Help pleassssssse :(

Sioonoo

So I recently contacted step change for help which they agreed to do and as part of the DMP I had to contact all my creditors to tell them and let them know and most of them froze the account for 30 days and said (we will wait for stepchange to contact us)

With lending stream the response was

"we dont deal with stepchange, tell the to contact our debt collection agency (insert name here and lots of other intimidating jargon" so I said nonono that's fine I'll lend the money off a family member and pay off the loan in full on the repayment date (29th) I said don't pass my account to collections (I hadnt missed a payment so they shouldn't anyway) and I want to log a complaint - because I felt that the way they responded to how I mentioned step change was out of order"

The following day I receive an email "thanks for advising us about step change your account has been put on hold for 30 days etc etc" so I contact them go through to the collections department and explain that I was paying in full on the 29th and I didn't want my account passed to collections (she told me not to worry and if i was paying in full it wouldn't be an issue" so the 29th came and I paid in full I received all the emails "Thanks your loan has been repaid in full etc etc - money had left my account"

Today I check my account and lending stream had paid the money back in to my bank account- reopened my account - and interest had started accruing again - when I phoned up to ask why the advisor said "Oh you were in financial difficulty so we decided to pay you the money back"

can they do this? I mean seems a little bit ridiculous to me - let's reopen his account against his will and start charging interest again - they also stated the payment was late when in fact it was paid in full on the 29th so I've got a late payment for this account (not that it matters as my credit file is essentialy ruined from the DMP"

I've complained to the BCCA (who they claimed to be a member of)
I've complained to them and as soon as I get my final response letter I'll be going to the FOS and seeking compensation.

I just wanna know have they breached any rules? and if yes - can I report them to anyone else? my biggest regret was dealing with lending stream....... scum of the earth and cowboy lenders

Thanks

sourcrates

Hi,


You seem to have fallen foul of affordability rules.


As you told the lender you were in financial difficulties, they have a duty to treat you fairly, and on this occasion decided to refund the payment to you.


Yes it sounds ridicules, and to be charging interest again as well, doesn't make any sense.


Written complaint is the way to go, and as you say, FOS if necessary.

Sioonoo

Okay thanks - I know it's my fault regarding taking out loans but I paid the loan back so i didnt have to deal with them and then they refunded me my money and then started charging interest again

Sazzie23

Sioonoo wrote: »

Okay thanks - I know it's my fault regarding taking out loans but I paid the loan back so i didnt have to deal with them and then they refunded me my money and then started charging interest again

I think if they hadn't started charging interest again it would have been an ok thing to do, but to charge interest when they've admitted you have financial difficulty is carp, if FoS don't uphold the complaint I think I'd be writing to my MP for what it's worth.

Saz