SwiftSterling - what next please?

[ste6655]

Ok. Over the past couple of weeks i`ve been taking out loans with this "company" upto the max £410 that they offered me in the first place.

My last £110 loan was last Tuesday which had to be paid on the Thursday but still with an interest charge of £30.

So in total i had £410 to pay last Thursday (taken over 2 weeks) resulting in interest of around £130 or thereabouts.

I defaulted on Thursday and received approx 20 phonecalls and messages throughout the day.

I emailed the company and said i had spoken to the authorities and was considering the phonecalls and amount of them as harassment and would take action if they didn`t stop and would only communicate through letter / email.

I looked at my account and they have added 4 seperate £59 fees for the loan although i just thought i was topping up the one loan.

I`m just getting the standard `we will only talk by phone` when i email them - i have said i believe this goes against OFT regulations and haven`t heard anything since Saturday. Any help what to do next please?

[renegadeimp]

Ignore the fees. Theyre not legally enforceable and they know it. They rely on you not knowign your rights so you dont question these charges. Also keep communicating in writing. Even if they refuse to reply. If you or they take it to court for any reason, you will have plenty of proof of what they are doing.

 

In regards of what to do next, wait for them to make the next move. Don't step foot in front of them as they could take advantage of it.

[ste6655]

Thanks. Should i keep sending e-mails then about a payment plan?

If yes how often?

[renegadeimp]

Send it twice a week. Make sure you make a token payment just in case it goes to court. The token payment should be £1 a week/month and under law, shows your willingness to repay the debt, and you arent just sending them wild emails/letters as a stalling tactic.

[ste6655]

Cheers , how should i send the payment?

[ste6655]

P.S I can afford to pay more so should i pay what i can (obviously when you have told me how to pay )

[renegadeimp]

Try by standing order or prepaid credit card. You could also tell them you want to set up a Direct debit, but you will need them to send you a form. Then you can simply take their bank details from the form, rip the form up and create a standing order yourself