Complaint auto-rejected due to GPDR rules

prestonlady86

Hi all,

Has anyone had any experience of not being able to make a complaint about a mis-sold loan due to them not holding your data after 6 years?

I made a lengthy complaint to Lending Stream last week regarding 7 payday loans that I strongly believe were mis-sold to me in 2013. I wrote to them explaining that they were unaffordable I.e. I was in high debt at the time, credit report shot to pieces at the time of applying, borrowing Peter to pay Paul, them giving me access to even more loans and increases my credit allowance with them days after taking out other loans with them that I hadn't paid back.

I also complained that I wasn't treated fairly during their recovery action. Excessive interest and fees (outside of recommended caps), not dealt with sympathetically by them and their 3rd parties (ACI & TM Legal) i.e. repeated and constant, aggressive and threatening calls and emails.

I sent them all evidence I had including loan agreements, who they sold it to and when along with examples of the communications that I received from both them and TM Legal.

I also told them that TM Legal lied and misled me on several things such as saying I had a CCJ when I didn't and that CPA was the only way I could repay them.

Lending Stream replied to say that due to GDPR they no longer hold my information so cannot proceed with my complaint as they have no information on me to investigate with.

Now, I get they might not have a record of what they saw on my credit record at the time but I provided them with evidence of various other elements which they have just ignored. Plus they work alongside TM Legal who are calling me daily threatening litigation if I don't continue paying - I don't get how they don't have enough evidence to listen to my complaint, but have enough to potentially take me to court through a 3rd party?

So far I have paid back £1450 on a £950 amount borrowed and TM Legal are still chasing me for a further £750. I'm really struggling and just want them to call it quits and leave me alone.

Any advice please?

Thanks

MorningcoffeeIV

prestonlady86 said:

Has anyone had any experience of not being able to make a complaint about a mis-sold loan due to them not holding your data after 6 years?

Lots of people, but that's not important right now.

You need to break down your complaint so that you can pursue any parts where evidence may still exist. It seems that it's really now just a complaint about how they communicated with you, which may result in a goodwill payment if you're lucky, but not mis-selling.

in_need_of_direction

i would ask for a copy of their data retention schedule.  the 6 year retention period is typically after something becomes dormant or no longer relevant

prestonlady86

MorningcoffeeIV said:

prestonlady86 said:

Has anyone had any experience of not being able to make a complaint about a mis-sold loan due to them not holding your data after 6 years?

Lots of people, but that's not important right now.

You need to break down your complaint so that you can pursue any parts where evidence may still exist. It seems that it's really now just a complaint about how they communicated with you, which may result in a goodwill payment if you're lucky, but not mis-selling.

Thanks for that. I did break it all down in the actual complaint so they have it all. Apart from their behaviour, do you not think I would have a case based on the extra charges and daily interest I was charged? If I provide them with the evidence that is. All in all, if I pay the remaining back they'll basically have received £2200 on a £950 loan.

I'm also not sure where I stand with TM Legal, they obviously provided me false information on numerous occasions to trick me into paying. Do I need to make a separate complaint to them? I thought it would have been lending stream I complained to as TM Legal keep referring to their "client" in the communications, saying they are acting on behalf of them etc.

Thank you

prestonlady86

Oh, and after being approved for a set credit limit of £200 on day 1 they offered to double it (by advertising this to me in email) just a matter of days later after I made just 1 £51 repayment on the initial amount. I accepted this and took the remaining £800 (in increments across 6 loans). I don't believe they did any additional affordability checks between offering loan 1 and 2. My circumstances hadn't changed and infact they'd have been worse.

I have the payment schedule of this (originally sent to me from them) so can evidence the pattern of what I believe is irresponsible lending to someone clearly struggling.

MorningcoffeeIV

prestonlady86 said:

MorningcoffeeIV said:

prestonlady86 said:

Has anyone had any experience of not being able to make a complaint about a mis-sold loan due to them not holding your data after 6 years?

Lots of people, but that's not important right now.

You need to break down your complaint so that you can pursue any parts where evidence may still exist. It seems that it's really now just a complaint about how they communicated with you, which may result in a goodwill payment if you're lucky, but not mis-selling.

Apart from their behaviour, do you not think I would have a case based on the extra charges and daily interest I was charged? If I provide them with the evidence that is. All in all, if I pay the remaining back they'll basically have received £2200 on a £950 loan.

What are the "extra charges and daily interest".  All loans have daily interest.

Are you saying they charged more than the documentation stated? Do you have the figures?

£2,200 on a £950 loan could well be right, as the loans pre-date the price cap.

vampirotoothus

Hi I would email the FCA and ask how this should be handled. They will have issued guidelines to all the lenders about this.

prestonlady86

Great, thanks both.

Yeah you're probably right about the charges being pre price cap morningcoffee. I guess it's futile disputing.