Lending stream whats the deal with these

[asmilecostsnothing]

Or do we need to go with the original loan plus 3 to 4 months interest? obviously without charges. Might be a bit hard to work out though with Lending Stream

 

Thats what I wondered, also not sure if their classed outside the usual payday loan lender cos the loans can be up to 6 months duration ? mine wasI've checked through my paperwork and past statements worked out I've paid more then half back so far, they will have made just under £100 in charges but I think I'm not being charged further fee's now so that is something I guess.They now seem to have transferred my debt to Resolution Recoveries (their inhouse collections dept) with a review of current payment amount in 3 months Think this has the potential to be tricky

[sillygirl1]

Original loan and one months interest. That is it.

 

I won't reply to any more posts on this matter as I am getting very stressed by people continually questioning where the legal basis is and what case law applies. I am not legally trained and have gained the information from this site.

 

I have never been one for arguing the law, I just use logic and common sense.

[asmilecostsnothing]

:-)Thanks so much for reply Sillygirl, yep I do get where you are coming from and it certainly worked for me with another creditor on this exact basis so thanks again - without the great source that is this forum I'd have paid nearly £400 in charges alone and not had the willpower or know how to "tackle" it

[quackquack]

Cosa Nostra?

hey u guys if i was you i would definatly send lending stream payments asap as they have been known to pass ur debts on to a debt collection agency ,my friend didnt pay hers either until six months later bang a debt collection agency got in touch so pay them off asap or ur asking for more trouble,hope this helps

[asmilecostsnothing]

Woah there !! Sorry but I'm already dealing with this one QuackQuack and have been for some time now ! along with 4 others creditors thanks

 

I will never advertise people run from their debts - very far from it

 

You are right however, they will and do catch up with people !!!

Lending Stream will pass to Resolution Recoveries 1st if your lucky !

[quackquack]

Woah there !! Sorry but I'm already dealing with this one QuackQuack and have been for some time now ! along with 4 others creditors thanks

 

I will never advertise people run from their debts - very far from it

 

You are right however, they will and do catch up with people !!!

Lending Stream will pass to Resolution Recoveries 1st if your lucky !

Hey guy I wasn't trying to butt in just simply to say pay the debts u owe asap I wasn't implying u telling anyone not to pay at all ,just giving general sound advice as the last thing I'd want is a debt collection agency bothering me

[asmilecostsnothing]

OK... well I'm sorted with all my 5 creditors now fingers crossed - payment plans set up and started as I'm not in the lucky boat to pay them all straight of, I've avoided any further charges, court action, an administration order/CCJ and dealings with DCA (with the exc of Lending Stream of course)

am on here to gleen advice and give others on the 'journey' the benefit of what I've been through that helped in my situation

 

Perhaps I'll be back, if I do hit any problems but I'm not expecting any going forward now hopefully ! and my heart goes out to anyone dealing with the more underhand PDL's there are out there and I'm not ashamed to talk about my experiences nor say I'm in debt but I can honestly say I'm now dealing with this constructively, I've got control back and intend to keep it this way as we do also have rights!

[quackquack]

and good luck to you too

[Cait116]

Lending Stream have passed my account onto Mackenzie Hall who keep leaving emails and recorded messages. The emails have no reply facility and the telephone messages just tell me to call them. I have written to them asking for a copy of the credit agreement as I have absolutely no intention whatsoever paying them back nearly a grand for a couple of loans amounting to £300! I know a CCA for payday loans probably isn't the way to go but I want EVERYTHING in writing from these cowboys including a breakdown of interest, charges etc.

[dulwich1980]

Ok so i've finally heard from Lending Stream! They claim to have made repeated attempts to contact me - which they never. I have all the emails i sent to them (that went unnoticed) in my files so may just bombard them with all of those!

 

My debt has been passed on to Mackenzie Hall also. How are these people to deal with? I've noticed that people are saying that they're not very good with communication?! I'm really hoping that they don't call me at work also - are they known for doing this?

 

Anyhow, finally, has anyone's credit file been updated?

Edited September 28, 2011 by dulwich1980

[avfc1991]

Hi, I stupidly took a loan with lendingstream, also believing it was a 1 month loan.

 

I was planning on doing the first payment (£34), then paying the rest of in full once paid again.

 

However, the first payment didn't leave, and I got a text saying so. I've tried emailing them, using their 'contact us' form and ringing them and can not get in touch, neither have they replied.

 

Logged into my account now, and the account summary is empty, and the pages aren't loading.

 

I'd like to pay them, but they're making it impossible to pay :S Very frustrating as I don't want charges when it's not my fault. I want to just pay them off fully if possible now, they're a joke company and one I want my hands fully washed of.

 

Any advice?

[asmilecostsnothing]

:welcome:Please see below bank details for Lending Stream as I understand you want to make a payment - I would also send proof of payment so they know to look for it and allocate it to your account

Dear xxxxx

In response to your email here are our bank details what you can make payments into.

Barclays Bank

Sort code 20 19 90

Account 13434028

Ref Your loan agreement number

Hope this information helps.

Regards

Lending Stream

Payment Negotiator, Lending Stream Limited

Lending Stream Limited, Wisteria Cavendish House, 369 Burnt Oak Broadway, Edgware, Middlesex , HA8 5AW

 

 

I would recommend you check with your bank as Lending Stream are known for taking debit card payments and little ones... 3 at a time to make the payment amount !!! which depending who you bank with can get a fraud alert on your account which maybe blocking payment ?

[avfc1991]

Hi, thanks! Yes, £3 left earlier - I thought it may be them... I will try ringing them in the morning again, I just hate having to pay talk to these guys, why won't they answer their emails?

 

My loan was £100, plus £15, if I repay £36 tomorrow (if possible), any clue how much I'd have to pay mid January fully, and if they'd let me?

[asmilecostsnothing]

Honestly I'm not sure, though their Interest Fee is 30% per month (£30 per £100 borrowed)

 

Have you tried these email addresses

[email protected]

[email protected]

 

I'd always recommend asking early, I've heard they can be repaid early and it's not like your going into default, found if you make a payment they will take you seriously x

[asmilecostsnothing]

They also actively look at their facebook page...

Giving my secrets away now! lol

[sillygirl1]

Write to their registered address - send it so you have proof of delivery and a signature for collection - if no word from them after 14 days contact Trading Stanadards and the OFT and immediately (today) contact MP Stella Creasey as she is after the PDL companies and has journalists ready to name and shame these companies.... she can also help with your problem by getting her more senior contacts to look at the issue.

[asmilecostsnothing]

Why only now do these journalists really want to know? it's been bad dealing with these companies for a couple of years now the threads on here are evident and enough to have already filled a newpaper whilst the useless people in power turned their back, but then Lending Stream are covered by a trade association which is another avenue open to avfc1991 to take if no joy getting a responseMy friend said the MP letter I received recently was nothing more then a '****e' reply

[sillygirl1]

They now only want to know because it is newsworthy, that is why. There is no consipracy theory here, just the basic fact that ALL lenders have shut the stable door without bothering to find out any further ways of dealing with issues and these companies are proliferating and profiting from others misfortune.

 

Get your MPs reply over to Stella Creasey, she is dealing with this at a high level now and is the MP to watch out for. Her office has contacted me several times now about issues and I am passing on the information to her when I have permission from the original poster.

 

Sometimes being pessimistic about the issues helps keep them 'under wraps', speaking out and naming and shaming these shark companies is one of the better ways of bringing them into disrepute - as is continually complaining about every breach of the OFT Guidelines on debt collecting, spelling out exactly what breach has been made and in what way.... that helps the OFT build a far better portfolio against these companies.

[asmilecostsnothing]

Thank you for the reply SG yeah I can forward letter,

though I've probably already named and shamed majority of my lenders in some way already they will be wanting me for slander next lol! but just write what seemingly has worked for me, whether negative or positive. In the end I just found it was much easier to co-operate rather then it watch it balloon

 

Thanks for your time, god bless

[sillygirl1]

Stephen, this is a PAYDAY LOAN, not a SUB PRIME MORTGAGE, completely different kettle of fish.... The MCOB are powerless with payday loans.

 

I really do not think that Stella Creasy will be able to help with a sub prime mortgage company unless you are in her constituency (Walthamstow).

 

Your comments on your case, whilst interesting, have no relevance on this thread, I think that you ought to start a new thread or I can get the site team to do this for you - your message is completely out of place here.

 

A default on a payday loan takes place automatically as the original loan period has ended, there are completely different rules.

 

With a sub-prime mortgage once you are in arrears you are stuck as the original loan period still has a considerable time to go.

[stephen25000]

Sorry, have posted it in the wrong thread. It wasn't a Payday loan, but an actual secured loan on the property. Could the site team get it transferred. Appreciated.

[KOWENS132]

This thread was originally started in March 2011 and some of the posters had mentioned that they had defaulted many months before that but had heard nothing. I have a loan with LS that I will have to default at the end of this month. If possible I would be interested to know what the outcomes were for the other members that were in the same situation Many thanks in advance

[paxon]

Well 1 to 1 and a half years of hearing nothing.

Then a default notice sent by email.

Then a few letters from Mckenzie hall (what are jokers i personally would ignore anything from these monkeys)

Then it all went quiet again.

 

But thats not to say your case will not be different.

[asmilecostsnothing]

Asmilecostsnothing here! can only echo what Paxon has said in the last line, here is my experience

 

My defaulted a/c (which was half paid prior) passed quickly to Resolution ***** Recoveries - a leg of their own little circle No telephone calls - managed to communicate by email if a little slow in reply sometimes... I was a PITA!

 

Found if I paid the balance of rather quickly (couple of months) and with a few of my own letters the following charges were dropped (have that confirmed)

letter fee £12.00

collection fee £40.00

 

Make of that what you will - I'm still confuzzled! oh are they a payday lender though ??

Edited January 3, 2012 by asmilecostsnothing
tidy up

[jh35]

i also have probs with these cowboys, i had 2 loans, which the principal loan has been paid, and £200.00 more, they are still chasing me for the remainder, i have spoke to MH, and they wont budge, am i right in thinking in that the principla has been paid, and a little extra, that the loan is satisfied?