Lending Stream taking money -

[Dotty50]

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/27/27-directdebit-guarantee.htm

 

Shouldn't this apply to both gigz87 and boxich?

[Boxich]

Hi Dotty, I don't think that applied because it was my old card number they raided not a direct debit. I might have read it wrong though. The card they took it off was reported lost in July.

[Dotty50]

If it was requested using card details that was reported lost months ago then they should still not have authorised the payment.

[nortel]

Its interesting that all the people involved in this thread and the other LS thread bank with Lloyds TSB. I wonder if anyone using other baniks has had their cancelled cards tried but the transaction rejected.

 

One other thing which is I really so not understand. lets look at a typical timeline.....

 

1. Debtor decides he has been ripped off enough by LS and cancels debit card

2. LS inform debtor that the payment from the card failed

3. Debtor tries to contact LS with little or no success

4. months later a randon payment is taken from the debtors account USING THE OLD CANCELLED CARD

 

How the hell can a transaction be rejected when the card was origionally cancelled, but allowed to go through months later?

I wonder if Lloyds TSBs systems release the lock after so many months of inactivity?

 

Do we have any LTSB reps on here that may be able to shed some light?

Edited November 3, 2011 by nortel

[nortel]

Looks like the LS website is down now too.

[asmilecostsnothing]

Thanks for the tip of about their site Nortel - my beef largely with them I guess is over this and their website not displaying my account properly so wouldn't show payments made :o) - anyone else had this?

[gigz87]

Ill ring lloyds tsb again soon as I can anyone got any ideas on what I should say to resolve this issue?

[nortel]

Let us know how you get on. I have phoned LTSB 3 times and got to the same conclusion. I have even threatened to abandon my current account and told them I had no confidence that my money was safe with them this apparently has been escalated buit im not holding my breath.

[rebel11]

Also the latest (Oct 2011) guidelines on debt collection:- http://www.oft.gov.uk/shared_oft/consumer_leaflets/credit/OFT664Rev.pdf

 

m. misusing a continuous payment authority, including by (this is a

non-exhaustive list):

• debiting a debtor's account other than on a date or dates

as expressly set out in the relevant agreement, unless

otherwise specifically agreed with the debtor subsequent

to the agreement having been concluded (for example,

where an alternative repayment plan has subsequently

been agreed between the creditor and the debtor)

• debiting lesser or greater amounts than those expressly set

out in the relevant agreement unless the debiting of such

amounts has been specifically agreed with the debtor

subsequent to the agreement having been concluded (for

example, where an alternative repayment plan has

subsequently been agreed between the creditor and the

debtor)

• debiting from a debtor's account other than the account

specifically designated by the debtor (in a contract or

otherwise) for repayment of the credit that is the subject of

the continuous payment authority.

The OFT considers that while it is not unfair or improper for a

creditor or a debt recovery business acting on its behalf to use

continuous payment authority to recover 'recurring repayments' (for

example, repayments of £100 per month, on the first day of the

month, over 10 months, to recover a loan of total cost to the debtor

of £1,000) it is unfair and improper to seek to use it to make

recurring attempts to recover a 'SINGLE repayment' (for example,

making numerous consecutive attempts to recover, in full or in part,

a single repayment of £100 on a loan of total cost to the debtor of

£1,000).

 

Report them to the OFT, Trading Standards. Credit License No. : 0620194

[asmilecostsnothing]

You need to say you dispute the transaction and wasn't aware of it being debited, can they explain why the many transactions were allowedIf you have no joy on the telephone they may try fobbing you of - then put it in writing as a 'COMPLAINT'but I imagine the bank will send a form that you will have to sign and return to them within x amount of days to get your money backBut I would also recommend you retrying to come to some arrangement with Lending Stream because this problem could only get worse and maybe a totally error - again have you tried contacting LS ?? because you need to be prepared for the bank to say this

[gigz87]

Lending stream was just been complete and utter xxxxxx when I rang them said they aint giving me nothing back because they've not recieved a payment off me..

[nortel]

Did they agree a payment plan?

[gigz87]

I emailed them got no reply for months then obviously they took £1019 to be precise so obviously don't need a payment plan now they've screwed me out of alot of money, Im honestly worried because my rent and car insurance comes out Monday and Im £1000 over my overdraft don't know what to do..

[asmilecostsnothing]

I really think you have cause for complaint gigz87 they cannot just take such a high amount and not provide you a breakdown which I'd be demanding, how does a £300.00 loan really grow to over a grand, are they now saying that your fully paid? they must take some responsibility as their not allowed to ignore a debtor and I'm suprised if they hadn't gotten another collector involved by now as the amount suggests this has been sustained over a long timePractical now - got anything you can sell to raise as payment for rent? maybe ask family/friends - please don't take another payday loanTry talking to your landlord, see if you can offer to make a double payment on your next month or set up installments over your tenancy term left for this months payment your going to miss - I could go on being a tenant myself but I don't think this is the place to be advising rent advice - think there maybe another forum on here for this

[gigz87]

Lending Stream said thats intrest they've added so thats why its £1019 its my car insurance im worried about and how im ment to get university for rest of the month

[rebel11]

I would be very tempted to file a small claims court. I don't think the judge would be too impressed with this company.

[sillygirl1]

Go to the police and ask to speak to the money laundering people, and get a crime number, this clearly is a CRIME, they have taken FAR more than the agreed amount... once you have the crime number report it to the OFT.

 

Insist you have this crime number, it is VITALLY important as the bank then have to return the money taken to you.

 

It is the only language the bank and the PDL companies understand, explain that the agreement has ended, you tried to get the company to repay the overtaken amount (the whole money they have taken on the cancelled card), explain that the card was reported as lost to the bank months ago, and yet the company have still gone and taken these funds.

 

If you don't do this you stand no chance of getting your funds back without taking Lending Stream to the small claims court.

[rebel11]

A good post, talking sense. Also make sure you talk to the Fraud Deprtment at the bank.

 

Go to the police and ask to speak to the money laundering people, and get a crime number, this clearly is a CRIME, they have taken FAR more than the agreed amount... once you have the crime number report it to the OFT.

 

Insist you have this crime number, it is VITALLY important as the bank then have to return the money taken to you.

 

It is the only language the bank and the PDL companies understand, explain that the agreement has ended, you tried to get the company to repay the overtaken amount (the whole money they have taken on the cancelled card), explain that the card was reported as lost to the bank months ago, and yet the company have still gone and taken these funds.

 

If you don't do this you stand no chance of getting your funds back without taking Lending Stream to the small claims court.

[Dotty50]

If your rent and car insurance are due to go out on monday, it will be interesting to hear whether your bank let these payments go out as I guess they are both authorised on your account.

 

If payment is refused because you are over your limit then that gives you more evidence to make a claim against the bank IMO, they cannot pick and choose who they pay!

 

What excuse could the bank use for rejecting payment? Not abuse of your overdraft giz as they have already done this themselves!

 

I once had a transaction rejected when using my debit card for shopping, it was because I have reached my OD limit and my salary had been 'lost' by Barclays for a couple of days. I was obviously put out that it was rejected but they acted correctly because the funds weren't there.

 

I fail to see why Lloyds are allowed to get away with this!!

[Boxich]

Hi Guys

Thanks for the replies, some really useful advice. Im still struggling to understand how Lloyds allowed this to happen and im really worried because it means my car finance, car insurance and broadband direct debits cannot be paid. Which will lead to more charges etc.

[Dotty50]

Hi Guys

Thanks for the replies, some really useful advice. Im still struggling to understand how Lloyds allowed this to happen and im really worried because it means my car finance, car insurance and broadband direct debits cannot be paid. Which will lead to more charges etc.

 

Hi Boxwich,

 

Your post reads as though this is your thread when it was in fact started by giz and whilst the topic is the same, it could get confusing in who has done what and what the outcome is so it might be better to start your own thread and put a link on here for people to advise you on your similar problem.

 

If you haven't got an overdraft facility I assume you were planning on putting money into your bank to cover the other payments, this may cause you further misery because your bank will swallow it up to cover there error in making payment to LS. I would be wary of putting any more funds in until this is sorted. Do you have another account that you could use instead?

[Boxich]

Hi Dotty

Sorry for the confusion, I get paid weekly in to this account. However I have had to make alternative arrangements with work until this is sorted, as I cannot afford for the whole amount to be swallowed up by the bank.

[asmilecostsnothing]

@ Karen - please stop suggesting people call

Your also a first time poster...which probably also means a wind up merchant I've come to the conclusion

 

I'd love to know how you got through because their lines have been blocked all afternoon actually - even the new loans line confirm this ! his name being Gary...!

If people would like to email - the company seem to have set this address up in addition. [email protected]

Edited November 4, 2011 by asmilecostsnothing

[dx100uk]

DO A CHARGEBACK

 

and demand it

keep going up the chsin of command at the bank

UNTIL YOU GET IT

 

VERY few bsnks understand the chargeback scheme

 

and just fob people off with excuses oh it taske 15 days 30 days etc etc

 

IT DOES NOT!!!

 

it can be done in 2mins upto 120days after the transaction.

 

DEMAND IT and DONT take NO for an answer!!

 

http://whatconsumer.co.uk/visa-debit-chargeback/

 

refund FIRST investigate AFTER

 

dx

[autumnique]

all the above has happened to me lending stream taking money from lloyds tsb on a cancelled card.however lending stream now have an apology notice up on their website and have employed extra staff to try and rectify all the people they have wrongly taken money off.good luck