Swift advances , i stopped repo, but now need help with BK hearing

[caro]

I believe there may be issues over hidden commissions to brokers too.

[John 1963]

"you certainly have grounds for complaint against swift, going back to the OFT findings from june2011"

 

yes but he took out the loan in 2008 before they got taken to court, they have been very careful how they operate since that judgement was passed.

 

 

"to charge £250 as a default fee and £64plus as monthly management charges are totally untenable."

 

The FOS don't think so

 

 

"you really need urgently a solicitor before your next hearing"

 

if you find one to represent you post up their details as there are 100's in the same boat and no body has found one yet

[theoldrouge]

the oft findings were released from ac histories in June 2011, so as regards the charges, the OFT findings are very relevent

 

http://webarchive.nationalarchives.gov.uk/20140402142426/http://www.oft.gov.uk/news-and-updates/press/2011/73-11

[theoldrouge]

note the paragraphs as regards charges

 

http://webarchive.nationalarchives.gov.uk/20140402142426/http://www.oft.gov.uk/shared_oft/press_release_attachments/swift-advances.pdf

[april dew]

thank you very much for your help

 

I will try and find a solicitor.

 

did you see the attachment I posted a few posts up, the response I got from swift concerning the charges.

I am still waiting to hear from the fos.

[theoldrouge]

thank you very much for your help

 

I will try and find a solicitor.

 

did you see the attachment I posted a few posts up, the response I got from swift concerning the charges.

I am still waiting to hear from the fos.

Yes £12.5k would help to reduce your liabilities and interest considerably. hence the urgency

[april dew]

only thing though, because I supposed to be in bankruptcy the trustees will get hold of it.

[april dew]

hello

do you think its too late to set a side the bankruptcy, because swift was one of the creditors on the list

and there charges are been disputed so whatever they claimed I owe them is not right, and because I could not defend myself until I received the SARs.

[april dew]

help please

I have an appointment with the trustees tomorrow I don't want to go but I was threatened with contempt of court

 

is there ay advice anyone can give

 

they want to know all about my assets and bank accounts, and who lives with me.

 

is there no way I can get out of seeing them.

do you think they would postpone me seeing the trustees till after the next hearing.

 

can I reason with them and let them know all this will cause me and my family harm.

 

I am serious all hell will break loose if my partner finds out, he may end up having a stroke, he is a sick man

 

they are already taking me to court for non compliance.

 

at he moment I am trying to do a claim against them. for not supplying proof of debt.

 

as I said in my previous post swift is one of my creditors and everything is not kosha with them at the moment.

[citizenB]

https://www.nationaldebtline.org/

 

Have you spoken with National Debtline - they have a free helpline that is open until 9pm.

[april dew]

no I haven't

[stu007]

Hi

 

Please be aware that the Trustee of your Bankruptcy has been appointed by the Court and that all creditors listed in your Bankruptcy you should actually no longer be dealing with as this must go through the Trustee in your Bankruptcy.

 

If the Trustee has asked you to attend an interview to assess your assets I would advise keeping the appointment please bear in mind the Trustee can go back to the court and ask for further sanctions to be imposed.

 

If the creditor you are wanting to claim against is listed in your Bankruptcy I am afraid you would have to go through the Trustee.

 

If there is a genuine medical reason you can not attend you would have to provide evidence to the Trustee.

 

So please think carefully about not attending.

[stu007]

Please also have a read of this link "Declaring bankruptcy or being made bankrupt": https://www.gov.uk/bankruptcy

 

Bankruptcy guidance for potential or current bankrupts: https://www.gov.uk/government/publications/bankruptcy

 

Bankruptcy what happens when you are interviewed by the official receiver?: https://www.gov.uk/government/publications/what-happens-when-you-are-interviewed-by-the-official-receiver

 

Bankruptcy when and how it ends: https://www.gov.uk/government/publications/when-will-my-bankruptcy-end

 

Bankruptcy how it affects your home: https://www.gov.uk/government/publications/bankruptcy-your-home

 

Bankruptcy how it affects your bank account: https://www.gov.uk/government/publications/bankruptcy-what-will-happen-to-my-bank-account

 

Bankruptcy how it affects your pension: https://www.gov.uk/government/publications/bankruptcy-pension

 

Insolvency what will happen to my motor vehicle?: https://www.gov.uk/government/publications/insolvency-what-will-happen-to-my-motor-vehicle

 

Bankruptcy restrictions orders: https://www.gov.uk/government/publications/bankruptcy-restrictions-orders

 

Bankruptcy apply to have a bankruptcy order cancelled: https://www.gov.uk/government/publications/cancel-bankruptcy-order

[april dew]

hello

I kept the appoint today but it was not the trustees they were the insolvency practitioner.

I conditionally accepted their offer to complete the booklet they gave me divulging my assets upon proof of claim of debt.

after I conditionally accepted their offers upon proof of debt.

she said I will not be discharged from bankruptcy unil they get the info they need.

I then left.

 

so on to my next move.

I need to do a claim against their complaint my next court date is the 26th of October that's to do with the valuation of my house and them seekin to sell.

[determindator]

 

 

 

Was the PPI repaid directly to yourself?

 

 

 

How did you get a refund for the PPI? they usually say a broker sold it so it wasn't their (Swift's) fault then you're stumped because the broker has done a runner (ceased to trade)

 

Did you get your history notes with your SAR? If you ring them i'm sure they'll send them out.

 

Swift add a mega amount of interest at the beginning of the loan i'm lead to believe, not shown on statements or records customers see, I understand. They expect you to pay over the whole term and if you do redeem early, you pay what you borrowed plus the interest added at the inset, and then interest on that, as I see it. Nobody seems to have been advised these loans are not for short term lending. IMO these loans should not exist. If you borrow money against your home, the interest should be low as the lender has security. This lot not only charge higher int rates but they will never reduce, from what we've all seen, they will increase. The loan becomes untenable and they foreclose.

 

Borrowers have offered large pymnts to exit the loan and I haven't heard of one being accepted yet.

 

I believe the letters they send out which give the impression they want to help, are a smoke screen for the benefit of the regulators keeping an eye on them, not that they can do anything.....yet. They get slaps on the wrists and fines but they don't flinch. The OFT closed on 1st April 2014 with it's responsibilities passing to a number of different organisations.

[april dew]

I had a ppi company fighting for me and the ombudsman.

 

what do you mean by history notes, do you mean payment history, if so idid receive them.

 

as for the charges I don't understand them.

 

I also received another letter from swift yesterday, saying they were sorry(sorry my foot) to hear about my complaint about their charges and they were looking into it.

the financial ombudsman must have got on to them.

[stu007]

We need to be careful with advice here and remember that if the creditor is listed in the Bankruptcy then the Bankrupt should no longer be dealing with these creditors as its now the responsibility of the Trustee/Insolvency Practitioner appointed by the Court.

 

If swift is listed in your Bankruptcy then you should be going through the Insolvency Practitioner and also directing swift to the Insolvency Practitioner to deal with.

 

Are you on about challenging the Insolvency Practitioner stating they would holding you in Contempt of Court if you failed to attend your appointment or something else?

 

Please Please have a good read through the links I posted

[determindator]

Do you have a copy letter the Ombudsman sent to Swift which forced their hand to refund, you can upload on here.

 

History notes are a record of letters and conversations you have had with Swift, and their comments.

 

The 'sorry' letter is a standard reply.

 

If you are getting positive help from the FOS with Swift, we would like to know more about this.

[caro]

Are swift listed in the bankruptcy?

[april dew]

swift is listed as one of the creditors.

 

I am challenging the insolvency services and every one else involved.

the have to prove to me that the debt is fair and true.

 

I have not yet gave any information to the insolvency services or signed anything

that's what they wanted me to do the other day when I had the appointment with them.

I conditionally accepted to give the info they need upon proof of claim.

 

as for the history notes I did give my third party a lot of my documents to do with swift when he was helping me back then.

at the moment he is away at university studying law.

 

I might have letters from the ombudsman and the company that helped me with the ppi, I will try and find them.

 

fos as not actually contacted me back yet about the charges, I am sure its been 3 weeks.

[caro]

Be warned that 3 weeks in fos time is nothing at all. A year or more is normal.

[meellis]

I haven't posted much but I have been reading with interest.

 

We need to put a stop to any misunderstandings or false information or beliefs before it gets to far.

 

Basic fact is that the bankruptcy only covers un-secured debt not secured

so you really need to understand who will be creditors on any Bankruptcy.

 

First charge mortgage and second charge secured loans will not be part of B/R

so Swift being a secured loan cannot be creditors and if it was them that made you B/R then something needs looking at.

 

As somebody as posted any debts within your B/R need to be dealt with by the insolvency practitioners

and it is important that you do what they ask but also fully understand the position you are in so they can't take liberty's.

 

The B/R will only be interested in equity within your home so they will only force a sale if financially viable.

Swift come into that scenario due to the fact that security is placed on your home

 

so if the home is sold then the B/R has to pay off the mortgage and the secured loans before anything else,

hence why the secured loans aren't included in B/R.

 

Because Swift are secured it is important that you do talk to them

and keep paying as with any other mortgage so you don't accrue charges and lose due to false info.

[april dew]

it was every day loans (personal loan) that made me bankrupt, they said I owe the £2.500 +.

[meellis]

Same old story

cannot see why it was worth making you bankrupt because they aren't going to get anything.

 

Did you owe as much as they said at everyday.

 

To be able to annul the B/R you would have to be able to pay off all the un secured creditors

and admin costs at the insolvency practitioners which would be a job.

 

If I am understanding your posts correctly there is no equity in your property so I doubt if the B/R will force a sale

you really need to fight on these things which starts with really understanding what needs to be done.

 

If you keep the arrangement you had with Swift they have no reason to repossess,

they could only do it if you break the arrangement and don't pay.

 

None of what you owe them will be included in the B/R except for the Insolvency practitioners to calculate affordability and equity within the property.

 

The B/R should not make you homeless unless it was financially worthwhile or you ignore it all and they just go through the motions

 

make sure you supply anything they want as promptly as they want so you can get things sorted as quickly as possible.

 

In a strange way swift are helping you keep the house because the more you owe them against the house the less equity there is there,

horrible thought isn't it.

 

The insolvency service isn't the enemy they are just trying to sort out your financial affairs up to B/R

so you can start a new life after but you have to keep on top of these things and not just roll over.

 

Swift issues are completely separate to the B/R so even if they are the reason you have ended up in this position

because of them view it as a different issue and start researching into whether you were actually mis-sold the loan.

 

If it was only the everyday loan that was in the B/R then you could look into whether that was all above board

but it is only worth spending the time if you can get a worthwhile result.

 

If you spent the time on everyday and managed to get compensation you might end up just giving it to the B/R and still be B/R.

 

If you wonder about me,

I am a swift victim too and B/R so I am posting from experience but not professional standing so check up on the things I say

and don't just think that what has happened with me will happen with you.

[determindator]

The CAB will be a good place to start with a mis-sold claim.