Lending Stream taking money -

[gigz87]

We had a loan with lending streak for £300 we cancelled our card and tried to reach an agreement but they wouldnt reach a fair one, now theyve took £1000 out my account and I dont know what to do cause now im £1000 over my overdraft...

[gigz87]

by the way im a student.. and my credit is fair...

[asmilecostsnothing]

Have you been in contact with your bank - they maybe able to reverse the transaction once 'cleared'Think you also should make a formal complaint to the company (in writing to the Middlesex address because we know they like to ignore emails...lol) with the view you'll esculate to the BCCA (British Cheque and Credit Association) and FOS (Financial Ombudsman)Just being nosey personally, did they try and get you to communicate with Resolution Recoveries when you say they wouldn't be reasonable about a repayment plan?

[Ell-enn]

How did they get £1,000 out of your account if you have cancelled your card ?

[asmilecostsnothing]

Hi

 

It's where some smart person at a bank while has issued a new card, but failed to close and or block the originating one before - sadly I've known it happen before...

 

A move that can happen on just a 'cancelled' card - eg. one that is not reported as stolen maybe?

 

Bank can also be reported to the FOS I think - again they would also have to be complained to first

 

£1000.00 does seem excessive and a lucky hit... would like to see Lending Stream talk their way out of it if true or payment does go through as my first point of call would have been the bank!

[gigz87]

I have no idea how they took it out of the account when we have definitely cancelled the last card, My partner was at placement all yesterday so she couldnt ring up but ill get her to ring lloyds tonight.. what do you think the chances of getting this back are?

 

oh and by the way it wasnt £1000 in one lump it was

 

£534.50

£434.50

£25.00

£25.00

[asmilecostsnothing]

Good if you get on this now and have also kept any paperwork (emails you've sent etc)Please do not delay and be firm with the bank and this company - I seriously think their in the wrong. Have you been in touch with LS?

Edited November 2, 2011 by asmilecostsnothing

[asmilecostsnothing]

Also did you have more then the one loan with them?I think a lot of people get caught out because this is an up to 6 month product and I hear they allow you to take more then one loan at a timeTheir also members of the BCCA (their trade association) but you could only go to them if have formally complained first to Lending Stream

[Michael Browne]

@lendingstream: Have you received permission from the site admin to post as a company repressentative, as per the forum rules:

 

 

5.4 If a Commercial Company, or Business, wishes to post on the forum in a representative capacity, we ask that they first seek permission from site administration (admin@consumeractiongrou p.co.uk). Failure to do so may result in posts being removed without notice whilst investigations are made to ascertain whether the user is acting with the full authorisation of the company or business concerned. Usernames highlighted in green have gone through this process.

[rebel11]

Lendingstream

 

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[asmilecostsnothing]

Poor attempt Lending Stream you know why people are recommended to stay of the telephone in these situations.

 

Dealing in writing allow facts to be properly discussed, records made and gives clear answers which can be referred back to not later denied.

 

I really wish the efforts to sit on these forums would be mirrored with actually getting back to debtors consistantly now wouldn't that be making progress..!!!

[gigz87]

Lloyds said they cant do nothing to help because its in there terms and conditions (lending Streams) to go into your account and take money..

 

Im really stuck im -£1000 I got rent car insurance and got to get to uni what am I meant to do?

 

Any Suggestions?

[Ell-enn]

How do Lloyds know it's in Lendingstream terms and conditions?

[gigz87]

Ive no idea??

[Dotty50]

Lloyds said they cant do nothing to help because its in there terms and conditions (lending Streams) to go into your account and take money..

 

Im really stuck im -£1000 I got rent car insurance and got to get to uni what am I meant to do?

 

Any Suggestions?

 

Was the money taken out within your agreed overdraft? Your first post indicates that this took you £1000 over your overdraft limit, if this is the case I would be asking questions again with LLoyds.

 

How can money be taken if it's not there in the first place or within your limit?

[gigz87]

Im a student my overdraft is £1500 Im now £2500 overdrawn..

[Dotty50]

Representative 3043.8% APR

[Dotty50]

Im a student my overdraft is £1500 Im now £2500 overdrawn..

 

Then the bank are at fault in my opinion.

 

I would be inclined to open an account elsewhere and tell Lloyds that they will get no money back apart from your agreed overdraft and no more as they have put you in an impossible position!

[Dotty50]

By what means did they take the payments?

 

Direct debit?

[Boxich]

I too have been hit with this today. Some advice would be really appreciated. They hit me for two amounts of £25 and £390ish, I do not have an overdraft and had only £27 in the account. There is no way I can afford to pay this at the moment, and lending stream were aware I was not in a position to pay. I went to see the bank this morning who basically told me there was nothing could be done. This has the potential to ruin my Christmas. I note also that they took the money from a card that was reported lost in July, but Lloyds still allowed it, im really worried here, please help.

[Ell-enn]

If you had only £27 in the account and have no overdraft facility then the amount of £390 they tried to take should have been declined

[Boxich]

Hi,

Thanks so much for replying, Lloyds said that because I have already authorised them to take payments, I have to take it up with them and they are not responsible, even from a "cancelled" card.

[Dotty50]

If you had only £27 in the account and have no overdraft facility then the amount of £390 they tried to take should have been declined

 

But this is what they have done to the OP but to the tune of £1000 over their overdraft limit!

[Ell-enn]

Boxich says he does not have an overdraft

[Dotty50]

But the OP gigz87 only has a £1500 overdraft which was already utilised but the bank has allowed a further £1000 to go out, surely this should have been declined too?