Jump to content

loner

Registered Users

Change your profile picture
  • Content Count

    19
  • Joined

  • Last visited

Community Reputation

1 Neutral

About loner

  • Rank
    Basic Account Holder
  1. loner

    Swift advances

    Sorry dx I think you have missed the point, I am not just wanting all my charges reclaimed but I want the company itsself to be investigated for they're unlawful and unjust practice. I want the figure they quote I still owe (£24,000) I want that amount to be wiped out and the company to admit liability. So the reclaim is only a part of what I want from this company. They have been getting away with day light robbery literally for far too long.... And the reason for my above statement post was if what this person has stated is true then my loan was taken out in 2007 means it was passed unregulated and by a un licenced company which is not just fraudulent on their part but also criminal most of all does this not mean they are not able to take any money off me as they (swift) where not even registered at the time the lending took place???:???:
  2. loner

    Swift advances

    sorry for the late response, I have spent countless hours searching online about swift reading other forums and statements given my general public and professionals alike. I came across this information which I think might be useful to others.Swift Advances plc………Unregulated Credit Agreements. It is fact that Unregulated Credit agreements appear to be exactly what they say they are. They are not regulated by the Consumer Credit Act 1974 (CCA) or the Consumer Credit Agreement Regulations 1983 nor the amended Regulations 2004 (CCA Regs) which came into effect in May 2005. Except Section 140 This has been confirmed and argued in Courts by Swift Advances plc by the Barristers they have engaged in such proceedings, it has been confirmed by Recorders and Judges that is a matter of fact. They do not apply to unregulated agreements Therefore a different approach must be taken by Defendants when faced with Swift Advances plc enforcing these agreements in possession hearings. We have to look at the construction of these agreements and not even think of the consumer statutes for reason they do not apply ( except the Unfair Terms in Consumer Credit Contracts and Consumer Protection Regulations), however for the purpose of these arguments these 2 statutes are not considered, arguments are concentrated around the following; The first point that must remain foremost in the minds of the readers is that it is only in the CCA and CCA Regs that the phrase or words "Charges for Credit" are used. We must apply common contract law of tort We now look at the construction of Swift Advances plc unregulated credit agreement such as the one attached and referred to in these papers. The First Box stating; Key Financial Information. It is seen that it says Amount of Credit; Principle Loan; Insurance loan ( if any) and Total The other Information in this box is; The Amount of monthly repayments; the Number of payments to be made and other explanatory Information. It is to be noted that there is no interest rate shown in this box. The Second Box below this, states: Fees payable which say; Brokers fee; Loan Administration Fee; Title Indemnity Fee; Rate of Interest; % p.a It is here that the information clearly shows that the regulations are not considered in the construction of these agreements and they are not applied in the construction of said agreements, for reason these fees are not stated to be "charges for credit" because it is only the CCA statutes that state what is to be contained in Regulated Agreements. Heavy emphasis is made of this "unregulation status" of their agreements by Swift Advances plc in the court proceedings referred to above and in correspondence from Swift Advances plc and the various other trading styles that they use. These fees are not totalled up as would be required under a regulated agreement, they are not referred to as "charges for credit" as would be required under a regulated agreement, there is no mention of a Total Charge for Credit as would be required under a regulated agreement. The borrower therefore is without doubt made to understand they are not charges for credit. The agreement makes the borrower to believe this for reason above. See Section 20 of the CCA Act 1974 We therefore have the fact in front of us that they are not considered or stated to be Charges for Credit, so what are they? The answer to this question I submit is found just below the signature boxes on the front of the agreement which states; You should note the following; 1. We agree to lend you the total amount of credit and the broker fee, loan administration fee and title indemnity fee (if any) shown above (the "Total Loan Amount") Besides there still being not being any reference or statement of "Charges for Credit" and /or "Total Charges for Credit" there is nowhere on the agreement that states Total Loan Amount or what this Total Loan Amount is. We therefore have the questions; Does it mean the Total shown in First Box? or does it mean the totals of the Second Box of the three sets of figures in that Box? It would be straight forward if this was the case, but it cannot be because the total shown in the First Box is minus the three sets of figures in the second Box, and the fact that the argument has been out forward that the are not stated to be "Charges for Credit" and the reasons why they are not stated to be so. We must go to the Note 1 quoted above; " We agree to lend you etc etc etc" It is here that it is stated what the three sums of Fees are, they are stated to be loans Loans, the words "We agree to lend" is a complete statement of fact that a loan is being made, not a "Charge for Credit as it would be under the CCA Regulations for reason the regulations do not apply to unregulated agreements, a fact Swift Advances plc consistently rely on in their arguments. Bluntly in the words of a prominent Senior High Court Judge in a recent Court proceedings he said " A dog cannot have two tails" Therefore I argue that; It cannot be the case that part of the regulations apply and others not, they either apply or they do not, and it is an absolute fact that they do not, and as argued by Swift Advances plc that they cannot. The fact is that they are loans, not "charges for credit" now means that we have a completely different light on these agreements. It is in fact a "Partly Regulated" agreement as follows; The main loan ( above £ 25000) is an Unregulated Unrestricted use Credit agreement. The Broker Fee is a Debtor-Creditor-Supplier restricted use credit agreement falling under section 11 (1) (b) of the Consumer Credit Act 1974 and section 12 © of the afore said Act. The Loan Administration Fee is also a Debtor-Creditor-Supplier restricted use credit agreement falling under section 11 (1) (b) of the Consumer Credit Act 1974 and section 12 © of the afore said Act. The Title Indemnity Fee is also a Debtor-Creditor-Supplier restricted use credit agreement falling under section 11 (1) (b) of the Consumer Credit Act 1974 and section 12 © of the afore said Act. It is also a multiple credit agreement falling under section 18 (1). The agreement is therefore a "Partly Regulated Credit Agreement" and the heading of the agreement should state that it is. In a manner such as this This is a Consumer Credit Act "Partly Regulated" by the Consumer Credit Act 1974 These arguments have been put forward by me in our Court case but because the Judge thought I was a dumbo as all judges think LIPs are, and knew nothing in comparison with a Barrister, dismissed these arguments, the Court should declare the agreement not just unenforceable but more than likely Void what do you think?
  3. hi everyone I am in a similar boat, I took out a loan in 2007 with swift for £10,000 now ten years later and £17,000 later they are still demanding I pay £24,000 or hand over my home. I am a singe parent with 5 children. I am now considering taking them to court to fight this all the way. I want to know if anyone has ever took swift on and won a case on misconduct or otherwise.
  4. loner

    Swift advances

    unfortunately this isn't the response I was hoping for but saying that I have read through the CONC 7.3 link sent and there are so many grounds on which swift have not complied to.
  5. loner

    Swift advances

    Hi, a quick up date to todays actions well it has been a very stressful day... I am still waiting for swift to send me the letter with all figures of charge and what interest was put on each charge. In the mean time I received an email back from FSA and they response is as follows.... Thanks for getting in touch with the FCA. I understand you took out a loan with Swift Advances in 2007 for £10,000. Your marriage has since broken down and you’re making payments on the loan yourself. The firm have added charges and interest for delayed payments and have told you you owe an additional £24,000 in order to release your home. I can appreciate this has been a hugely stressful time and has caused you considerable concern. The Role of the FCA We’re tasked with regulating the UK financial markets as a whole and in order to do this we have to remain impartial. For this reason we’re unable to investigate, intervene or comment on individual cases and we don’t have dispute resolution powers for individual complaints. What we can do is inform consumers of any relevant rules that regulated firms should be adhering to and the options they have available to try and resolve the matter. Swift Advances I’ve searched the FCA Register for details of the firm and they appear as a trading name of ‘Swift 1st Limited’ with the unique firm reference number 304896. FCA Rules We have rules in place which we expect the firms we regulate to follow in regards to customers who are in arrears or default with a loan. We expect them to treat their customers fairly. We also expect them to treat their customers with forbearance and due consideration if they miss payments of a regulated credit agreement. Treating a customer with forbearance can include suspending, reducing, waiving or cancelling any further interest charges. These rules are contained within the FCA Handbook which contains the rules and guidance we expect regulated firms to adhere to. The Handbook is broken down in to different sections relating to specific areas of the market, for example Consumer Credit (CONC). You can view the full Handbook guidance on the treatment of customers in arrears within CONC 7.3. If you feel that Swift Advances haven’t adhered to these rules and haven’t been treating you fairly, you can complain. How to Complain Because they’re regulated, there’s a specific complaints process that Swift Advances must follow. In the first instance we’d advise you complain to them directly, in writing. This ensures a written record is kept of all correspondence and also gives them the chance to resolve the issue at the earliest opportunity. They’ve provided us with some contact details for their complaints team; I’ve included these for you below: Contact Name David Carson Address: Arcadia House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex, CM13 3BE Phone: 01277 359 553 Email: david.carson@swift.co.uk The complaints process states they have a maximum of 8 weeks to respond to, and hopefully resolve your complaint. If they fail to respond, or you’re not satisfied with the response they do provide, you can then escalate your complaint to the Financial Ombudsman Service.
  6. loner

    Swift advances

    Thank you guys you all have been fantastic help, you all have given me a boost and a kick in the right direction, I have spoken to swift requesting the information all charges and fees applied to my account with interest charged for each charge. They said it shall be in the post lets wait and see now
  7. loner

    Swift advances

    Yes but they are very reluctant to give out much information, even obtaining statements is like drawing blood.....
  8. loner

    Swift advances

    you have a point, would you advise I contact the company and ask for each charge and interest charged on each charge too?
  9. loner

    Swift advances

    I will get on to the spread sheet tomorrow with a fresh head. I will go through the last statement I received to date and put it al on the spread sheet. Then work out the percentage charge for each charge and then a total percentage of charge to date and interest paid to date on the charge to date.
  10. loner

    Swift advances

    dx100uk I shall be fine doing the spread sheet not a problem as long as I have all the info needed. And thank you everyone that has helped me so far . dx100uk I don't think you have to be and expert but when your thrown into the deep end you end up learning so much more and see a new world. I think the biggest fight can be forth with wit and determination. I have both even through I feel drained I have come so far not to lose but fight on.... And when you have good people on here like your self and others to guide and mentor you then it would be foolish of me not to take this matter the whole way and see it through. I might not win but least I would have given it my all.
  11. loner

    Swift advances

    Thank you determindator I have the most latest statement stating all he figures paid from start until now but I don't have a letter stating what APR has been charged. I will contact the company tomorrow to request this information. This is so draining.... Thank you
  12. loner

    Swift advances

    I have asked the ombudsman to look into the PPI i have bags and bags full of statements, letters and more that have been sent to me and in the name of my ex husband not to mention the same letter then sent to both our names (what a joke) and each time a letter is sent out there is a charge so most likely they have charged e for all 3 same letters sent out!!
  13. loner

    Swift advances

    the following shows on the contract amount of credit; £9,000 monthly repayment; £146.67 number of repayment to be made; 120 16.4% APR variable interest %7,475.40 brooker fee; £900 admin fee; £225.00 total charge for credit £8,600.40 at the rate of interest ; 12.24% variable figures outstanding from September 2016 as follows; (taken from statement sent from swift) payments due; £17,267.47 credits; £16,694.03 fees charged ; £9,344.32 arrears balance; £303.44 total owed balance; £19,167.04 hope this gives a more clear picture
  14. loner

    Swift advances

    Hi Determindator, I have read the link and reread the copy of my original contract I cant seem to find the tick box for PPI anywhere on the contract.
×
×
  • Create New...