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Swift Advances Excessive charges and interest

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I hope you don't mind me contacting you its regarding Swift

I'm new to this forum so please bear with me

 

I have been reading through your threads and I had a secured loan with swift back in 2004 for £5,000

I ended up paying back over £26,000

 

And nearly lost my home several times due to a heart condition and having to give up work

They were awful through all this my family had to lend me the money

I'm healthy now and in a better state of mind my loan was paid in full 3years and 6 months now

 

All that interests and charges we unlawful I think

And I want to try n claim them back but don't know what to do

Please can you advise me plz

 

As to where to start as they owe my thousands of pounds

Kind Regards

Nicky xxx

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Hi

I hope you don't mind me contacting you its regarding Swift Advances in Brentwood Essex

I'm new to this forum so please bear with me

 

I have been reading through threads and I had a secured loan with swift back in 2004 for £5,000

 

I ended up paying back over £26,000 over a 8 year period

My final payment was 3.5 years ago

 

I nearly lost my home several times due to a heart condition and having to give up work

They were awful I nearly ended up having a break down through all this

Luckily my family gave me the money

I'm healthy now and in a better state of mind my loan was paid in full 3years and 6 months ago

 

The interests and charges we unlawful I think

And I want to try n claim them back but don't know what to do

Please can you advise me plz

As to where to start as they owe my thousands of pounds

Kind Regards

Nicky xxx

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You need to find out what charges they've inflicted on you over the period and also whether you paid any PPI.

 

Do you have any paperwork? If not then you will need to send an SAR which you should do immediately.

 

Even if some of the paperwork is missing, it will be worth getting an SAR sent off


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Hi Bank Fodder

I do have some paper work and we did have PPI but they said when I came out of work due to my heart operation that my husband earned to much money and that the PPI wouldn't be paid in the instance

Do you have a template SAR please that I could amend to send to rhat horrible company

Thank you so much for replying

Nicky xx

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click sar

rad ALL the posts there


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Well if you paid PPI, and especially if you try to make a claim and they refuse to pay out, then it is probably certainly miss sold. Furthermore, I'm pretty certain that they never disclosed any commission which was paid to the person who sold it and so under the Plevin case last year, this is pretty well conclusive of mis-selling.

 

You need to start calculating what you paid out in PPI premiums.

 

You also need to calculate any charges for late payments et cetera which you paid during the time that you are paying PPI premiums. The idea is that if you had not been paying the mis-sold PPI payments, then you would have not been so much in debt and might even have avoided the late payment charges.

 

So, you should calculate your PPI premiums, plus any charges which you incurred during the time you are paying the PPI, plus the interest that those charges incurred, – and all of that together and then add 8% per year.

 

That will give you a very rough guide as to what you might be owed and therefore by how much you may be able to reduce the loan.

 

Go and check your paperwork and see if you have got the information you need to check out how much you have paid in PPI and charges et cetera and then come back here.

 

You may be surprised at how much it adds up to and it may amount to a sizeable sum which you could claim back. – And that's just for starters.

 

Also, calculate the value of all the charges which you paid, the interest you paid on them through the life of the loan.

 

Come back here


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You certainly need to calculate the PPI but it will be the responsibility of the broker if they are still around, Swift will be very quick to let you know this because it is one of their stock answers.

 

 

As for some of their charges

they have just been through a legal case where a lot of their charges were found to illegal and that was on a loan similar to yours which should be covered by CCA regulations.

 

 

Make a request for all of the information they have by SAR so you can truly see the fuller picture.

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That is very helpful to know. Any chance that you have a link to the case you are referring to


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or go after the insurers


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Thank you so much Bank Fodder and Melliss and dx100uk

I'm going to get on to it straight away

Thank you so much hopefully I might get a little something back xxx

 

Hi

Thought I would just double check 🤔

On the SAR form that I'm sending to swift do I have to put both signatures on mine and my Husbands as the loan was in both names

Thank you

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wont hurt

are you both still at the same address as the loan was?

 

 

if not

don't forget CTAX bill and list the old address


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Hi dx100uk yes we are both luckily at the same address also will I need to put any identification in or just send that SAR form

Sorry to ask all these questions I just want to make sure I'm doing all this correctly

Once I get the SAR information back about my account what do I do with it

What's the next step please

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are you at the address the loan was against still or have you both since moved from there but are together


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Hi dx100uk

yes we are both luckily at the same address

also will I need to put any identification in or just send that SAR form

 

Sorry to ask all these questions I just want to make sure I'm doing all this correctly

 

Once I get the SAR information back about my account what do I do with it please ??

 

 

As I know that there's going to be alsorts of unlawful charges and interest and other fees on there that are unlawful as well as PPI that they would pay when I became very ill

 

What's the next step please ??

 

Sorry for all the questions again

 

I really do appreciate you trying to help me

 

Nicky xx

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INC a CTAX bill copy that's all you might need as proof

 

 

as for what them

time to get reading up.

 

 

lots of mortgage reclaim threads here


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Have you got any further with this? I am waiting for my info to come back from Swift.

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Sorry for late response I have only just seen this ,

I have got a solicitor involved and he has written to them twice now and sent a SAR but they haven't responded as yet and it's been 3 months nearly

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Then you need to speak to the Information Commissioner (ICO) as they have breached the Data Protection Act. Swift have 40 days in which to supply, after that, they're in trouble.

 

Don't give Swift an inch. Once you do receive the information, I want you to come back here and tell us what you received.

Some of us have extensive Swift experience and might be able to tell you what they haven't supplied which they should.

 

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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Any updates on this case?


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 Andrew1

Sorry for late reply ,

 

My solicitor has called me today and informed me that swift have eventually sent through all my documents ,

He's absolutely flabagasted to say the least at how much I have paid them in charges ,

 

He's also informed Me that Swift have been taken to court again and the Judge has said they have to pay back all the excessive charges to all customers and also my solicitor asked if I was every bullied or felt threatened !!!

 

I said I ended up having a Nervous Breakdown because of these monster ?

 

My solicitor has got a very good case and is going to throw the book at them It's illegal and disgusting were his words

Will keep you up dated

Nicky x

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Hi Andrew1

He's also informed Me that Swift have been taken to court again and the Judge has said they have to pay back all the excessive charges to all customers

Nicky x

 

Hi Nicky, thanks very much for coming back, it's always useful to know how others progress. An awful lot of hard work over many years went into getting to the bottom of this company's dealings and thousands have suffered greatly in the same manner you have suffered so whilst your own case might just seem personal to you, the results has ramifications for thousands who have been taken to court and lost their homes.

 

The problem has been individuals are left alone to defend against them, despite people on forums such as this going through each others agreements with fine-toothed combs, in the end, it's down to the individual to confront them and with the trauma Swift instilled in families, people buckled under the strain. I know that from bitter experience, but it's not over yet and there are many strains of threads to continue following.

 

Sadly, we lost one our best at continuing the fight, Sparkie, recently - he had worked for some 10 yrs with a number of us uncovering so much relating to Swift, yet there were so many slippery operators in Swift, they used barristers on practically every case put up for challenge and charged the customer extortionate rates for the pleasure - account holders didn't stand a chance on their own.

 

You mentioned your solicitor saying that Swift lost a case recently, I don't suppose you could ask him what case that was and where it was heard could you? That could be so helpful to others.

 

Following the way solicitors unpick this is useful so letting us know (without compromising your own Litigation Privilidge of course) and I'd also mention to you that Clause M on the agreement Terms and Conditions states that Swift will charge any costs to your account when they have to pay them or when they decide to charge them AND INFORM YOU so you can pay them AT THAT TIME so as not to incur interest.....they don't and they breach their own terms. Make sure your solicitors takes that on board as it's crucial .You should be informed every time a cost is added to your capital balance and they rarely if ever do. That could result in a whole load of costs or charges coming back to you possibly.

 

If you can keep us updated it would be extremely helpful, there's a network out here picking at the bones all the time and gems like these court cases are good to hear about, otherwise we'd never know.

 

I wish you luck and anything else you need, just yell - we have a library full of stuff and only too pleased to support what you're doing in any way we can.

 

A1


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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Good Evening

 

Thank you for your reply

 

I am so shocked as to why these glorified loansharks are still allowed to trade !!

 

Them poor people whom have lost their Homes ,

I nearly did on several occasions but luckily I have a good family and a district judge whom wasn't happy with the way that they were treating me ,

 

I will talk to my solicitor at the beginning of the week and get back to you with all the information

 

Hopefully this disgusting company will finally get what's coming to them

 

I'm so grateful that I'm not under the spell and more

 

They're wicked and is soul destroying what they have done to me in the past

 

Speak very soon

Kindest Regards

Nicky xx

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Hi Nicky

 

I’m new to this site after stumbling across it after searching how to claim charges and PPI from Swift Advances.

 

My story is almost identical to yours in that I took a homeowner loan out with swift for £8000 in 2003 I think. Paid them for 3 years which comprised of missed/late payments and finally settled the loan in 2007 after splitting with my then partner and selling the house. Swift took £28000 from the sale of our house which was extremely upsetting at the time.

 

I’m just looking for some advice on where to start and if getting a solicitor involved from the start is the right thing to do and how much they charge. I have absolutely no paperwork for the loan as it was all lost in the move.

 

Any advice would be much appreciated from yourself or anyone else who reads this.

 

Many thanks

 

Ian

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