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  1. Hi All, Could really do with some help , I am trying to get unjustified charges back from swift took out an unregulated secured loan back in Oct 2007 for 36k repaid over 100k and now paid them 47k in settlement as now sold my house....................please can anyone help they have offered me £600 !!!!!!!!
  2. Hi All, I have recently (in the last two days) been subject to a second hearing for possession of my home by Swift Advances. We've had two hearings. First hearing the CC judge ordered that we investigate the excessive interest on our account and get clear explanation from Swift as to why they have charged an account management fee every month since the year 2007 to date--totalling £5267.00. We investigated to the best of our affordability to no avail. However, Swift advances made a statement over the phone to me (i quote) "We at Swift will never charge you a fee as long as you make a payment on the account" this obviously is not the case. The judge at this first hearing was utterly confused how a £31000 loan can now be worth £52000 even after paying monthly for the best part of the last 10 years. She challenged Swift's Solicitor asking him how they can justify a loan that can never be paid back within the remaining terms...he had no comment. Hence her adjourning the case for 30 days to allow us to investigate. Second hearing the judge still not satisfied with our investigation into the charges and the lack of knowledge of the charges from Swifts solicitor...has DENIED their possession order against us. Stating it was unfair on their part. We have now contacted the FOS with the case and are seeking further legal advice to hopefully get all the charges rescinded. You never know they may even force the close of the loan due to swift advances treating us unfairly in accordance with COBS. Watch this space!!!!!!!!!
  3. Took out a secured £12k loan in October 2007 over a 10 year period. Please note I didn't want to take out the loan but had no choice if I wanted a quiet life as at the time I was in a controlled marriage ..mostly mental with some physical abuse resulting depression, anxiety and panic attacks . The 10 year loan gives 120 months worth of payments out of these 120 months I made 107 payments on time and 13 missed payments these were down to my so called husband taking the money out of my wages in the bank to pay loan and saying would put back to pay but never did ... with my depression and my husband controlling my money I worked but had to ask him if I needed money all debts he ran up were in my name and l developed a serious problem with opening letters as they were always for his debt and I didn't have the money to pay them as all my wages had to stay in bank... I have unopened letters hidden around my home going back at least 15 years ... Getting back to the lovely swift advances due to not opening letters I found out that swift had taken me to court for the missed payments and because I had no idea they had been given the repossession order . . My daughter for whatever reason as she never ever had before opened a letter last Tuesday 3rd April from a company called R & K and it said they would be coming to our home on the 11th April which was yesterday to remove us and change locks ... I immediately contacted this company and they told me I needed to contact swift as they were only ones who could tell them not to come out on the 11th ... on contacting swift they said my loan had came to it's 10 year end on October last year but I had the 13 missed payments as arrears which when I add them up come to £2,600, when swift add them up it comes to £18k and they wanted that as a one off payment to stop taking my home ... in the past few days I asked them to consider me paying £300 A month to clear the ridiculous amount and I also asked if they would reduce the amount to a more reasonable amount and I would see if I could get the funds from family and friends and make a one off payment they said they would have to ask management/directors the following morning and get back to me later that day which was Monday this week ... I spoke to them after work on Monday and they advised I had been turned down on both of my requests and only option was paying the full £18k .. .they also informed me that they had postponed the date to take the house from 11th April to the 14th May to give me time to try and sort out the payment ... I also found out that they had actually turned up at my house in February to take house but my dog was in house barking so they cancelled it and charged me over a £100 for that ... my daughter was home that day she also has mental health problems worse than mine having had a mental breakdown at age 13 due to her father's behaviour ... the day they came out bearing in mind I didn't know anything about this happening due to unopened letters my daughter rang me frantic at work saying a van was outside house and men in garden outside our home... I asked her for name on van and googled it but it didn't give me any idea what it was about ... I am now taking on the fight of my life to save our home as my daughter sees this as her safe place since her breakdown and she is now starting to show signs of shutting down again and I can't let that happen to her... any advice woukd be most appreciated .. . Thank you in advance
  4. Just a brief outline regarding my experience dealing with Swift Advances regarding a excessive charges complaint of which involved Fos. 2005 I took out a regulated loan for £10000 to be paid over 5 years.. Regular monthly payments were made inline with the agreed amount, sometimes a day or so late. This triggers charges on the account of which also incur the same interest rate as the loan. as you can see the charges are relentless. Late 2008 i was in severe financial difficulty as i was elf employed my business was struggling. Realising the depth of debt especially with Swift following a redemption figure request i conceded that there was noway i was going to be able to repay this debt with the spiralling charges being added to the account. 2009 i lost my family home to Swift as i foolishly at the time gave up and did not fight my case in court and just assumed that no matter what i did they would take it anyway. 2012 Following media report about ppi scandal i started to look into the Swift charges and noticed i had ppi added, as i was self employed the ppi was invalid and i successfully reclaimed ppi from FSCS as the original broker had gone bust. Then i started looking more closer to the charges added to my account following a SAR request to Swift. Firstly i filed a complaint regarding excessive charges added to the account with Swift of which they dismissed with a Final response so i took my complaint to FOS. After a lengthy battle it was deemed that Swift acted appropriately in managing the account "I have not seen evidence to show that swift was not transparent about the charges or that you have been treated unfairly" is whats stated from FOS in their summing up letter. However as Swift had changed the amount they charge for some of the admin costs they agreed to refund the difference so i received a cheque for approx £900 in 2013. So it seems that despite all the complaining we do not even FOS agree that how Swift conduct their business is unlawful or done in a manner where the consumer is set to fail from the outset. For anyone wishing to know what the letter codes mean then here is an attached document. Im not sure the pdf file loaded properly in previous post. merged.pdf
  5. Hi all I have applied for all my information from Swift Advances, but I think the broker does not trade anymore, so will have to go to FCSC for PPI reclaim I think?. I am not sure how to go about the spreadsheet that is talked about. ...is there a step by step guide, and a copy of the spread sheet? I want to try to reclaim extortionate charges from Swift.
  6. In 2006 I took out a secured loan on my property with swift advances, the loan was £44,000. The loan term was 10 years, with monthly repayments of approx £450. 3 years ago I missed a few payments and fell into arrears with them of £4000 and in 2014 they took me to court in regards to the arrears. I managed to clear the arrears by making an agreement of paying £200 more on top of the original monthly payments. The arrears were cleared but now the term of the loan has ended (in 2016) and I am left with £44,000 still left to pay (somehow??). Swift are now planning to repossess my property next week unless I can pay them the full amount. I have put in the N244 in court today and have my hearing on Monday. I have been in contact with swift for these past few weeks trying to sort out something with them but they aren't listening. I also have 2 acres of land in another country which I have told swift I am willing to sell to pay the amount I owe but it will take a few months for it to get sorted. I have even showed them the documents and letters from the lawyers in that country. But they are still not budging. Can anybody please help with some advice?
  7. In 2007 me and my then husband took out an additional secured loan on our property with swift in joint names for the amount of £10k the money was to do up the house. In February 2007 the loan was granted to be paid back by Feb 2017 in the same year me and my husband split up which resulted in a divorce soon after. I was left with a loan, mortgage and 3 very young children to bring up on my own. I informed the company with the changes in my circumstances but was ignored instead advised that I was liable for the full amount as I was the resident in the property in question. As time went by I paid what I could afford, on many occasions falling into arrears. With the help of family and friends I still managed to pay the out standing amount but could never catch up to the interest and charges put on the arrears. It has now come to the point the contract is due to expire in February 2017 I have already paid the company a sum around £16/17k but the company is demanding a further £24k and has placed a charge on the property. No chance I have that kind of money to pay Swift. I believe the company has been unjust and unfair. They have made no attempts to chase my ex husband for the out standing amount. I need to know if anyone thinks I may have a case?
  8. Hi, i'm new to this forum and need help with what steps to take when dealing with Swift advances! I took out a loan in 2004 for £47,500 in which i had to prove my income by self certification as i was self employed. i started to struggle with the debt so Swift allowed me to take out further advances based on my original proof of income! between april 2004 to november 2006 they allowed me to take out 7 further advances without question, bringing the grand total of the loan to £97,743.00. I then started to fall behind with payments so swift asked me to increase monthly payments. i agreed to pay an extra £50 a month and swift said this would be fine and get me back on track. however a letter arrived to say if i did not pay a further £67 then the approximate outstanding balance would be £49,613 at the end of the loan term! i received this letter in feb 2017 when only agreeing the extra payment at the end of 2016.
  9. Reference Swift Advances Being new to this site, yesterday I posted the following message on the back of continued subject of Swift Advances. I have since been advised to create a new thread on the subject. I have a Secured Loan with Swift Advances, the execution date of which was 31.07.06 The amount of credit for the Loan was £100k On the Statement there is an amount of Credit for PPP in the Sum of £10,696.00 A broker fee of £6000.00 Can anyone advise what the PPP is for - presumably not the same as PPI - I have since been advised that this stands for Payment Protection Policy, which is one in the same as PPI. On the basis that PPP is one in the same, can I attempt to recover in a similar way to PPI Given all I read on this site about Swift Advances, has anyone managed to successful claim against Swift Advances
  10. Hi, I have kept an eye on this forum for a while and, like so many others that have got mixed up with this bunch of lowlifes, I have been trying to stop them getting possession of our home. I haven't posted about this before because this situation is so embarrassing and, also, because I didn't know if Swift spy on these forums. Long story short, Swift have an Eviction Warrant but we managed to get it postponed for a couple of weeks before which, hopefully, we will be able to pay the arrears off. I've read up a lot on here over the past few weeks and followed other peoples threads and I am really hoping for some advice about excessive charges? I have used the Spreadsheets on here and believe Swift have added about £20,000 of charges (without the Interest) over the time we've had the loan and, also, the loan had £3000 of PPI added which I now believe we can claim back as we were led to believe we had to take it and it was not suitable for us. I think i've done the charges spreadsheet correctly but i'm not sure how I do the spreadsheet for the PPI. I think the PPI was supposed to be paid for the first 36 months and then the monthly payments went down. So, can someone tell me how I complete the spreadsheet for this please? This situation is so stressful and we don't know what to do anymore. My husband is so depressed over this and has practically given up but I don't intend to let these ******** take our home without fighting them all the way because they've done nothing the Courts have ordered them to do over the various hearings and, basically, just lie about everything. I would be so grateful if someone could help with with the PPI part of the charges and, possibly, just check over the Spreadsheets I've done for the other charges? I believe, if the excessive charges and PPI were refunded, then our arrears would be nowhere near what Swift say. I'm praying that, if I can work out how to do the spreadsheets, we may have a chance to get the Judge to grant us a hearing. Thank you in advance for any assistance you might be able to give us. x
  11. Hello I am new to this, I have been reading up on your blogs about swift advances they are a force to be reckoned with, if I could get them of my back it would be such a relief. I took out a consolidation loan with them in 2008 which is secured to my mortgage, at that time I was very unsure whether to take the loan or not but with my foolish self listened to the sales person on the other end who suggested I take the loan and maybe in 3 years time I could apply for a further loan at a reduced rate. I accepted., not knowing that I was never intended to pay off that first loan because of their ridiculous charges and interest rate I was desperate at that time and a bit naïve they have taken me to court and applied for repossession but I got a suspended order as long as I kept up my payments there would be no further action, I kept up payments for about six months then I lost my job, I have also got another creditor who has made me bankrupt I have my first mortgage, swift advance and this creditor wanting to sell my house to pay the creditors, I don't want to loose my house I have worked hard to pay for this house and is all the assets I have, its all I have left worth anything to hand down to my children and grandkids. I am supposed to be in court on 2nd of September 2015 for them to seek order for sale. I will fight this even if I have to do it myself. Swift are daylight robbers I owe them more now than when I first took out the loan will never be able to pay it of, I feel sorry for those who have lost their homes to swift, it has to be stopped people are working thinking they will have something to show for it when they retire but that's not what happens. people need their homes swift don't care they need your house to keep them in the money, which is more important don't let them get away with it fight. bankruptcy courts want £36.0000 to pay of my creditors and fees and the rest to go to my mortgage and swift advances. my house is worth £111.000 so I don't get anything after sale
  12. Hi folks First time posting, so apologies if this seems a little amateurish. We had a loan back in 2004 that was spread over 20yrs, but it included PPI that was only going to be "live" in effect for the first 5yrs of the loan and would only pay a maximum of 12mths if I was out of work. We've settled it early but wonder if we can claim anything back ?? As a result of it being included as a front-loaded charge and being spread over the 20yrs, it cost almost £6k more than it would have if we had taken the loan over 20yrs and a separate PPI loan over the 5yrs. Anyone have any ideas if this can be used as a claim for a refund ?? Many thanks
  13. Hi all I am looking for some basic information at this stage about how to handle swift finances. I don't have the exact figures in front of me but here is the background. About 8 years ago I was very stupid and ran up a lot of unsecured debts. In my wisdom I decided to get a secure loan to clear these and this is what lead me to a deal with Swift Advances in the first place. I struggled for years to make the payments till 2 years ago I was made redundant. I was off work for just under a year and fell very behind both with Swift and my main mortgage company. This all came to a head last November when my main mortgage company applied for a repossession hearing. I had at this time just started back at work, I attended court and succesfuly got a suspended possession order and have made every payment since. This feels under control. At the same time, I was in a similar position with Swift. My original fixed payment to Swift was £505 a month. I explained to them my situation and since last November have made payments of £550 a month, so I am meeting my monthly obligations and clearing the arrears slightly. However, because of some £18,000 of charges Swift have added, the interest now means that Swift need a payment of £814 a month to keep the account in the clear. I can't meet this. Every 2 weeks at the moment Swift ring me and we discuss the account and go round in circles. For the past 2 months they are putting a lot of pressure on me to sell the property as they claim it's in my "best interests". The phone call today told me they'd have a valuation done and advise me to sell sooner rather than later, except their valuation is some £50k less than an independent one I had done last month out of interest. Now, I have no intention of selling my home at the moment. It's my home. I have fought long and hard these past 3 years to get myself back on my feet and I think I'm starting to win. But the pressure from Swift is becoming and increasing burden and I'm actually starting to feel very frightened. I am aware that discussing this with them on the phone may no longer be my best course of action. At the moment I have a month by month agreement with them for the £550 but today the girl that rang said they were unlikely to accept this any further and they refuse to discuss further options with me till I speak to my citizens advice bureau "who will likely advise me to sell also"??? What is my best action here, I want to keep paying as much as I can every month to clear the loan and it seems preposterous that the reason the loan is now so high is their so called charges. What written letters would be best to send at this point? Is the CAB likely to be able to help at all for either side? And I have seen others here recommend complaining to my MP? Is that a wise plan? Any advice gladly received.. I feel like I don't know where to start to fight this but I am totally ready for a fight! Thanks for reading!
  14. Hi all. I have just recently registered and been looking through the forums regarding the biggest **** in this country - Swift Advances. I have seen all the help given to people around this forum especially ims21 which I honestly applaud and was wondering if you can help me with this too? I'm doing this for my father who quite frankly is just about managing to keep up with his payments and has been in arrears for quite some time on and off. He has his 1st Mortgage with another mortgage provider Birmingham Midshires - £50,000 in 2005 and this is his second secured loan - £34,995 in 2007. I have recently asked them to send a full statement for all charges etc from when the loan was taken out in 2007 and I am shocked like many on here on these amounts!!! I also asked for a settlement figure and the figures make my mind boggle!!! Original Loan Amount - £34,995.00 Interest Levied (excluding on Charges Incurred) - £32,675.41 Less Payment Received - £35,373.47 Sub Total - £32,296.94 Charges Incurred: Court Fees - £245.00 Tradesmen Invoices - 58.75. Legal Fees - £1951.04 Post Default Collection Charges - £1713.00 Solicitors Charge to Attend Court Hearing - £164.50 Loan Co Admin Charge - R/D Cheque Charge - £264.00 Default Charge - 250.00 Other Fees & Charges - £1106.00 Interest Levied on Charges Incurred - £5466.42 SUB TOTAL - £43,515.65 Add Redemption Administrative Fee - £150.00 Early Settlement Figure - £0.00 SETTLEMENT FIGURE - £43,665.65 I honestly feel so sorry for my father and for everyone out there who deal with these sharks. What I am after with all your kind help of course is to bring this figure down considerably and I don't know where to start. I have however already sent off a SAR request today and I am waiting for their response. Kindest Regards Fay
  15. Hi I took out a loan withSwift Advances which is secured on my property as a 2nd Mortage. I am up to date with my monthly payments and have been for the last 9 months. When my husband & I came out of work previously we got into difficulties and racked up approx £3200 in arrear charges, phone calls, letters etc etc from Swift. I wrote to them saying itwas unfair to levy say £35 for a letter & a £60 fee for account management whilst in arrears. I asked for a full list of all charges to be sent (which I never got!) What I did g et was a letter saying that they were prepared to knock off £750 & interest levied off the £750. I rang the FOS who couldn't help as they said that 2nd mortgages are not regulated(?) by them I wrote back and said I wouldn't agree to just £750 being knocked off and it should be more but I couldn't say too much as I didn't know what they'd knocked off in 1st place!! Now I have rec'd a letter from them which says "We've recently reviewed how payments you might have made towards the fees and charges applied to your loan or refunds we have given you could be applied. In te fuure so that you pay less interest as a result of our review we've reduced the amount of interest applied o your account and have reduced the overall loan balance to£6779,28. All future additional payment you might make towards fees & charges will be applied in this way ensuring you are charged minimal amount of monthly interest." I sent them an email asking a) what was balance before they reduced it b) why have they reduced it (is this the £750 + interest taken off?) c) Will it effect the term of my loan. No reply so emailed them again still no reply Has anyone any idea what they're on about as I haven't a clue!!!! Thanks PAm:???:
  16. Urgent help please, They are at it again, sent then a large payment through chaps payments and 1 minuet before deadline they phone to say they cant accept the chaps because it from a friends account and they need to know all their details, can this be done by them? i paid £23.50 for the service and the bank manager checks everything over then sends it so i would say he has done all the checks and knows both parties involved, they cant accept because of fraud. please help
  17. im just wondering has anyone applied for one of these yet? i know they offer food voucher for living expenses but what about furniture cookers fridges ect ect? especially if there replacing community care grants
  18. Hi I have a Swift loan dated 2007 that is due to be paid out at the end of this month (Nov 2012). The loan has been in small arrears on and off throughout the lending term, though has been always brought up to date, and currently I have less than one payment left on the original agreed amount. Swift however say I owe over £2300 all of which is charges and fees for letters. I have ,admittedly briefly, perused this forum and rang Swift to request a transaction history. I will also make a formal complaint and send copies to both the OFT and FSA. Is there anything else I should be doing? Should I still be paying Swift after the original loan is paid out? As I'm sure you understand this is a secured loan and I am wary as to how to proceed. I am grateful for this forums existence and any replies I receive.
  19. Hi I would like to tell you my story regarding this company. My wife and I took out a secured loan with this company in Feb 2007 for £3000, it was to buy our son a car and it was all arranged through a broker. We believed we were getting a fixed loan over 5 years at £79 a month which was within our budget. After a couple of years the interest rates started to go up nationally, swift contacted us twice in a period of 3 months saying because of the rate rises our payments would now be £87 a month. Although not happy as we thought it was fixed we paid the increase as it was not a massive sum. Also around this time I suffered an injury which left me disabled and unable to work, we were having to survive on my wifes salary so some of the payments to Swift were late. No more than 5 were late but they were all paid in full and so were the £23 in charges they applied each time. Eventually I manged to get my benefits sorted out off the DLA and the DWP, my wife had to go part-time because I need alot of care. Now our finances were sorted again, we never missed another payment to them, and were looking forward to the end of the loan in Feb 2012. In January we got a letter off them saying that when the 60th installment was paid in February, we would still owe £6000. I was totally baffled and contacted them and it seems the sums we had been paying every month were not enough to cover the loan despite us paying the sums they told us to. They also claimed there were costs incurred by them for the use of a solicitor twice, despite the fact that we never had any contact or letters from solicitors representing them. After telling them we were making no more payments they said as a gesture of goodwill they would knock £600 off the total, I refused and said I would contact the FSA. It has now basically taken the FSA 4 months to decide that I should be offered £750 instead of £600 they offered. So there you have it, we borrow £3000 and have paid back over £5000 yet we still owe them £5250 if we accept the goodwill gesture of £750. I don't know what to do next, as stated it was a secured loan so in theory they can take our house off us. We cannot pay the money back as I will not be able to work again, and as a principle I don't think I will pay them anyway. Any suggestions for my next route? thought about my MP or trading standards, surely this can't be legal it's worse than a High Street loan shark?
  20. Hi all, my name is Donal I live in County Down Northern Ireland. I am 30 years old and still live with my parents, I should be in my own place but that just doesnt happen in this day and age. I have four younger brothers all in their 20s and we are all on the same boat, my parents are happy with us at home and have never forced or asked us to leave. My dad is a carpenter and has worked his ass off all his life and my mum is a nurse who also has worked quite hard to keep our large family ticking over. My parents have got them selves into bother with swift and owe them over 40 grand because of charges, now I dont know what these charges are or how they came about but this is the way with these cold hearted **** bags. They have been threatened in the past with court action and have also had people from the courts out to the house to talk things through but nothing has ever came of it. My mum got a letter a week or two ago from these cretins to say they wanted to work out a deal so my mum went through the online application of budgets and all that, they got back to her on Monday past and told her they were willing to negotiate a deal if they paid 5 grand up front and then said there will still be a chance that you will lose your home. Today is the first day that we have truelly started to pack up our belongings and move to our rented property, we have to be out by Friday 21st or there will be people at the door asking us to leave. So rather than cause a scene and embarressment we are just going to pack up and go. If only I knew sooner about this board then things might have been a little bit different or maybe not. I dont know. I just thought I would share with everyone how sadening and soul destroying this is and I know my dad will never get over this, they have turned him to a broken man who has always been so happy and proud. Regards Donal Trainor.
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