Lending Stream Payday Loan. Do not pay Lending Stream read why here

Lending Stream Payday Loan. Do not pay Lending Stream read why here

A Lending Stream Payday Loan (also called a payday advance) is a small, short-term loan that is intended to cover a borrower’s expenses until his or her next payday. There has been some criticism of these loans in the UK recently.

Controversial payday loans that charge astronomical interest rates of 2,000% or more over short periods to desperate borrowers have become hugely popular since their emergence in 2006, according to a report by a consumer watchdog. Paydayuk.co.uk, for instance, charges borrowers £50 for a loan of £200, which for short-term borrowing is an APR of more than 22,600%.

Lending Stream Payday Loan. Do not pay Lending Stream read why here

Illegal tactic they use against you and your credit file

I discovered this completely by accident and a lot of companies adopt this illegal tactic, from debt collectors to payday loan companies. They threaten to put a default/negative mark on your file, which means for the next 6 years you will find it hard to gain any credit again. However, they are sending to the large companies like Experian, your details, far earlier than they should and putting negative marks on your file. This means Experian shows either a missed payment or default on your file, before they legally should, it is a scandalous move on their part. So try this tactic now and I guarantee you will see your credit score improve immediately. I looked for a free to join, smaller credit agency, that most importantly allows you to dispute any/every negative listing against your file online, by simply clicking against the entry. If you see any defaults/negative marks on your file, click dispute on all of them and it will lodge with every agency in the UK, even if you think it should be there. I disputed everything from payday loans, to debt collectors and had 80% of them removed as they were unfairly lodged by the company. Check your file for yourself now, the free one I used was this one

Once they have you, they apply multiple tactics to get as much cash from you as possible. So if you have taken a loan and fallen behind on a payment, or they are adding extortiant amounts of charges on your account.

Lending Stream Payday Loan. Do not pay Lending Stream read why here

1. Call your bank and tell them your card has been stolen and you need a new card. Why? The payday loan company has your details, which means without you knowing they will use a POS machine to debit your acc for the loan charges you didn’t know had been applied and you wont know until you try to use your card somewhere and its been declined. With new card details, they wont have them and wont be able to debit anything.

2. You would have had to put your employers address and tel number on the application. This means they will use the tactic of calling your work and trying to embarrass you into paying. Who wants their collegues to know they are in trouble? With one letter you can send it to the payday loan company which will mean they are breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997 if they hassle you at work

3. CCA request, stall them further by sending off a CCA request for the original agreement. You will be surprised how many cant and if they cant, you owe nothing.

4. At this point they will be writing to you request payment. One simple tactic is to call them and say you are under consultation to be made redundant. You are being taken to court for non-payment of council tax and other priority debts. Which means, you only have enough to pay 70% of the original payday loan without any charges. Otherwise they will just have to wait for court outcome and are welcome to write to court.

If you have multiple debts and want to get rid of them all today

The problem with having quite a bit of debt, is it can become overwhelming and extremely stressful living day to day. If you have multiple debts and just want to get rid of all of it and let someone else handle it for you, then I can recommend one company for you. It is free to join and protects you from court action and bailiffs. They will contact all your creditors and end all the calls/letters/texts you get daily, whilst being able to force up to 70% of your debt to be written off as, ‘bad debt’. So if you want to end be rid of it all today check them out here