Jump to content

  • Tweets

  • Posts

    • I'm on happy pills (anti depressants) but they aren't cutting the mustard anymore and I do need to see my GP soon to see if he can help in anyway. With regards to gambling it's so complicated; through my life I have made money (as well as having had some jobs)  being a "professional gambler" (gambling where the odds are in your favour - think card counting for example, fruit machines years ago for a long time.... Other things.) But I've also been totally compulsive at the same time. It;'s so entrenched in my psyche that it's hard to imagine just giving it up totally. I also have drug issues that have plagued me and it's a shame because I am fairly intelligent and could have been successful in life in theory but mainly due to those two things (and not really having any drive, ambition, whatever... I could go on and on but this isn't a therapy forum :P) I've not managed to. I'm 36 by the way. Cheers
    • Oh I just remembered I have a long defaulted account with Halifax balance approx £3700 I believe (from around 2015) but they aren't chasing me for it or anything. It was actually over £5000 but they refunded me a load of unfair charges (their words)  This does however push me over the £20,000 limit for a DRO I think?  
    • Hi.   I think you've made a good start by setting out in writing what you need to deal with. People should be along later to advise on how to deal with your creditors.   For the mental side of things, have you talked to your GP about getting some help with what's getting you down? Or support with the gambling issues?   HB
    • Hi people.   So I've managed to get myself into a sorry state financially. I'm insanely depressed which I guess is common for many. I don't think all of it comes down to the financial stuff but it is really crushing me now.   Facts: A lot of debt has been due to living on credit and gambling. I don't have a job. I know I should get one but I just totally despondant at the moment (due to many reasons). I don't expect any sympathy but I thought I would share this.   It's tempting to bury my head in the sand and wait for the inevitable calls from various collections departments but I want to be as proactive as possible. I think I've cancelled all direct debits so I don't get bouncing charges from the banks...   So onto the debts:   Loans livelend; £2400 was 4k 13% interest Bamboo £3000 (only just made the first payment this month) supid interest Likelyloans approx £3500 stupid interest  One payday loan for £200 I just got to cover some bills (knowing that I'd unlikely be able to pay it) - this is the only thing I haven't cancelled with the bank as they just take it from your card   Credit cards: Aqua approx. 3900 Capital one approx. 1200 Amazon approx £500 Paypal Credit Approx £1100 Overdrafts Santander £1500 Barclays £1k limit (I don't actually pay anything for this)   So all in all approximately £18,000     I also have a negative Paypal balance of £5000 but I don't believe this classes as a debt and I don't think they can do anything about this having read up on it quite a lot.   I guess my question is what is my best course of action. Should I look to do a DRO? Should I go bankrupt? (eurgh. Full disclosure I did this 15 years ago when I was 21. You think I would have learnt!) Should I write to each creditor and offer them £1 a month? Should I talk to one of the debt charities?   It is all my fault that I'm in this state but I also know that it's not the end of the world because they are all non priority debts. I probably am slightly behind on the council tax but not significantly.   I started claiming universal credit a couple of weeks ago and had my first appointment last week but managed to miss the next one due to not being able to sleep and then oversleeping and so I guess they've probably kicked me off that already and I might have to claim again.    So yeah. I take responsibility for what's happened but I don't see any way out. I've been very depressed lately due to this and other things. There is no one to "bail me out" and I probably don't need or want that anyway. Any advice appreciated          
    • Hi All,   I left the UAE 2 years ago. Have my bank clearance letter from HSBC.  I have been receiving emails from a company based in Hemel Hampstead IDRWW about money owed to the bank of RAK in the UAE which I’ve ignored as thought it was spam. I have now received a letter through the post saying the same thing (no idea how they have got my new address) that they are acting on behalf of RAK bank. I’ve never had an account with them but know how dodgy things are over there so would be nervous going back!.... Do I just ignore it or reply? It must be identity theft?  I am also nervous about travelling as I travel a lot & wouldn’t want to be arrested!!  I obviously have no intent on paying a debt that is not mine plus have no assets here anyway... Can they actually take me to court for something that isn’t mine??  Any info gratefully received.  Have spoken to citizens advice & they couldn’t help. Thankyou   
  • Our picks


Realistically what are the chances

style="text-align:center;"> Please note that this topic has not had any new posts for the last 2653 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Last year I sold my house paid a ridiculous settlement to Swift and rid myself of any debt I had.


While this has been a great weight off our shoulders and left us with some money behind us to buy again in a couple of years, I can't get rid of that feeling of injustice.

We fell into arrears and the charges being applied were exhorbitant, to say the least.


As a secured loan ( initial mortgage with NR ) what are the chances of realistically getting anything back from this bunch of crooks.


I seriously don't know whether to just draw a line under it and move on with the rest of my life, or try and nail this mob, and to stop them doing it to others.

Share this post

Link to post
Share on other sites

Was this a Swift Advances second charge loan - roughly how much was it for? SJ

Share this post

Link to post
Share on other sites

Yes sweetjane, it was a second charge loan.

Off the top of my head, I think it was for around 9,000 over 5 years which we paid minus the arrears (which was just about 3 months ) for just about the whole 5 years. Then the settlement which was still about 8,000.

Every time we were in arrears, we always made it back up.


So without the paperwork, we roughly paid back 23,000.

It might be worse, I'll have to look out the paperwork.

Share this post

Link to post
Share on other sites

Hi DMC65


When you have the paperwork check whether PPI was part of the loan. You can certainly claim for that. You will have to make a complaint to the broker who sold that originally. If they don't respond, go to the FOS with a complaint. If the broker has gone out of business the complaint will be forwarded to the FSCS (Financial Services Compensation Scheme). If you had unfair charges added to your loan, you can go to Swift and complain - ask for anything over a monthly arrears management charge to be redressed together with the contractual interest and 8% compensation. If they do not redress - go to the FOS. We made 3 complaints to the FOS - one regarding PPI against the broker (redressed by FSCS) one regarding unfair charges (redressed by Swift) and one regarding the Insurance company which had failed to cancel the PPI policy when asked (they had to stump up the balance of PPI not covered by FSCS which covers 95% pver £2k). So ultimately DMC65 the chances are good in my opinion. We had nearly £8k redressed in all. This doesn't of course cover the excessive interest, high litigation costs and unfair final settlement calculations but it's a start!


This does all take time so you need to be patient. Some people prefer to go to court to reclaim charges but the problem with that is that if you lose (Swift engage some very expensive barristers) the costs plus compound interest get added to your loan (if it is still outstanding). I certainly wouldn't go to a claims company to get the PPI back - you'll end up giving them a big percentage.


Good luck - get those documents out. SJ

Share this post

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.

  • Have we helped you ...?

  • Create New...