I agree that I don't need that extra stress. But is there a case of irresponsible lending based on number of loans as well as number of loans in quick succession i.e pay one off then take out another one within a day or two. Especially given that the amounts tended to increase.. Should that not be warning signs to the Lenders.

Also should I let them know of my alcohol and gambling addiction? That makes them aware of the issue without letting them know my employment status.

Thanks again

[SaltnVinegar]

Re: Lending Stream and Sunny Problems

Unbelievable

Lending Stream have offered me another £600 loan. Of course I have not taken it, but that is just ridiculous.

So you see that IS an example of irresponsible lending, ESPECIALLY if you have informed them of financial hardship!