Swift Advances. Secured Loan Charges reclaim

[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

[Marky1701]

Sparkie,

 

I understand completely that you are going to see these law firms with your specific case in mind, but can I ask a favour please?

 

Mention their interest rate increases/LIBOR rate decreases/pegging them at a completely unreasonable level - can you ask if there is a case that they are abusing their position of power and if our loans can be considered to be based on an unfair relationship.

 

If they think its a goer, let me have their details and I will instruct them as well!!

 

Thanks

 

Mark

[Sparkie1723]

Don't you worry Marky it may "appear" that its just me .....IT isn't .......I have everyones cause in mind...... We are here to help each other and that is already in the file as a questoion ...I am covering all bases..... mine and everyone elses, where possible!

 

I have the LiboR rate from 2006 to date mate....have no fear,

I have the records of ...the monthly rate...... the 3 monthly rate and .....the yearly rate

 

They have got to made to explain that as they borrowed at a fixed capped ratee what authority or reason could they increase rates ...I now have records that they increased their interest every single month of the year on 12 different agreements that were taken out in the different months.of te year....without a doubt UNFAIR to everyone concerned

 

 

sparkie

Edited December 9, 2009 by Sparkie1723

[cantona1509]

Good luck sparkie I hope it goes well like we all know it should do!

[Sparkie1723]

This what Mark White has got to explain.............the contradictory false deliberate misleading statements made here in his witness statement of TRUTH

 

 

 

 

 

If they had included the one off fees as he says the APR would have been shown as 15.4%

 

Summary be leading Law Firm on the Case

KJM Superbikes v Hinton [2008] EWHC 1280

This case therefore serves as a timely reminder to signatories to statements of truth and those advising them to ensure that the facts stated in the document concerned are true. A failure to do so can expose the signatory to criminal proceedings for contempt of court and if convicted, the sentence can include imprisonment, a fine and/or a seizure of assets. Not only that, but the credibility of the signatory as a witness will be destroyed and the Court is unlikely to accept as true other parts of his or her evidence. Witness statements and statements of case should therefore be read thoroughly before signature and amendments made to ensure that the document is factually correct.

[mmcourt]

Good Luck Sparkie tomorrow. Let us know how you get on;)

[zeblet]

Good Luck tomorrow. Were all behind you.

[Smarterchick]

That No.20 above looks rather incriminating too Sparkie...how can he say " All these costs were as a result of increase in costs of funds to Swift" when they borrowed at a fixed rate or are linked to Libor which was coming down?

 

mmm??? I hope he's a dexterous with his answers as he is with his Witness Statements.

[Guest blackie]

A friend from Price Waterhouse Cooper (now retired) is busy looking at Kestrel, Swift etc accounts for me. Will summarise their findings after weekend.

[Sparkie1723]

Hi everyone

 

First Legal aid approved ...Barrister is engaged ..who specialises in possession case and Consumer Credit Law.

 

First step Setting aside possession order, application for an appeal ( NO problem seen with that particular issue.

 

The law firm has been in existence for over 40 years, Barristers Chambers a very old established one over 50 years, legal guy I saw today has been involved with possession cases for over 15 years, ( and previously worked for local govt in Housing etc Barrister over 20 years experience.

 

Will take all the way to High Court initial view 60/40 my side. Barristers opinion ASAP.

 

These people do not take private cases on ( the big money makin cases ) they do nothing else but legal aid............He said someone has to stand in the corner of the bottom section of legal assistance ...and they believe in what they are doing ...rememebr folks the legal Aid people do not pay all that much in hrly rates. Guy I saw not a young guy .....but one with lots of experience.... Relaxed a bit more now.

 

sparkie

 

 

 

 

sparkie

[Sparkie1723]

Everyone should continue writing to FSA and OFT complain as much and as often as we can.

 

sprkie

[sweetjane]

Good news Sparkie, glad to hear someone's looking after you.

[Guest blackie]

Sparkie thank god, at last a human being with some compassion. I have a friend who is now looking at Kestrel and Swift relationships and accounting. Will be happy to forward his findings to you. I do not have to pay for his time, but any disbursements. He is a wiz kid who once worked for Price Waterhouse Cooper, so hopefully he will spot anything in their book keeping that does not ring true. Hope your other half is feeling more relaxed too.

 

Take good care.

[frettful38]

Excellent news sparkie, well done and I hope a victory is near for you

[Gallahad]

Great news Sparkie lets hope you are now on the road to justice. I am sure all your hard work will stand in good stead for your legal team. Go get em mate.

G

[Sparkie1723]

Excellent news sparkie, well done and I hope a victory is near for you

 

 

I would not say "victory" but what I will be doing is causing Swift some very BIG problems.........because I can now bring into play ALL that has transpired from the time I questioned the brokers fees the interest increases in May 2007......all and the misleading statements made in the previous hearin ....I was told if I have got the evidence then they will play a major role in my case......the Barrister will see to that...........and ...I HAVE GOT THAT EVIDENCE.

 

sparkie

[sweetjane]

http://www.oft.gov.uk/shared_oft/business_leaflets/general/oft1105.pdf

 

I'd like to second what Sparkie says: Everyone should read this OFT document. If you have complaints or information to share with the OFT write to David.Blocksidge, Head of Secured Lending Team at the OFT. [email protected] and Nigel Cates, Deputy Director, Consumer Credit Group, OFT. [email protected] .

 

 

The OFT do not reveal which individual companies they are investigating but they will be interested in hearing your stories. They are currently carrying out an investigation into firms who offer second charge loans. Blackie, maybe your friend's findings would be interesting to them too.

 

Even if you've complained to the OFT's general enquiries dept, I think it's worthwhile repeating your information to these guys directly. They will not intervene in individual cases but it will help build a file against Swift which can only be an advantage to everyone.

 

 

If you have complaints with the FOS or FSA encourage them to share the information with the OFT as outlined in their Memoranda of Understanding.

 

Keep fighting. Still mad but Sweet

[Sparkie1723]

"Sweeterthanhoneyjane" ........(is her new name) ....................(I'm a creep really )............... spot on I first complained to the OFT about Swift in 2007 3-4 times and they had started to build the file then .....must be getting pretty big now so ...get writing with EVERY little bit of information you can provide about their tactics.

 

Backie gives herself that name because she has just started practising "The Black Arts" against Swift !!:D

sparkie

[cantona1509]

Excellent news sparkie don't forget I'm as much as up for a scrap with these as you let me know if I can do anything

[sweetjane]

People will be talking about us Sparkie

 

Here's the email I got from the OFT in full. Because they "are now approaching the end of our investigation" it is very important that everyone writes to them asap:

 

"Firms offering second charge loans must be licensed by the OFT under the Consumer Credit Act 1974. Swift Advances plc and associated companies hold a consumer credit licence. Following a review carried out last year of practices in the sector the OFT published guidance for the industry ( http://www.oft.gov.uk/shared_oft/business_leaflets/general/oft1105.pdf ). The guidance sets out the minimum standards the OFT expects from businesses engaged in second charge lending if they are to be considered fit to hold a licence. It covers the entire lending process including selling techniques, customer care, and practices around the management of arrears. The OFT also retains an ongoing monitoring role over the sector and, as a result of the concerns about the practices of a number of particular lenders, launched an investigation into their activities alongside publication of the guidance.

Our inquiry is focused around the entire lending process from the initial lending decision up to the handling of arrears and defaults and possession actions. On the latter issue, since October 2008 lenders have had to comply with the Pre-action Protocol for Repossession Claims and our inquiry includes how lenders have amended their practices to ensure compliance. We have already written to a number of lenders seeking further information to assess the level of consumer detriment in relation to these matters. We are now approaching the end of our investigation and expect to take enforcement action in the next few months.

We are interested in the information you may be able to provide to us, and I have asked the Secured Lending Team to get in touch with you. David Blocksidge, the head of the Secured Lending Team, is copied to this email.

Due to statutory constraints on disclosure of information relating to ongoing investigations we are unable to comment on whether or not Swift and linked companies are among the companies subject to our investigation and enforcement action. Once our action is completed it will be made public."

[Sparkie1723]

Can everyone do me a favour and go back to my post 2091...........where Mark White explains ( or tries to) in his witness statement the interest rate.

Mathew Payne had said in his statement of truth that the interest rate was 10.3% at the statrt of our loan...I queried it .so

Mark White said that interest was calculated at 0.82% per month and this works out at 10.3% so both are correct.........NO matter how I try I cannot make 0.82% Multipled by 12 equal 10.3% ......................it comes to 9.84%..................even if you do it on a 13 month basis it comes to 10.66.

 

Am I missing something ?? Can others check please?

 

sparkie

[Sparkie1723]

Taken from sweetjanes letter from the OFT

 

"Following a review carried out last year of practices in the sector the OFT published guidance for the industry"

 

The OFT issued guidelines for secondary lending ages ago....Do/did Swift take any notice of that ...NOT in the slightest they completely ignore it..........and as seen by the speed they possessed our house in 24 Days they took no notice of the latest guidelines either.

 

That's how big they set themselves up to be. They put two fingers up to the OFT.

 

sparkie

[Sparkie1723]

Had an immediate response from the OFT won't go into details .but called the person who wrote it and when I told him that Swift have now asked for an income and expenditure details AFTER possession.....that really took him a back little HIs words " They did this AFTER the possession order............why did they do this " I said I do not know ......and that it took them just 24 days to get possession.

 

He said he was off to a very important meeting and would call me back tomorrow without fail.

 

 

sparkie