Swift Advances. Secured Loan Charges reclaim

[Sparkie1723]

Iknow I have posted this in bits and pieces before ..but this is the lot together........... to be argued by a Barrister, the best one I can get

 

 

1...When I mentioned commission and said Promise Finance were agents of Swift, and challenged him when he was on the Witness stand

Mark White said that they were not their agents they were our agents as Swift do not operate agencies

Not true………….Swift do have agencies and I have the proof of that fact.

I also have evidence that no other lender was contacted, Promise went straight to Swift.

 

2...When I challenged him and said we had been misled by the fact that the total loan shown on our agreement was not shown as the correct figure of £46.955 we had been misled into borrowing, it only showed £43.000 and that £ 3955 had been added outside the agreement.

 

3...Mark White said that Regulation barr a creditor from adding these to the loan.

A)…There are no Consumer Regulations that apply to unregulated agreements.

( Only the UTCCCA’s and section 140 of the CCA.

Even the Recorder stated so ………which was a contradiction to both Mark Whites statement under oath and statements he himself made in the Judgement summary.

b)…I now have 3 Swift agreements that have added these charges to which Mark White said could not be done because regulations state they can’t be added.

He therefore deliberately misled the Recorder as well as us.

 

4...Mr White stated that Swift do not pay commission

I have absolute proof they do.

 

5...Mr White stated in his witness statement of truth that the interest rate shown on our “PARTICULAR” agreement was shown as an APR % rate to show us ( the borrowers what rate were in fact paying

a)…If this was true then the APR would have been 15.4% it was deliberately misstated to make the rate look more attractive to us.

 

6...Mr White said that he had considered and checked the APR and found it to be correct.

It was not correct and he knew it wasn’t, remember he holds a Bsc in Economics.

 

7...When questioned about the increases in interest rate he kept saying that there were a number of factors involved in the cost of their funds, but never specifically explained them.

a)…Completely and deliberately attempted to mislead the Court, and finally admitting that the cost of their funds are governed solely by the LIBOR rate of interest.

b)…Even this is incorrect because Swift borrowed our funds at a fixed capped rate, once borrowed their costs are fixed.

c)…It is only any new borrowings by Swift that could possibly increase but not the funds from which our loan was drawn from

 

All this either under oath or in statements of truth

 

sparkie

Edited December 7, 2009 by Sparkie1723

[Sparkie1723]

The least we will be claiming back is

 

Our fees and charges on the loan £ 3955.00

Interest @ the correct APR 15.4% £ 892.49

Total £ 4,847.49

 

Plus all penalty Charges applied..Cant work those out yet because they have never supplied the details of them.

 

By the time all these are worked out I estimate that we will owe Swift about £20.000.

Not what they will be trying to claim we owe.

I think our case will be of more substance than the Bentley v Blemain settlement ..I want our case to go in front of the High Court

 

PS

Letters and docs gone off to the FSA and the OFT gauranteed delivery tomorrow and marked for extremely urgent attention

 

sparkie

[Sparkie1723]

HI JOES MY LAND LORD

 

I have only just noticed your other thread..................if there is anything on my thread that you think can help you..... use USE it.

 

Haven't had the Court Order yet from the Courts

 

sparkie

[Sparkie1723]

sparkle must be reading as a guest!!

 

Yes just checked viewing as a guest!!!!

 

I did say "Guest":)

Edited December 7, 2009 by Sparkie1723

[frettful38]

This is excellent information that sparkie has gathered. I sincerley hope that he wins the battle he has begun. I for one have learned a lot from him. Well done sparkie the work you are doing is great, I know you get ups and downs but believe me in the end it will be worth it.

If you believe you are right then you have to fight, sometimes no matter how hard it gets at times. But upward and forward is the way to go if you want any kind of justice nowadays.

I have been reading this thread with great interest, and I am busy on my own probs at the mo but I am very glad to see how far things are going and progressing.

 

Good luck sparkie and keep up the good work.

[midge61]

Hi sparkie

 

Can you not get them for mis-selling because of your age when they gave you the loan? Surely this means they did not do correct affordability checks as you were already over the retirement age.

 

Sorry if you have already covered this just trying to come up with different angles for you.

[Sparkie1723]

Hi sparkie

 

Can you not get them for mis-selling because of your age when they gave you the loan? Surely this means they did not do correct affordability checks as you were already over the retirement age.

 

Sorry if you have already covered this just trying to come up with different angles for you.

 

Thanks midge

Thats just one of the points I have against them .and I do have a mountain of them.................if they had done their checks and sums they would /should never have lent us the money ...........if I could have carried on working there would have been no such problem but I realise that one cannot work for ever no matter how fit you think you are ...No matter what happens my case WILL get to the High Court.

 

sparkie

Edited December 7, 2009 by Sparkie1723

[Sparkie1723]

This is what Mark White stated in his witness statement of truth.....This is for sparkles benefit

 

Para 17

" I now wish to explain how the interest rate is calculated on credit agreements.The interest figure shown on the agreement (OURS) is the nominal rate of interest on the loan"

(He even says ( implies) here he is explaining how ALL credit agreement interest rates are calculated even ones he has no clue about).

 

Para 18

" However the Claimant has provided an APR rate to assost the borrowers to undersatand the interest on this loan"

 

Para 19

 

"I have considres the APR and find it is correct"

 

There is only 1 rate of interest shown on our agreement 9.84% variable.

 

It does not say what it is.

Both Mr White say in their statements of truth that it is a nominal rate which is completely different than an APR .........it is allways lower than an APR.

 

Then Mr Wite contradicts both Mathew Payne and himself and again under oath by saying .................on our particuar ageement.............. that this rate is shown as an APR and is an APR and he has considered it to be correct.

 

BACHELOR OF ECONOMICS and he can't calculate APR's.

 

There you are sparkle72 explain that...... Also ask Mr White where the 0.82% monthly rate is shown on our agreement that he says is there. ......Maybe he will tell you because he won't tell me

 

If anyone has a case for Unfair Relationship I must be getting near the top of the list.

 

sparkie

Edited December 8, 2009 by Sparkie1723

[Sparkie1723]

Here is a statement from Swift that I think will be useful for all Swift Customers.

 

" Althiough we usually aim to move our rates to follow the movement in bank base rate this is no always possible .

 

Isn't it strange that it is ALLWAYS possible to increase it but it is allways IMPOSSIBLE to reduce it............... especially when we have Absolute confirmation from Mark White under oath that the cost of their funds are solely governed by the LIBOR rate of interest.....and as we all know it has dropped since 2007 to lower than it ever was when most signe their agreements and now stands at

0.6075%

 

Quote from Money Mail source

 

The important three-month sterling Libor rate remained at 0.6075%, announced on Tuesday, 8 December.

It fell to a record low of 0.54% on 28 September, bobbed around that mark for a while and has since begun to edge higher.

 

Another pointer to an Unfair Relationship

 

sparkie

Edited December 8, 2009 by Sparkie1723

[andrew1]

Sorry to pick you up on your Spelling sir

 

" especially when we have Absolute confirmation from Mark Whitebunder "

 

you left the 'l' out in the last word....

[Sparkie1723]

quote=andrew1;2633011]Sorry to pick you up on your Spelling sir

 

" especially when we have Absolute confirmation from Mark Whitebunder "

 

you left the 'l' out in the last word....

 

 

:DI didn't leave an l out................ I inserted a b before the ..."under oath":-D:-D:-D

And as the banks say .........It was just a "typographical error" as we all have had it explained to us as such:-D:-D

 

sparkie

[Sparkie1723]

Check out the LIBOR rate history ...WE signed our agreement in April 2007

From April 2007 to August/Sept Swift put our interest rate up by 0.85%

 

When it is clear that in this whole period .It only went up by 0.1355%

 

http://www.wsjprimerate.us/libor/libor_rates_history.htm

 

Abuse of position doing what they like!...! "Not cricket even with a baseball bat"

 

sparkie

[andrew1]

quote=andrew1;2633011]Sorry to pick you up on your Spelling sir

 

" especially when we have Absolute confirmation from Mark Whitebunder "

 

you left the 'l' out in the last word....

 

 

:DI didn't leave an l out................ I inserted a b before the ..."under oath":-D:-D:-D

And as the banks say .........It was just a "typographical error" as we all have had it explained to us as such:-D:-D

 

sparkie

 

 

Sorry, I thought his name was Mark Whiteblunder - seemed appropriate

[frettful38]

Hi sparkie sorry to go off track with what you are doing with swift at present but I wanted to see if you could shed some light on my interest rate with Blemain Finance. As you are posting about the interest rate that swift are suppose to cover I wandered if Blemain Finance would be similar.

Blemain Finance have stated to me in their letter that they are similar to Swift so I wandered if their interest rate system was similar to.

 

My loan agreement states about interest rate:

 

"This is a Variable Interest Rate loan. The Concessionary Interest Rate charged in the first 3 months will be 0.00%. After this period, there will be a Discount of 2.00% off the Annual Nominal Rate for 12 months giving a rate payable of 7.80%. When the Discount period ends, we will charge interest at your Annual Nominal Rate which is currently 9.80% for the remainder of the loan term. This is a Monthly Rate of 0.82%."

 

I do not have a clue what the above means. Is my interest rate linked to the Bank of England or Libor? My loan repayments have been exactly the same since January 09. Last year I paid the same amount in installments each month. Basically what I mean is since taking out my loan the repayments have never come down. I would be very grateful if you could help or point me in the right direction.

 

Like I said earlier I apologise if I have gone off topic. Thank you for all the help you have given and advice so far.

 

Take care.

[Sparkie1723]

HI fretfull.

 

If I can be of any use

I'll get back in touch later fretfull and try and see what we can see with your interest rates.......mean while things are beginning to look up for me a little I have been a bit quiet ......................but have been making further enquiries with other law firms wh do legal aid and on the very brief scenario put to them I now have another 3 law firms staining a little at the leash to take my appeal on.

 

First appointment with one tomorrow at 9.00 am. ................Client Cartell have told me they will stay the possession order free of charge.......... and then proceed from there should I not be confident in the firm I see tomorrow.

 

Things are looking up most of them are interested in the statements made by Mark White:cool:

 

Just sent them one or he made ...one solicitor chuckled and said that's a VERY VERY interesting aspect come and see me. I will always be available for you in this instance

I'm feeling much better now.

 

sparkie

Edited December 9, 2009 by Sparkie1723

[Gallahad]

I'll get back ibn touch later fretfull and try and see what we can see with your interest rtes.......mean while tings are beginning to look up for me I have been a buit quiet but have made further enquiries and on the very brief scenario put to them I now have another 3 law firms jumping at the leah to take my appeal on.

 

First appointment with one tomorrow at 9.00 am. ................Client Cartell have told me they will stay the possession order free of charge and then proceed from there should I not be confident in the firm I see

tomorrow.

 

Things are looking up most of them are interested in the statements made by Mark White:cool:

 

Just sent them one or he made ...one solicitor chuckled and said that's a VERY VERY interesting aspect come and see me. I will always be available for you in this instance

I'm feeling much better now.

 

sparkie

 

thats great news Sparkie about time things started to swing your way good luck

G

[frettful38]

Wicked sparkie I and a lot of people wish you the best, god knows you deserve it after all the head stress you have put in. Hopefully this will be front news headlines. I can't wait personally to see what happens.

I will be watching with great interest.

 

Keep up the good work, we all are with you and support you

[landy_alert]

HI fretfull.

 

If I can be of any use

I'll get back in touch later fretfull and try and see what we can see with your interest rates.......mean while things are beginning to look up for me a little I have been a bit quiet ......................but have been making further enquiries with other law firms wh do legal aid and on the very brief scenario put to them I now have another 3 law firms staining a little at the leash to take my appeal on.

 

First appointment with one tomorrow at 9.00 am. ................Client Cartell have told me they will stay the possession order free of charge.......... and then proceed from there should I not be confident in the firm I see tomorrow.

 

Things are looking up most of them are interested in the statements made by Mark White:cool:

 

Just sent them one or he made ...one solicitor chuckled and said that's a VERY VERY interesting aspect come and see me. I will always be available for you in this instance

I'm feeling much better now.

 

sparkie

 

Hi Sparkie:)

 

That's very good news - I'm sure with the evidence you have and with legal support, you will beat Swift! I'm so glad to see you are feeling more upbeat now.

 

As Frettful says, we are all here willing you on to victory!

 

Take care,

 

Landy x

[Guest blackie]

Sparkie so glad you've got legal representation, unfortunately without it no one wants to know. You've done so well, you really do deserve a good break. I hope your OH is feeling slightly better. I hope you don't mind but I mentioned your circumstances to my MP, I was just so disgusted that this sort of thing could happen to people your age. The judge should have given you an adjournment with the advice to get legal representation, (even my friend was very shocked at the court decision)

Good luck, but I really don't think you need it. Thanks for giving me the confidence to carry on and believe that I can win.

[midge61]

Great news sparkie.

 

GO GET THEM

[welshperson3]

sparkie as we can see from your thread that you are a very determined and I'm sure that you will get there in the end.

 

but in the meantime don't let the b******s grind you down.

 

as hard as it must be try and keep your chin up,

and i wish you all that i would wish for myself

 

if there is any justice left in this country this will turn out right.

gl

 

wp3

[Sparkie1723]

Thank You EVERYONE.

 

But I can tell you I am feeling so tired and drained it has been a long hard fight but I think it is nearly over, I am spoilt for choice now one of the law firms has already handled two cases of just misleading statements made in statements of truth and won them both.......not half of what Mark White said;). They used a criminal barristers chambers who does civil as well.

To put it in a nutshell he used this analogy.............. you cannot say something is a cream colour under oath when you kow it is actually white.8-)

 

I only sent them the paragrapghs of his witness statement about the interest rate one saying its a nominal rate .............the next an APR and what he said under oath it was an Apr ..and is was correct when it wasn't........ .he said even that's enough in a serious case such as posession of a home.

 

sparkie

 

P.S.

 

Forggot to add I was told if it had been an ordinary person the odds would have dropped a little only "a little" but because Mark White is a professional person who deals specifically with interest rates and calculations it bodes not too good for him.

I am so pleased about that.

Edited December 9, 2009 by Sparkie1723

[mmcourt]

Hi Sparkie, Guess whos back. Hes taking an interest again. All you have to do is say something and he is around you like a swarm of bees. You have a stalker lol.

[Sparkie1723]

Hi Sparkie, Guess whos back. Hes taking an interest again. All you have to do is say something and he is around you like a swarm of bees. You have a stalker lol.

 

Yes I see not bothered anymore ....what will be will be..........and what will be is going to be HEAVY for one particular person ...I have never been so more up beat........my case WILL go before the High Court....I will not do a deal like Mr Bentley (Bless his Heart) .did with Blenaim

 

sparkie

Edited December 9, 2009 by Sparkie1723

[Sparkie1723]

All authorities etc have now gone off to Consumer Credit Legal Services all in readiness should I decide to go with them after seeing the Law firm tomorrow.....Consumer Credit were the ones that handled the Blehmain case.......spoilt for choice

 

sparkie

Edited December 9, 2009 by Sparkie1723