Swift Advances. Secured Loan Charges reclaim

[Sparkie1723]

Hi pkelly,

 

The lads over there have just sent me another witness statement made by Mark White in ANOTHER court case in which he has repeated the same false misleading statements in that case also ........send me a PM and I'll tell you all about it ...I know that you are not actually involved with Swift ....but want them found out at last.......you could nip down and see them ....if you are still over there and not on your "out and about travels" ....where are you off to next Amsterdam?....they do smashing guiness sausages:D:D

[pkelly]

was just about to say I am sitting a coffee in Schiphol, but you beat me too it. that was some guess sparkie at least I hope it was a guess

[pkelly]

must get up to speed with them sparkie, lost contact as last while,

yep send it over will pass the time, they say time flys swiftly at airports lol

[Sparkie1723]

must get up to speed with them sparkie, lost contact as last while,

yep send it over will pass the time, they say time flys swiftly at airports lol

 

 

On its way mate....don't spill your coffee over it choking on what you read.

 

sparkie

[pkelly]

:Dgood man will save them and read them later send asap boarding shortly must run chao

[Sparkie1723]

On checking the Swift website it has been noticed that they state clearly that THERE ARE NO UPFRONT FEES.

 

Now we all know that they add brokers fees and other fees ( legal & indemnity title fees) to the loan you apply for ...this means that there are up front fees.....you have to pay these before you get your cheque.

 

Therefore this advert on the internet is misleading, false and contary to the Misrepresentation Act ....and made to entice borrowers into agreements that are not fully explained....this must be brought to the attention of the OFT Fast.

 

sparkie

[Guest blackie]

Just visited the Website you are quite correct, it does state no up front fees, it also says they treat their customers like people, and they understand. What! utter Cr-p. False advertising or what.

[Sparkie1723]

It appears that Swift are not opening my e-mails so I'll post this one to Mr White here there may be a chance that someone from Swift stumbles on this thread by accident, and pass it on to him.

 

sparkie

 

Dear Mr White,

You will no doubt have a copy of your “Witness Statement of Truth“, made in our possession claim by Swift, I draw your attention to the paragraphs below I ask you to read exactly what you stated and then my observations following in blue for ease of reading

 

18. The APR is not a required term of an unregulated Credit Agreement. However the Claimant has provided an APR rate to assist the borrowers to understand the interest applicable on this loan. The APR, as set out in the Consumer Credit Act 1974, is an expression of the effective interest rate and takes into account one time fees payable at the beginning of the agreement. It is therefore by its nature higher still than the interest rate on the Agreement.

 

1...I concur that The APR is not a required term of an unregulated Credit Agreement.

However you have stated that the interest rate I disputed (10.3%) was in fact and in truth (as it is contained in your statement of truth as a rate calculated as an APR)

 

However you then go on to say and takes into account one time fees payable at the beginning of the agreement. That is not correct Mr White as this calculation would have given and APR rate of 15.4 %.

19.The Defendants dispute the APR but do not provide any contrary calculation nor do they state what they consider the true APR to be. I now produce various letters that were sent to the Defendant in relation to the administration of this account (pages 36 of 66 "MW1").

 

You have stated above “I have considered the APR and find it to be correct” . I note that you boast of a BSC in economics and that you worked for the Nat West Bank Ltd then as such you of all people would know that you have again made another false misleading statement, one that the Recorder accepted, you did not take into your calculations the “one time fees payable at the beginning of the agreement” they have been deliberately omitted, this enables the APR to be shown Incorrectly. If these fees had been added and included an APR of 15.4 %. would have been calculated.

 

You will again be called on to explain why you misled the Recorder on this point, this is a discrepancy of some 5.1%

Your sincerely

 

SPARKIE

Edited November 2, 2009 by Sparkie1723

[Sparkie1723]

Come on teacher I'm waiting:D:D;)

 

 

sparkie

[Smarterchick]

It appears that Swift are not opening my e-mails so I'll post this one to Mr White here there may be a chance that someone from Swift stumbles on this thread by accident, and pass it on to him.

 

sparkie

 

Dear Mr White,

 

You will no doubt have a copy of your “Witness Statement of Truth“, made in our possession claim by Swift dated xx/xx/xxxx. I draw your attention to the paragraphs below and I ask you to read exactly what you stated and then read my observations following in blue for ease of reading and I quote:

 

"18. The APR is not a required term of an unregulated Credit Agreement. However the Claimant has provided an APR rate to assist the borrowers to understand the interest applicable on this loan. The APR, as set out in the Consumer Credit Act 1974, is an expression of the effective interest rate and takes into account one time fees payable at the beginning of the agreement. It is therefore by its nature higher still than the interest rate on the Agreement."

 

1...I concur that The APR is not a required term of an unregulated Credit Agreement.

However you have stated that the interest rate I disputed (10.3%) was in fact and in truth (as it is contained in your statement of truth as a rate calculated as an APR) (was what sparkie???)

 

However you then go on to say " and takes into account one time fees payable at the beginning of the agreement" . That is not correct Mr White as this calculation would have given and APR rate of 15.4 %.

19.The Defendants dispute the APR but do not provide any contrary calculation nor do they state what they consider the true APR to be. I now produce various letters that were sent to the Defendant in relation to the administration of this account (pages 36 of 66 "MW1").

 

You have stated above “I have considered the APR and find it to be correct” . I note that you boast of a BSC in economics and that you worked for the Nat West Bank Ltd then as such you of all people would know that you have again made another false misleading statement under oath, one that the Recorder accepted, you did not take into your calculations the “one time fees payable at the beginning of the agreement” they have been deliberately omitted, this enables the APR to be shown Incorrectly. If these fees had been added and included, an APR of 15.4 %. would have been calculated.

 

You will again be called on to explain why you misled the Recorder on this point, this is a discrepancy of some 5.1% and you will be aware of the consequences of that of course?

 

Yours sincerely

 

SPARKIE

 

 

Okay?

[Sparkie1723]

Cheers S/M/C:) ...much better when letters are checked

 

will ammend my original and off it goes

 

sparkie

 

"However you have stated that the interest rate I disputed (10.3%) was in fact and in truth (as it is contained in your statement of truth as a rate calculated as an APR) (was what sparkie???)"

 

 

Amended

1...I concur that The APR is not a required term of an unregulated Credit Agreement.

However you have stated that the interest rate I disputed stated in your witness statement as 10.3% was in fact and in truth correct (as it is contained in your statement of truth as a rate calculated as an APR) .

 

When it most certainly was not! It is stated on the agreement and in another section of your statement as 9.84%

 

Edited November 2, 2009 by Sparkie1723

[Smarterchick]

Cheers S/M/C:) ...much better when letters are checked

 

will ammend (amend ) my original and off it goes

 

sparkie

 

"However you have stated that the interest rate I disputed (10.3%) was in fact and in truth (as it is contained in your statement of truth as a rate calculated as an APR) (was what sparkie???)"

 

The 10.3% APR he stated as to be true and correct, when it wasn't....sparkie

 

 

"However you have stated that the interest rate I disputed (10.3%) was in fact and in truth (as it is contained in your statement of truth as a rate calculated as an APR) (was what sparkie???)"

However, you have stated that the interest rate I disputed (10.3%) was in fact and in truth..????? What...???

...was A fact in truth?

... was a fact and in truth what the agreement loan interest rate was???

(as it is contained in your statement of truth a rate calculated as an APR???)

I can't quite get my head around these statements Sparkie...maybe it's cos I'm from Telford and you are from Chester...maybe it's M54 speak...you being up there on the M56...?

[pkelly]

Hi Sparkie

Just read that stuff you sent me, and you said this is only the tip of the iceberg you are sworn to silence by the bouys in NI :eek:

 

and their legal team you say have been told nothing, lol I am not supprised, maybe its just as well, otherwise they would have to turn even this stuff over to the auld Bill,

how on earth did they get off with this for so long????

 

 

would love to be at that courtcase but I cant ever see it going to court, even with the bits you sent, it will be the clink for you know who

no wonder it was called off last time

 

will shred this mate and tell me no more,

ps was that a guess you saying I was in Amsterdam or did you pick up a trick or two when in Eire?

[dazpen]

Hey Sparkie are the findings you have got going to be of benifit to everyone?

[Smarterchick]

Things going on will benefit everyone I am sure.

 

One thing that does concern me a little is quite what the staff there in Arcadia House are beginning to think between themselves. These account holders could be family of theirs and the actions being undertaken by members of staff are effectively having a consequence for some of them, that must be happening. And what of the consumer pressure coming their way, does this affect their mind sets?, work patterns?, stress? Families when they take their working day home?

 

[EDIT]

 

Sorry, I ramble. In my mind sometimes I am just thinking what some of the innocent people in Swift do just to protect the alleged rogues at the top...for what? :-| They'll ditch you as soon as you blink.

 

SC

Edited December 14, 2009 by alanfromderby
spelling mistake sparkie!!

[pkelly]

Things going on will benefit everyone I am sure.

 

One thing that does concern me a little is quite what the staff there in Arcadia House are beginning to think between themselves. These account holders could be family of theres and the actions being undertaken by members of staff are effectively having a consequence for some of them, that must be happening. And what of the consumer pressure coming their way, does this affect their mind sets?, work patterns?, stress? Families when they take their working day home?

 

What of the likes of this fellow Mark White - talk of his performance in court amongst you must put pressure on him - I wonder what his wife and children will be thinking with the talk of him being prosecuted possibly for false statements - going to jail? Goodness, I wouldn't want to be thinking like that about my future. How many people who he seems to be protecting are actually going to be at his side helping him when the fan gets hit with all this...my experience tells me Mr White is going to be a very lonely fellow when they are looking to find a scapegoat...what do you feel Mr White I wonder? 15 years employment with Swift and a qualification in economics won't get you far when they look to point fingers you know?

 

Sorry, I ramble. In my mind sometimes I am just thinking what some of the innocent people in Swift do just to protect the alleged rogues at the top...for what? :-| They'll ditch you as soon as you blink.

 

SC

 

thats funny I just posted this an hour or so ago, not as well worded though but same thoughts

this was the post

 

whats the big prize lads, looks like it will be a race to see who holds up Mr Whites scalp lads

I cant see how on earth he get out from doing time, one things for sure NO ONE else will take the wrap for him,

If I were in his shoes I would look for a way out, no amount of money or letters after his name will be any use to where he is going.

 

I would not want to sell any of you boys a hard loaf. lol :-|

 

seriously lads and lassies get your inside contacts to have a wee word with White, someone will eventually come in from the cold, although the funny thing is you dont need them.

I dont know who your guys are, or how you got all this stuff, and I know nothing really,

However I tried to help out at the early stages and can act as a go between if you want, as long as I get at least a walk on part in Sparkies goes to Holywood DVD.

KEEP UP THE GOOD WORK FOLKS

[pkelly]

Hi Sparkie will be in Germany tomorrow will look up that no for you

Edited November 3, 2009 by pkelly

[Sparkie1723]

Hi Spark`s

HUllo pkelly

 

You not gone away again yet, thought you were offto Mddle East today

 

sparkie

[Sparkie1723]

Seriously though pkelly....I do sometimes wonder if the staff really at Arcadia House realise that Swift are applying for about 40 peoples homes a week in N.Ireland, that's what it was at the last count. How would they feel if it was one of their families homes?

 

sparkie

[Marky1701]

Personally, I dont give a sh*t about what happens to White & Co - let 'em burn for all the misery and hardship they have created for a huge number of people.

[pkelly]

hard to believe,

would love a second place there myself `her indoors` is from Belfast, love it when I am posted there,

wonder if your Holywood brokers could get me a loan to get a wee nest?

[pkelly]

whats the story about the bouys over there setting up that website with all swifties details on it, is it allowed? is something like the cabot site from what I hear, and they finished them off with it, was it you who told me about it:-|

[Sparkie1723]

We have documentary evidence to prove that on a certain Swift loan that the following amount which consisted of Brokers Fees ( Paid by the borrower) [EDIT] the Total that this Agency received on this one agreement was over £12.000.

 

Note this completely contradicts Mark Whites statement under oath ..that "Swift do not operate agencies as such"...... we have it in writing by a director of this particular agency, that they do operate agencies and he is willing to go to court and tell the court so ....this will be in the HIgh Court very soon.

 

This man is in for serious trouble......an accountantant has been sent to prison for making false statements in a signed statement of truth.......Mr White swore this on oath......if I was him I would be worried..... as has been stated in previous posts, his bosses will ditch him at the last minute, desite what he is being told.....its a fact, and hazard of ........life in the fast lane.

 

Now who pays all this ....Swift DON'T that's for certain ...the borrower does in the severe high rate of interest charged .....their interest rate is high but not for the reasons they give ...it's to pay the agents their EXTRA BUNG for placing business with them..........not the actions of a transparent, fair company, who conceal all this from the borrowers.

 

This is the reason that their interest and charges for letters etc etc are so high ....that is how they claw this money pack.

 

sparkie

Edited December 14, 2009 by alanfromderby
additional info

[Sparkie1723]

Can I ask all Swifties a question ...a very important one....Did you receive a letter from Swift approximately 4 to 6 weeks after you signed your agreement stating words to the effect ........that they had absorbed previous interest rate increases but regretted that they have to increase the interest rate on their loan due to a rise in LIBOR rate of interest?

 

sparkie

[Marky1701]

Hi Sparkie,

 

I have had a couple of letters like that, stating how gracious they had been thus far in absorbing previous rate increases, (how lucky am I?) but there was never any mention of LIBOR - from memory it was just stated as interest rates.

 

Incidentally, if anyone has a letter stating that they put rates up on the back of LIBOR I could really use a copy!!

 

I wonder what their repo statistics are like in the rest of the UK given the horror story in NI?

 

For what its worth Sparkie, I once worked for a financial adviser who placed loans (mostly adverse credit) with various companies (Swift not being one of them) but they do earn a commission, and it worked on a very simple formula - the greater the interest rate, the higher the percentage commission the broker earns on the amount borrowed, and that could be anything up to 15% - it was common practise then but I have been out of the industry for many years so I dont know if thats the case now.

Edited November 3, 2009 by Marky1701