Student loans and pensions

Delete33

Hi louise. Complete forms for the FOS and tell PDL you have escalated your complaint to the FOS, they could still make you a offer while the FO is looking at your complaint.:cool:

Ginger.ice

Fergie42 wrote: »

Well Lending Stream came back very quickly with a big 'no' but seems fair enough really as they did run credit checks back in 2010 and my score was a lot better than it is now.
Lets see how we get on with the other 13 lenders!!

Don't just take Lending Stream's decision. Escalate it to the FOS. If they only did one credit check and then continued to lend to you for a prolonged period they are not doing a very robust job.

Bear04

I have four complaints in with PDLs at the moment and Lending Stream have offered to remove the interest on both my loans that are on my DMP leaving me with only the original loan amounts to pay back.
This will lower the balance on these two accounts by £300 in total.
They have not offered any refund for the first loan I had and paid off.
Not sure whether to accept this offer or reply to them trying to get the interest back on the first loan I had and fully repaid as well.
This offer has come only 10 days after submitting my complaint.


Any thoughts?

Fergie42

Ginger.ice wrote: »

Don't just take Lending Stream's decision. Escalate it to the FOS. If they only did one credit check and then continued to lend to you for a prolonged period they are not doing a very robust job.

Yes you are absolutely right...thanks


Nothing to lose and everything to gain so I'm not letting it drop!

excited_to_be_free

Fergie42 wrote: »

Yes you are absolutely right...thanks


Nothing to lose and everything to gain so I'm not letting it drop!

I did the same and just waiting now.

redfragglebiker

I rejected Lending Streams first email which said they had done all the necessary checks etc and pointed out that I had several loans with other lenders at the time and that this should have been picked up on my credit report. They then came back offering me £303 as a refund ( I think I calculated my interest and fees at around £400 but they calculated it from when I told them I was in difficulty a few weeks later) and to write off any existing balances (around £180) They will not issue a correction on my credit file but will show it as satisfied from the date that I reported financial difficulty (back in 2011) so I'm going to accept.

Reject the first email but unless they've said it's a full and final response I would go back to Lending stream first and state why you dispute their decision. It's what I did and it was much quicker than going via FOS.

Good luck guys!

justinsrival

Had a disappointing response from the FOS regarding my Lending Stream case.

Because I didn't have any defaults they said that the lender was justified to lend me what they did. They mentioned about me borrowing from other payday loans but they said because I paid them all back I could afford them.

I listed out my expenditure again, attached another credit report and stated the lender would have been able to view my monthly commitments on the report and see I was overdrawn as well.

I have replied with further information that I had already borrowed £2300 in the 3 months previous to borrowing from Lending Stream, and £740 of that was just two weeks before with Ladder Loans!

hopefully they'll reconsider.

redfragglebiker

justinsrival wrote: »

Had a disappointing response from the FOS regarding my Lending Stream case.

Because I didn't have any defaults they said that the lender was justified to lend me what they did. They mentioned about me borrowing from other payday loans but they said because I paid them all back I could afford them.

I listed out my expenditure again, attached another credit report and stated the lender would have been able to view my monthly commitments on the report and see I was overdrawn as well.

I have replied with further information that I had already borrowed £2300 in the 3 months previous to borrowing from Lending Stream, and £740 of that was just two weeks before with Ladder Loans!

hopefully they'll reconsider.

You've done exactly the right thing. Someone on the debtcamel forum had something similar and the FOS upheld the complaint after the extra info was provided to them.

Good luck.

justinsrival

redfragglebiker wrote: »

You've done exactly the right thing. Someone on the debtcamel forum had something similar and the FOS upheld the complaint after the extra info was provided to them.

Good luck.

Thank you! I'll keep everybody updated. I got a response form them confirming that an ombudsman will review my complaint.

I didn't realise there was an adjudicator and then an ombudsman after that decision!

Fergie42

redfragglebiker wrote: »

I rejected Lending Streams first email which said they had done all the necessary checks etc and pointed out that I had several loans with other lenders at the time and that this should have been picked up on my credit report. They then came back offering me £303 as a refund ( I think I calculated my interest and fees at around £400 but they calculated it from when I told them I was in difficulty a few weeks later) and to write off any existing balances (around £180) They will not issue a correction on my credit file but will show it as satisfied from the date that I reported financial difficulty (back in 2011) so I'm going to accept.

Reject the first email but unless they've said it's a full and final response I would go back to Lending stream first and state why you dispute their decision. It's what I did and it was much quicker than going via FOS.

Good luck guys!

Thanks so much. I have re-sent an email now stressing my situation and the fact I will be going to the FOS so fingers crossed as I too sent them a letter stating financial difficulty which they initially ignored