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Lending Stream - Cancel direct debit?

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I'm defaulting on a Lending Stream loan. I've cancelled my debit card but I agreed to a direct debit being setup when I applied for the loan.


Obviously I want to take control of how I repay them.


What are my rights regarding direct debits? Can I write to Lending Stream removing their rights to apply it?


Their direct debit doesn't show on my bank account yet because they haven't tried to take any payments via it yet.


Any thought on how to stop them using the DD?

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Write both to Lending Stream and your bank revoking this authority.


Get another bank account if you can (Halifax, Co-op and Metro Bank all do good basic bank accounts with online facilites) and have your income paid into this, otherwise the company may 'appropriate' your funds.

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Watch your account like a hawk.


Once you have cancelled and written to both the bank and lending stream if they attempt to take money phone your bank and they will return it same day. They will only do this in cases of fraud or no direct debit mandate (which would apply esp if you have written to them withdrawing mandate).

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  • 3 months later...

Hi I also am having a few problems with lending stream,I have offered to pay them £420 in full to settle a debt that i took on months ago and they are saying I owe £520 now,this is my last pdl to get tid of,has anyone had any luck getting them to take a lower settlement amount?Im hoping they will take the £420 if I stand firm and insist that thats all I will pay,surely £420 in one go is better than a larger debt spread over a long period of time?

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  • 1 year later...
I have the Lending Stream bank details if you need them to make standing order payments.

I need Lending Stream bank details to make standing order, Please!


I do cocern Lending stream gonna take money out from my bank account on top of amount from the agreement. I have read many reviews about Lending Stream took money out when ever they want.

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There is quite a few more recent threads (then this) with their bank details posted

last resort try this http://www.consumeractiongroup.co.uk/forum/showthread.php?298608-Lending-Stream&highlight=lending+stream


For obvious reasons I really think your best asking them bearing in mind this is a public forum and age of postings

just saves another thread of 'Lender say's they haven't received my payment'

Edited by asmilecostsnothing

Happy to share my experience but for your own protection, please check and double check what myself and other Caggers inform


“Nothing in this world can take the place of persistence.”



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  • 2 months later...

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