Swift Advances. Secured Loan Charges reclaim

[overdone]

Freedom of Information Act only applies to government offfices.....it does not apply to private firms and companies.

 

sparkie

Not quite. A PLC is more open.

[Sparkie1723]

.Freedom of Information Act

The basics

 

The Freedom of Information Act deals with access to official information and gives individuals or organisations the right to request information from any public authority.

Your right to know

 

The Freedom of Information Act gives you the right to request information held by public authorities, companies wholly owned by public authorities in England, Wales and Northern Ireland and non-devolved public bodies in Scotland.

Your legal obligations

 

All public authorities and companies wholly owned by public authorities have obligations under the Freedom of Information Act. When responding to requests, they have to follow a number of set procedures.

[Marky1701]

I have it on record in court documents that the cost of Swifts funding is governed by LIBOR................and we can all see from their companies accounts that they borrowed at a FIXED rate of interest ....what this means is if they borrowed £400.000.000 pounds it does not matter if LIBOR goes up or down their rate of interest stays the same........therefore the cost of their funding on that particulare loan NEVER increases.

 

By increasing borrowers rates from funds that were obtained from that particular funding is deception in telling borrowers their costs of funding has gone up when the LIBOR rate went up is a lie ......because their costs were/are fixed, and the LIBOR rate does not affect does not affect their borrowing.

This definately falls into the unfair relationship of the CCA 2006

 

Granted if they borrow more money at a different fixed rate and lend that out then the rate they lend at would be different......but in my opinion if their rate is fixed its fixed.

 

sparkie

Hi All,

 

Sparkie, can you post that document on here? - I am compiling a case to the OFT regarding this and this sort of evidence would be brilliant.

One other thought about these very high rates - if you are on a variable rate loan the settlement figure would be racked right up as well if the rates are high, as this figure is partly based on interest due to be paid over the term of the loan - thats like not only sticking the knife in but giving it a twist for good measure.

[Sparkie1723]

HI Marky1701,

 

Ihave had that stated under oath by Mr Mark White the Risk Manager of Swift for over 15 years and a record of it in my Judgement summary.can't get better evidence than that can we?

I can send you the relevant page by E-mail if you send me your email address .................... send it by PM

 

sparkie

[dazpen]

does anyone no how heath case went?

[pkelly]

Hi Folks

Does anyone know when the cases are taking place in N Ireland High Court I though one was this week sometime?

would love to have gone over to it, I hear the TV crew were wanting to cover it,

[Sparkie1723]

Hi Folks

Does anyone know when the cases are taking place in N Ireland High Court I though one was this week sometime?

would love to have gone over to it, I hear the TV crew were wanting to cover it,

 

I heard the same that it might be spotlight or watch dog

 

sparkie

[pkelly]

yep Spotlight but Panorama as well this guy has inside contacts with them in fact has been on himself in the past, I believe they are fighting to hold them back from blowing the full story before the high court

[Jacquiac01]

That sounds really interesting, are Swift people making an appearance also?

[Sparkie1723]

That sounds really interesting, are Swift people making an appearance also?

 

Both Mr Webster and Mark White are most likely to be subpoenad to attent the full hearing at a later date or so the grapevine has informed me.

 

sparkie

[sweetjane]

I see 9 cases up on Friday in the Court of Judicature of Northern Ireland. Swift 1st - 3, Swift Advances - 6 - If any one is reading this - good luck we're all supporting you.

[pkelly]

Hi Folks

I just got a wee pm from our inside friend saying the case is not on in N Ireland we have been waiting for, never got the reason but not sure if its true or not, has anyone heard anything I have lost my contact with those guys I actually thought one of them was abroad living now?

[pkelly]

I see 9 cases up on Friday in the Court of Judicature of Northern Ireland. Swift 1st - 3, Swift Advances - 6 - If any one is reading this - good luck we're all supporting you.

hi can you pm the site where this is on, I cant find it anywhere?

[Doc2527]

I count 40 Swift cases appearing before the Master from 15th Oct to 22nd Oct. 2009

 

This is obscene....I don't know what monies are involved in the claims.....but this is 40 peoples lives that are being put through hell.

 

And this is only in a 7 day period....how many are being put through in a month a year....and this is only in Northern Ireland....what the heck are the figures across the UK???

Edited October 15, 2009 by Doc2527

[sunray001]

Hi Doc, Are you Doc Who?? You should know the master pretty well then?

 

[Doc2527]

LOL !!!!

Nobody knows what my Tardis's secrets are!!!

[sweetjane]

hi can you pm the site where this is on, I cant find it anywhere?

 

 

I've pm'd you PK

[Guest blackie]

I have not been on the site for a while, but it seems to me that things are starting to move, good Luck to everyone who is involved with these monsters Swift. I was recently in court Swift trying to repossess my house. I was lucky I got a decent judge so have a suspended order. But again their solicitor went on about the cost of borrowing when the judge questioned him about their high interest rates. I feel as if I am on a stay of execution, Swift will eventually get me. But I don't want to go down without a fight, so any information anyone has would be really appreciated.

[Sparkie1723]

I have not been on the site for a while, but it seems to me that things are starting to move, good Luck to everyone who is involved with these monsters Swift. I was recently in court Swift trying to repossess my house. I was lucky I got a decent judge so have a suspended order. But again their solicitor went on about the cost of borrowing when the judge questioned him about their high interest rates. I feel as if I am on a stay of execution, Swift will eventually get me. But I don't want to go down without a fight, so any information anyone has would be really appreciated.

 

Hi Blackie,

The fact of the matter is all the way through their accounts Swift say that they borrowed money at a fixed capped rate of interest, and I have it on oath .........at last .........that the cost of their funds is depenadnt on one thing only ...The LIBOR rate of interest....no matter what they try to and say from now on ...that is fact ...if they try to say different their Witness is in bigger trouble than he is now:cool: anyone who wants the page that confirms this just ask.

Kestrel Holdings the owner of the whole lot ...state even clearer that the whole group borrow at a FIXED RATE of interest. so any increase in LIBOR did not affect their costs at all as they woffle on about........ they just took advantage and increased their interest when ever they wished ...but now they have been caught out....anyone facing Swift in the future can use this as an unfair relationship and an unlawful way of squeezing more money out of borrowers by abusing their position of power.

 

 

 

sparkie

Edited October 16, 2009 by Sparkie1723

[determindator]

Hello Sparkie,

 

This is a major step forward being able to prove an Unfair Relationship. I am hoping this type of extortion being exposed in this way will instigate Government regulation. More progress has just been made towards regulation of mortgage companies lending irresponsibly. I will chase up the email I mentioned in PM as I'm concerned when I read on posts that one minute there's Court Cases, next there aren't and mysteries within the TV industry. So, I'm getting 'me' shovel to start diggin!

 

P.S Don't know if the 'L' word is ok to use so i'll say when I voiced my concerns a few years back with Swift, concerning interest rates, they were ''incorrect' in their reply informing me Swift have to adjust the interest rate accordingly as the rate they borrow from the Bank (Barclays, as far as I know. maybe they can help with the enquiries!!) increases. I did ask if it works the other way when interest rates decrease. Apparently, it doesn't. I have always argued what is the logic of lending high to those who can least afford it. Madness.

Edited October 19, 2009 by determindator

[Smarterchick]

I count 40 Swift cases appearing before the Master from 15th Oct to 22nd Oct. 2009

 

This is obscene....I don't know what monies are involved in the claims.....but this is 40 peoples lives that are being put through hell.

 

And this is only in a 7 day period....how many are being put through in a month a year....and this is only in Northern Ireland....what the heck are the figures across the UK???

 

What about a letter to the Lord chief Justice with a counter copy to Vince Cable and a number of others? HE needs to write to ALL judges stating exactly that these agreements are unlawful in the main and EVERY Swift loan should at least be stayed until they have had a chance to be checked over by a solicitor. This could be Corporate fraud if we are proved right.

 

How many staff in Swift would allow their families to be treated like this?

 

Keep coming forward Swift staff - this could be YOUR mother and father, sister, brother, aunt or uncle - This is NOT just a job - if you have any kind of conscience come forward and offer your support to us like a number of others already have, past and present. DO IT - before one of your own are forced unlawfully from their homes.

 

SC

[determindator]

It would be constructive and helpful to the Economic recovery of our Nation, if a National newspaper would investigate and write an expose on the mass extortion by these unscrupulous lenders, which is being allowed under the present rules. Whilst borrowers are laden with unnecessary debt (flick of a switch to a lower interest rate seems the way) they are not contributing to the economy so it's liquid, creating jobs.The wealth stays in the hands of those who brought the world to it's knees in the first place.

[Sparkie1723]

Some of the Swift staff have just realised that calculating the average wage and salary from their yearly accounts ....the "AVERAGE" wage and salary of the 123 staff there is sated to be over £800 ........but we know some are nowhere near this figure............... and believe they are not "happy bunnies".....how many make a bakers dozen?.....not many to go now.

 

sparkie

[Marky1701]

Morning All,

 

As a courtesy I have pm'd you Sparkie.

 

m

[Sparkie1723]

JUst to let folks know I made a complaint to the Bar Council about the conduct and handling of my defence ( the reasons I sacked him) the Bar Council are carrying out a big investigaton into the whole case....I sent the a copy of the Judgement summary and brought their attention to a lot of issues....the Bar Council have now sent for a transcript of the whole proceedings ....something they do not do often.

 

They are sending me a copy of the whole procedings ....in that will be EXactly word for word what was said by Mr Mark White under oath and will be of great benefit to all Swift customers who have had this person give evidence at their harings in the past or present or future...restassured on that people.

Do not give up

 

sparkie