Lending Stream has changed its complaints handling to make it harder for customers to make an affordability complaint and ask for a refund of the interest they have paid.
Until recently you could send them a complaint email, as you still can to the other payday lenders.
Now all emails to complaints@lendingstream.co.uk or payments@lendingstream.co.uk bounce back. Instead, you have to complete a complaint form on the Lending Stream website.
Insisting on a form – bad for customers
I always suggest people submit complaints by email rather than letters, telephone or a web form:
- you feel more in control of what you are saying than on the phone;
- many people have had bad experiences in the past with being pressurised by payday lender customer services and do not want to talk to them;
- it is better than letters as it’s free, instant and more reliable;
- you can add an attachment eg if you want to enclose a copy of your credit report;
- you have a digital copy with a date stamp you can show to the Financial Ombudsman as proof of when your complaint started.
Lending Stream seem to be using their new form as a method of “gatekeeping” to restrict complaints:
- you cannot submit the form unless you know the exact details you used when you were borrowing, eg the registered email address. But many people who got into a mess with payday loans years ago may be unsure of these;
- you have to supply a mobile number which many people do not want to do.
Once you have managed to submit a complaint form and get a reply from Lending Stream, you still cannot communicate with their complaints department by email, you can only phone. This can make it impossible for someone to provide helpful evidence. One reader said:
My bank statements show 59 loans from June 2015 – Jan 2018 totalling £8,430. They are terrible to communicate with & when they finally sent my final response to me at week 13 (not 8), they only have me being down as having 28 loans from June 2015 – June 2017. Every time I call them they fob me off. I have tried to e-mail them my bank statements but they have a new complaints procedure now so none of their previous emails I used work now. They said you have to submit a complaint form, but I cannot attach my bank statements to that to send. I have logged complaints regarding this to them & nobody calls me back.
It’s also against the FCA rules
Lending Stream’s regulator, the FCA, says in its DISP rules:
1.3.2 These procedures should:
(1) allow complaints to be made by any reasonable means
“Reasonable” here does not mean what is most convenient for the lender! The customer should be able to choose whatever method suits them. It is there to rule out silly options such as sending a carrier pigeon or writing a complaint on the side of a cow.
What can you do to object?
In practice the best thing for your complaint is going to be trying to use their form and phoning them up if you can’t remember enough details to get it accepted.
If Lending Stream deny that you have any loans from them and you have some evidence that you did borrow from them (emails, bank statements etc) then go to the Financial Ombudsman straight away and say you are unable to put in a complaint.
But if you are fed up with their obstructive approach you could also:
- leave them a 1 star review on Trust Pilot. Say their complaint handling is very unfriendly and you want to be able to complain by email.
- send a complaint to the FCA, at consumer.queries@fca.org.uk. Say that you are trying to make an affordability complaint about Lending Stream and Gain Securities (689378) is being obstructive and won’t allow you to communicate with them by email. Add that you will send your affordability complaint to the Financial Ombudsman at 8 weeks, but you thought the FCA should aware of one of its authorised firm’s poor complaints handling as the Lending Stream website appears to be in breach of DISP 1.3.2 and also DISP 1.2.1 (4).
Lending Stream – asking them for a refund
FOS cases – what happens?
Can you be called at work about debts?
Alan says
I had dealings with lending stream over a fraud matter and found their customer service to be truly shocking.
I was so upset I escalated the matter to the FOS who ordered that they pay me £200.00 compensation.
Paula says
Hi Sara,
I left a 1 star review on trust pilot & haven’t heard anything back. I sent the e-mails you advised me to the FSA. I wanted to let you know their reply to me I received yesterday:
Thank you for contacting the Financial Conduct Authority (FCA) regarding your concerns with Gain Credit LLC ( Lending Stream). I understand that you initially raised a complaint with the firm in relation to irresponsible lending in June 2018, however you didn’t receive a response until the 28th September. The firm state you have only taken our 28 loans between the 15th July 2015, and 10th July 2017, however you’ve actually taken out a total of 59 loan between 15th July 2015 and the 8th January 2018. You also feel that we should be made aware of their unfriendly and unfair approach to complaints. I can appreciate this must be a very concerning and frustrating matter for you and I’m glad you’ve brought the matter to our attention.
Gain Credit LLC
As an FCA authorised firm, Gain Credit LLC are expected to adhere to rules and guidance that we set. This would be in relation to both their lending responsibilities as well as dispute resolution matters. We also expect all authorised firms to pay due regard to the interests of its customers and treat them fairly.
[edited to remove standard stiff about taking a complaint to FOS]
I’ve today registered your concerns on our systems and made them available to the supervisory team which is responsible for monitoring the conduct of Gain Credit LLC. The information you’ve provided me with is helpful in letting us build a picture of whether the firm’s meeting our standards. Just to set expectations, we wouldn’t be able to provide you with an update to what we do with the information you’ve provided us. I can appreciate this may be frustrating but please rest assured the information will be reviewed carefully.
If you need to speak to us further on this matter then please don’t hesitate to contact us again and please quote the following number, to ensure we can link all your correspondence to the correct reference number. Your reference number is [].
I appreciate this may not be the response you were hoping for, however I want to thank you again for bringing this matter to our attention, it’s really appreciated. I also hope that you’re able to have your concerns resolved as soon as possible.
Paula says
I called the FOS this morning, they said once an adjudicator picks this up then they will look into this for me. I sent my complaint to the Ombudsman in Sept & it has been waiting to be assigned an adjudicator since October, they have no idea when that will be.
Lending Stream really are shocking.
Thanks so much for all of your help & advice.
Paula
Sara (Debt Camel) says
Good luck!
Paula says
I think I will need it.
Jen says
Hi Sara I have contacted the FCA last week, they have sent an e.mail back saying in short any further info on LS that proves their standards are short of what expected would be welcomed. It was because LS still haven’t sorted my credit report despite them being told to by FOS and myself on several occasions
Emma says
Hi lending stream who addressed me as Andrew I’m Emma, have turned down all 11 Of my loans took from 2014-17. The calculations are so wrong it’s unbelievable. Taking to Financial ombudsmen now
Sara (Debt Camel) says
It’s not normally worth trying to negotiate with Lending Stream, but if you think what they have written is so wrong it may actually be a reply to someone else it is worth phoning them up and saying this.
Kel says
Hi, I am try to put in an unaffordability complaint into lending stream, all emails bounce back and seem unable to fill in there complaints form, just won’t let me type in the boxes to be able to log complaint, really do not want to phone them, what do you suggest?
Sara (Debt Camel) says
I am afraid your options are either to phone them or to send a complaint to the Financial Ombudsman now saying that you are unable to send a complaint to Lending Stream.
Kel says
Thanks Sara, I emailed FCA about not being able to communicate with LS via email. Got a next day reply from them saying :
Thanks for emailing the Financial Conduct Authority (FCA) yesterday, in which I understand you’re looking to make an affordability complaint against Lending Stream and Gain Securities. However, they’re note allowing you to communicate with them via email. I can imagine this must be highly frustrating for you and I fully appreciate why you’re contacting us about this.
Information I’d like from you
I’d like to be able to refer this to my colleagues who oversee Gain Credit LLC’s conduct. For me to be able to do this I’d be grateful if you could let me know why this firm won’t communicate with you through email and provide any evidence to show this. Once received by colleagues will be able to add this to their supervisory framework so that they can build a picture of how the firm is operating. Please note, due to the confidentiality policies we have in place I won’t be able to let you know what we will do with the information provided and we generally don’t provide feedback. However, rest assure, where firms aren’t meeting our standards we can and will act.
I look forward to hearing from you.
Graham says
Ha – well done Sara,
The FCA responses above are really positive. I know they’re not immediately intervening in the individual cases but that’s not to be expected. They’re building a picture of a firm that’s probably already got a few cards marked, and that’s brilliant. The FCA should measure these failures against their ‘threshold conditions’ – one of which is around a firm’s ‘suitability.’ From what I can see here, disregarding dispute resolution rules and ignoring FCA principles, will lead to a big mess for LS.
I’d also add anyone not receiving any form of FOS award from any firm report this immediately to the FCA too. There’s no excuse unless they’re in administration, and again it can lead to bother for the firm they’d rather do without.
Keep reporting folks – Sara, can I beg permission to link to this thread in our Cit A, Jan 2019 debt update? This type of gaming the system really makes me angry! I’ll give credit and suggest readers also subscribe to DC updates.
Ta,
Graham
LOZ says
Hi,
appreciate anybody’s help please on this matter:
I’m having a nightmare with LS! I cant get over the first hurdle to claim any refunds. I have sent a email to LS to ask for refunds on my 49 loans for irresponsible lending, they emailed me back & asked me to fill out a complaint form however, i’m unable to complete this or print it off to write to them with my info….I have copies & printed off all my account summary for my loans, is it now best to write a letter and include copies of all my loans (although they should have this as its all on my account online) and send this by recorded delivery to their address?
Many Thanks
Sara (Debt Camel) says
is there a reason you can’t fill in the form? It’s horrible and no one should have to, but I am interested in the specific difficulty you are having.
Can you reply to the email they sent with your complaint?
You do not need to send them details of your loans – as you say, they have those.
LOZ says
Hi Sara,
Thank you for your prompt reply. The form was sent as a PDF doc and i’m unable to type on it, i also cannot save the doc for me to even print this off = its so difficult. I can apply to the email, would this be better to ask for refunds giving all the details this way? I just don’t want them to come back to me in 8 weeks saying not accepting this – must fill out the form and then it will it further delay this, or shall i ring up to explain this? however, reading most comments on here i probably wouldn’t get far via telephone..
Thanks Sara
Sara (Debt Camel) says
Have you tried completing the online form? I’m just trying to find the fastest way for you to deal with this.
If you send your complaint to that email and it doesn’t bounce back they have to accept it and deal with it. They can’t refuse to because it isn’t on their form.
Loz says
Hi Sara,
I’m unable to complete the form – its no use nor ornament! so I will just reply to the email and explain this and also my reasons why i’m requesting refunds on my loans ect…
Thank you kindly for your help, i’ll keep you posted.
Lorraine says
Hi Sara – I wondered if you could help please.
I sent an ‘irresponsible lending’ complaint to QuickQuid and to Lending Stream. QQ have been really good and are upholding my complaint. However, Lending Stream are a different kettle of fish. As with QQ, I cited my complaint and the fact that I have been unable to work due to mental health issues and I rolled over loans with them lots of times. They have responded by emailing me a ‘mental health’ form and are asking me to to get it filled in by my GP and to send it back to them.
Could you tell me please, if I have to do this? I didn’t with QQ and they were really good. Are Lending Stream stalling? Should I just go ahead and give them access to my medical records – they are asking me to write a letter giving them permission to do this?
Thank you for your help.
Lorraine
Sara (Debt Camel) says
I think you have been asked to fill in a DMHEF form. This form was introduced as a way of protecting vulnerable consumers and allowing them to put forward evidence concerning their mental health where this is needed.
It is poor practice in my opinion for a lender to ask every customer who says they have a mental health problem to get one of these completed. They should only be doing this if it is important for your case. Here are a few example I have made up.
A) Customer has borrowed repeatedly from a lender for a prolonged period of time and is making an affordability complaint asking for a refund of interest paid. Here a DMHEF is simply unnecessary as the complaint should be upheld on the basis of repeat lending regardless of your mental health now or while you were borrowing.
B) Customer is making an affordability complaint and also owes a current balance. They have asked the lender to stop sending them so many texts and emails about the balance while the complaint is going through as they suffer from anxiety and depression. Here also a DMHEF form is unnecessary- the customer is disputing the debt and it’s inappropriate to pester anyone repeatedly while the complaint progresses.
C) customer had previously asked for a payment arrangement and said they suffered from bi-polar. A year later the lender gave them a large loan they cannot repay and they are asking for the loan to be written off because the lender knew of their mental health problems before giving the loan. Here a DMHEF form is a reasonable request.
So the more important mental health is to your case the more helpful it could be to get a DMHEF form. But this shouldn’t be routine, and a lender should not use it as a way to make complaints seem more difficult for a vulnerable group of customers.
You can simply tell Lending Stream you will provide any evidence to the Financial Ombudsman if necessary.
Joanne says
hi,
My complaint with Lending Stream is now with the Financial Ombudsman awaiting an adjudicator, they have all the info from me and Lending Stream, how long have people waited until their case was assigned please.
I had 8 loans with them ,3 of which were at the same time and are now with a debt company. (Which I’m paying back monthly) While I had all loans I had numerous other payday loans (which I’ve had redress from) at the same time and my credit rating was poor and still is and I’m on a DMP for other debts . They didn’t uphold my complaint of irresponsible lending and affordability. They told me my credit rating was good ( it wasn’t and if it was I would of been able to get a cheaper loan from my bank or a credit card) they did all the checks and I should contact the debt collection agency with regards to the 3 outstanding loans and take my complaint to them.
Do people think I have a strong case? I’ve worked out I’ve paid £1730 over all to Lending Stream in interest.
Thanks in advance
Reen says
Hi Joanne mine went in mid April and by beginning May I had an email saying they had all they needed. By 1st week in June it was assigned to an adjudicator so now just waiting to see if they have everything from LS and whether they will uphold it and if LS agree. Hopefully get an update soon. Hope this helps but am sure others will give you a better timescale who have been successful. Good Luck
Joanne says
Thank you so much. Hopefully I won’t have to wait too long. I originally contacted the financial ombudsman 10 weeks ago as all my emails to Lending Stream were bouncing back and their online contact form wouldn’t work with to issue my complaint.
Hope you get a good result
Lauren says
Hi Joanne Mine has been with an adjudicator since October last year. Everything has gone through and I am just waiting on the funds being transferred. It’s not a quick process but worth it in the end.
John Heart says
Hi Joanne,
I put my complaint in last September, I got a phone call from the adjudicator 2 weeks ago saying she found the 4 of my 7 loans were irresponsibly lent and they have until yesterday to appeal the decision. So I’m just waiting to here, then hopefully won’t be too long to be paid out!
Reen says
I also received the same reply from LS and paid abit more than you back in interest but some were not paid and subsequently sent to a debt collection agency but then they issued a CCJ which was in my opinion incorrect as they didnt match up on reference numbers (another complaint to do!) so I think mine will take a while if they are looking at the whole picture or depending if they just take in to account all loans which were paid off. Will keep you updated as things progress.
Joanne says
Hi there, yes I was given a CCJ too, the debt company said I never replied to their emails by the deadline to stop a CCD from being issued. I had replied by the deadline and the messages was in my sent box.
Sara (Debt Camel) says
were these CCJs from lending Strem or a debt collector it was sold too?
Joanne says
My 3 remaining loans from Lending Stream were sold to a debt agency and it’s the debt agency that said I never responded to their email prior to CCJ being issued
Reen says
Hi Sara/Joanne Mine were from a debt agency too, will it make any difference as I have been paying to the debt agency, if successful I presume they would have to refund what I have paid as well but does the CCJ get marked as satisfied on my credit report. LS were terrible as some correspondence came to me saying satisfied and settled and was not sure what it all meant when looking at my report! They have always been inconsistent in my opinion.
Sara (Debt Camel) says
Yes LS will have to refund what you have paid in interest, to them or to the debt collector.
I assume you did not try to defend the CCJ case in court. If that is correct, you should say to the adjuidcator at FOS, then you would like the CCJ to be set aside. You can apply for this – in which case the refund from LS should cover your fee. – or LS can arrange for the debt collector to apply for this.
Reen says
Looking back I had 5/6 loans out all in one go and paying about £300 per month plus other PDL at the same time hence why I was constantly knee deep in it. Does that sound like a good case with the FOS?
Sara (Debt Camel) says
definitely worth taking to FOS if LS have rejected this.
Reen says
Hi Sara yes I already have and it has been picked up by an adjudicator few weeks ago, hoping LS respond fairly this time! re the ccj iand requesting it to be set aside, is it worth me mentioning this now to my adjudicator before he responds back to LS (if he hasnt already done so)? I was going to put a complaint in to the debt agency before it got passed to another who issued the CCJ as for 3 loans they only used one reference and at the time I was snowed under with other things and never even looked at the CCJ properly or any correspondence I had until at least a year later, who should I go back to on that one LS or the agency who passed it on to another agency for the ccj?
Sara (Debt Camel) says
yes, tell your adjudicator now that there is a CCJ and you would like that set aside.
Reen says
Thanks Sara Hopefully the adjudicator realises this as I had said that in my original complaint letter, but when I speak to him I will mention this bit again as he did ask if there was any court action so did explain what I wasnt happy about. Thanks for your great help much appreciated
John Heart says
Hi Debt,
I’ve just heard back from FOS who tell me that lending stream shouldn’t have lent 4 of my loans, will this be a refund of all money borrowed including interest?
Kind regards
Sara (Debt Camel) says
No, just a refund of the interest. The Ombudsman says it is fair that you should repay what you borrowed. 8% statutory interest will also be added to your refund.
John Heart says
Thank you, I was kind of hoping as it was ruled they should never have given me the loans in the first place they’d refund it all. I suppose something is better than nothing :-)
Sara (Debt Camel) says
That hardly ever happens. The exceptions are the unusual situations where you can show the lender knew you were mentally ill, or had a gambling problem before they gave the loan. Not that the lender could have worked this out by looking at your case and thinking hard, but where they had clearly been told beforehand.
Paul Wakeman says
This is the response I received from Lending Stream on 11 Jul 19. My original complaint was sent via the Debt Hacker Website stating I wished to make a complaint about irresponsible lending (I had 8 loans from them within 7 months) and I never received anything from Lending Stream during the 8 week period. Referred the case to the OmBudsman and what a surprise, within 2 weeks I get an EMail response from Lending Stream denying they’ve ever received a complaint.
Dear Paul,
This is in reference to the FOS complaint received on your behalf (FOS Ref: PNX*********; Our Ref: *******).
We would like to inform you that we never received a complaint from you in the past nor we have been provided with any details around the nature of complaint in the complaint form received from FOS, therefore we cannot act on it within the stipulated timeframes.
We therefore request you to provide us with the specific details of this complaint by replying to this email (please ensure the reply subject line is not altered). Please note that attachments maybe included as well.
If you have any further questions or would like additional information, please contact us on 0203 365 0138 (call charges apply) between 7:00am – 10:00pm. Alternatively, you can visit the “Contact Us” section of our website at http://www.lendingstream.co.uk and register your query.
Regards,
Lending Stream Complaints Department
Sara (Debt Camel) says
Yes, using resolver doesn’t really get around the problem of LS’s refusal to accept complaints except through their page. You can complaint to FOS about this – resolver are an FCA authorised claims company and LS should have taken the complaint from them.
but as a matter of practicality you should also send your complaint details now to LS in reply to that email.
Paul Wakeman says
Thanks. I sent the information to Lending Stream the same day as I received their EMail. Funnily enough, I haven’t heard anything from them in reply (Guessing they’re a bit busy at the moment!)
A says
Hi Sarah
I have submitted my complaint via resolver to LS today, Resolver haven’t updated their automated system, so I received a bounce back from LS through the service saying that they do not monitor the inbox. Should I try and submit a complain using the online form and uploading a screen shot of me doing this to the resolver case? That way once it is escalated they can see that I have tried both ways? Does anyone know if you receive a confirmation email or message when a complaint has been submitted?
Can I also ask if anyone has any experience with the form? Is it onerous / difficult to use?
Steven Mcdonough says
I am wondering can any extra interest be added if lending stream go over the 28 days they are supposed to pay the claim out? It will be 28 days today however I am still awaiting payment?
Thanks for any help in advance
K JJ says
I have just put in a complaing with Lending Stream today, they have acknowledged the complaint.
When I click on the link to their complaint handling procedure it cones up with a 404 not found message. I am taking a screen shot of this with the date and time, is there anything else I can do
Hayden Watkiss says
I had the same, the link they send via email has a full stop at the end of it. Copy the link and paste it into your web browser and remove the full stop before pressing enter and then it will come up or download.
Regards
H
Chris says
I’m currently having issues with L S. I have 3 loans and following a medical emergency I told them that I will struggle financially over the next 3 months. I completed an I & E form (which their agents clearly didn’t read, as they kept emailing me back asking for the information that was already on the spreadsheet
They eventually came back to be and told me to speak with a Debt Management Agency. They have cancelled my card payments but have also refused to give me their BACS information. “we have observed that your disposable income does not meet our minimum payment criteria for an arrangement to be set up on your accounts. Hence, we request you to get in touch with a Debt Management Company, as we are concerned about your affordability and do not want to put you in a situation of further financial distress.”
I only defaulted today so have no idea what they intend to do with my accounts in terms of default charge / interest or passing me to a debt collection agency and if so, will they remove the interest from the loans or just transfer the lot over to them? I have no idea what to do next.
Sara (Debt Camel) says
Can you give some background:
– did you have other loans from LS before these three? How much did you borrow for these 3 loans?
– did you have other payday loans or other high cost borrowing?
– why were you having to use payday lenders before you had medical problems
Chris says
Hi Sara.
LS Loans:
08/11/2016 – £200. Paid £240.00
18/06/2019 – £200. Paid £251.48
10/07/2019 – £400. Paid £405.70 (an error on their website caused me to pay back my loan within hours of receiving it)
12/07/2019 – £390.00 (int £303.66)
13/07/2019 – £250.00 (250.00)
30/07/2019 – £100 (int £98.38)
Total principle loans £740.00
Paid to date £349.22
Currently O/S £768.97
I’m on a single income and was experiencing financial difficulties prior to my 2019 loans. I used LS as I had been on temp contracts and trouble with my car.
I now have long term employment with an improved salary. My credit rating is very low, hence my turning to a Payday lender. My recent medical expenses are due to my having a fall and now have NHS dental fees and new spectacles to pay for, so not a long term issue. But I’ve now found myself on a never ending spiral of debt. O did ask them to consolidate the 3 loans but they refused. Without the high interest charges on these loans, I would actually be able to pay off the principle debt within a short period.
Chris says
Update – as of midnight, they have added a £15.00 default fees to each loan. I feel like I have been scammed.
Chris says
Hi Sara.
LS Loans:
08/11/2016 – £200. Paid £240.00
18/06/2019 – £200. Paid £251.48
10/07/2019 – £400. Paid £405.70 (an error on their website caused me to pay back my loan within hours of receiving it)
12/07/2019 – £390.00 (int £303.66)
13/07/2019 – £250.00 (250.00)
30/07/2019 – £100 (int £98.38)
Total Loan £740.00
Paid to date £349.22
Currently O/S £768.97
I’m on a single income and was experiencing financial difficulties prior to my 2019 loans (I had relocated and on temporary employment assignments. However I now have a permanent contract and my salary has improved but I needed finances to fund car repair and to pay towards an outstanding Council Tax and Utility Bill.
My credit rating is very poor, hence my turning to a Payday lender. My recent medical expenses are due to my having a fall and now have NHS dental fees and new spectacles to pay for, so not a long term issue. But I’ve now found myself on a never ending spiral of debt. Without the high interest charges on my LS loans, I would actually be able to pay off the principle debt within a short period. I asked them to consolidate the loans but they refused.
Chris says
Actually, looking at those interest figures has horrified me . I feel like I’ve sleepwalked into this!
Colin Brown says
Hi All,
The senior Ombudsman at FOS has emailed me to say they have written to QQ informing them to pay out, this was after I had signed and submitted my acceptance letter, they say they have 4 weeks to respond to me and to contact them if not heard.
Does anyone have and experience of this particular instance I am currently in? Do they come back in the timeframe?
Susan Brown says
I was due my payment 2 days ago, I have phoned then twice and now they are apparently having technical problems refunding people’s redress payments. I contacted the FOS who says they were told the same. They said I’ve to wait till Monday now to see if this is paid !!!
Lynn scott says
I Complained to LS last year and I have not had any recient response from them only an email from a Collection Agency (Lantern ) with a Goodbye Letter from LS attached to email which I can not open unless I enter my DOB?
I just came out of it as I think the Company Lantern will then be able to view my DOB and I dont want them to have it and if they already have it from Lending Stream then I just dont want to Confirm my DOB with Lantern.
Sara (Debt Camel) says
What happened to your LS complaint?
Simon fryer says
I registered a complaint about affordability checks with lending stream and the reply I got back was that they used a 3rd party to assess my income and expenditure and a 3rd party credit reference agency for my credit score. I had 18 loans over a period of 22 months. I was off sick from work with mental health issuse and on ssp. My credit rating was very poor. I have asked them for the name of both 3rd party’s who they used and still waiting.
I will add to this if and when I hear from them
Sara (Debt Camel) says
I suggest you send your complaint to the Ombudsman right away, Lending Stream won’t change their mind,
Then send Lending Stream a request for a copy of all your personal information, saying “I am making a Subject Access Request (SAR) for all the personal information you hold about me including, but not limited to, my applications, all credit and other affordability checks, a statement of account for my borrowing, and a record of all phone calls. I understand you are not allowed to charge me for sending this information.”
You will get back a ton of information. This isn’t usually worth doing for payday loan complaints as the sheer number of your loans is very likely to get you a refund, but if LS want to be difficult…
Simon Fryer says
Many thanks Sara for the infomation.
I am going to follow your advice and see what happens.
Once again many thanks for the reply and I will keep you informed of what happens
KArl JJ says
I’s go straight to the Onbudsman if I get that response, as a Lender using a third party credit reference agancy they would have a duty of care to ensure that they are sending them correct information to base their lending decisions on.
I suspect that they may well be the next one to go to the wall after Quick Quid
KArl JJ says
Leanding Stream have overed me a redress paymenet on one of my loans, not as mush as I hoped for and they are claiming thet the third party credit checks on all bar one of the loans was sufficent to confirm affordability. To be hoinest at this stage I am happy with a small amount of redress, considering that Pay day loan companies are going to the wall rather quickly now. I could fight for more but in doing so I am likely to get less if they close up.
Lynn Blaney says
Just had response from Lending Stream on the 33 loans I had with them. No payout from them on any of their loans.
“A credit worthiness check was completed and the third party credit reference agency confirmed a rating which was satisfactory for the loan obligation
Based on the above information we conclude that proper and proportionate affordability checks were conducted
Sara (Debt Camel) says
That is very poor :(
Send it to the Finacial Ombudsman straight away.
And leave them a bad review on Trust Pilot: https://uk.trustpilot.com/review/lendingstream.co.uk.
Also tell the FCA (their regulator) what you think of their very poor complaint assessment. copy this to LS and hopefully they will hate it!
The FCA won’t intervene in your case but this is quick and easy to do. Email to consumer.queries@fca.org.uk. Copy this email to stuart@global-analytics.com and chris.deboer@global-analytics.com
_______________________________________________________________________________________
Say that you took 33 loans from Gain Securities (689378) trading as Lending Stream. They ahve rejevt your compl;aint about unaffordable lending for all loans, so you have sent the case to FOS. Say this shows Gain Credit are failing to apply the FOS approach to affordability complaints and are in breach of the FCA’s DISP rules.
End by saying you understand the FCA will not investigate your complaint but you wanted to report their very poor complaints handling.
Caz says
I had exactly the same but have lost the email that they sent i think when I had a declutter i deleted it by accident. I have now raised it with the Financial Ombudsman, I also had a few loans with them and I also have an outstanding balance but I refuse to pay it and they also will not offer me an early resettlement either. They are a awful company especially when I have complained to other companies and they gave me refunds straight away
Simon Fryer says
H just a follow up to me much earlier post about lending stream affordability checks.
My complaint is now being handled by the ombudsmen got to send them loads of info.
I will keep you informed of any progress
Aisha says
Hi my son has had his debt from lending sold to another company, he had this loan 2017 can they do this and he does not live here anymore so how do this work?
Sara (Debt Camel) says
where does he live now? In this country?
Sara (Debt Camel) says
A debt can be sold and the debt collector is likely to find out where he lives at some point.
It isn’t your debt and even if cross letters or court papers come to your house, they won’t affect you or your credit record.
I suggest you tell him what has happned (if he doesn’t already know) and say that if he borrowed from lending Stream several times he may be able to make an affordability complaint. Point him to this page: https://debtcamel.co.uk/payday-loan-refunds/. Any complaint goe to LS not the debt collector as that page says.
Aisha says
Yes he does
Karl says
Can we still not complain via email? I don’t feel comfortable making a complaint on there for and giving details for them to start hassling me again and causing me problems
Martin says
I used their online chat system and they filed the complaint for me. I’ve received a confirmation email and ticket number. I copy and pasted your letter template to them. I will keep you posted with any updates
Jan says
Hi sara. I had 26 loans with LS, using their loans to pay other loans. I put a complaint in to LS they have said they do not uphold the complaint as I was earning enough money to pay their loan. Other lenders have upheld my complaints as they said my credit record was so bad. Should I take LS to the ombudsman? Thanks
Sara (Debt Camel) says
Definitely! 26 loans is a case well worth asking the Ombudsman to look at.
dean says
hi sarah,iput in a complaint with the obudsman a few weeks ago and just had a response saying they are no longer regulated is this true,they have suggested contacting the FCA or FSCS for more help is that right
Sara (Debt Camel) says
it sounds wrong! can you copy it out in more detail?
dean says
hi sara sorry about the delay,a bit more info i used resolver for the complaint and this is the reply copy and pasted .thanks sounded wrong to me as well.took the name of the customer assistant out .
Dear Mr Smith
Your complaint
Thank you for getting in touch.
Unfortunately, as Lending Stream are no longer regulated, this wouldn’t be something we would be able to help with. I would suggest contacting the FCA or FSCS for more help with this.
Kind regards
+++++++++++++ | Assistant (customer help) | 02034875424
Financial Ombudsman Service | Exchange Tower, London, E14 9SR
Sara (Debt Camel) says
well this is nonsense – go back to the Ombudsman and say Lending Stream is a brand name of Gain Credit who are regulated by the FCA number 689378
dean says
Thanks sara ,just abit of history over the compaint 55 loans over 3 year period no breaks,with loans from other lenders wageday advance,sunny payday express,and quickquid and a loan from 118 118, 4 maxed out credit cards along with a pretty bad gambling habit all under control now,did they look at my credit history? iresposible lending?. i will try to ring them monday.
Janine says
I put an affordability complaint to Lending Stream in February, they replied saying I could afford them, I sent it to the FOS, who disagreed with 4 loans, I’m due a refund of £451.00 and have been for a few weeks now, they’re holding onto the money to be absolute swines. So I go to their chat everyday to ask if it’s been paid, just like theyd call me if I owed them money, I paid all my loans early, otherwise they’d owe me more. Still waiting on payment, cant do anything until my birthday 12th, I doubt itll be paid even then. I also got an email saying theyd pay within 24 hours so paid off a credit card knowing I had this money coming, nope, they lied. I’ve had to borrow money to live. Horrid company.
David Gallagher says
Hi been waiting for a refund off these people they tell me they need my account detail for my bank to refund me but I’m marking payments to them from the same card ?? What am I ment to do as I’ve waited a long time like march
Paul says
I’ve had 13 loans upheld with my adjudicator as of last week all loans were between £150 and £250 just wondering if lending stream cooperate now it’s in my favour and what kind of refund I’d be looking at if any
Sara (Debt Camel) says
LS normally accept adjudicator decisions, so I hope they will yours.
Do you know how much interest you have paid on these 13 loans? Has the last loans been repaid? How long ago were these loans?
caroline says
Hi – after reading this thread i didn’t hold up much hope of a positive reply but gave it a shot anyway. I completed the resolver complaint template re: loans with lending stream from 2015-2017 (affordability claim) about six weeks ago and was surprised to get a response this morning offering me £699.50 settlement. I accepted it and they said it would be in my bank within 28 days. I will wait and see if it comes through :)
Aisha Johns says
Who do you claim it and who too as we tried last year was ignored by lending stream
Thanks
Aisha
Sara (Debt Camel) says
You sent an email that was ignored? Did you follow this up by phone?
A says
Just to let people know that Lending Stream has stopped accepting complaints raised through Resolver and Resolver now have a message stating this when you try to raise a complaint with LS (https://www.resolver.co.uk/companies/lending-stream-complaints?territory_id=1)
Talk about EXTRA barriers!
IF however you had already raised your case via Resolver – do not lose too much hope. I raised my complaint via Resolver initially and crucially I also completed that horrendous online form, which I uploaded a copy of to the Resolver portal. Lending Stream responded to me via the portal (despite saying they DO NOT monitor the email address and not to expect a rely) to let me know that they were already dealing with this complaint. I have since escalated to the Financial Ombudsman through Resolver
This is the message Lending Stream sent me on the email address they do not monitor or read:
“Dear A,
This is reference to your recent correspondence received for resolver under the reference number XXXXXXXXXX.
We would like to inform you that we are already dealing with the same complaint.
If you need any further information, please reply to this email.
Regards,
Lending Stream Complaints Department”
So it would appear they do read the emails – they just don’t want us to think they do!
Sara P says
Hi,
I just wonder if anybody could advise on the following. I sent your template letter to lending stream. I have received a reply today stating with regards to my subject access request they have attached various details regarding my loans (apart from 2 loans which they say were sold to a debt collection agency so have not included the statement of accounts for those).
I just wondered if I have to answer their email saying I still want to go ahead with the complaint, or is this just a step they do in the process, and will go ahead to look at the complaint without me having to respond?
Also, I didn’t realise the loans are actually from 2010/2011, is this too long ago to be able to claim?
Thank you for any advice.
Sara (Debt Camel) says
This is just a step, it is the answer to the point in your complaint where you asked for the details of your loans. It is not the response to your complaint.
Yes you can still get refunds from loans in 2010/11 – if Lending Stream say they are too old, send the case to the Ombudsman who will normally look at loans over 6 years old.
Jon Taylor says
Hi Sara,
I received my SOA on the same day as you 02/06/21.
Like you, I was surprised that my 10 loans dated between 2020/2011
Anyhow, I just received another email today stating the following:
We write in reference to your previous correspondence.
We would like to inform you that to thoroughly investigate your complaint and provide an appropriate final response we anticipate requiring the 8 weeks defined by the regulatory timeline. Thank you for your understanding.
I am a little disappointed as most lending Stream claims made by people on this website in 2021 appear to have been dealt within 2/3 weeks. Hopefully the age of the debt isnt a contributing factor in the time it takes to resolve.
Best of luck with your complaint!
Bankerpaul says
Hi, just wanted to thank Sara for this website. It gave me the courage to put in a claim with Lending Stream even though I had default ed on a loan with them! I went on their website, followed the guidance on this site and claimed for a total of 29 loans, from 2012 to 2017. I wasn’t expecting much of a response but within 4 weeks I had an offer of £5700. They upheld 23 of the loans as mis sold and closed the one I hadn’t been ab!e to repay. A bit of a result!! I followed the link in their e mail and had the money in my account within two days! So thank you Sara keep up the good work.
Regards
Bankerpaul
Sara (Debt Camel) says
I hope they have also removed the default from your credit record?
Bankerpaul says
Yes I have an e mail from them confirming that they have contacted the credit reference agencies to correct my file. I gather it will take about 30 days!
Aisha says
Hi what is website please?
Kind regards
Aisha
Sara (Debt Camel) says
I think he mean Debt Camel :)