Swift Advances. Secured Loan Charges reclaim

[landy_alert]

Yes from me too, Sparkie!

[sweetjane]

Yes definitely from me Sparkie

Sweetjane

[Sparkie1723]

Thanks everyone....submission has now just gone.

 

sparkie

[Smarterchick]

A 'NO' from me then sparkie...

[Sparkie1723]

A 'NO' from me then sparkie...

 

You allways are a SMARTER****!!:D:p:D

 

sparkie

[Dougal16T]

SPARKIE

 

IT'S A 'YES' FROM ME - WHAT A BRILLIANT IDEA

 

BEST WISHES

 

DOUGAL

[determindator]

Yes from me Sparkie

[Doc2527]

a big YES from me too Sparkie:D

[sweetjane]

Just sent our submission to the TC.

Sweetjane

[Doc2527]

Hi Sparkie

 

I've PM'd you

 

Doc

[mmcourt]

A yes from me.

Fantastic Idea.

[Sparkie1723]

This is what I sent the Treasury Select Committe

 

To

The Chairman

The Treasury Select Committee on Sub Prime lending.

 

The RT Hn John McFall M.P.

House of Commons.

 

Dear Mr McFall,

 

I do hereby submit a summary to you and the Committee regarding Swift Advances Plc, I have attempted to cut down the amount of information to a minimum, but hope I have given a reasonable insight of how this particular lender operates.

 

I have already filed three complaints to the Office of Fair Trading and have prepared a further submission based on my Court Case and the way this firm “ cleverly manipulates the law, the Courts and Judges.

 

I must add here that my summary is not just “sour grapes”.

 

Thanking you,

 

Yours very sincerely and respectfully

 

Summary attached.

 

 

 

 

 

SUBMISSION BEFORE THE HOUSE OF COMMONS DEPARTMENTAL SELECT COMMITTEE FOR THE TREASURY

 

 

INQUIRY INTO MORTGAGE ARREARS AND ACCESS TO MORTGAGE FINANCE

 

 

CHAIRED BY THE RIGHT HONOROUBLE JOHN MCFALL, M.P.

 

 

 

 

 

 

Swift Advances Plc

 

 

 

1..This Lender specialises in non status lending by way of both regulated and unregulated credit agreements secured loans. I make this summary of the way we have been treated by this company but make reference to other borrowers situations and cass of whom I have good knowledge of

 

2…Before agreements are signed Swift Advances “appear” to be extremely helpful, polite and courteous, but once this has happened, a different attitude is adopted by them.

You are then dealing with what appears to be another completely different company.Should a borrower encounter difficulty in meeting payments they are severely punished by extortionate penalties.

 

3…In most cases borrowers are misled into what they are actually borrowing, myself is one example although I know a great deal of other borrowers, have been misled into borrowing more money than they asked for, and I have a dossier of those borrowers agreements and borrowings and treatment of them by Swift Advances.

 

4…Should a borrower encounter payment difficulties, Swift have a counselling service within their organisation, but once an account is passed to this service even more penalties are applied and the account spirals out of any means of control by the borrower. Proposals that are put forward under the veil of assisting the borrower are far too demanding and the account spirals upwards ending in the very speedy action for possession of their property.

NO mercy is shown by this Firm and expensive Barristers are used to ensure possession orders are obtained because any defence is by the borrower as a Litigant In Person, who the Courts and Judges believe are just “wasters/debtors, who know nothing about the law.

 

5…In the case of this firms regulated agreements, in some the fees and charges for credit are added to the loan total, in others they are separated from the loan total, but in each case no matter how a LIP argues his case he loses every time.

Judges do not listen to a LIP’s argument that either the Consumer Regulations apply to these agreements or they do not, LIP’s are treated like imbeciles.

 

6…In possession proceedings taken under their unregulated agreements which are not Regulated by Consumer Statutes, the firm argues and constantly refer to these statutes ( as in our possession proceedings) and the Judge accepted these references, when I attempted to argue that the total sum we really borrowed which was far greater than what we applied for is not shown on the agreement, and when I attempted to refer to these statutes the Judge stated that they did not apply to unregulated agreements, I have a copy of my judgement summary.

 

7…In all the antecedent negotations of loans with this firm they completely ignore all the guidelines given by the OFT on non status lending.

 

8…Their agreements instead of being clear and concise are not clear they are considered “murkey” and are very cleverly drafted, at first reading the borrower thinks they know what they contain and is agreeing to, but it only after the agreement is signed and something goes amiss or wrong that they study their agreement to see what the firm has done can be done by way of the terms and conditions, it is then discovered that they have been “cleverly” trapped and are in serious trouble.

 

Our Individual case.

 

In our case we initially applied to borrow £XX.000 and that is what our application form shows.

 

We were sent TWO application forms by the Broker involved, with instructions to fully complete ONE application form by hand and sign it, and merely sign the other one so that they could type all the information from the handwritten one on the one signed but unfilled

 

When we filled in the application form (which I did personally) I filled in EVERY relevant box with exact and completely accurate information.

 

The application was for £XX.000, on the application form presented to the Court was the typed application form filled in by the Broker 60% of the information on this application form is either missing or incorrect.

 

After we had sent the application forms back to the broker because we were informed that fees and charges would be deducted from the sum borrowed we were persuaded by Swift Advances that we should borrow more money to take care of al these charges if we wanted to have the benefit of the full amount of £ XX,000,

 

Instead of sending us a new application form Swift merely manually altered( tampered with) our typed incorrectly filled in application form for £XX.000 to show £??,000.

I attempted to bring this to the attention of a court as an offence under the Forgery and Counterfeit Act, again because an LIP is considered such a lowly person knowing absolutely nothing about the law the Judge dismissed it as if it did not exist, and as not interested.

 

We were led to believe that we were now borrowing £XX,000 and agreed to that.

 

However we found out after we had signed the agreement that we had actually borrowed £??,***, Swift Advances instead of taking the charges and fees from the £XX,000 as we expected, added them on to the loan “outside” the agreement, they do this all the time.

 

This has been carried out on many of the customers who have found out too late that they have borrowed more money than they applied for.

 

In order to keep this summary to a minimum the consequence of this I(we) became involved in a bitter dispute with Swift who finally applied for possession of our property which I defended under Section 140 of the New Unfair Relationship of the Consumer Credit Act 2006 in which I failed, and although I was able to defeat the possession claim because I paid all arrears up before the hearing the possession order was “adjourned” by the Court in order that it can be resurrected at any time should we go into default again.

 

A further operation of this lender is that the agreement states that the interest rate is variable and they can vary it to cover any increase in their borrowings….which would be an increase in their borrowings, which they did increase 3 times in the first year of the agreement because they said the LIBOR rate under which their borrowings were governed had increased , however now that Libor rate is now far lower that it was before our agreement was signed, Swift have not reduced their rate on any of their agreements by that same reduction.

 

They vary the rate upwards very quickly… never downwards,…. in my case that court did not see this as any kind of unfair relationship.

Another allegation of the operations of Swift Advances is that they will never fully supply any data/information requested by any borrower under specific Subject Data Access Requests made to them under the Data Protection Act, another statute they flout continuously.

 

Swift Advances also make false misleading statements to the Courts which Judges believe because they do not even consider such companies would make those statements.

 

I have absolute irrefutable proof of such statements made under oath and the evidence to show it is false and misleading, in other words they abuse their position by stating that they are a responsible lender.

 

If this was so we should never have been lent the money we were lent in this first place as we were both 70 years old when we made our application, I was at the time still self employed but had to cease being so 13 months after the loan was taken out for age health reasons.

 

First Plus the company we first applied for this loan to declined that application for reasons we were considered too old even though our offered security was ample, all Swift considered was the equity in our property and not our forcastable future estimate of ability to repay that loan, First Plus took this into consideration, and we were declined.

 

The bulk of this loan was spent on our property, increasing its value..

 

Finally I would like to direct the Committee to the Consumer Action Group web site

http://www.consumeractiongroup.c o.uk/forum/

 

Click on Other Institutions and then click on Swift Advances.

 

I am absolutely certain that an enormous amount of information and data will be able to be gleaned that will assist the Committee in this issue.

 

 

End of submission

Edited June 30, 2009 by Sparkie1723

[pkelly]

Hi Folks

I see your still at it Sparkie, that was a great letter. I have been away a while, been in touch with old ex Bulgarian police friend, got a few eye openers, in spite of the so called corruption there, at least its out in the open,

must get up to speed with this swifty thing, before I head off again,

just spoke to one swifty contact, they cant wait to be taken to court.

in fact they are planning to take swift themselves if they mess about much longer.

and the contact they had from the inside might even go to court with them.

anyhow everyone keep in touch everyone:)

[zeblet]

Hi Sparkie

Have not been about for a while. Was so depressed after court case with Swift where they made me agree to drop the Unenforceable Loan case under section ? of CCA that i disappeared into a black hole. Although their counsel did say that it did not mean I could not go down another route but dont know where to begin. Anyway now back again and They are on my back again. My circumstances are un changed and after their "kind" {ha ha) gesture of letting me pay half installments for 3 months now want full amount plus an amount towards arrears and no doubt they will charge me excessively for this. Also I am still under the threat of repossession.

I see you are doing great things and the sumission to the Treasury Comittee looks good. It would be so good to give this company the grief that they so readily dish out,

[Sparkie1723]

Hi Sparkie

Have not been about for a while. Was so depressed after court case with Swift where they made me agree to drop the Unenforceable Loan case under section ? of CCA that i disappeared into a black hole. Although their counsel did say that it did not mean I could not go down another route but dont know where to begin. Anyway now back again and They are on my back again. My circumstances are un changed and after their "kind" {ha ha) gesture of letting me pay half installments for 3 months now want full amount plus an amount towards arrears and no doubt they will charge me excessively for this. Also I am still under the threat of repossession.

I see you are doing great things and the sumission to the Treasury Comittee looks good. It would be so good to give this company the grief that they so readily dish out,

 

Hi zeblet,

 

Great to see you posting again ...do not get so low...they tricked you into giving up your defence under section 18. and making you sign an agreement not to pursue that direction ...I am certain you would have won ......they are now running scared stiff of that section, I will get another member to contact you ....who will also help you...your cause has not run out of energy by a long shot ...keep your chin up.....:wink:8)

 

sparkie

Edited July 7, 2009 by caro
spelling my teachers will suspend me

[Dougal16T]

Good morning all,

 

Just to let you see the two letters received from Swift.....and what a lot of 'careful avoidance of the truth they are playing at!!

 

Any thoughts, please let me know......

 

Best wishes to everyone

 

 

Dougal

Page 1 swift letter 1.doc

Page 1 swift letter 2.doc

[Sparkie1723]

Good morning all,

 

Just to let you see the two letters received from Swift.....and what a lot of 'careful avoidance of the truth they are playing at!!

 

Any thoughts, please let me know......

 

Best wishes to everyone

 

 

Dougal

 

 

Morning Dougal,

 

 

Adobe reader Cannot open file, message says it may be corrupt or damaged can you use photo bucket and repost........

 

sparkie

Edited July 8, 2009 by Sparkie1723
item removed

[Sparkie1723]

Hi zeblet,

I have e-mailed you a couple of times

 

sparkie

[42man]

I have also Sparkie......

[Dougal16T]

Good evening all,

Apologies for delay...busy day...!

 

I'll use Photobucket tommorrow and post docs then.

 

Best wishes to all

 

 

Dougal

[pkelly]

Hi Folks

been abroad as while. its that time of year, anyhow been keeping an eye on you lot lol

has anyone got their data papers from our wee birdy, if so does anything on it refer to the bigger bird, Kestrel?? or any other company.

also does anyone have their origional broker who is still alive and kicking.

I would be interested in names of all your brokers or other names on your data.

Thanks Folks

[Dougal16T]

Morning Dougal,

 

 

Adobe reader Cannot open file, message says it may be corrupt or damaged can you use photo bucket and repost.........

sparkie

 

 

Good morning all,

 

Two letters received from Swift which make very interesting reading

 

All comments welcome

 

Best wishes

 

 

Dougal

Edited July 8, 2009 by caro
edit quote

[pkelly]

`rent a hand limited`

does anyone know of this company I am trying to sort out a swift move, in the london area.

a wee birdy told me they might be able to help8)

[Sparkie1723]

This is what it says in the Directors report of Swift Advances Plc 2007 to 2008 accounts lodged with Companies House.

19.2 million was paid in fees and commission to Brokers

This completely contradicts what Mark White ( who should change his name to "Cilla's" stage name BLACK") said under oath in my Court case, that Swift do not pay commission to Brokers.

 

The fact is WE THE BORROWERS pay the brokers fees SWIFT doesn't....therefore in reality Swift paid the full 19.2 million in Commission and have claimed that amount against their tax committments... if we pay the Brokers FEES as we know we do , (I paid £3,225 to my broker now Bust) ......then Swift have paid all of this this 19.2 million in commission. some of it or all of it "secret commissions" and even the Directors report contains a deliberate false misleading statement ......... If Swift Do say that they are the ones who pay the Brokers fees then we should get all our fees paid back !!!......that's not cricket is it?? They are "tampering with the ball (accounts)!" just a little bit.

 

 

As "Cilla" would say that's a "lorra lorra" money!!!!

sparkie

Edited July 10, 2009 by Sparkie1723

[Dougal16T]

Good morning all,

Swift Advances plc do not hold a Consumer credit licence. I believe this may give them great difficulty in pursuing debts, but I'm researching that.

 

Best wishes

 

 

Dougal