Lump Sum to pay debts whats best way to offer to creditors?

sourcrates

winksharry wrote: »

Just realised it has been 15 working days (sent on the 6th) since i sent Barclays my cca request

Not heard a thing, what is my next step here please?

thanks again in advance

It's awaiting game unfortunatly, give it a month, then send a reminder, the 14 days are just guidelines, can normally take up to a couple of months.

winksharry

thanks again sour will do

winksharry

Two bits of new one bad (or annoying) and one good (ish)

First things first, got a reply from Barclays today basically saying i need to sign the letter and return it for them to action it (i did not sign i printed my name on the letter (on pc).

Is this correct? I am sure i have read not to sign cca request letters? Could somebody clarify that?

Will post the better news later

Thanks again all

sourcrates

winksharry wrote: »

Two bits of new one bad (or annoying) and one good (ish)

First things first, got a reply from Barclays today basically saying i need to sign the letter and return it for them to action it (i did not sign i printed my name on the letter (on pc).

Is this correct? I am sure i have read not to sign cca request letters? Could somebody clarify that?

Will post the better news later

Thanks again all

There is no requirement for you to sign a CCA request, but it may be easier, and quicker, if you do.

winksharry

ok thanks Sour will send it back signed then!

thanks again

winksharry

Right here is the second piece of news good news as well a final reply from LENDING STREAM

Dear Mxxxxxx

This is in reference to your previous correspondence.

We have reviewed your accounts and would like to share our findings. You have borrowed two loans from Lending Stream. A summary of these accounts is provided below:

loan id
Loan Status
Borrowed Date
Borrowed Amount
Closed Date
Outstanding Balance
xxxx
SOLD
06 February 2012
£135.00
Not Closed
£368.00
xxxx


SOLD
11 February 2012
£135.00
Not Closed
£371.00

Note – The outstanding balance mentioned above may vary as these loans have been transferred (with title and interest) to Mackenzie Hall (loan id xxxxxx) and Motormile Finance Ltd (loan id xxxxxx).

Affordability Checks:

We confirm that an affordability analysis is conducted for all customers (existing or new) and on each loan application. Our advanced analytics and underwriting processes review the information provided by the customer, all public information, and details held by Credit Reference Agencies before making a decision.

• Your Experian score was ranging between xxxxx. This was factored into our proprietary underwriting and deemed acceptable
• At the time of each application, you were employed full-time
• Your monthly income was ranging between £xxxx - £xxxx
• We could observe a disposable income ranging between £xxx - £xxx which denoted that repayments towards the loans could be made without any difficulties
• You were approved only for the amount you were eligible for
• Once you informed us about your financial difficulties in April 2012, we did not approve you for further loans. Although, we received additional applications, they were declined as they did not meet our lending criteria. The last application was declined in April 2015

Loan ID
Monthly Income
Monthly Expenditure
Disposable Income
Experian Score
Employment Type
xxxx
xx
£xx
£xx
xx
Full Time
xxxx
xx
£xx
£xx
xx
Full Time

Credit file/Data Validation:

When a customer requests for a credit report from a Credit Reference Agency, he or she may acquire specific information including names of different lenders’ and their respective reporting, however, when a financial institution does a credit search on a customer’s credit report, they are not privy to that exact information. Hence, our decision to lend money does in part rely on the information received from Experian (credit scores).

We would also like to mention that we expect our customers to include any current obligations due to be paid while filling the expenditure details to ensure a fair assessment of their disposable income and ability to make repayments.Data shared in your applications indicated that your income well-exceeded your monthly expenditure.

In lieu of the overall situation, we believe Lending Stream has behaved responsibly in approving your loans and dealing with them fairly.

Resolution:

Having stated the above, we have a duty to behave in a compassionate and reasonable manner as you had informed us that you are in financial difficulties in April 2012. Therefore, we request you to pay back only the original borrowed amount.

For clarification, please refer to the below mentioned table:

Loan ID
Borrowed Amount
Amount Paid
Closure Amount
xxxx
£135.00
£43.50
£91.50
xxx
£135.00
£40.50
£94.50

You can either make a one off payment of the above mentioned amounts (£91.50 and £94.50) or you can set up a payment arrangement to clear the debt in affordable repayments.

If the above mentioned offer is acceptable, please send a confirmation to us that we can make the necessary changes in our system.

For further queries, please email at [EMAIL="complaints@!!!!!!!!!!!!!.co.uk"]complaints@!!!!!!!!!!!!!.co.uk[/EMAIL] or call on 0203 564 7034[IMG]resource://skype_ff_extension-at-jetpack/skype_ff_extension/data/call_skype_logo.png[/IMG]0203 564 7034[IMG]resource://skype_ff_extension-at-jetpack/skype_ff_extension/data/call_skype_logo.png[/IMG]0203 564 7034[IMG]resource://skype_ff_extension-at-jetpack/skype_ff_extension/data/call_skype_logo.png[/IMG]0203 564 7034 (Monday to Friday between 8 am to 8 pm). Call charges apply.

Regards,
Lending Stream Complaints Department


This is a big turnaround from the first email response told me to just contact the two debt collectors who have the debts now..

What would you suggest my next step is here?

Thanks again i feel really really good about this now certainly compared to when i started the thread

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winksharry

Guess what i am asking is

Should i accept their offer of just paying the original amount minus what i have already paid?

Is the fact they have already offered this an admission i could get more/the rest cleared?

I am also confused if i pay them direct i should stop making my nominal payments to the two "owners" of the debt now?

thanks

winksharry

any ideas? i dont want to ignore the email much longer

thanks again in advance

sourcrates

winksharry wrote: »

any ideas? i dont want to ignore the email much longer

thanks again in advance

If your happy with the offer, give them a quick ring,(lending stream) and ask them how it will work with the DCA's if you settle direct with them.
From my experience there customer service isn't too bad.

winksharry

thanks sour

I appreciate it is difficult to advise perhaps but do you think i should be happy accepting the offer?

thanks