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borolad63

swift advances and FSA and others

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I am so sad to read how you are feeling about this but please don't give up.... Swift have made my life a misery too and continue to do so. So many people have gone to the OFT and the FSA individually but are not getting the help, support or justice they need. This is criminal when you conside that the FSA has pocketed a fine of over 600,000 from them for their misconduct. We have to all do this together and take class action. That way, we can get the legal help we need and if necessary take the company to the European courts.

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Have set up a facebook page- justicewithswift

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I sent for my Accurial Account too. Rang u and they sent it within 3 days. Maybe they're starting to panic!! Also look at your interest whether it's compounded or simple (Look in the column marked simple) The law on this changed in 2008 and only simple interest could be charged. Try & find an accountatnt who will go through it for you with a fine toothcomb.

 

Pam

 

Thanks for that info Pam. I spoke to a litigation manager at swift yesterday who said that the 'problem' with my account was in fact the compound interest. So that is very helpful and I will follow up.

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hi everyone

 

I am in a similar boat, I took out a loan in 2007 with swift for £10,000 now ten years later and £17,000 later they are still demanding I pay £24,000 or hand over my home. I am a singe parent with 5 children.

 

I am now considering taking them to court to fight this all the way.

 

I want to know if anyone has ever took swift on and won a case on misconduct or otherwise.

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hi everyone

 

I am in a similar boat, I took out a loan in 2007 with swift for £10,000 now ten years later and £17,000 later they are still demanding I pay £24,000 or hand over my home. I am a singe parent with 5 children.

 

I am now considering taking them to court to fight this all the way.

 

I want to know if anyone has ever took swift on and won a case on misconduct or otherwise.

 

What is it you feel is the issue? Many people have taken Swift to court and they will fight every case fully unless they are 100% in the wrong and even then they will stretch you.

 

Get yourself some proper legal advice before going anywhere near a court with them. Within the terms of your loan you will find that they can add the costs of their defending claims to your loan. Any action you take against them will be met by them taking advice from expensive barristers and adding that cost to your loan which in turn attracts contractual interest.

 

There are many many people who have had a considerable amount of costs added to what is already an expensive loan, so be very careful.

 

There are many groups of people stripping Swift and their practices apart and Swift are a well oiled machine in getting all their legal costs paid for whilst their customers struggle to meet their payments - if you take them on - you are likely to lose your home, be warned and be very careful because they are without moral compass.

 

I would suggest you google Swift Advances and follow links to a number of forums, including this one who have been fighting for a long time to get justice, but it is very slow and Swift are as slippery as a can of worms. I speak from experience and if you have no experience in court you will lose, even if you are right as the courts and barristers can twist things better than Chubby Checker and Swift know how to work the system.

 

Whatever you do, avoid missing payments or ensure you have some kind of payment plan set up to not give them any opportunity to kick off litigation.

 

I would apply, if you do not have every document, for a Data Subject Access Request to get a record of all your initial application documents from them and records, statements etc. Get copies of your brokers documents.

 

Start a new thread for yourself on Cag and put a link to it here so people can follow what you do and try to assist, but please do not go off on your own against these people because I guarantee you will lose more than just a court case.

 

People have gone deeply into Swift and lost many thousands of pounds in legal costs and still lost their homes. If you have equity, they'll have it, not your children so be very careful.

 

I personally cannot get involved in helping on here much, I've had my day and can't get involved again, all I can do is warn you to be extremely careful and I know an awful lot of Swift Account holders who have come to the forums to get help, far more than most.

 

Read as much as you can about them before going anywhere near them with legal threats. It bounces off them like water on a ducks back and they'll just look at your equity and lick their lips with joy.

 

I wish you luck, but try and get out of their grips by some kind of refinancing and if the appetite allows, come back at them from the outside once they no longer hold a grip over you.

 

They are asset lenders of the worst possible kind.


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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Thanks Termi..good to hear from you again...


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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