Swift Advances. Secured Loan Charges reclaim

[caro]

That is not acceptable on CAG Westlandbabe.

 

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Please forward any such messages to admin and they will be dealt with.

 

Getting back to CMC's. Their only interest is to line their own pockets. They have no interest in you or Swift or righting wrongs. They do not have your passion to nail anyone, and in many cases they don't have the legal knowledge either.

[westlandbabe]

Caro, thanks for the advice on both fronts. I will indeed do the prior and with regards to the latter I haven't yet committed to anything and take your points on board. It is my intention to take some time over the weekend to look at the template letters etc and see how I would go forward with this if I were to do it on my own. It is quite tempting to go down the line of having a bigger organisation's backing but I also understand where you're coming from.

Keep you posted!

[Marky1701]

Thanks for the advice Suetonius. I'm being ultra-careful.

 

With regards to looking at the assistance of other CAGGERS however, I'm afraid I have an issue with that........

 

It would seem that my requests for advice or help of any kind, or in fact my mere presence on this forum, is not wanted in any shape or form! I have received great support from quite a few, Marky, busterberg, doc, lookingforinfo to name just a few; however, almost immediately I have also been met with distrust and almost contempt. When I simply questioned why 'some' would be distrusting of my posts or requests, I was suddenly referred to as a 'rude' cagger 'slabbering' nothing but nonsense! If anyone would care to read back through any of my posts I'd love to hear how this conclusion has been reached. Various 'pm's' have left me feeling quite distressed and, in the last case, disgusted to be honest. Remarks left by one forum member in particular have upset me greatly. I am a 31 year-old female who has been through a particularly bad time this past 18months. I have 3 gorgeous children under the age of 3. I am a good person. I have never meant or wished ill of anyone. I was elated when I found this site and reading through the posts everyone seemed so helpful and knowledgeable and I just had to join in. What I have been met with is, I repeat, disgusting! I am not tarring everyone with the same brush. Why should I justify who I am or what I'm doing here? Why shouldn't I ask for advice? Why should I be excluded from news and noteworthy events in the quest to find justice against Swift? Why have I been labelled as rude? And why, most importantly of all, SHOULD A YOUNG MOTHER OF 3 TRYING TO MAKE ENDS MEET "PADDLE HER OWN GOD DAMN BOAT UP THE FOYLE" (to quote one disgusting poster in a PM) WHILST TRYING TO SUPPORT 3 CHILDREN WHEN ALL SHE ASKED FOR WAS THE HELP AND ADVICE MOST OF YOU ARE ABLE TO GIVE????

 

Sorry for the rant but I am furious. I'll be starting my own thread because I really don't need any of the abuse but I believe these forums are invaluable, as are most of the forum posters.

Good Luck to the rest of you!

 

I am with you on that WB.

 

I think this forum kind of imploded recently - absolutely for the good - what some people have underestimated is the anger and frustration we are carrying all because of our favourite little bird.

 

When we kept on getting repeated posts that something major was going to happen, people were going to prison, and it never did, all those posts did was raise our expectations and the inevitable let down fuelled our anger and frustration.

 

When the people (you know who you are) who posted these things were asked, in open forum or by pm, for anything of any substance, I for one got replies my 13 year old Son would groan at and say to me 'stop treating me like a kid!!'

 

I am here to get help, and help anyone else if I can.

 

I dont pretend to be an expert, never will.

 

I honestly believe that the only way Swift will be gotten at is by the FSA or the OFT.

 

The only way that will happen is by the thousands of Swift victims (sorry another name they use for that is customers) to get writing to the OFT/FSA/MP - whoever they can who you think might make a difference.

 

All this speculation about securitisation, SPV's who bought whos loans, who has a consumer credit licence, who may or may not have lied in court ad infinitum is b*llocks - In my opinion, unfair terms and Swifts' abusing their position of power is plain to see for all.

 

Have a great day everyone and the weather looks brilliant for the weekend woo hoo!!

 

m

Edited April 23, 2010 by Marky1701

[paulwlton]

I fully understand that "Swift victims" are anxious and stressed in relation to the recent ramping. However, this is justified as the individuals have uncovered serious erroneous accounting practices amongst other things.

 

PW

[lookinforinfo]

I am with you on that WB.

 

I think this forum kind of imploded recently - absolutely for the good - what some people have underestimated is the anger and frustration we are carrying all because of our favourite little bird.

 

When we kept on getting repeated posts that something major was going to happen, people were going to prison, and it never did, all those posts did was raise our expectations and the inevitable let down fuelled our anger and frustration.

 

When the people (you know who you are) who posted these things were asked, in open forum or by pm, for anything of any substance, I for one got replies my 13 year old Son would groan at and say to me 'stop treating me like a kid!!'

 

I am here to get help, and help anyone else if I can.

 

I dont pretend to be an expert, never will.

 

I honestly believe that the only way Swift will be gotten at is by the FSA or the OFT.

 

The only way that will happen is by the thousands of Swift victims (sorry another name they use for that is customers) to get writing to the OFT/FSA/MP - whoever they can who you think might make a difference.

 

All this speculation about securitisation, SPV's who bought whos loans, who has a consumer credit licence, who may or may not have lied in court ad infinitum is b*llocks - In my opinion, unfair terms and Swifts' abusing their position of power is plain to see for all.

 

Have a great day everyone and the weather looks brilliant for the weekend woo hoo!!

 

m

 

Hi Marky, I understand what you are saying. But it is just as

frustrating, if not more so, for the others on this site who are doing the digging.

First of all, it can take months to get a case to Court and even then, if the other side appear to be losing, they have the knowledge to get an adjournment [often on an unrelated subject] to give them time to regroup and counter the argument.

Second, Judges are not always up to speed on The CCA or the Data Protection Act so it is possible for the plaintiff to "misdirect" the Judge and we miss it.

Third, Judges are very much "not of this world" and take a benign view of the actions of the plaintiffs even when we believe fraud and/or forgery are involved.

 

On the plus side, the recent Supreme Court case can actually work in our favour as it goes to credibility of the banks. You will know that all the banks have always assured us that their charges are "fair and reasonable" and some will even further lie and say that "they reflect their liquidated losses". It is very hard then to square those statements against that of their barrister in Court where he said that the charges levied by the banks involved in that case

represented 30% of their profits and allowed them to offer their customers free banking! Now I admit that Swift was not among that group of banks, but they are still charging what those banks were charging.

 

There probably won't be one thing on its own in your arsenal that

will convince the Judge, but the more ammunition you use, the greater the chance of getting the result you want. The guys on this site [and on this thread] are doing just that and so perhaps you might not be too hard on them if they don't get the result straight away that they said. After all, they are not experts either, but they are educating themselves and passing on that information to you and the rest of us on site.

[Dougal16T]

Hi Marky, I understand what you are saying. But it is just as

frustrating, if not more so, for the others on this site who are doing the digging.

First of all, it can take months to get a case to Court and even then, if the other side appear to be losing, they have the knowledge to get an adjournment [often on an unrelated subject] to give them time to regroup and counter the argument.

Second, Judges are not always up to speed on The CCA or the Data Protection Act so it is possible for the plaintiff to "misdirect" the Judge and we miss it.

Third, Judges are very much "not of this world" and take a benign view of the actions of the plaintiffs even when we believe fraud and/or forgery are involved.

 

On the plus side, the recent Supreme Court case can actually work in our favour as it goes to credibility of the banks. You will know that all the banks have always assured us that their charges are "fair and reasonable" and some will even further lie and say that "they reflect their liquidated losses". It is very hard then to square those statements against that of their barrister in Court where he said that the charges levied by the banks involved in that case

represented 30% of their profits and allowed them to offer their customers free banking! Now I admit that Swift was not among that group of banks, but they are still charging what those banks were charging.

 

There probably won't be one thing on its own in your arsenal that

will convince the Judge, but the more ammunition you use, the greater the chance of getting the result you want. The guys on this site [and on this thread] are doing just that and so perhaps you might not be too hard on them if they don't get the result straight away that they said. After all, they are not experts either, but they are educating themselves and passing on that information to you and the rest of us on site.

 

Good morning everyone,

Firstly I am very sorry to hear of the problems that have been experienced by someone who has tried to find help and assistance on this forum. I thought (and still do think) that we are all here to help one another, and I can only bring to mind that those who choose to abuse others (in any way) should remember this "Let the person who is without sin throw the first stone", a paraphrase I know, and I am not a religious nut - but none of us are perfect - we must all remember that.

 

Menawhile I simply want to add, as always, if there is anything I can do to help anyone, they have only to ask.

 

My very best wishes to all

 

Dougal

 

ps: watch this space in regards to the small bird......

[Apollo18]

I am with you on that WB.

 

I think this forum kind of imploded recently - absolutely for the good - what some people have underestimated is the anger and frustration we are carrying all because of our favourite little bird.

 

When we kept on getting repeated posts that something major was going to happen, people were going to prison, and it never did, all those posts did was raise our expectations and the inevitable let down fuelled our anger and frustration.

 

When the people (you know who you are) who posted these things were asked, in open forum or by pm, for anything of any substance, I for one got replies my 13 year old Son would groan at and say to me 'stop treating me like a kid!!'

 

I am here to get help, and help anyone else if I can.

 

I dont pretend to be an expert, never will.

 

I honestly believe that the only way Swift will be gotten at is by the FSA or the OFT.

 

The only way that will happen is by the thousands of Swift victims (sorry another name they use for that is customers) to get writing to the OFT/FSA/MP - whoever they can who you think might make a difference.

 

All this speculation about securitisation, SPV's who bought whos loans, who has a consumer credit licence, who may or may not have lied in court ad infinitum is b*llocks - In my opinion, unfair terms and Swifts' abusing their position of power is plain to see for all.

 

Have a great day everyone and the weather looks brilliant for the weekend woo hoo!!

 

m

Hi All,

 

Excellent post Marky, I agree with you 100%.

 

WLB - As others have commented, think very carefully before spending any money with claims management companies.

 

Dominic Littlewood said on the 'One Show' earlier this week....."If it sounds too good to be true, it probably is", so tread carefully and don't be taken in by people who just tell you what they think you want to hear!

 

Apollo18

[busterg]

I am with you on that WB.

 

When we kept on getting repeated posts that something major was going to happen, people were going to prison, and it never did, all those posts did was raise our expectations and the inevitable let down fuelled our anger and frustration.

 

m

 

As LFI said Marky it takes time........

 

Credit Today online

 

I know you're angry and frustrated - we all are. But I've asked you before and I'll ask again.....what are you doing to resolve your personal situation with Swift?

 

Im not having ago at all, so please don't think I am. It's just that waiting on others is no benefit in terms of how you are feeling or moving things along for yourself.

 

Taking action like WLB is doing goes a long way.

[Marky1701]

As LFI said Marky it takes time........

 

Credit Today online

 

I know you're angry and frustrated - we all are. But I've asked you before and I'll ask again.....what are you doing to resolve your personal situation with Swift?

 

Im not having ago at all, so please don't think I am. It's just that waiting on others is no benefit in terms of how you are feeling or moving things along for yourself.

 

Taking action like WLB is doing goes a long way.

 

My point exactly BQ

 

I am not waiting on others - far from it.

 

I am currently in correspondence with the OFT and have recently sent them copies of my Swift agreement fo them to check out my figures.

 

I have had 2 letters from my MP, and one back directly from the chief exec of the OFT.

 

Dont misunderstand me - the work that some are doing on here is brilliant and if they succeed, I will be first in line to shake their hands and buy them a drink - my point is this; when posts indicate that something big is going to happen, it affects us of course, but I am a big boy and can take it, but my concern is the impact these post have on all the 'fence sitters' out there.

 

They could read something and think 'Hey I dont need to do anything because its all being done for me and Swift are going down the pan any day now'

 

Thats the essence of my point - these people need to act, get letters out to the FSA/OFT or whoever because it is weight of numbers of complaints which will make the regulatory bodies act.

 

I hope this makes sense to you.

 

Regards,

 

Mark

[busterg]

My point exactly BQ

 

I am not waiting on others - far from it.

 

I am currently in correspondence with the OFT and have recently sent them copies of my Swift agreement fo them to check out my figures.

 

I have had 2 letters from my MP, and one back directly from the chief exec of the OFT.

 

Dont misunderstand me - the work that some are doing on here is brilliant and if they succeed, I will be first in line to shake their hands and buy them a drink - my point is this; when posts indicate that something big is going to happen, it affects us of course, but I am a big boy and can take it, but my concern is the impact these post have on all the 'fence sitters' out there.

 

They could read something and think 'Hey I dont need to do anything because its all being done for me and Swift are going down the pan any day now'

 

Thats the essence of my point - these people need to act, get letters out to the FSA/OFT or whoever because it is weight of numbers of complaints which will make the regulatory bodies act.

 

I hope this makes sense to you.

 

Regards,

 

Mark

 

total sense - totally agree. Did you go to the link?

[Marky1701]

total sense - totally agree. Did you go to the link?

 

Yes - nice one BQ!!

 

The OFT do have some significant teeth - I cannot wait for them to sink them into Swift !!!!

 

m

[busterg]

Yes - nice one BQ!!

 

The OFT do have some significant teeth - I cannot wait for them to sink them into Swift !!!!

 

m

 

Oh me neither. It's frustrating though waiting for it. It just takes so long for them to investigate.

 

I think this is where money and resources should be given to them to help people like us quicker.

[westlandbabe]

Excellent guys, great reading Busterg. Marky you've certainly been busy:D I'm also going down your route of contacting OFT, it's essential!

Dougal I'm pretty sure I'll have plenty of questions before this 'goose is cooked' and Apollo advice heeded.

Thanks for the support guys!

[Suetonius]

Sorry if this has been posted previously, thought it might be of interested in some.

 

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

 

I have been thinking about the problems people are having with Swift.

 

Something that some of the more active caggers might consider

 

http://www.bis.gov.uk/files/file11957.pdf

[rick355]

Hi

 

Sorry for hijacking a thread but figured this would be the place where people might be able to assist. I did create my own thread but have had no responses. Maybe it was in the wrong location?!?

 

Afer being on this site for a few years and having success by searching other peoples info i finally need help. I have searched but am not sure how to progress.

 

I have a secured loan with Central Trust Plc. The loan is for £25,500 over 25 years. I have recieved all my account info due to sending a Subject access request. The top of the agreement says in bold capitals NON REGULATED CREDIT AGREEMENT (which is fair enough). However, when i recieve any letters relating to missed payments ect they put on the letter 'Your credit agreement for you loan is regualted by the Consumer Credit Act 1974'. So i am confused to whether it is or not?

 

My first issue is realted to enfocability. When i orgianlly took out the loan in Nov 2004 my payments were supposed to be £250.79 (288 monthly payments at 11.5% APR). The problem is in Nov 2007 my payments went up to £267.64 then in Sept 2008 they went up to £289.85 which they have stayed at since. They blamed it on interest rates at the time but then interest rates dropped but my payments did not. Can they get away with this kind of increase?

 

In regards to charges. Twice since the loan started i have been made redundant and had some issues paying. I always paid but sometimes it was a little late. Each time a payment date was missed they added on a £50 or £60 'collections' charge. Which they are also claiming interest on for the life of the loan, considering this is a 25 year loan the charges are going to end up costing me thousands. The charges have already added up to £450 plus interest and will keep increasing.

 

Is there anything i can do to get these charges taken off or at least stop them charging interest on them? Also is the loan enforcable or not since i seem to be getting conflicting information from them?

 

i have won cases against Barclays and Lloyds in the past so am familar with terms ect but am just a bit stuck on this one. I would appreciate any help.

 

Or even if someone could point me in the right direction.

 

Thanks

[Dougal16T]

Good evening,

 

It is interesting to hear that you have a loan with Central Trust (aka Central Capital) I was not aware that they 'did' loans themselves, as they are in fact a broker. Is the loan actually with 'Swift' advances or any other incarnation of 'Swift'?

 

I had my loan with Swift Advances via Central Capital (the broker) and am now pursuing the question of Secret Commission, between Swift and Central Capital.

 

I will be happy to help if I can.

 

Best wishes to all as always

 

Dougal

[cupcake68]

Hi

 

Sorry to hi jack the thread (again) but I thought you would be able to advise me on this.....

 

I have sent SDAR requests to My broker and SPL (not swift but almost as bad!) and have a received a reply from the broker today....

 

Dear Mr & Mrs Cupcake

 

Thank you for your request...

 

We will be able to provide some of the information required. However under the Data Protection Act 1998 we require the following so that we can disclose the information you require.

 

Proof of indentity: Copy of photographic driving licence or passport for Miss Lindsay (and any joint parties)

 

Proof of address: A utility bill or bank statement for Miss Lindsay (and any joint parties)

 

Once we receive the above we will provide you with the data as soon as possible...........

 

My first question is WHO IS MISS LINSAY????????? I have no idea!!!

 

My next question is should I send the information they have requested?

 

Thanks guys

 

Cupcake

[andrew1]

I know this may be a little sensitive and awkward for some, but I am doing some research into repossessions to monitor the effects on peoples lives for a charity. I wonder if anyone who has had the misfortune to be repossessed by this company would mind sending me a PM so I can discuss this with them in private.

 

This will be totally confidential and will not involve names.

 

Thank you.

[westlandbabe]

Hi Rick, with regards to the interest going up and yet not going down I would imagine there would be some conflict under the 'unfair relationship' umbrella. I too have had the same problem with Swift increasing my payments but yet not decreasing even though bank and Libor rates are at an all time low and I'm pursuing this with them under that term via Financial Rights Northern Ireland.

With regards to unenforcability you might just have a case there too considering you took the loan out before 2006, check your original agreement for the areas previously mentioned on this thread to see if you might have an unenforceable agreement, such as APR not being correctly stated etc. Charging interest on charges for the life of the loan seems ridiculous!! Read back through the whole thread, I know it seems tedious but you will find the answers you're looking for. Sorry I can't be of more help, I'm new on here too and still finding my feet with all this information;)

[westlandbabe]

An update on my own situation. Spoke with debt guy yesterday, filled out questionnaire for lawcomm to audit if I have a case to pursue. Seems I was confused about the no win no fee etc. It costs £295 for them to audit my case. If they decide I have no case to pursue, I am refunded £250, thus paying them £45 for their time in looking at it. If they think there is a case to pursue then I don't pay anything additional at all! They are confident enough if they take on my case that they will win and apparently thus Swift are then liable for their costs.

I'll head back from them within the next week or so on whether they are going to pursue this. Interestingly, I got a call from the broker this morning to schedule an appointment with me at Swift's request to do an income and expenditure questionnaire, which I asked them to do six months ago as my circumstances had changed so much, and they refused! Am surprised to be honest, last time I was late with a couple of payments they went straight for threatening repossession!!

[westlandbabe]

Sorry Rick, meant to add, have you checked your original agreement to see if it states anywhere about interest being charged on 'charges'. Mine only states the charges for being late, missed payments, etc, says nothing about interest. If not, you'd have an even stronger case for arguing to get them taken off, possibly under the 'mis-sold' route. How affordable was your loan when you took it out, i.e. were the repayments close to the maximum you could afford? If so, it apparently works under the mis-sold umbrella that the company could not possibly expect you to be able to afford interest on charges, or interest increases etc. Am just learning about this myself so will fill you in as I learn more:D

[westlandbabe]

Guys, sorry for the continuous posting, just as I'm remember info from yesterday's meeting. This might be useful for those in the same position as me, i.e. I have a 2nd charge mortgage with Swift on a buy-to-let property I own. I thought I couldn't sell the house as the current value doesn't equal what I owe in the two mortgages.....not true! Apparently I CAN sell the house, the 1st charge mortgage will be paid off and the 2nd charge, i.e. swift will get the rest. If that isn't enough to cover what I owe....then the loan becomes 'unsecured' i.e. I can negotiate to pay them the balance. They cut all interest for a start,and I could probably get away with paying them as little as £10 a week if I can prove that's all I can afford. I don't even have to 'legally' prove that's all I can afford. These guys don't want to bankrupt you as then they get nothing so will almost always accept any offer of repayment that you make. Just a wee FYI!

[Sparkie1723]

I know that everyone has been wondering where I had gone to…....but I have been around and have been doing some DEEP digging for info…have no fear about that.

Keeping a lot back for reasons I hope you’ll all understand as it appertains to my on going appeal process.

But I came on to post this…….. the important info about what has happened of late which I mentioned before that “certain”people doubted.

Swift Advances Plc have had a Full Discovery/Disclosure order made against them

SO What!!!!! a lot will say….is that all the big news is??

Let me explain what this means for EVERYONE…...This does not happen very often ..in fact it is very rare.

You are all aware of the documents that Swift Advances Plc with hold from every one……..well they are going to be forced to supply EVERY single thing asked for……..even who they buy their paper clips off and how much they pay for them (if necessary) ......this will then be public domain …all of you will be able to demand all these same documents for yourselves….. Title Indemnity Policy,….. Underwriting Sheet,…… records of the sale of your loan how it was done….. who it was sold to…..( they confirm it was ) what was sold, how much did they get for it…….. how much commission and EXTRA commission was paid to your broker….explain who actually pays this commission.....THE BORROWER DOES its allowed for in your interest rate you pay........remember there is evidence of even more than standard commission being paid …the actual true costs of their charges …you name it Swift Advances Plc are going to have to supply it …sit back and think what all this means to each and everyone of you.

Remember what happened to Gmac just on their charges issue…£2.2 million fine and ordered to …pay back 7.5 million to borrowers.

sparkie

[Apollo18]

Hi Sparkie,

 

It appears that your shadow sparkle72 has returned!

 

Apollo18

[Sparkie1723]

Hi Sparkie,

 

It appears that your shadow sparkle72 has returned!

 

Apollo18

 

 

 

Hi matey

 

Already noted;)

 

sparkie