Worried about Sparkie and what may be happening. If any one knows some thing would they PM me ?

I have been following this forum, as you all know I are a victim of swifts actions that resulted in high charges and even higher interest rates been charged. My health dose not allow me to get involved with this crusade, however I are with you on this and are supporting you in the back ground. The postings of late have been positive and interesting reading and gets us further to getting justice. Regards to you all Swift Eater.

Indeed Doc I have been ripped of and had to pay a heafty price. Lets focus on what the latest is from NI . Also we must support Sparkie along the way. Borrowed 49,000 repaid 87,000 back over 5yrs.

What Sparkie is saying is correct. The best way of slamming Swift is by using the unfair relationship. My thoughts are with you Sparkie mate, you and others have been well and truely stuffed by this organisation.

Thinking of you tomorrow Sparkie. Good luck hope this goes your way, as you deseve it. Swifteater

Fingers crossed for our NI friends today. Sparkie hope all goes well for you too mate. This company must be stopped from opperating in the way they do, for me there actions has caused tremendouse carnage. Good luck, I will be popping in and out to see what develops.

Yes count me in, how many would we need ? But what is the draw down should things not go our way ?

Indeed I know what you are saying Sparkie, and I have much respect for you and what work you are doing here. The fact remains that the leagal costs of persuing this could out wiegh the potencial return of the claim ? Borrowed 49 K toatal repaid was nearly double in a five year pieriod.

Good Morning Sparkie, May I make an obseration to you last post ? Another thing that everyone of Swifts customers can challenge under Section 140 the Unfair Relationship From personell expieance this has all ready been exploured by recomended solisitors of this site. The result was I was advised that the costs/charges would out wiegh what the potencial claim would be worth. Are you sugessting doing this a different way ? P.S. If there is a way to do this with out obsorbing high costs ( have repaid the loan now ) please PM me. I wold be more than happy to by you a drink/meal or something else to cover your time. Regards Swifteater.

3rd December ? What court ? I would love to be there to offer support.

Sparkie mate, From where i are sitting this is becoming very heated indeed, so much that following this is becoming complecated. If every you require a whitness to take the stand regarding the libbor rates or funding please PM me as i would be honnored to help with Cagers getting money back that they have over paid. I say this because the company has deliberatley kept intrest rates high so that its borrowers fall in to arrears. One this happends , default notice, and the other charges are added. It is clear that Swift currently obusses its position as a lender. The debt councilling company that it owns pluss the brokers that have gone out of business just after selling the loans to custermers makes a shaddy story. When can we get any news about the proceedings of this case sparkie ? King Regards Swifteater

Sparkie mate we are dealing with some very slippery fish at swift. Keep up the good work, nail them B*****s

This Loan was taken out in 2004 so it was unregulated. I had Stephersons Solisitors look at it and they could not assist. I really do feel for the ones who are still trapped with a swift loan. I will do what ever i can to help and support others in the fight to get justice in the fight with this company

Hi Doc2527, Borrowed 49k in 2004 repaid £39K over 5yrs the settlement figure was £47k repaid them in Aug this year. Worst thing I ever done in my life was to deal with this company.

Hello everyone, It has been a time since I have posted, however I do check to see what is going on daily. As an ex swift custermer where we riecently paid back nearly double the amonut what we borrowed in a five year pieriod I are one of many who wants to put a stop to how this company operates. Sparkie has done some brilliant work and some answers to his last post follows. What is going on is called caracell pricing. One company sells to another company and charges a higher price for the product and then passes the added mark up on the the custermer. A lot of this goes on when claiming VAT and when that happends it is fraud. Swift has an unbrella of companies as we all know the profits from these companies goes to Alchanamy Group. Leagally there is a very fine line between frauduant and then there is a strong case of an unfair relationship. All though I repaid my loan to Swift I are requesting figures and costings. The company still dose not respond to my requests.

Thanks for that information about FOI Sparkie. We hear about this unfair relationship many times on this thread. As anyone been sucsessfull from persuing this ? No one more than me wants these to be stopped and to reinburse custermers for there actions. Is there anything in the pipeline or light at the end of the tunnell ?

May I piont out that there is a way we can get such information. However we all know that Swift Advances will not reply or follow this through unless a copy is forwarded to ICO. The Freedom of Information Act I can not take this on at the moment as I have much bigger fish to fry that cold result in a much bigger reward.

Here is a posting of the Libbor letter dated Dec 2008. The signiture is like on all other corespondances a squiggle. Libbor Date picture by swagers - Photobucket You see Swift borrow for 0.5% and mark up what ever figure they want as the agreements state a varible intrest rate. Clearly this is unfair, however Solisitors and regulators tell me if I do not want to do business with these people go else where. Yes the company is telling lies and using this for its own finacial gain. A mark up from 0.5% libbor ( cost of borrowing ) to 15% or 3000% is this extortion ? What I suspect is happening is this. A company within the group borrows at libbor , then that company lends that money to another within the group and then that company lends that money to Swift Advances. It is through this system (could be called carosell or piramiding) the company justifys its costs to the end user. Should this to be exposed very sierouse consiquesses would follow. I apolligies in a dvance for any spelling misstakes.

Appoigies acepted DOC , I was having a bad hair day and took it to heart. Smarter chick the answer to you question who sigined that redemptionstatment is No name just a squiggle with a pen with credt controll department below. Hmmm strage that eh ? The date on that document was 15th July 2009

Doc , no problem with the spell checker mate, I are just dislexic. It will not happen again as I will not post my findings relevent to this thread just in case you are offended by any spelling mistakes.

Swift catorgarotly state that there funds are linked to libbor, but all so claim that they now have other costs of borrowing so they can not decrease interest rates. Any loan with an example of 10% intrest rate in 2007 now should be 5 point lower baised on Libbor rates falling or now at 5% The problem we have is that compnies like Swift do not work fairly with its custermers so continue to to charge high rates of interest. LIBOR, other interest rate indexes 3 Month LIBOR | Current 90 Day Libor Rate Today's Interest Rates Index We can see how the libbor rate has fallen to .47 % that is less than half of one percent. http://www.moneycafe.com/library/3monthlibor.htm

This is a letter stating that the cost of borrowing is linked to Libbor. Please not that Swift state that libbor has not declined at the same rate as BOE interest rates.

Hi Doc & Mallymoo This is my redemption statement. Appoligies for not posting sooner, been very bussy here. Keep up the good work Sparkie and Smarterchick !

Keep us in formed as this develops smarterchick .......

Hi Overdone, If you were on Income Support how did you get the loan in the first place then ? Or did you do a self cirt where you stated earnings ?