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    • @BazzaS No..  Just that I like to make new ideas work, but have yet to get good at making money out of them! The ideas have worked, and I am now on my sixth startup. I didn't consider contract law in the past though. I have learned my lesson!
    • thanks EB, for clear and concise advise. should i send it by recorded delivery to ensure receipt. i have been hovering about a little, pondering over the situation
    • What is that? Does it have a DSM-5 (or ICD-11) coding?
    • I have tried to track down a site manger but it appears the site has been sold again - London and Cambridge properties.  I have spoken to a local councillor Tony Robertson, he advised that the council are responsible for the CCTV cameras, and to contact the council switchboard. I have rang the switchboard and  spoke to a general operator who advised me to write in requesting the information. I will advise when I receive a reply. Of the three people that drive the car, there are two main drivers no-one has seen a ticket put on the car at any time.
    • @Pierre GA - The jargon behind DD 'guarantees' is, to my mind, mostly marketing. Direct Debits only serve to profit banks. The consumer does not benefit at all. It is far better to pay, via instant transfer from modern digital banks, than by an outdated Direct Debit scheme. Just think for a second.. Does one really want to hand over one's (in my case 'dubious') financial wealth to a third party computer? I would far rather transact and settle my bills myself; I think I should proffer the term 'Financial Zen.'  
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    • Future Comms issues. Read more at https://www.consumeractiongroup.co.uk/topic/416504-future-comms-issues/
      • 3 replies
    • This is a bit of a lengthy one but I’ll summerise best as possible.
       
      THIS IS HOW THE PHONECALL WENT 
       
      I was contacted by future comms by phone, they stated that they could beat any phone contract I have , (I am a limited company but just myself that needs a business phone and I am the only worker) 
      I told future comms my deal, £110 per month with a phone and a virtual landline, they confirmed that they could beat that, £90 per month with a phone , virtual landline  they also confirmed they would pay Vodafone (previous provider) the termination fee. As I am in business, naturally I was open to making a deal. So we proceeded. 
      Future comms then revealed that the contract would be with PLAN.COM and the airtime would be provided by 02, I instantly told them that this would break the deal as I have poor 02 signal in the house where I live as my partner is on 02 and constantly complaining about bad signal
      the salesman assured me he would send a signal booster box out with the phone so I would have perfect signal.
      so far so good.....
      i then explained this is the only mobile phone I use for business and pleasure, so therefore I didn’t want any disconnection time in the slightest between the switchover from Vodafone to 02
      the salesman then confirmed that the existing phone would only be disconnected once the new phone was switched on.
      so far so good....
      • 14 replies
    • A shocking story of domestic and economic abuse compounded by @BarclaysUKHelp ‏ bank complicity – coming soon @A_Gentle_Woman. Read more at https://www.consumeractiongroup.co.uk/topic/415737-a-shocking-story-of-domestic-and-economic-abuse-compounded-by-barclaysukhelp-%E2%80%8F-bank-complicity-%E2%80%93-coming-soon-a_gentle_woman/
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    • The FSA has announced large fines against DB UK Bank Limited (trading as DB Mortgages) - DeutscheBank and also against Redstone for their unfair treatment of their customers.
      Please see the links below for summaries and full details from the FSA website.
      It is now completely clear that any arrears charges which exceed actual administrative costs are unfair and therefore unlawful.
      Furthemore, irresponsible lending practices are also unfair and unlawful.
      Additionally there are other unfair practices including unarranged counsellor visits - even if they have been attempted.
      You are entitled to refuse counsellor visits and not incur any charges.
      Any charges for counsellor visits must not seek to make profits. The cost of the visits must be passed on to you at cost price.
      We are hearing stories of people being charged for counsellor visits for which there is no evidence that they were even attempted.
      It is clear that some mortgage lenders are trying to cheat you out of your money.
      You should ascertain how much has been taken from you and claim it back. The chances of winning are better than 90%. It is highly likely that the lender will attempt to avoid court action and offer you back your money.
      However, you should ensure that you receive a proper rate of interest and this means that you should be seeking at least restitutionary damages - which would be much higher than the statutory 8%.
      Furthermore, you should assess whether the paying of demands for unlawful excessive charges has also out you further into arrears and if this has caused you further penalties in terms of extra interest or any other prejudice. This should be claimed as well.
      If excessive unlawful charges have resulted in your credit file being affected, then you should take this into account also when working out exactly what you want by way of remedy from the lender.
      You should consult others on these forums when considering any offer.
      You must not make any complaint through the Ombudsman. your time will be wasted, you will wait up to 2 yrs and there will be a minimal 8% award of interest and no account will be taken of any other damage you have suffered.
      You must make your complaint through the County Court for a rapid and effective remedy.

      http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/120.shtml
      http://www.fsa.gov.uk/pubs/final/redstone.pdf
      http://www.fsa.gov.uk/pubs/final/db_uk.pdf
       
      http://www.fsa.gov.uk/pages/consumerinformation/firmnews/2011/db_mortgages.shtml
      Do you have a mortage arears claim to make? Then post your story on the forum here
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borolad63

swift advances and FSA and others

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hi Does anyone know of FSA or other governmental bodies taken Swift Advances to task and fined them for unfair tactics/practises with their customers?

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Hi borolad

 

Sorry to see you've had no response to date, I know a little about this from mortgage trade press etc. According to statements made in their latest accounts, Swift (Swift 1st Limited and Swift Advances plc) are subject to investigations by both the FSA and OFT. Details were reported in the mortgage trade press, you can read more here:- http://www.mortgagestrategy.co.uk/distribution/swift-investigated-by-fsa-over-arrears-handling/1023883.article

Nothing is concluded, contrary to what some may be believe, the FSA have not fined Swift or announced any finding against them at all. If you pay attention to the detail of what is said in the accounts (and quoted in Mortgage Strategy), £9.4million has been set aside to deal with the FSA investigation as a whole. £1.4million has already been incurred, probably on legal expenses etc whilst £8million has been set aside for a potential fine, legal costs and costs of any redress programme. The good news there is that it looks like there might be some redress to consumers, but the bad news is that it will only be to Swift 1st Limited customers. The FSA only regulate first charge mortgages so their investigation will only deal with Swift 1st being an FSA regulated company and the customers with first charge mortgages.

The OFT case deals with Swift Advances plc and according to the information in Mortgage Strategy and on the public register of consumer credit licensees it involves the imposition of requirements. The OFT has imposed requirements in the past such as on debt collection businesses in relation to practices which were in breach of guidance and on banks in relation to the unfair use of charging orders. The OFT don't have the power to order redress to consumers and requirements are intended to prevent a business doing something the OFT is unhappy with in future, for more about the OFT's enforcement work see their website - http://www.oft.gov.uk/OFTwork/credit/enforcement-action/. If the OFT successfully imposes requirements I expect this will be publicised as this is what has happened in the past. However, if the requirements are not imposed there may not be any publicity so if you want to keep an eye on the progress on the case check the public register here:-

http://www2.crw.gov.uk/pr/Default.aspx

Swift Advances' licence number is 391618, just to make it easier for you to check because it can be tricky to search by the name of the organisation.

 

Hope this is useful.

 

KC

  • Haha 1

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Hi 42,

 

I have looked at the home page for Swift and it says to my surprise, it is regulated by the FSA and abides by the OFT guidlines? Very weird as they seem to pride themselves as being unregulated, their get out clause.

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They only say they are not regulated with Unregulated loans over £25,000 which were taken out before the new limits were lifted. I have a boyfriend who works in Swift so I get a bit of feed back about what's goin on in there. You peeps keep him working late! I've got a loan with them too so it's weired hearing him talk about all this and you peeps giving them hell all the time I am paying their charges as well.

 

I can't say too much as you will understand, but just keep up what you are doing he doesn't like his job anyway, and I think they are abunch of **** for what they do to peeps in trouble.

 

Keep working on their legal team and cut them off from using their barristers. There's one bloke in there who seems to run things and I think he's creepy knowing what he's doing, gives me the creeps every time I meet him. My boyfriend said when he's not around the place is much nicer. Yesterday he said he was out in Tunbridge I think he said, something like that anyway and the office was much nicer.

 

Killerschick,I think I might know you. Do you think the OFT will just fine them or take away their CC license ? 1st is mortgages and the FSA are already dealing with them but inside Arcadia rumours are peeps are looking for jobs....what's your take on it?

Edited by spot

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They only say they are not regulated with Unregulated loans over £25,000 which were taken out before the new limits were lifted. I have a boyfriend who works in Swift so I get a bit of feed back about what's goin on in there. You peeps keep him working late! I've got a loan with them too so it's weired hearing him talk about all this and you peeps giving them hell all the time I am paying their charges as well.

 

I can't say too much as you will understand, but just keep up what you are doing he doesn't like his job anyway, and I think they are abunch of **** for what they do to peeps in trouble.

 

Keep working on their legal team and cut them off from using their barristers. There's one bloke in there who seems to run things and I think he's creepy knowing what he's doing, gives me the creeps every time I meet him. My boyfriend said when he's not around the place is much nicer. Yesterday he said he was out in Tunbridge I think he said, something like that anyway and the office was much nicer.

 

Killerschick,I think I might know you. Do you think the OFT will just fine them or take away their CC license ? 1st is mortgages and the FSA are already dealing with them but inside Arcadia rumours are peeps are looking for jobs....what's your take on it?

 

Hi spot,Interested to hear that we might know each other (and curious as to how?), send me a message if you want to tell me who you are in real life and how you know me (obviously don't post it on the forum!). The OFT does not have the power to fine a business straight out like the FSA, they can only impose fines for breaches of requirements but first they would need to impose requirements. The public register (which you can access here http://www2.crw.gov.uk/pr/Default.aspx the licence number is 391618) shows that the OFT are Minded to Impose Requirements so I guess that's what they are trying to do rather than take away the licence. The OFT have got requirements against other businesses in the past and details are on the OFT website here http://www.oft.gov.uk/OFTwork/credit/enforcement-action/#named1 which gives an idea of the sort of things they're used for.KC

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Thanks KC - sorry for long wait to respond. I see Swift have had this put on today

 

Determined to Impose Conduct Requirement(s)

 

17/06/2011 Determination of minded to impose requirements notice

 

what does this mean? there's so much confusion up there from what I hear....

 

I'll answer your pm now I know what it is..

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Hi

 

Have you seen the news about the OFT announcement about Swift today.

If they lose their license does anyone know how that would play out....?? What effect will it have on their business??

 

thanks

doc

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Hi

 

Have you seen the news about the OFT announcement about Swift today.

If they lose their license does anyone know how that would play out....?? What effect will it have on their business??

 

 

Anyone out there!?? with an answer??

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Highly unlikely to happen....but if it did then they might sell off their toxic debt portfolio to somebody like Paragon, or Capstone or GE (or some other horrible company like that) and go into selling life assurance or pet or car insurance...


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Hi just been down the long and winding road of this one. FSA and FSO looked into my case but is it pre regulation 2002. Therefore must go to Finance and Leasing. Doing this now. Can anyone tell me following on from the news on their licence how does this affect pre regulation loans. As far as I can see they are the dodgiest of the dodgy. Where does that leave people in my postion. Borrowed 20k paid back 24k to date. Redemption figure was for 48k and now because of the way they add on interest they say that my 240 month loan will have 10 years added on when I retire in 2022. Just another way to snaffle my property in my old age!!! I will see them @@@@@@@@@@@ before they do it to me methinks.

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This might have something to do with it, someone posted this on the cagmagazine....sounds familiar to me:

 

 

 

 

"The abuses of Swift pale into comparison with those of Acenden previously trading as Capstone and the defunct Lehmans lenders SPPL,PML,SPML,LMC they represent.

 

Ask any of the site team how many falsely premised repossessions they have had to deal with because of this group.The Mail has run numerous articles on them and yet still they remain beyond regulation and unchecked.

 

The old SPML thread dealing with this was over 300 pages long.

 

CAG needs to run a campaign on these companies in just the same way it is running one against Swift.

 

This was recently received by email from an ex capstone acenden employee and is evidenced a thousand times over in numerous threads.

 

Author: Blowingthewhistle

Comment:

Sadly you all look like you only know half the story.

I used to work for Capstone in the shall we say customer service department. That was the official title anyway.

Ok a quick run down

There are very strict managerial instructions stating that payment date changes are not allowed. We were also not allowed to change accounts to interest only.

We were actively encouraged to do everything to ensure that an account falls into arrears and than to keep it in arrears.

We would ask for large payments but never enough to clear the arrears. We had one main goal and that was to keep the charges being put on as many accounts as possible.

The charges go towards the annual profits upon which a bonus based on performance is paid, so it was in our own interest not to help borrowers

And yet more this is the way Acvenden run their business model

 

1.From the day the loan is taken out Block insurance policy is debited to the mortgage account despite you and your own insurance company informing them you already have an insurance umpteen number of times,your account is then immediately in arrears with fees added..

2.Mysteriously lost payments putting your loan in default,exorbitant fees then added.

3.Bullied and threatened into paying lump sums as loan modifications in times of hardship do not exist..

etc etc

Introduction to the Mortgage Servicing Fraud Operation(adapted from the American model as practised by Lehmans USA)

This is a game of heads they win – tails you lose.

• These are not “predatory lenders.”

These companies do not loan money. They operate in the lending industry after-the-fact. They take on a function that a lender doesn’t want – the backroom functions of handling payments, escrow accounts, annual statements, dealing with borrowers, collections, etc. The perpetrators of the loan servicing [problem] acquire the servicing rights to loans that other companies have already made. (Loans that were deliberately constructed by predatory lenders are ideal for processing through servicers that specialize in aggressive collections or rapid foreclosure processing, but the loan servicing [problem] can be operated against any mortgage loan if the servicer acquires the rights from the lender.)

• These [problem]s are designed and deliberately operated.

These situations are not errors, mistakes or situations where a servicer’s managers or employees failed to do their job. Their systems are well-designed and state-of-the-art in terms of analytical technology that helps them choose and process their victims. These [problem]s generate enormous profits from a business that is difficult to run, people and litigation intensive and normally only marginally profitable..

 

• You, the borrower, are not their customer. Lending companies and investors are their customers. As a borrower being “serviced” in the [problem], you are simply one of millions in an ever-growing pool of what the financial services industry deliberately labels as “sub-prime” borrowers waiting to be taken advantage of.

 

• They have almost unlimited legal resources. If you had the financial resources to have effective legal representation and the documentation to challenge them, they would turn their attention to easier targets. Of course, because most sub-prime borrowers are not well off and don’t have an attorney, you’re a likely target.

• They have leverage and information and will prey on your fears. The fear of possibly losing your home is the key that unlocks your bank account for them. They know almost everything about you financially and even from an employment and income basis. They are made aware of your inquiries into other lenders about refinancing even without a request for a payoff and that shopping may lead them to target you before you can get out of the loan you’re in.

 

• They are experts with millions of successful cases behind them. The loan servicing industry, including those who founded and are running the servicing [problem] companies, helped craft the “standard” loan documents in widespread use. They are written entirely for the protection of the lending industry, not the consumer. That situation allows them to manipulate their processes and procedures to push you into a position where they can take funds from you or ultimately take your home, often within the terms and conditions of the loan. Some do go beyond the terms or even break the law and aren’t stopped because the borrower does not actually understand the agreement they signed or the laws and regulations.

 

The path toward losing your home to this [problem] is actually quite simple.

 

1. The first phase is designed to fabricate the default, and typically begins with one, or a combination of ways to arm the servicer’s records with false data:

 

2.When the servicer decides to manipulate the date the payment is received in order to artificially create a late payment.

 

3.When the servicer applies part of the payment to something other than principal and interest and creates a partial late payment or deficiency.

 

4.When the servicer decides to “force place” an insurance policy on the property by claiming thehomeowner has not provided proof of insurance.

When the servicer pays your property taxes late, then adds their late penalty to your account without your knowledge.

 

Any or all of those processes result in at least one month of the account being past due and a negative note is made in the credit report (which effectively prevents the borrower from refinancing). It also helps the Private Mortgage Insurance carrier keep the policy in effect on the loan, which is why these insurance companies have investments in servicing companies in the first place – a late payment or two allows the lender to keep the insurance in force.

 

If the borrower has anything more than about 10-15% equity in the property, it is to the servicer’s advantage at this point to not aggressively attempt to collect. In fact, if the borrower makes contact, the servicer will engage in delay tactics to avoid resolving the problem in time to prevent default. If the equity position is considerably less than 10%, the servicer does not have as much leverage, nor is the opportunity as great and they will typically be more aggressive in collection efforts and more willing to keep the loan in force.

In the case of force-placed insurance, it is to the servicer’s advantage to ignore the borrower and any proof of insurance as long as possible; again, to keep the borrower’s credit status in a negative light and to maintain their relationship with the insurer they contract with. These policies are extremely profitable because they provide absolutely no coverage for the homeowner. They protect ONLY the value of the loan, including interest if the property is destroyed.

 

If the servicer has analyzed the opportunity and marked the property for default and recovery, the next payment received will be rejected as being insufficient. If it is accepted, the application of the funds leaves the loan sixty days past due. Typically, the [problem] now moves toward formal legal notice of acceleration in order to coerce the borrower into signing a highly-profitable forbearance agreement to somehow “save the home.” The servicer rolls thousands of dollars in penalties and an incomprehensible combination of legitimate and illegitimate fees into the agreement and the homeowner is left with no choice but to sign it or lose their home. The amount demanded will be calculated to take as much of the homeowner’s equity as possible.

If the homeowner decides to sell the property to get out of the situation and take their equity, they will find the payoff amount (which in the last month of the [problem] will take longer to get than the amount of time left before foreclosure) strips them of their equity. That combined with their artificially-damaged credit rating helps keep the victim a victim.

If the borrower cannot pay the amounts demanded in the forbearance agreement, the servicer will have one of their network of specialized attorney firms foreclose and the property will be sold, typically at a county auction or through their real-estate network.

 

If the borrower signs the agreement, they will soon be recycled through the process with yet more late payments and fees. But in the terms of the forbearance agreement, they may find they have signed away any legal protections they may have already had, including the right to sue the servicer for fraud or misrepresentation.

 

If the homeowner cannot find or afford competent legal representation to stop this fraud, they lose their equity and in most cases, their home."

 

Remember, for those that don't know many of the originators like that fella Webster at the top came from Lehmans from what I hear - I think he came from Preferred, but they are all in the same melting pot.

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Hi Spot where is John Boy webster now hes keeping a low profile, sparkle and co have no time to comment on this site now I see? Just spoke to the lads ifrom Belfast they are having a ball as usual,:-)

In fact they were watching the wee white ball over here and called down for a visit yesterday.

We were laughing at all the craic that used to be on this with Sparkie and the guy below the bed with the stuttering laptop.. got a warning again from them to say noubt on this though, :-( but had to have a wee peek today after they left lol

oh Sparkie is glowing bigger and brighter by the way, the mans a star. and your right from what I hear they will have no one to put up any sort of fight between now and next Jan. and guess whos causing the most trouble... good old Sparkie lol ..


pick up a penquin two systems for the price of one:?:

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100% Spot SPOT ON to be correct ,,, a great sum up of the sub prime [problem] yep webser brought all the tricks from Lehmans via Preferred, even the outdated computer system or systems lol as the case may be,,, :?:

Edited by pkelly
spelling

pick up a penquin two systems for the price of one:?:

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I am sorry to hear your boyfriend works for them i understand we all need to work and its a job at the end of the day just wish they were ended my husband served this country and gave his life for it i am being tortured by this company and the judge took thier side last time i was in court making us pay what we could not afford just to try and keep a roof over our heads, the pile charges on top of charges and i have been told by the fsa they can do nothing as my loan is unregulated is there any law to stop these gangsters I am tired of life and the way we treat each other over money. pleading for help from anyone.. oh bbc rip off britain where doing something on them and spent the day with me in court filming what went on. can we all start doing something together not just about swift but about all them that are ripping us off. i am thinking of going to the offices and protesting in my husbands suit. he died for this country and this lot is killing me

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I am sorry to hear your boyfriend works for them i understand we all need to work and its a job at the end of the day just wish they were ended my husband served this country and gave his life for it i am being tortured by this company and the judge took thier side last time i was in court making us pay what we could not afford just to try and keep a roof over our heads, the pile charges on top of charges and i have been told by the fsa they can do nothing as my loan is unregulated is there any law to stop these gangsters I am tired of life and the way we treat each other over money. pleading for help from anyone.. oh bbc rip off britain where doing something on them and spent the day with me in court filming what went on. can we all start doing something together not just about swift but about all them that are ripping us off. i am thinking of going to the offices and protesting in my husbands suit. he died for this country and this lot is killing me

 

Hi Jesushelpme1479

 

I haven't read the whole thread, but I've read yours - your situation has touched me more than most that I have seen recently on the thread.....

 

I have no immediate family members that served this country, but I do have a lot of respect for those that have and did and do.

 

Whilst the FSA may not be able to assist you, have you considered the help of the applicable Law?

 

I gather that if Acenden are administering your loan, then whomsoever your lender is, then your loan will have been securitised - you may be aware that securitised mortgages all follow a similar pattern in their acquisition and then the disposal....from the 'originator' to the 'spv', then on to 'accenden'....

 

The judge can only work with information as put before him - did you represent yourself in the case?

 

Applecart


[COLOR="red"][B][CENTER]"Errors do not cease to be errors simply because they’re ratified into law.” [/CENTER][/B][/COLOR][B][CENTER] E.A. Bucchianeri[/CENTER][/B]

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Hi everyone. I am in shock at what I am reading about Swift. My gran has very similar trouble with an original loan of £40,000, fell into £5,000 arrears, paid back £47,000 so far, and now being told there is still £39,000 to pay. WHAT !!!!! I can't believe this can happen in Britain in 2012. Reading the threads, it seems that Swift are getting away with it through many technicalities, while many of our countrymen suffer immense hardship at their hands.

I am thinking of taking a leaf out of the Americans books by try to get as many people together to collectively take a class action against Swift. This may be the only way for the ordinary man and woman to afford to go all the way to the European Courts if necessary, while putting Swift through a very costly procedure.

At the very least, there should be many many many cases where they have broken the rules or worse, that will be uncovered.

I'm hoping to get as many people as possible to come together. So if you are interested in fighting back against this evil company/sharks, let's see what we can do.

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The very first thing to do is open a shopping list starting with a Data Protection Act Subject Access Request.

 

Then you need to ask for a copy of your Actuarial Account Summary Sheet and I would advise asking for the A3 version as you will not be able to read the one they send.

 

Once you have that and all your statements, and any documents relating to the loan whatsoever then come back here and tell us what you've got.

 

There is a lot going on which you will not be seeing on here as Swift watch everything that goes on here. It's going on believe me and you are far from being alone in this.

 

One step at a time, get the SAR rolling and then we'll talk more.

 

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Many thanks. I will get what you suggested above. One question, obviously with Swift watching this as you indicated, they will know where it's heading when the information is requested. Is there anything punitive I should expect from them?

Edited by Angel-Stingray

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Not for the time being, just get what you can so you have most of the relevant information you are entitled to. If your gran was a super whizz record keeper she would have most of it, but there are a few things which you'll require such as the history notes of the whole account. Swift have got wise to our lines of thoughts long ago so it's a bit late I'm afraid to spring any surprises on them, but we know how to handle that now - we didn't before, but we do now.

 

Good luck


Cabot and the Cabot Fan Club Threads:

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/73598-dealing-cabot-101-cabot.html

 

Legal Actions Explained for Businesses:

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20492-legal-actions-explained-company.html

 

Payplan CCCS Advice:

http://consumeractiongroup.co.uk/forum/getting-out-debt/128587-info-cccs-payplan-experiences.html?highlight=Payplan

 

How to use the Forum

http://www.consumeractiongroup.co.uk/forum/welcome-consumer-forums/107001-how-do-i-dummies.html

 

A click on the scales below is appreciated if my posts were helpful

Do not regard my postings or suggestions as professional advice. If in doubt seek a professional opinion.

 

PLEASE DONATE IF SUCCESSFUL - Every little helps :)

 

PLEASE, Do not Private Message me with basic questions, start your own thread and PM a link if you wish, but I will not be able to respond to all individual questions as I am very busy on numerous other things and anyway, others cannot learn from PM's. It also stifles contributions from the vast talent base this site offers from it's contributors and I'm not all that clever really! :D Thank you.

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hi. wonder if anyone can help me. I recieved a letter from swift to say i was entitled to refund of charges and fees on a mortgage that was paid off over 3 years ago. i had so much problem with them that it took paying 75,000 to them to get rid of them.Has anyone else has this type of letter and has anyone actual got money from them. i sold my flat at a knock down price to get away from swift and still trying to get back on my feet because of them even over 3 years later.

Look forward to hearing from you

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oh and must say the letter came out the blue as i had not asked for my charges to be refunded. had just been happy to be not dealing with swift anymore. They even tracked me doen to my new address.

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Was this Swift 1st or Swift Advances plc 2nd charge loan?

 

can you tell us what the letter said? Be interesting to know what this is and how they determined exactly what they were paying you back for. The devils in the detail with this shower, probably not what you should get and worthy of checking out exactly what it is they have done this for.


Cabot and the Cabot Fan Club Threads:

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/73598-dealing-cabot-101-cabot.html

 

Legal Actions Explained for Businesses:

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20492-legal-actions-explained-company.html

 

Payplan CCCS Advice:

http://consumeractiongroup.co.uk/forum/getting-out-debt/128587-info-cccs-payplan-experiences.html?highlight=Payplan

 

How to use the Forum

http://www.consumeractiongroup.co.uk/forum/welcome-consumer-forums/107001-how-do-i-dummies.html

 

A click on the scales below is appreciated if my posts were helpful

Do not regard my postings or suggestions as professional advice. If in doubt seek a professional opinion.

 

PLEASE DONATE IF SUCCESSFUL - Every little helps :)

 

PLEASE, Do not Private Message me with basic questions, start your own thread and PM a link if you wish, but I will not be able to respond to all individual questions as I am very busy on numerous other things and anyway, others cannot learn from PM's. It also stifles contributions from the vast talent base this site offers from it's contributors and I'm not all that clever really! :D Thank you.

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It was with swift first. I had to sign and return and they would post my cheque to me within 14 days of receiving my signed form. You can see a copy of the letter they are sending out on a link from there website. Go into the existing borrower and there is a bit about it and you can link to what is in the letter. I have sent the form back but have the feeling it's too good to be true...how often do you get told you are entitled to money when you have not asked about it. I have a really bad time with them and the charges and fees that I had with them I dread to think what the total is. As I don't have the paper work for the mortgage anymore I would not of known that I could of got a refund without them writing to me. For all these years I thought I was the only stupid person to ran into problems with swift...wish I had seen all the posts on this site back then

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This is no doubt as a result of their FSA fine then. They have been reprimanded and have to abide by new rules or they will lose their licence. You can get your details they hold by sending a Subject Access request under the Data Protection Act which should supply you with most of what you need. If sent that needs to go with a £10 fee.

 

Be interesting to know what efforts they went to to find out your new address though. Usually these companies just wait until customers ask for the refund, seems like they are being forced to find people.

 

I wonder how hard they'll try and locate all those people they repossessed once all this muck hits the fan about what they are doing and they have to compensate them?


Cabot and the Cabot Fan Club Threads:

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/73598-dealing-cabot-101-cabot.html

 

Legal Actions Explained for Businesses:

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20492-legal-actions-explained-company.html

 

Payplan CCCS Advice:

http://consumeractiongroup.co.uk/forum/getting-out-debt/128587-info-cccs-payplan-experiences.html?highlight=Payplan

 

How to use the Forum

http://www.consumeractiongroup.co.uk/forum/welcome-consumer-forums/107001-how-do-i-dummies.html

 

A click on the scales below is appreciated if my posts were helpful

Do not regard my postings or suggestions as professional advice. If in doubt seek a professional opinion.

 

PLEASE DONATE IF SUCCESSFUL - Every little helps :)

 

PLEASE, Do not Private Message me with basic questions, start your own thread and PM a link if you wish, but I will not be able to respond to all individual questions as I am very busy on numerous other things and anyway, others cannot learn from PM's. It also stifles contributions from the vast talent base this site offers from it's contributors and I'm not all that clever really! :D Thank you.

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Hi, thanks for the reply. The subject access request you mentioned could you explained that to me. As I have signed and the returned the form could I then challenge the amount they send or have I by signing the form basically agreed that the amount is all I am due. Wish I had come on to this site before sending the form back but was so taken back by recieving the letter did not think there could be more to it.

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