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    • Hello CAG, Bit of a long post, may want to get a cuppa before starting reading... 😁   So, after being a lurker for many years and trying never to get into a mess with credit cards like i did 20 years ago, i've got myself into a mess with Amex... I've tried being open and honest with them, but now getting the feeling they are messing me around.  Its not a chargecard, but a Nectar Credit Card with them. Took out 2016. Balance is just under £15k as of today, was almost at £17k. Debt still owed by Amex, not been sent to NCO/Arrow etc - YET...    Background (short version): Was all fine with more than min. payment (£500 or so), being made until April 2020 when a number of things reduced my monthly salary from work (mainly, take a pay cut or be made redundant), so I soon quickly realised i needed to tighten my belt quickly.  Phoned Amex, advisor said nothing they could do except Payment Holiday. Was put onto that for 3 months, told that Amex will be in touch at the end to restart payments. I asked about interest being stopped/frozen/reduced - not possible. So agreed to payment holiday to give me breathing space.  3 months came and went, no contact from Amex... No payments made, interest still racking up at around £300 a month...  Rang Amex back (July 2020), we cant do anything today because your in the middle of the statement cycle call back next week. Called back week after, no solution yet (i asked about things i seen on Amex US website = Regain program - basically freeze card, lower interest rate and pay a set amount for 12 months - more about this later) > Not available in UK yet. Want to stay on payment holiday Mister B? I asked if there was any way interest could be stopped as this is making the balance increase and increase. No. Do you want to stay on Payment Holiday? Ok. (Bear in mind, if i came off Payment holiday. Minimum Payment was around £570 per month.  So, stayed on payment holiday... Didnt hear anything from Amex again. Called back up in September 2020. Please call back in October after 10th and we can assit. Called back after October 10, went through loads of stuff, different options etc, was warned that Payment Holiday might not be extended much longer, but now have a program. Worked out with Amex woman that i could pay around £200 per month. But please stop interest - no we cant but we can reduce this down to 9.9APR instead of 23%... . Amex woman said she needed to submit details to 'Seniors' at Amex, please call back next week for update. Called back week after, advised that first Amex woman was wrong and had made mistakes, shouldnt have told me what she had told me, £200 is too low, minimum would be £389 per month for 12 months or account will default. Told Amex woman 2 that couldnt afford it, went through this last time, etc etc. Amex woman 2 went off, came back, £329.74 is mininum they can possbily accept, 12 months at that amount per month and interest would be lowered, but not stopped. If you dont take out this 'Program' then account will default and will be passed to NCO or Arrow (I hate them both).  Went off, tried to get loans etc, all refused. Rang Amex back, reluctantly agreed so i can basically keep credit rating at 'good'.  So, been paying since Nov 2021 @ £329.74.    Letter arrived in December - due to out mess up with moving accounts around whilst on payment holiday, we are going to give you £3074 back. Logged into account, only £30.74 refunded, not £3074. Phoned Amex cos thought it was a joke/mistake - Spoke to some bloke - Oh dont worry, the rest will be applied to account automatically in 7 days. he advised was genuine but then got cut off during call. Called back, spoke to some other bloke, yes, looks genuine but please hold... Came back 10 minutes later. Oh, its a mis-print, your not the only customer to receive one of these. Each should have been £30.74 not £3074. Me = Gutted.    Wrote a letter to Amex saying how dissatisifed i was with general customer service and felt they were incompentant, blah blah etc. Final response received, Complaint partially upheld, heres £150 credit because we were a bit silly, but thats it. IF your still not happy, go to FOS.  Opened a case with FOS... Have basically sent them the complaint letter to them and have had a call from them about this... FOS are backlogged though and will take another 3 months for complaint to be looked at by them.   Let me make this 100% clear, fully admit to owning the debt, yep, ive spent this money (wish I knew what on, cos having got much to show from it - just general stuff and holidays)... Not trying to shirk out of it, trying my best to keep up with re-payments but im really strugglling. After I got paid on 1st APril, after paying all outgoings i had £9.83 left in current account so am having to go into overdraft each month which is just a viscious circle.  I would really like to NOT have to down the default route and trash my credit rating and then have to deal with the morons at NCO / Arrow etc.    Meanwhile, this is where I need the advice of the CAG experts... - Credit Limit increases... These were coming every few months and it was just being upped and upped and upped. Credit limit eventually was stopped at £15,400. Some of the increases I never even received letter for, just noticed when I logged into account. >>>> Would this be a case for irresponsible lending? - Stopping interest - I've read something on FCA site that they reccomend (not policy) that if a customer is put onto a payment holiday then they reccomend freezing interest for customer so the debt doesnt continue to build. I've asked time and time again, Amex just refuse.  >>>> Any tips on how to get Amex to play ball?  - Full & Final/Short settlement I've rung Amex today, told them I might be able to pay it off. Initially they said full balance, i then pushed, they then said they would accept 80% of balance, pushed them a bit more, got it down to 70%. >>> Surprised, and then very surprised they would accept 70%, anyone else think this is a bit odd? Normally they wont budge, or they wont budge from their first offer... Could their be something wrong on account (missing CCA etc?), or do they want rid of me and account as much as I do with them? - Cant really keep going at these £329.74 repayments. Something is going to have to give somewhere. I believe they wont go any lower and they will just default it i send £100 instead of £329 and send it out to NCO/Arrow. This might not be a too bad thing though because this would stop the interest right? Anyone thoughts on this?    Anyone think of anything else I could try with them? Again, its still with Amex, not defaulted or anything yet, yep, its all my own fault, i've spent the money, dont deny that, just feel Amex have took advantage etc.   Many thanks for reading. Any advice is greatly appreicated.   Kr, Mista B.     
    • Ok so we have complained to HMRC but were still no further forward with getting the P45/P60. We need this as DVLA has said they need more proof of who he is before giving him a provisional license.  What more can l do. 
    • Hi All   just looking for some advice. I bought a used Porsche Boxster from one of Marshall motor group’s Audi dealers (can I name them?) recently and was assured that it received a major service in October 2020 in line with the manufacturers requirements. The service book confirms this. The dealer also told me on the phone that they have a 6 month rule with any mot or service being done if due within this period which assured me when making an offer over the phone on the car that it wouldn’t need anything doing for a while as I recall saying that.   However, digging through the receipts post delivery I saw that the service was in fact minor and after calling the specialist who serviced it in Oct both they (Sheepishly) and the invoice confirmed that the car did not receive new spark plugs, an air filter, brake fluid replacement or a new fan belt which have now all fallen due and hence the major service due warning light. Had I not investigated this then the car would have potentially gone another 4 years, so 8 in total without some of these items being done.   i emailed the salesman to ask what they would propose to do. The matter is complicated by my living 450 miles away in Scotland, and 200 from their nearest branch, a Mercedes dealer in the Lake District, so I suggested getting my cheapest local specialist to do the works that have fallen due, however I have received no response.   Whilst I am still within my 30 days i don’t want to reject the car, which is otherwise perfect, but the fact remains that the Audi 150 point check only asks for upcoming mot’s to be checked and not services and surely you wouldn’t buy an approved used car and expect to have the service light come on 2 weeks later and have to spend almost £500 putting it right.   i would really appreciate some advice on next steps and perhaps who to escalate this to. Meantime the car is booked in for 2 weeks time to get the work done at the cheapest reputable place I could find.   Many, many thanks in advance
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Swift Advances. Secured Loan Charges reclaim


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Having read everyone's notices about Swift I had a mortgage with them which I took out in April 2006. The amount of the mortgage was for £66,576.00 plus £4,460.00 for fees and £3,150.00 for insurance premiums that were added to the loan making the loan amount £74,186.00.

 

I fell into arrears with the mortgage and in or around April 2009 I brought the mortgage payments up to date and the amount which I paid included all charges.

 

I redeemed the mortage in August 2009 and they were looking £93,550.00 of me to settle the account.

 

I have recently took the opportunity having read through every one's complaints about them and I have written to them enclosing a schedule of payments. According to my calucations any monies which I paid towards the mortgage was never taken off.

 

I have written to them and have shown them how I have arrived at the figures and according to my calucations they have overcharged me by nearly £17,000.00. I have asked that I hear from them within the next seven days. I have also stated that if my calucations are wrong in any way to let me have a break down of how they arrived at the figure to redeem the mortgage. By the way it was a repayment mortgage and not an interest mortgage only. I will let you know how I get on. If in the meantime any one has any suggestions I would like to hear them.

 

Hi Cas,

 

In a word, ouch!!! - yet another Swift success story - do they actually have any satisfied customers at all I wonder?

 

Check they were not using the Rule of 78 to calculate the settlement figure - if they were, you might be stuffed as although it has now been abolished, it was leagal even though it was grossly unfair as the lender could lump all the interest on in an early settlement situation. Swift have now been forced not to use this from May 2010.

 

If they did not use this method, challenge them on the OFT guidelines (and VERY importantly fire off a letter to the OFT too) that an early settlement figure should reflect a lenders fair and resonable costs in setting a loan up - the exact wording of that paragraph is on here somewhere - I think I have it on a previous post.

 

Yet another example of Swifts' ability to rip people off - good luck on here and welcome to the struggle!!

 

Once again, please take the time to get the OFT involved - these guys have teeth and we are all hoping that one day they will bite Swift back, but only if they have enough evidence.

 

m

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Thanks for your advices. I paid £3,500.00 in respect of PPI Insurance. When I redeemed the mortgage which I had a shortfall of £3,450.00 I asked Swift about the insurance premiums. They told me it was nothing to do with them and to speak to the Broker. Unfortunately the Broker is no longer in business and I have since found out that they stopped trading in January 2007.

 

I then went to a company near by who dealt with the mis selling of the PPI. They were looking £500.00 up front and then 25% of anything I got back. I contacted the company directly who the PPI was with and they refused to pay me out. After another letter to them they then agreed to pay me in or around £1,200.00 which I received. If I had of went through that company I would have been at a greater loss. I posted my letter to Swift on Friday 18th June 2010 in relation to the mortgage and enclosed a schedule of payments to them in which I charged the interest on the loan amount only and then added on the insurance premiums, brokers fees, charges, early redemption penalty etc. I then deducted all payments off and got a total of in or around £17,111.00 which I feel I have over paid them by. I also asked in that letter that if they disagree with my figures to send me out a schedule as to how they arrived at the figures they have quoted, As soon as I receive this I will let you know what they say and take it from their. I have a form already downloaded and ready to go to the Financial Ombudsman if I don't get a satisfactory reply from them.

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Thanks for your advices. I paid £3,500.00 in respect of PPI Insurance. When I redeemed the mortgage which I had a shortfall of £3,450.00 I asked Swift about the insurance premiums. They told me it was nothing to do with them and to speak to the Broker. Unfortunately the Broker is no longer in business and I have since found out that they stopped trading in January 2007.

 

I then went to a company near by who dealt with the mis selling of the PPI. They were looking £500.00 up front and then 25% of anything I got back. I contacted the company directly who the PPI was with and they refused to pay me out. After another letter to them they then agreed to pay me in or around £1,200.00 which I received. If I had of went through that company I would have been at a greater loss. I posted my letter to Swift on Friday 18th June 2010 in relation to the mortgage and enclosed a schedule of payments to them in which I charged the interest on the loan amount only and then added on the insurance premiums, brokers fees, charges, early redemption penalty etc. I then deducted all payments off and got a total of in or around £17,111.00 which I feel I have over paid them by. I also asked in that letter that if they disagree with my figures to send me out a schedule as to how they arrived at the figures they have quoted, As soon as I receive this I will let you know what they say and take it from their. I have a form already downloaded and ready to go to the Financial Ombudsman if I don't get a satisfactory reply from them.

 

Hi Cas,

 

I take nothing away from your eforts, but be aware the FOS are, in many peoples' experience, about as much use as an ashtray on a motorbike - they always seem to favour the lenders. By all means write to them, but please get the OFT involved too - they are much more likely to make a difference.

 

Just hit the link on FOS to see what I mean

 

m

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Make sure you copy in the FSA too....

PLEASE NOTE - I am not a legal expert, what is stated is my own opinion and from what I have learnt from this forum and my own experiences.

 

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Thanks for your help. Is the OFC the Office of Fair Commission. If you have an address for them could you please let me have it and I will send a copyof the letter which I sent to Swift to them along with my schedule of payments and see how I go. Luckly enough I have a copy of my mortgage offer and mortgage statement for 2007/08.

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Thanks for your help. Is the OFC the Office of Fair Commission. If you have an address for them could you please let me have it and I will send a copyof the letter which I sent to Swift to them along with my schedule of payments and see how I go. Luckly enough I have a copy of my mortgage offer and mortgage statement for 2007/08.

Hi Cas,

 

OFT = Office of Fair Trading

 

I suggest that you address any correspondence to:

David Blocksidge

Office of Fair Trading

Fleetbank House

2-6 Salisbury Square

London

EC4Y 8JX

 

E-Mail: [email protected]

 

The more complaints and evidence they get against Swift the better!

 

Apollo18

Edited by Apollo18
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Hi Cas,

 

OFT = Office of Fair Trading

 

I suggest that you address any correspondence to:

David Blocksidge

Office of Fair Trading

Fleetbank House

2-6 Salisbury Square

London

EC4Y 8JX

 

E-Mail: [email protected]

 

The more complaints and evidence they get against Swift the better!

 

Apollo18

 

Nice one Apollo,

 

Cas - also ping one off th Edward Allie at the OFT

[email protected]

 

The more complaints = more likely they will act

 

m

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Thanks for all your help I have today done a letter to David Blocksidge and have outlined my complaint and have also enclosed a copy of the letter I sent to Swift along with my schedule of payments. fingers crossed they will do something. Will keep you posted as to how I get on.

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Well - everything has been quiet for a long time in my fight against Swift - they seem to have gone VERY quiet and are typically avoiding all questions.

 

Just fired a letter to them today asking for Accrual Statement, Charging Order documents, underwriting documents etc

 

Will let you all know what happens -

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Well - everything has been quiet for a long time in my fight against Swift - they seem to have gone VERY quiet and are typically avoiding all questions.

 

Just fired a letter to them today asking for Accrual Statement, Charging Order documents, underwriting documents etc

 

Will let you all know what happens -

 

Hi zincoxide:)

 

That's the only way - keep at them!

 

I found that when asked for those particular documents they merely churned out the party line that they have already complied with my requests and that they are not compelled to supply this information. In that case keep pushing and copy all correspondence to [email protected] and [email protected] to add to their store of ammo against Swift ;)

 

Landy x

LTSB PPI on various loans (current/settled) - Refunded inc 8%

 

MBNA 1 Charges - Refunded inc CI

 

MBNA 1 PPI - Refunded

 

MBNA 2 Charges - Refunded inc 8%

 

MBNA 2 PPI - Refunded

 

MBNA 2 Accident Ins - Refunded

 

Swift Advances (settled) Mortgage Charges -Partially refunded

 

Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%

 

Sainsburys (settled) Loan PPI - Refunded inc CI +8%

 

Sainsburys (closed) Card Charges - Refunded inc CI + 8%

 

M&S Money (closed) Card Charges - Refunded inc CI

 

M&S Money (closed) Card PPI - Refunded inc 8%

 

Direct Line (settled) Loan PPI - Refunded inc CI + 8%

 

Debenhams Card (closed) PPI - Refunded inc 8%

 

Swift Mortgage Charges -Refunded

 

Hitachi Finance (closed) Charges - Refunded

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Got a reply from Swift this morning. They advised that they were disappointed to learn of my complaint. They advised that they are investigating the matter and that I should hear from them by the 23rd July 2010. They also advised that if their investigation is not finished by the 23rd July 2010 with regards to my complaint that they will advise me at that time of the time scale in which they will have my complaint dealt with. I sent a copy of the my letter which I sent to Swift off to the OFT but haven't recieved any response. Will keep you informed of my progress.

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  • 2 weeks later...

I have been very quiet of late folks, but have not forsaken you all, I would like to post a little bit of information for you all to digest and consider how you use it, IF you digest this ………you will find it useful if Swift Advances plc take you to Court………as it is well known and posted many times before ….Swift Advances plc and Swift 1st Ltd sold all their loans to Kestrel Loans No 1 Ltd and Kestrel Loans No 3 Ltd .

2006 to 2007…… £266 million worth and again in…

2007 to 2008 another £200 million

 

They did this to obtain further funding……that is to say that after borrowing the initial money to lend us folks………..secured on the equity of OUR property, they then sold thes on to the named companies………ie these companies redeemed the loans from Swift Advances plc………….they were paid for them.

 

Mr Webster the CEO of Swift Advances plc in e-mails to me after I challenged him on this said in one email:

“There was no legal transfer of the mortgage from Swift Advances to Kestrel Loans no 1 - this was an internal accounting procedure only. The mortgage has at all times remained in the name of Swift Advances plc”.

 

 

Then when I wouldn’t accept this he said in a later e-mail;

“The transactions referred to in our accounts refer to loans that were sold by equitableassignment which is a valid and enforceable sale that transfers all the benefits,interest and liabilities of the loans”.

You can see here he is getting a little twist in his typing fingers;

I have at last found a legal explanation about this, and you should all read it and really understand what it means in the way of argument against either Swift 1st Ltd or Swift Advances plc if they take you to Court………I will underline the section for you to take real good note of;

 

Novation: Novation is the only way in which a lender can effectively

'transfer' all its rights and obligations under the Loan Agreement. The

process of transfer effectively cancels the existing lender's obligations and

rights under the loan, while the new lender assumes identical new rights and

obligations in their place.

 

Therefore the contractual relationship between the transferring lender and the

parties to the loan agreement cease and the new lender enters into a direct

relationship with the borrower, the agent and the other lenders.

Mr Webster said

“The transactions referred to in our accounts refer to loans that were sold by equitable assignment which is a valid and enforceable sale that transfers all the benefits,interest and liabilities of the loans”.

 

Equitable Assignment: As mentioned above, an equitable assignment is

created when one or more of the provisions of section 136 of the Law of

Property Act 1925 is not met, provided the intention to assign is present

between the parties.

In contrast to a legal assignment, the new lender, as the equitable assignee,

must join the existing lender,as assignor, in any action on the debt. The most

significant difference between a legal and equitable assignment arises if the

borrower is not notified of the assignment. If the borrower is not notified of

the assignment, the new lender will be subject to all equities (for example,

mutual rights of set-off) which arise between the existing lender and the

borrower, even after the loan has been assigned.

 

 

I believe that which ever Mr Webster and the 2 Swift Companies involved tries to say either ...the Kestrel Company No 1 or 3 has to take you to Court OR the Kestrel Compny has to be named on the Claim along WITH the Swift.company involved...........Think about this "peeps"

 

 

I’ll be back sometime

sparkie

Edited by Sparkie1723
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Good to hear from You Sparkie mate I hope you are well.

G

 

Thanks G yes getting better by the day ...just waiting for a last check up and hope I get the all clear.....specialst said I appear OK physically but he wants some more pictures of my insides ...........must look good in there they've taken loads of them:D

 

sparkie

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Thanks G yes getting better by the day ...just waiting for a last check up and hope I get the all clear.....specialst said I appear OK physically but he wants some more pictures of my insides ...........must look good in there they've taken loads of them:D

 

sparkie

We all know your guts are legendary ;)

G

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We all know your guts are legendary ;)

G

 

Rock on G ...I like that....right on the button........that's exactly what I had had all my pictures taken of intestines, stomach, kidneys the sharp end everything!!;):D

 

sparkie

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Thank you for all your hard work Sparkie and so good to see a smiley face on your post.

 

The best of health to you.

 

Thanks Determinator,

 

Your good wishes are very much appreciated.

 

sparkie

Edited by Sparkie1723
spelling as usual
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I been reading your posts sparkie and I am so pleased you have raised again like the Titanic, I bet you been going loopy not able to post for a while:D. I hope you get well and stay well always as you have helped so many especially me.

 

The info you posted on the secret commissions thread is fantastic. I know you have gone and still are going through a very big battle with swift and believe me I know it can take its toll on many of us......and at your age and having to do so much is nothing but an inspiration to the rest of us.

 

Take care and hope you we will see more of you soon mate :D

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I been reading your posts sparkie and I am so pleased you have raised again like the Titanic, I bet you been going loopy not able to post for a while:D. I hope you get well and stay well always as you have helped so many especially me.

 

The info you posted on the secret commissions thread is fantastic. I know you have gone and still are going through a very big battle with swift and believe me I know it can take its toll on many of us......and at your age and having to do so much is nothing but an inspiration to the rest of us.

 

Take care and hope you we will see more of you soon mate :D

 

 

Thanks frettful,

Glad to think I help folks abit as well as myself. If I can help in stopping Swift from doing half of what they do ...at least that is something positive.

Thank you again

 

sparkie

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If you take note of what Mr Webster says below.

The transactions referred to in our accounts refer to loans that were sold by equitableassignment which is a valid and enforceable sale that transfers all the benefits,interest and liabilities of the loans”.

and you want to use what he said in your evidence should they take you to Court......you can use this .....The Law of estoppel

"estoppel is a rule of evidence (and not a cause of action) preventing a person from denying the truth of a statement he has made previously, or the existence of facts in which he has led another to believe"

 

This will stop him any attempt of trying to change what he said.

 

sparkie

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Hi Sparkie:)

 

I'm so very pleased to see you back on the forum and to hear that you are on the mend! I don't know what we'd do without you here to be honest - you have been sorely missed ;)

 

Thanks too for an excellent and extremely useful post!

 

Take things slowly and don't try to do too much - let Mrs Sparkie pamper you for a bit and only return fully when you're 100% fit.

 

Take care,

 

Landy x

LTSB PPI on various loans (current/settled) - Refunded inc 8%

 

MBNA 1 Charges - Refunded inc CI

 

MBNA 1 PPI - Refunded

 

MBNA 2 Charges - Refunded inc 8%

 

MBNA 2 PPI - Refunded

 

MBNA 2 Accident Ins - Refunded

 

Swift Advances (settled) Mortgage Charges -Partially refunded

 

Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%

 

Sainsburys (settled) Loan PPI - Refunded inc CI +8%

 

Sainsburys (closed) Card Charges - Refunded inc CI + 8%

 

M&S Money (closed) Card Charges - Refunded inc CI

 

M&S Money (closed) Card PPI - Refunded inc 8%

 

Direct Line (settled) Loan PPI - Refunded inc CI + 8%

 

Debenhams Card (closed) PPI - Refunded inc 8%

 

Swift Mortgage Charges -Refunded

 

Hitachi Finance (closed) Charges - Refunded

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If you take note of what Mr Webster says below.

The transactions referred to in our accounts refer to loans that were sold by equitableassignment which is a valid and enforceable sale that transfers all the benefits,interest and liabilities of the loans”.

and you want to use what he said in your evidence should they take you to Court......you can use this .....The Law of estoppel

"estoppel is a rule of evidence (and not a cause of action) preventing a person from denying the truth of a statement he has made previously, or the existence of facts in which he has led another to believe"

 

This will stop him any attempt of trying to change what he said.

 

sparkie

 

Any pointers on how this can actually work in practice? Do you file some sort of notice or simply tender as evidence the contrary statement/position on the basis of which you are estopping the said person?

 

Thanks,

atom

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Any pointers on how this can actually work in practice? Do you file some sort of notice or simply tender as evidence the contrary statement/position on the basis of which you are estopping the said person?

 

Thanks,

atom

 

I am not a legally trained person but it is my interpretation that should either Swift Advances plc or Swift 1st Ltd issue proceedings against anyone from now on.........due to the fact that their accounts state quite clearly that they sold all loans to the Kestrel companies £266 million worth in 2006 to 2007 and ...£200 million worth in 2007 to 2008, plus the fact that Mr Webster who signed these accounts and then confirmed they were sold by equitable transfer means that you can use the estoppel to prevent him changing his statement...should you use it in your defence in that ....the N244 court claim MUST include the Kestrel Company that the loan was sold to as a joint claimant..................this I can assure you they will NOT do because none of these companies hold a CCA licence an FSA licence nor an ICO licence....... to become joint claimant in a claim they would be committing a criminal offence.............common law of tort states no-one should gain from committing a criminal offence and no-one should lose

 

sparkie

 

Just my view

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