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    • Evening all,   I have deliberated over this offer for two weeks and I have decided to take their offer. I do understand that some may prefer us to go to court and receive a judgement but with our personal circumstances and my current military commitment that could become an issue. I am so grateful for all the help and support you have all offered me over the last few months. I will continue to monitor this site and push all those that are being wrong to get in touch.   Thank you! what you all do is truly amazing!
    • When I first responded to the PAPLOC, and received that 29 page junk back it was accompanied with a letter saying that they had already responded to my request back on Feb 18th 2023,(I never received it). I was just clearing out some paperwork today and found a letter from Lowell, dated Feb 17th 2023, explaining that they were still waiting for the documents from PayPal, and my account was on hold  until further notice.  Does this mean they were lying and can it be used against them if this goes any further? I have now filed my defence, and have had an acknowledgement from Overdales and the court. A little threatening from Overdales , explaining that part of my defence was invalid because they have now complied with the CCA, and they were still waiting for the Default notice from PayPal.
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Swift Interest rates....


42man
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We know Swift have over the last years increased their interest rates and I think decreased it once....does anybody have the dates of the increases/decreases...they state they are in line with Libor, but I seem to remember they increased them on the back of Bank Of England rates !!! I want to check them against Libor and BOE changes....

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200905 March0.50-0.50 05 February1.00-0.50 08 January1.50-0.50200804 December2.00-1.00 06 November3.00-1.50 08 October4.50-0.50 10th April5.00-0.25 7th February5.25-0.2520076th December5.50-0.25 5th July5.75+0.25 10th May5.50+0.25 11th January5.25+0.2520069th November5.00+0.25 7th September4.75+0.2520054th August4.50-0.2520045th August4.75+0.25 10th June4.50+0.25 6th May4.25+0.25 5th Feb4.00+0.2520036th Nov3.75+0.25

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  • 5 months later...

Just some info about Swift and their interest rates.

 

I challenged JOhn Webster a told him that Swift were increasing their interestt rates every time Libor rate went up...........when they obtained their funding at a fixed capped rate....so any increase did not affect their cost of that funding......therefore increasing the interest on their loand agreements was just another way of making more money by forcing borrowers to pay more.

 

This was his reply

 

Dear Mr sparkie

 

Thank you and we shall of course co-operate with any proper authority by whom we are contacted.

 

It's disappointing to note however that you are unable to admit that your allegations and assumptions that our funding was at a fixed rate were completely incorrect.

 

Yours sincerely,

 

John Webster.

 

 

But what it says in their accounts is this

 

"The company has entered into interest rate cap contract to provide a hedge against increases in interest rates"

 

The word "hedge" in this context means ..."a protection" against interest rises..

can't be clearer than that. If LIBOR rate goes up it does not affect Swifts borrowing their rate stays the same....if it goes down their rate stays the same.

 

That is why they never lower it................BUT they allways put it up

 

sparkie

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  • 5 weeks later...

Hi 42man. Is it possible for you to point me in the direction of somewhere I can work out the APR on my mums agreement with these animals? I found a website but its in dollars and I think the US way of working out the apr is different to the UK. If you know of a spreadsheet template or such as well I would be grateful. Thanks.

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Hi 42man. Is it possible for you to point me in the direction of somewhere I can work out the APR on my mums agreement with these animals? I found a website but its in dollars and I think the US way of working out the apr is different to the UK. If you know of a spreadsheet template or such as well I would be grateful. Thanks.

 

Save you the job 42man .go here coolchris

sparkie

 

Loan APR Calculator. Calculate APR from loan amount, repayments and term

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