Lending Stream?

HannahCF

I am wondering if you can help me. My brother took out 2 pay day loans with Lending Stream. The first one was for £468 and he paid that back and the second one was for £126.72. He went to the bank and told the lady to pay it through banking. She did so as a "Faster Payment". He thought great and left. On that day he rang lending stream and they said it takes 24 hours to go through and to call back. So he called back and they said they still havent receieved it. He said the lady at the bank had done it as a faster payment so it should be with you now.

They kept passing me around and over the months have been telling me how he owes them more money due to interest rates and he refused to pay as he had already paid the money that was owed. Now he's not the best with finances and things so I had a look and saw that the bank clerk did send the payment to Lending Stream but it had somehow bounced back as a "correction". I'm not sure how this has happened to be honest because it worked when it was for the big payment but now because its just £126 they somehow cant take it and are wacking charges on him?! I feel like, they purposely sent it back to his account so they can get more interest off him. He is in a terrible mess and has proof via bank statement that the payment did leave, and then came straight back. Trying to get in touch with Lending Stream is like trying to get blood out of a stone, is there anything you can do to help me please?

Thanks in advance

[Deleted User]

Provide them with evidence of the payment and see if they can match it to their systems. It may not have been sent correctly - eg perhaps the account number was wrong.

They didn't deliberately send it back though.

HannahCF

Deleted_User wrote: »

Provide them with evidence of the payment and see if they can match it to their systems. It may not have been sent correctly - eg perhaps the account number was wrong.

They didn't deliberately send it back though.

Thanks for replying. They took the £468 via debit transaction, but for the small amount it went out as FPO then came back as a COR. The £126 left his account and he had more than enough funds for it to leave the account so I cant see it would be anything to do with the bank.. I'm just a bit confused when the lady at the desk said it had cleared and been sent.

[Deleted User]

Being sent isn't the same as it being received though. I'd check the details that the bank used. An error in the sort code or account number would cause it to bounce back.

National_Debtline

Deleted_User wrote: »

Being sent isn't the same as it being received though. I'd check the details that the bank used. An error in the sort code or account number would cause it to bounce back.

Indeed. Hannah - if it transpires that the bank allocated the payment to an incorrect account number through their fault rather than your brother's, I'd be looking at complaining to the bank with a view to getting recompensed for any charges added by Lending Stream when the initial payment failed to complete.


Dennis
@natdebtline

HannahCF

Thanks for your replies. Here is the copy of the complaint and all the details that I have been able to get since original post.

I tried to pay online twice via my online account but it wouldnt go through. I tried the next day and it still wouldnt go through so I rang up and explained. They asked if I was putting in the right details to which I replied, yes, you accepted payment of my first loan of £468 but your not accepting this one. All I want to do is clear my balance. They said to leave it another 24 hours and I said no I want to pay it now, I have the money to clear the debt. I tried again and again, it didnt work. So I called back and asked to speak to a manager about trying to make payment. She told me that I have to go into the bank and do it via bank transfer and kept fobbing me off with different stories. I said that I keep trying to pay but there is something on your end that keeps blocking it.

2 days later, the money still hadnt left my account so I called them up again and explained that I am trying to clear the debt but it wasnt leaving my account, something on their end kept blocking it. A lady put us through to the payment department and we asked them what the account number and sort code was, I read them back and she said it was correct. So I went to the bank to do the bank transfer but it didnt work so called them back again and the lady on the phone said it was the wrong number. I explained that it was the same number she just gave me and confirmed that it was correct so how can it be wrong? She then gave me a new number and said to try this as they have lots of accounts. So I went back to the bank and it went through. The bank clerk said that it had gone through and that was that.

A week later, I get an email to say they havent received the payment and the money owed has now gone up due to interest. I phoned them back and they said the money wasnt received so its gone up to due to interest. Then I find out that they had given me the wrong account number AGAIN. I have just had enough now, I am getting passed around from pillar to post, given wrong information and all I want to do is pay off my original debt of £126.72!

jonesMUFCforever

You stated sort code and account number but did you quote the loan reference number on the payment?

HannahCF

Sorry yes, he included the reference number.