Lending Stream now Lantern

[adam1992]

I think I'm in the right place I apologise if not.

I used to live at another address the other side of the  country

 

have received two signed for letters I've been told,

I can't get up there instantly,

it will be later in the week but I'm terrified after some thought that these are summons/ccj proceedings for Lending Stream.

As it's the only finance thing I can think of..

Allow me to explain.

 

A few years ago I got into a system of taking pay day loans one after the other from lending Stream, I have changed my ways since then but have completely forgotten about these, they were linked to an old email that I can't get in any more as it's been destroyed. I've since managed to login to the account and see the remaining loans on the system.

 

Initially as I had got myself into the situation I spoke to the CAB about it to prevent Default. We kept going back and forth between Lending Stream &  Credit Resource Solutions  which I have a few copies of the emails. CRS if I recall correctly never responded to the CAB and I even contacted Lending Stream about this to no avail. I think I also have a few emails where I offered to make repayment of a £1, they refused this saying as their terms, 24 months was the only agreement they could make which would start at £12 or something. 

 

March 21 2015 - 15 September 2015 - £200 PAID £387.52 Complete

August 2015 - 23 Feb 2016 - £100  - PAID £152.40 Complete

 

At the time I was robbing Peter to pay Paul so to speak and the following defaulted:

 

9th September 2015 - 21st March 2016 Opened £300 Total To Pay £600 -

I paid £103.2 (October 15) £64.80 (October 15), £154.08 (December15), £2 (April 2016) - Total Repaid £324.08

14th October 2015  - 22nd April 2016 - Opened £120 - Total To Pay £240 -

I paid £39.36 (November 15), £45.12 (December 15), (£2 April 16) - Total Repaid £86.48

06 December 2015 -23rd May 2016-  Opened £120 - Total To Pay £224.22

I paid £17.28 (December 15), £2 (April) - Total Repaid £19.28

27th December 2015 - 23rd June 2016 - Opened £140- Total To Pay £272.45 

I paid £0. - Total Repaid £0

 

-------------------------------

I emailed them in August 2016 what I saw as irresponsible lending. There reply was:

 

This is in reference to your correspondence regarding your Lending Stream loans.
We have reviewed your accounts and would like to share our findings. You borrowed six loans from Lending Stream, out of which the loan accounts [5 accounts are still outstanding.]
Please note, we have already informed Credit Resource Solutions (CRS) about your enrollment with Citizen Advice Bureau(CAB) and they will be making the necessary changes shortly. They have made the necessary changes for the loan account xx.
Affordability Checks:

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 580 and above. This was factored into our proprietary underwriting and deemed acceptable

• At the time of each application, you were employed full time 

• Your monthly income at the time of applications was ranging from £1120.00-£1280.00

• We could observe a sufficient disposable income, which denoted that repayments towards the loans could have been made without any financial difficulties

• You were approved only for the amount you were eligible for

We expect our customers to include any current obligations due to be paid while filling the expenditure details to ensure a fair assessment of their disposable income and ability to make repayments. The data shared in your applications indicated that your monthly income well exceeded your expenses and that repayments towards the loans could have been made without any financial difficulties.
Credit file/Data Validation:
When a customer requests for a credit report from a Credit Reference Agency, he or she 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).
Additional Information:
Our constant message to customers whose circumstances change, or who experience hardship, is to speak to us and we will work something out together. While reviewing your accounts, we note that Lending Stream was made aware about your financial situation first on XXJan'16 when you informed about your enrollment with CAB and as per our procedure, the loans were passed to CRS as they handle all debt management loans for Lending Stream.
Please note, until CRS confirms about the debt management plan being set, we cannot put a hold on the interest. However, once confirmed, the necessary changes are made, where we waive any extra interest or charges incurred after the enrollment.
In lieu of the overall situation, we believe that Lending Stream has behaved responsibly in approving your loans and has been dealing fairly as per our procedures.
Resolution:
While we confirm that the affordability checks were performed with due consideration while approving your loans, considering your situation, we are ready to close the loan accounts without any further payments. This will be updated on your credit file in 30-45 days post closure. For the other outstanding loan accounts A, B and C, we are ready to waive all the interest and charges capitalised and would request you to return the remaining borrowed amounts shown below:
 

Loan ID	Borrowed Amount	Total Paid	Remaining Borrowed Amount
A	£120.00	£86.48	£33.52
B	£120.00	£19.28	£100.72
C	£140.00	£0.00	£140.00

We await your response for the aforementioned offer.
-----

 

We went back and forth and on 15th September I said I would accept but need to pay £1 a month, again they fired back saying they won't accept a £1 a month. And that was the last I heard from them I believe, (well I couldn't get into that email any more either after a few months.)

 

Since then nothing, no calls, no letters to an address.

 

This month I've received a letter from Lantern for £47.60 it doesn't tell me what it is for, it just has a reference number that has nothing to do with anything I understand. But a quick google says it's Lending Stream connection. It stated if I don't reply in 7 days it will be referred to BPO collections. Which I'm assuming it has as i didn't respond as I had no clue what the hell it was about. Why wouldn't they tell me what it was in connection with?

 

So now I'm a bit scared I don't know what to do, and if it is a summons I can't get access to the letter for nearly a week, and I just feel hopeless on how to proceed... Can anyone help me please? 
 

 

 

[dx100uk]

send lantern [MMF] a cca request ….stop using email/phone too

go get your credit file

 

moved to the mmf forum

 

 

 

[adam1992]

I have my credit file from MSE. Last updated 17/03/19

 

The Lending Stream Accounts all show under Default last updated 03/03/19

 

Motormile Finance £47.00 DEFAULT/ENDED

LENDING STREAM LTD £0.00 DEFAULT/ENDED (which seems to be the £47.00 - why is that showing twice as a default?)

LENDING STREAM LTD £275 DEFAULT/ENDED

LENDING STREAM LTD £153 DEFAULT/ENDED

LENDING STREAM LTD £220 DEFAULT/ENDED

LENDING STREAM LTD £229 DEFAULT/ENDED

[dx100uk]

sold accounts will show twice

doesn't harm you twice mind

defaulted date of this one sold to lantern [£47]

 

court claims don't come by signed for mail.

dx

 

 

 

[adam1992]

Thanks for your help Dx100uk

 

I had started a claim with Lending stream about removing the charges and complaining about the lending at the time via resolver, but resolver said lS don't handle emails anymore and I'd have to use their contact us page. Should I continue this or leave?

 

[dx100uk]

resolver is useless

send them our irresponsible lending complaint by royal mail

[adam1992]

Hi Dx100uk

 

i finally got around to sending a CCA to Lantern. They replied today (within 3 days) seems pretty air tight they sent an agreement.

 

Ive not contacted lending stream since the post as I have seen that if I’ve already complained once (the first post) I can’t forward to ombudsman can I? Please advise if I should resend a irresponsible lending letter.

 

socne the default I’ve never heard from lending stream. It’s only this smaller account I’ve heard about

[dx100uk]

no you are outside of 6mts.

 

if you wish scan up to pdf all the CCA return

one multipage PDF only please

read upload.

 

 

[adam1992]

I've noticed the 'agreement' is actually 'PreContract Information' there's 'key features of this credit product' with the amount borrowed for example, length and expected payment dates - but there is no account number, none of a applicants/contracted persons details. It's literally just information not tied to an individual.

 

Furthermore, (sorry for the questions) on two credit agencies (don't show up on the third) the closed accounts/defaults remaining all say £0. they don't have a balance anymore saying closed 23 August 2019.. Does that mean this have been wiped away?

 

The one in question above with MM shows £47 still. 

 

Will upload now

 

jpg2pdf_compressed.pdf

[dx100uk]

cant see a web sign up tickbox or anything.

nor your name and address [that you've blanked out?] was it there?

bogroll 

but quite std for lantern to send as a CCA request return

they think debtors are stupid.

 

pers i'd ignore until/unless you get a letter of claim 

[adam1992]

That's right there's nothing of my name/address or a e signature on there. They also sent my letter back and my postal order. 

 

Their attached letter merely states 'we've enclosed your agreement(s) as requested. Communication will continue if we don't have a payment arrangement in place...etc.. We look forward to hearing from you in 7 Days.

 

Do I reply stating they haven't provided an agreement?  I don't want them to sneak in a CCJ for example, or am I merely waiting for them to find the agreement to send over?

 

Or just leave it be? Do i need to keep them updated if i move address for example?

 

[dx100uk]

you never enter into pointless letter tennis with a powerless DCA

 

but yes as with any creditor or owner of any debt you might have used/paid within say 7 yrs

ALWATS update with correct address

else you risk a backdoor CCJ regardless to mail redirect

don't forget DVLA V5C and licence too....

 

[adam1992]

Hi Dx

 

I assumed Lantern owned the debt now? How do I update people just a letter even if we are at odds so to speak?

 

Also does this apply to the other lending stream accounts. Can you explain how to proceed with those (i updated a few posts back)

 

Apologies for all the questions.

[dx100uk]

the owners of debts will be listed on your credit file.

if a debt is sold by the OC

you should have gotten a notice of assignment.

 

have you been self helping ??

 

read threads here. or the debt collection agency forum

[adam1992]

My credit file simply states Lending Stream.

 

Lantern/MotorMile own the debt i cca'd above (£47) according to credit file

 

I have been/ 

[adam1992]

Sorry for the double post just wondering do I reply to them at all? Saying they haven’t sent a valid credit agreement.. isn’t there a time period on how long they must do this for? But their letter indicates they believe they have..

[dx100uk]

you never enter into pointless letter tennis.

[adam1992]

I’m uncertain how they got it but they’ve sent me three texts demanding contact since.

 

Do I just ignore them is that what you are saying? I don’t wish to end up with a CCJ suddenly.

 

are we right in saying that agreement isn’t worth anything as it doesn’t even have a name on?

[dx100uk]

correct on both counts

[adam1992]

Do you think? And I know this is against probably your process, but I should contact them & make a final offer just to get rid of it: as the agreement isn’t even with the correct details/cca details, potentially ask for removal of default too?

[dx100uk]

that would be acking the debt.

the default was registered by the OC

any issue with that you take up with them not a powerless DCA

[adam1992]

I've since received a new letter. This new letter now has 4 other accounts on it from Lending Stream. (Not the one above)

 

It states 'as you now have more than one account with us' they've given a reference number for them all.

 

Note I've not received any information about these from them until now, not that they've brought the debt or anything.

What do i do?

CCA these as well?

 

The previous post you mentioned they are a DCA, I'm certain their letter told me they'd purchased the £49 debt.. that's different isn't it?

I'm a bit scared now

[dx100uk]

what are you scared about?

 

a dca is not a bailiff.

 

it wont hurt to cca each one no.

 

dx

 

[dx100uk]

you indicated last month you now have been chased for more loans from Lantern

 

regardless to the fact they've now lumped these in one global ref no.

you still need to CCA lantern for each one.

 

you can also IRL each one to lending stream.

[dx100uk]

open