Swift Advances. Secured Loan Charges reclaim 2

[42man]

Nothing to do with this one is it ? - http://www.mortgageintroducer.com/mortgages/532/25/Secured_lending/Second_charge_loans_-_a_possible_solution_to_the_puzzle_.htm

[andrew1]

Swift Group? who are they? - aren't they the unlicenced trading style of some company or another when most of these loans were taken out?

[frettful38]

Bloody fantastic stuff there pkelly, especially that part about interest rates as I am looking for something similar to that with my own stuff.

 

Thanks a million

[frettful38]

Just wanted to ask a quick question on here about these interest rates. Does APR and Annual Nominal Rate mean the same thing? I know that unreg agreements are covered by the CCA but should the words APR have to be shown on unreg agreements or not?

[pkelly]

Bloody fantastic stuff there pkelly, especially that part about interest rates as I am looking for something similar to that with my own stuff.

 

Thanks a million

 

wassnt me this time I seem to be able to get cross wires or a short circuit I see sparks every now and again

lol it only takes one to start a forest fire. and you know what happens they the poor wee birdies fly off to another nest

[pkelly]

Just wanted to ask a quick question on here about these interest rates. Does APR and Annual Nominal Rate mean the same thing? I know that unreg agreements are covered by the CCA but should the words APR have to be shown on unreg agreements or not?

 

1…APR% interest is not a requirement to be stated on unregulated Credit Agreements nor High Nett worth agreements

2…The nominal % rate of interest is not the same as APR% interest…..The APR can be worked out from the nominal rate if you wish to do so.

When borrowers borrow money from Swift Advances plc, their Broker never corresponds or negotiates the " Deal" DIRECT with Swift Advances plc....It is all done via "Swift Advances" who were an unlicensed trading name of Swift Advances plc.

In truth and fact " Swift Advances" were another intermediary between the borrower and Swift Advances plc, who have categorically stated that they do not deal direct with the public.....they do ( or did it) via "Swift Advances" ..........."Swift Advances" are therefore an intermediate broker.

Unlicensed trading name/style being used to conduct Consumer Credit and Credit related business......result....Criminal Offence, Section 39 (2) of the Consumer Credit Act.......and a Misrepresentation of fact.

If you have a First Mortgage it is Swift Advances that contact them during the antecedent negotiations,

let your First Mortgage holder know that they conducted business with an unlicensed trading style , you will find they will not be "happy chappies" .....they could be drawn into the "mellee" so to speak

[sweetjane]

I guess it would be worth anyone being taken to court by Swift for possession or eviction to show the judge proof of the use of unlicensed trading styles and the costs added to their loans by those potentially unlawful trading styles which have lead to loss and detriment and quite often made the loans unmanageable thereby affecting your ability to pay. All those judges everyday all over the country as far as I can see from Court Lists with several Swift cases on the go would be very interested in these issues. Also make sure you make the Judge aware that Swift are being investigated by the OFT & FSA and that Swift themselves are putting aside many millions for expected fines and consumer redress.

[frettful38]

Thanks pkelly for the info on the interest rate, bit of a bummer but guess if that's what the regs say then nothing I can do FOR NOW LOL.

 

Andrew blimey mate you really have put some very good and supportive info up for any swift customers facing difficulties with swift. I hope that everyone gets justices from this, really I do.

[Dougal16T]

Well good morning all,

 

Thanks to Andrew 1 for some excellent posting. Exactly on the money - if you will pardon the pun!

 

Best wishes to all as always (apart from certain small birds, that is!)

 

Dougal

[sweetjane]

Andrew 1 you are such a wordsmith. Brilliant and concise - thank you. Just in time for my meeting with my MP this morning - I think everyone should send Andrew's posting to their MP and campaign for Swift's repossessions to be halted while they are being investigated. Also campaign for the Consumer Advocate which would have been set up by Consumer Focus (now disbanded becuase of the Quango cull) to be reinstated in some way urgently. This would be a means for a group of consumers to take group legal action. Might I suggest Andrew that you post your info on other consumer sites because there are so many people being taken to court by Swift and the more judges we put this in front of - the better for us all. :whoo:Good Luck everyone.

[frettful38]

Excellent advice SJ and very encouraging for all those suffering......well done

[Doc2527]

Hi Folks

 

Well written Andrew1 (very concise and thorough), excellent post.

I will certainly be informing my first mortgage provider with the information regarding them having conducted business with an unlicensed trading style.

 

Can someone give me some idea of what they would possibly do under these circumstances? My first Mortgage provider that is. (PM me if this would give too much information to others watching on the open forum?)

 

Regards

 

Doc

Edited January 22, 2011 by Doc2527
spelling

[pkelly]

http://www.accountancyage.com/aa/analysis/1938190/video-taxman-makes-arrests-offshore-evasion

 

have a look at this

the tax man had been contacted by a bright spark and they want all the stuff we have on our friends, this will take a while to put in order but they will without doubt act on all the information we are putting together.

it will take them a while but I would not want to be a swiftie at the minute

[Doc2527]

I was only joking about the migration stats??

Edited January 22, 2011 by Doc2527

[frettful38]

Hi pkelly, you inbox is full mate

[jacqui_o]

Thank you seems so inadaquate a word for allthe valuable info you guys have posted........ Andrew,Sparkie( got it right) Pkelly & Dougal

 

Andrew does this only apply ot new repossesion applications? or couldit be used for an suspended one? tohave it cancelle duntill all the investigations have been completed?

[andrew1]

Thank you seems so inadaquate a word for allthe valuable info you guys have posted........ Andrew,Sparkie( got it right) Pkelly & Dougal

 

Andrew does this only apply ot new repossesion applications? or couldit be used for an suspended one? tohave it cancelle duntill all the investigations have been completed?

 

Any. This is about the trading style of Swift Advances being used in the past. They have only recently registered the trading style and applied to the OFT to have it applied to their licence following one of our teams revelation on here and to them that they were using unlicenced trading styles - it is not retrospective. If a possession order is suspended, then I would suggest you pass this information on to either the solicitor who acted for you, the CAB or the court direct for their directions.

 

If you have a Consumer Credit Act regulated loan (under £25,000 in old money) then they have no answer in our opinion. If you have an unregulated loan Swift Advances plc will tell you they didn't need a licence as your loan was unregulated so it is 'irrelevant' to suggest they do need one - ask your legal adviser, Trading Standards or the OFT whether it is irrelevant or not, don't take my word for it, We are not lawyers as I have said - We can only point you to things we have found out and it is for you to have legally accredited and confirmed as to the remedies . We'll let the court advise Swift through their judgements. Just take care and take advice.

Edited January 22, 2011 by andrew1

[pkelly]

Hi pkelly, you inbox is full mate

sorry dont use this much am only able to access it via ipod at work and its not easy

I am mostly out of the country email me anyone on

Edited January 22, 2011 by MARTIN3030
You know full well rules on posting

[frettful38]

email sent pkelly

[landy_alert]

Thanks for an excellent post Andrew - tried to give you rep, but I need to spread it around first, lol!

[pkelly]

http://www.do-business.net/Indexer/Company/Rent-A-Hand-Ltd

 

any chance of someone popping around to rent a hand to see if Amanda is still about there

No one has yet made sence of why this wee company is in with the big guys

cant say what we found out otherwise big brother will bar me like sparkie

[jacqui_o]

Thank you Andrew, so a letter direct to the court enclosing copie sof the documents posted? yes? pointing out they acted unlicenced....... would it help if I posted a draft of the letter prior to sending it? sorry for asking what may well be obviousl questions...

[jacqui_o]

Is showing how thicvk she is but what highlighted docs.....lol.......

 

Hey Kestral are showingthe same addy as SEfit!!!!!!!!!!! maybe I should be SARing them as well then.....

[Doc2527]

Hi LL

some emails deleted now!!??

Doc

[andrew1]

Hi LL

some emails deleted now!!??

Doc

 

They'll be back