Lending Stream and pounds to pocket

[scottygees]

Re: Lending Stream and pounds to pocket

Thanks. Yes I am happy to go back to them in the first instance and argue irresponsible lending if you would be so kind to assist me in what to say to them. Thanks so much

I'm saying yes you could argue this, but the difference is I can help you with your argument

That, unfortunately, is no guarantee of success, and LS have a tendency to be intractable, but at the least we could string things out for several more months, with them not getting any more. That tends to focus their minds..........

However ultimately, as I mentioned, its your choice, I can't advise you one way or another, just offer support.

[scottygees]

Re: Lending Stream and pounds to pocket

Would you be in a position to help draft a further reply to Lending Stream to argue irresponsible lending?

[SaltnVinegar]

Re: Lending Stream and pounds to pocket

Would you be in a position to help draft a further reply to Lending Stream to argue irresponsible lending?

Hi Scotty

Can you post up the letter/email that you sent to them disputing the accounts with exact wording you used please? I need to know how you've approached this first.

Cheers
SnV

[scottygees]

Re: Lending Stream and pounds to pocket

Thanks. Please see the bottom of posts 10 &11 in this thread. I am having difficulty copying it in to this reply.

Hi Scotty

Can you post up the letter/email that you sent to them disputing the accounts with exact wording you used please? I need to know how you've approached this first.

Cheers
SnV

[scottygees]

Re: Lending Stream and pounds to pocket

So it's been about 6 weeks since I stopped paying either lending stream and p2p. After the initial barrage of calls from p2p and emails from lending stream nothing seems to be happening. Should I be worried? I am still wanting to go down the irresponsible lending route on both of these accounts though. So any further advice on how best to word such a letter to them would be greatly appreciated

many thanks in advance

Hi Scotty

Can you post up the letter/email that you sent to them disputing the accounts with exact wording you used please? I need to know how you've approached this first.

Cheers
SnV

[SaltnVinegar]

Re: Lending Stream and pounds to pocket

Hi Scotty

Don't worry I haven't forgotten you - just working 60 hour weeks at the moment so having to juggle things!

As it happens there really is no rush here, they cannot do more than double the principal sum lent due to the new rules the FCA brought in, and if they are getting paid nothing then they will be more likely to accept something.

From your other threads you've got more important priorities than the payday loans right now so focus on them

[scottygees]

Re: Lending Stream and pounds to pocket

Thanks for the reply.

I was was going to get a few things sorted over the Easter weekend including sending PPI enquires, CCA requests and also these irresponsible lending letters. Get it all done in one go so I can keep organised.

Hi Scotty

Don't worry I haven't forgotten you - just working 60 hour weeks at the moment so having to juggle things!

As it happens there really is no rush here, they cannot do more than double the principal sum lent due to the new rules the FCA brought in, and if they are getting paid nothing then they will be more likely to accept something.

From your other threads you've got more important priorities than the payday loans right now so focus on them

[cymruambyth]

Re: Lending Stream and pounds to pocket

Remember with PPI enquiries that if the account is in default and with the original lender then the money is offset against the outstanding balance. Also, if you are trying for statute barred this will reset the clock.

[scottygees]

Re: Lending Stream and pounds to pocket

I am aware of that.as far as statute barred is concerned I am currently still paying on a DMP so this wouldn't have too much affect unless any claim drags on

Remember with PPI enquiries that if the account is in default and with the original lender then the money is offset against the outstanding balance. Also, if you are trying for statute barred this will reset the clock.

[SaltnVinegar]

Re: Lending Stream and pounds to pocket

Hi Scotty

Ok, lets try an approach a member of AAD used and see if it gets you a result (did for them). Try this (amend to your personal circumstances):

Dear Lending Stream

Thank you for your letter/email dated xx/xx/xxxx. I am disappointed to note that you have not considered my personal circumstances, and that consequently you may have breached your lending criteria, and would ask you to review the matter and reconsider.

Between the period xx/xx/xxxx and xx/xx/xxxx I have had xx loans with your company (make sure to include any 'rollovers' that you may have incurred here)

I have been borrowing very frequently and up to a maximum amount for months, and to try to pay back your payday loans have required me to take out other pay day loans just to make the payments so i can still pay my monthly living expenses. My income provided to you for this period was between £xxx per month and an average from employment and the rest from benefits.

At the time of applying for these loans I was also in a vunerable position and ask that you also take this into consideration.

My living expenses vary but are roughly:

Rent - £xxx
Council tax - £xxx
Water Rates - £xxx
Electric - £xxx
Gas - £xxx
Travel costs - £xxx
Food+toiletries - £xxx
Childcare - £xxx
Other debts - £xxx
TOTAL: £xxx

This shows I couldnt afford to repay these loans and have to take out more loans to repay loans I feel it has been irresponsible of you to continue allowing these loans, but also to continue to send marketing to me encourage me to take out further loans.

Because of the numebr of loans you have sold to me I will be unable to make the payments and to do so will place me in severe financial hardship.

You should have been able to tell this from credit reports which showed you the other borrowing I had and my debt problems. So you should never have given me these unaffordable loans.

I would like to ask you to refund me the interest from previously repaid loans and consider writing off the loans I have with you.

Thankyou for considering my personal circumstances and look forward to hearing from you.

[scottygees]

Re: Lending Stream and pounds to pocket

Thanks for this. I will get this sent off this weekend. I will keep you updated

QUOTE=SaltnVinegar;558558]Hi Scotty

Ok, lets try an approach a member of AAD used and see if it gets you a result (did for them). Try this (amend to your personal circumstances):

Dear Lending Stream

Thank you for your letter/email dated xx/xx/xxxx. I am disappointed to note that you have not considered my personal circumstances, and that consequently you may have breached your lending criteria, and would ask you to review the matter and reconsider.

Between the period xx/xx/xxxx and xx/xx/xxxx I have had xx loans with your company (make sure to include any 'rollovers' that you may have incurred here)

I have been borrowing very frequently and up to a maximum amount for months, and to try to pay back your payday loans have required me to take out other pay day loans just to make the payments so i can still pay my monthly living expenses. My income provided to you for this period was between £xxx per month and an average from employment and the rest from benefits.

At the time of applying for these loans I was also in a vunerable position and ask that you also take this into consideration.

My living expenses vary but are roughly:

Rent - £xxx
Council tax - £xxx
Water Rates - £xxx
Electric - £xxx
Gas - £xxx
Travel costs - £xxx
Food+toiletries - £xxx
Childcare - £xxx
Other debts - £xxx
TOTAL: £xxx

This shows I couldnt afford to repay these loans and have to take out more loans to repay loans I feel it has been irresponsible of you to continue allowing these loans, but also to continue to send marketing to me encourage me to take out further loans.

Because of the numebr of loans you have sold to me I will be unable to make the payments and to do so will place me in severe financial hardship.

You should have been able to tell this from credit reports which showed you the other borrowing I had and my debt problems. So you should never have given me these unaffordable loans.

I would like to ask you to refund me the interest from previously repaid loans and consider writing off the loans I have with you.

Thankyou for considering my personal circumstances and look forward to hearing from you.[/QUOTE]

[scottygees]

Re: Lending Stream and pounds to pocket

I have sent the below letter to Lending Stream today. So let's see what comes back

thanks again

Hi Scotty

Ok, lets try an approach a member of AAD used and see if it gets you a result (did for them). Try this (amend to your personal circumstances):

Dear Lending Stream

Thank you for your letter/email dated xx/xx/xxxx. I am disappointed to note that you have not considered my personal circumstances, and that consequently you may have breached your lending criteria, and would ask you to review the matter and reconsider.

Between the period xx/xx/xxxx and xx/xx/xxxx I have had xx loans with your company (make sure to include any 'rollovers' that you may have incurred here)

I have been borrowing very frequently and up to a maximum amount for months, and to try to pay back your payday loans have required me to take out other pay day loans just to make the payments so i can still pay my monthly living expenses. My income provided to you for this period was between £xxx per month and an average from employment and the rest from benefits.

At the time of applying for these loans I was also in a vunerable position and ask that you also take this into consideration.

My living expenses vary but are roughly:

Rent - £xxx
Council tax - £xxx
Water Rates - £xxx
Electric - £xxx
Gas - £xxx
Travel costs - £xxx
Food+toiletries - £xxx
Childcare - £xxx
Other debts - £xxx
TOTAL: £xxx

This shows I couldnt afford to repay these loans and have to take out more loans to repay loans I feel it has been irresponsible of you to continue allowing these loans, but also to continue to send marketing to me encourage me to take out further loans.

Because of the numebr of loans you have sold to me I will be unable to make the payments and to do so will place me in severe financial hardship.

You should have been able to tell this from credit reports which showed you the other borrowing I had and my debt problems. So you should never have given me these unaffordable loans.

I would like to ask you to refund me the interest from previously repaid loans and consider writing off the loans I have with you.

Thankyou for considering my personal circumstances and look forward to hearing from you.

[SaltnVinegar]

Re: Lending Stream and pounds to pocket

I have sent the below letter to Lending Stream today. So let's see what comes back

thanks again

Hopefully you completed the bits in red and didn't sent it verbatim?!

[scottygees]

Re: Lending Stream and pounds to pocket

Hopefully you completed the bits in red and didn't sent it verbatim?!

Ha ha. Yes I did complete the parts in red. Not as daft as I look!

[SaltnVinegar]

Re: Lending Stream and pounds to pocket

Ha ha. Yes I did complete the parts in red. Not as daft as I look!

I was sure you wouldn't have done such a thing but it has been known for some to send a template letter with xxxxxxxxxx not filled out

Lets see how they respond....