Default Notice Lending Stream

[Joannebrown1982]

Hi,

I have currently 4 outstanding PDLoans with various companies,

 

 

I have stopped paying them,

changed my back account etc.

 

 

Am currently in the process of trying to set up payment arrangements with the companies without much success at the moment.

 

 

One company in particular Lending Stream is very hard to get hold of via e-mail and are ignoring any contact I make.

 

 

I got home yesterday to a letter informing me of a default notice and that if I don't pay in 14 days they will go further to get the full amount off me i.e. take me to court.

 

 

I telephoned them and got a woman I could barely understand

all she was interested in was whether I could pay the full amount off, I said no,

 

 

I am wanting to make an arrangement with them as I can't pay the balance and won't be able to pay that sort of money within the next 14 days or even within a couple of months.

 

 

She tried to put me through to someone else without much luck and said someone would phone me back today - which they haven't.

They have informed me that they will keep adding interest until this is paid.

 

 

I am worried that they are going to take me to court and I will get even more added on to the loan and I will never be able to pay it off.

 

 

Although I work, I am a lone parent and have very little left over at the end of the month as it is.

 

 

I have tried e-mailing them again this morning,

only for the e-mail to bounce back as undelivered.

 

 

I don't know what to do,

am worried also incase baliffs come round.

 

 

I really don't want to phone them back as I would rather they e-mail me as I want everything in writing and hate going to the phone to them as they are awful!

[manontheweb]

I have no professional expertise but in my experience over the last few years of being in debt to around 10 payday loan companies only 1 has ever taken me to court. And you don't actually go to court anyway, its all done via the post, you get sent a letter asking if you accept that you owe the money and asking for your budget, they then make a judgement and say you have to repay x amount per month, which in my case was £10.77 for around £400 debt

 

Hope this might make you feel less worried, someone else can explain in more detail.

 

Anyway if you are trying to start repayment plans you also need to get a new bank account or report your card lost/stolen so that they dont have access to your details, cos although most say they won't, they will take money out of your account when you not expecting it.

[Joannebrown1982]

Thanks for that, that makes me feel a whole lot better. So basically it sounds like they are doing scare tactics.I have already changed my bank account and reported by other card as lost so got a new one as owe an overdraft on that account, been checking online banking and thankfully nothing has been took out. Changed my bank account straight away as didn't want to leave anything to chance.

[26072004]

You can still stop it getting to court, work out how much you can afford.

 

Email them and ask for their bank details so you can make payment, if they dont reply im sure someone here can supply them.

 

Make this payment every month/week, if they still want to take it to court you can defend the action and state you are alreday paying them as much as you can afford.

 

Dont just sit back and accept it, thats just what they want you to do.

[renegadeimp]

Never assume that they will NOT take you to court. If they get any kind of feeling that they would be able to obtain judgement by default, they will issue proceedings against you, although 99% of the time they backoff IF you put in a defence against them. The best way to deal with these companies is to play by the ball and make sure you follow guidelines and stay within regulation and law. It will be frustrating but it works.

 

From now on, stay off the phone to them. They will say ANYTHING to threaten you or force you into agreeing repayments with them that you wont be able to keep. Only communicate with them in email or snail mail so you have full written evidence should the worst happen.

 

I notice you said you cancelled the card. Thats a good start, but you need to make sure you cancel any CPA's (Continuous Payment Authorities) that the lender has placed on your account. These CPA's allow them to debit as much as they want and at any time or frequency. Some banks will even let them run up a massive overdraft on your behalf.

 

Now here's something to ease your mind. Bailiffs wont become involved for a very long time, if ever.

 

For a bailiff to come to you, the lender would have needed to issues court proceedings, won and gained a judgement, you would then need to have defaulted on that judgement, the debt then sent back to court and then the court ordering enforcement action. Please also note, that use of bailiffs is usually done as a last resort after other options have failed.

 

Should they take you to court, all you would need to do is show the court the repayments you can realistically make. Even if thats £1 a month. The court officer ( not a judge) would then check everything and in some cases it has bee known for them to lower the debt substantially if there is no realistic possibility of paying off the debt in the near future.

 

Again, bailiffs are a very long way off. If they write to you and indeed threaten bailiffs, let us know and we can help you file a complaint to the lender and the OFT.

[Joannebrown1982]

Thats great advice thank you so much. Does anybody happen to have a valid email address for lending stream? If not, I will await the next letter and post a letter to them requesting the bank information. Much appreciated

[PDLVictim]

Hi Joannebrown1982,

 

Don't waste money on a stamp, no letter needed

 

Here are some of their email addresses:

[email protected]

[email protected]

[email protected]

 

Their bank account details are:

Sort code: 20-19-90

Account number: 13434028

When making payments to this account state your 6-digit agreement numbers

 

They do repayment plans over 12-18 months

[Joannebrown1982]

Thats fantastic - thankyou so much. My first e-mail is winging its way to them as we speak! Can I make that payment at any bank then do you know please?

[renegadeimp]

FInd out which bank it is, and pay in any of their branches. You can also set up a standing order from your own account and pay it that way.