Lending stream taking money without my consent?

projectsome

Ok,

So I took out one of those short term loans several months ago and have so far not had any problems making payments. The contract I agreed to (digitally signed) said payment would be taken on a specific date ie the 30th.

Having checked my last statement, additional funds were taken from my account on the 10th (the dispute team at my bank says these were debited on the 5th and 6th (gave me the authorisation codes for each transaction)

Now having phoned said loan company, they're spouting crap about these payments being June and August respectivaly but due to problems with the merchants (whatever the fark that is) they're telling me my bank made the payments in June/August and are only showing up now. Which personally I think they're talking crap as the payment schedule for June is strangely not available


Now I'm pretty sure I'm right in thinking that A) They're in breach of our contract/agreement? and I would have a legal case for damages as my account being debited has left my account overdrawn and I'm being charged daily fees.

Clive_Woody

Has money been taken from your account every month as per the agreement? If not did you query why not at the time when the money was still in your bank account?

projectsome

Clive_Woody wrote: »

Has money been taken from your account every month as per the agreement? If not did you query why not at the time when the money was still in your bank account?

As far as I'm aware all monies were taken on a monthly basis (I have more than one loan on the account so make several payments)

Financially all the payments have added up each month.

Tixy

You could write to ask them to provide a full statement of account for the loan, then you can check for certain if these were additional payments or payments taken late.

If they say they cannot provide you with a full statement of account from the start of the loan then you can request it under the data protection act by sending a subject access request.

projectsome

Tixy wrote: »

You could write to ask them to provide a full statement of account for the loan, then you can check for certain if these were additional payments or payments taken late.

If they say they cannot provide you with a full statement of account from the start of the loan then you can request it under the data protection act by sending a subject access request.

Yeah I'll do that and see if everything matches up

Buzby

No breach of contract as your repayments do not form an part of this, other than your requirement to pay. Assuming the amounts are fixed and for a set period (say 28 instalments) you should use an SO - which you control. This stipulates the number of payments and the date the leave your account.

A DD provides too much flexibility as it will be for any amount, taken a any time for as often as they want.

rizla_king

Debiting you account on dates that are not agreed in the credit agreement without warning, or your prior informed consent, are breaches of the CCTA code of conduct and OFT guidelines. lending stream has agreed to be bound by those guidelines, so you have a legitimate complaint and argument for redress. Take it to the FOS if you get nowhere with lending stream.

TheMoney

I'm assuming the payments are leaving from your debit card, therefore they are CPA's. Card payments can be claimed by a merchant anytime up to 6 years after authorisation, so what they say is definitely plausible. Contact your bank and request a copy of the receipt for each transactions. The receipt itself will be the merchants copy and will show the exact time and date the transaction was originally made.

projectsome

TheMoney wrote: »

I'm assuming the payments are leaving from your debit card, therefore they are CPA's. Card payments can be claimed by a merchant anytime up to 6 years after authorisation, so what they say is definitely plausible. Contact your bank and request a copy of the receipt for each transactions. The receipt itself will be the merchants copy and will show the exact time and date the transaction was originally made.

I have the receipts as such. The dispute team at my bank gave me the authorisation codes for both transactions.

I'll be sending them a letter today

TheMoney

Really all you need here is what you already have. The dates given by your bank for the 'transaction date' are almost certainly correct. If these match what lending stream have told you, everything is fine, if not then yes proceed with a complaint. Did you have your debit card cancelled recently as a lost/stolen card? That generally would cause the issue you have described.

Jackmahone

I have had a similar problem but I paid off my loan on August and was given a figure £149.50 they took another £34.50 saying this was a payment due in July even though the figure they have me in August was full and final amount. I had no communication of the technical error. And now refuse to consider a refund. The error was clearly there's can they do this once loan paid??