DMP Mutual Support Thread - Part 12

sourcrates

henrryyyy wrote: »

One thing that worries me about the court thing, is that "if" it does happen and they get awarded in their favour, do you not have to pay legal costs and court fees?

You do yes, but normally, unless you have a very large debt, costs are only a few hundred or so.

Always best avoiding it if you can, my point was, it isn't the end of the kind of stuff creditors may have you believe !!

vaper

The only thing that worries me about Ccj's is if it becomes common knowledge, other people knowing that I haven't paid my debts back worries me. Although I am becoming less and less bothered every day
Also if I did lose a court case and the other side were awarded costs. The rules would still be the same "they can't have what you haven't got".

sourcrates

vaper wrote: »

The only thing that worries me about Ccj's is if it becomes common knowledge, other people knowing that I haven't paid my debts back worries me. Although I am becoming less and less bothered every day
Also if I did lose a court case and the other side were awarded costs. The rules would still be the same "they can't have what you haven't got".

It's not like a criminal case, the costs are outlined in the notice of claim that you are sent beforehand, never amounts to very much, only the cost of bringing the case to court, and the solicitors fee, plus any interest dependant on the type of debt.

If your repaying your debts via a DMP it's extreamly unlikely to ever get to court anyway, there would be no point to it, and a waste of time and money to the creditor.

acee

Really need some help here I'm on a DMP, Lending Stream have passed it onto CRS to manage, however ive also sent letters about irresponsible lending to claim interest etc back this is what Lending Stream have come back with:


We write in reference to your recent correspondence.

We would like to share our findings, you borrowed 16 loans from Lending Stream, out of which one loan is outstanding.

Affordability Check:

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 564 – 768; which factored into our proprietary underwriting and deemed acceptable
• At the time of applications, You were full-time employed
• Your monthly income at the time of applications was ranging from £1070.00 - £1800.00
• We could observe a sufficient disposable income, which denoted that repayments towards the loans can be made without any financial difficulties

Rollover:

We would also like you to note that a “Rollover” is an option provided by some lenders where a customer is allowed to delay paying back a loan on the payment of additional fees. Currently, Lending Stream does not offer this option; hence, we confirm that the FCA regulation on “Rollover” Loans is not applicable to us.

Credit file/Data Validation:

When a customer requests for a credit report from a Credit Reference Agency, he 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).

Financial Difficulties:

Our constant message to customers whose circumstances change, or who experience hardship, is to speak to us and we will work something out together. Upon reviewing your accounts, we found that the required assistance was offered, when, we were informed about the change in your circumstances.

Resolution:

In lieu of the overall situation, we confirm that the affordability checks were performed with due consideration while approving your loans.

With the above being said, we are ready to extend our support in clearing the debt and offer to waive all the interest and charges (£403.08) incurred on the outstanding loan (3448245) and are ready to accept the remaining principal balance (Borrowed amount – Paid amount). The remaining balance on the loan would be £630.00.

We find it worth mentioning that the stated settlement amount (£630.00) can be paid in a full one time payment or in an affordable payment arrangement.

Should you wish to re-schedule the payment arrangement, please note:

• We are required to report the status of your loans to credit bureaus on a regular basis
• Your decision to re-schedule the Payment Arrangement will reflect in your Credit Report
• If you fail to make a payment, we may transfer your account to a Debt Collection Agency for servicing

We would request you to help us with the following details for us to be able to setup the payment plan.

• Amount you would like to pay every month/week
• Date(s) on which transactions should be processed
• Preferred mode of payment

Please send us a confirmation of the aforementioned offer so that the required changes can be made.

For further queries, please email us at [email]info@!!!!!!!!!!!!!.co.uk[/email] or call us on 0203 365 0138 (Monday to Friday between 7 am to 10 pm). Call charges apply.

Regards,
Lending Stream Customer Service
[FONT=Arial, sans-serif][/FONT]


They say my wage was between £1070.00 - £1800.00 which is incorrect its been at £1070 for a few years ive never been on £1800 in a month in my life. The credit rating is false too because it hasn't been that high for about 8 years.

henrryyyy

what period of time were the 18 loans taken out on?

acee

Henry the loans were taken out between 15/01/2016and 17/05/2017 sometimes I took more than 1 loan a month out with them as they were emailing me offering more money.


Also their offer is incorrect as the company managing my debt have confirmed the final amount due is £922 so if they waived the £403.08 the remaining amount would be £518.92 not £630. They've got a lot of things wrong in their reply just need some advice on my next step.

sourcrates

Guys,

Can we keep this thread DMP related please.

There is a dedicated thread for payday loan reclaiming.

Thanks

acee

Sorry sourcrates its a mixture of both though so wasn't sure which to put it on, please accept my apologies.

sourcrates

No worries !!

Sazzie23

carbootcrazy wrote: »

You certainly are up early:eek:. I'm not far behind you this morning , I was awake at 4.45 and I'm already on my second cup of tea of the day:rotfl: I'm not really worrying any more than usual about debts this early but the cat came in with a bird he'd caught at first light and let it go in the kitchen. The flying around and crashing noises woke me up:mad:. Bird now released and looked unharmed as it flew away but cat is in disgrace and has been temporarily shut in the dining room. No morning cuddle for him today.


I hope your debts aren't causing you to worry unduly or because of any unexpected turn of events. Keep smiling:coffee:

Debtfreehopeful wrote: »

Thanks Saz, I feel a bit better now! As I'm still in the early stages of my DMP I still feel a bit on edge with things x

Hi all

Thanks for concerns. I thinks it's fear of the unknown that causes anxiety, my worries are life ones (where I'm going, what I'm doing), rather than about my DMP though it does come into it a bit as I'd like less DMP in my life really.

There's been a bit about court action recently, I just want to reassure people it is very rare if you are in a DMP so don't freak out. If you are one of the DMP hard-ball players then the risk of action is very slightly increased but even then, it's really really rare to end up with anything more than a default which is what we all mostly want.

Have a great day all (managed 5am today)

Saz