Swift Advances Saga

[SwiftVictim]

Hi Guys,

Hopefully someone can give advice on the dreaded company of all time Swift Advances and whatever other name they go by.

 

here in brief

 

1. dec 2006 got loan £25k plus brokers fee total £26,145

 

2. at that time i was in an IVA

 

3. after years of paying we wanted to pay it off and found the balance had not moved much despite paying £312 per month for 5 years

 

4. filed numerous complaints with FOB from about 2011 onwards and due to depression had given up

 

5. 2017 finally found a company that said they could help and they had a good working relationship, they go by a Debt Strategist company

 

6. Stopped paying swift November 2017, to date we have paid them £40,000 and they wanted £20,000 for a final settlement

 

7. around october 2019 swift go for and granted possession order of our home as they adding on and adding on charges, now £29,000

 

8. November 2019 i pull the plug on the Debt company as thyn now admit i will have to pay back the £29,000,

i now start to make payment s to swift of £512 to avoid repossession.

 

9. January 2020 i file a complaint with FOB for the debt management company as they have made me near £10k worse off

 

10. I file a complaint to with FOB of how Swift can now tag on near £10k in a short span

 

i have already had a barrister look over my agreement and there is nothing they can do.

 

after scrolling forums and the internet the only thing i can find is "meeting criteria for attaching a second charge on the house"

does anyone know what criteria is to be met,

i read once that they can attach a second charge if there was not enough equity to satisfy the loan??

 

can i get any of the charges back that they have added on in the last 2 years?

 

Do i sue the debt company for everything and just pay swift the £29k?

my feeling on the debt company is they have a duty of care to make sure things do not get worse and if this case was out of their remit they should not have taken it on,

and even at that they told me i would not have to pay these charges until a few weeks before i pulled the plug on them.

 

Is there anyone out there have dealt with them and actually won as they seem to be able to rob you in the street and walk away

 

    

[dx100uk]

I've moved your topic to the swift forum...

yes you are not alone!!

 

1st port of call is too get an SAR off to them.

 

have a read of a few threads here

you'll soon get the idea

 

dx

 

[SwiftVictim]

Thats great many thanks

 

SAR'd them a long time ago,

Debt Strategist company did that,

i have nearly settled myself to the fact that they are above the law and there is nothing i can do.

 

At the minute i am looking to buy out,

they have settlement figure of £29k but what they have done is charged a lot of missed payments @£70 a go and then solicitors fees i think total charges is near £4k.

 

but do i bite the bullet and buy out now, and then seek to sue the Debt company for making my situation worse

 

I have filed a complaint with FOB for the charges and they have knocked me back on it because swift had a possession order,

they say its been to court and the judge said i owed the money,

but i have appealed that saying yes it was at court but they never disputed the amount or anything all my solicitor did was adjourn the case until the Debt Strategist came up with an acceptable offer. 

[dx100uk]

sar is free now

i's be sending a new one.

 

penalty fees are reclaimable..letter/arrears/dd fail/etc etc ...any fixed sum 

as is any additional interest they have caused at their rate or 8% stat if greater

 

solicitors fees directly related court claims are not

 

FOB?? you mean FOS??

I would not be settling no.

you also need to be mindful they can't add the fees to any court claim.

 

 

 

[SwiftVictim]

Ok, Thanks for that,

i will scan the statement,

as what they have also done when i stopped paying they have just added the amount i paid every month onto the balance, surely it should be the interest each month.

Sorry FOS not FOB

 

since i started to pay them back before Christmas the balance was around the £29k mark,

i have now made 6 payments of £530 and still my settlement figure is £29k

they have just made another £3k disappear,

i want to avoid paying more and more and more,

 

for instance if i try to claim back the £3k charges made is it going to drag out and me still paying £530 per month and it disappear, thats why i was saying i just bite the bullet and clear it and sue the Debt company that made my horrible situation worse to the tune of £12, £10k added on by swift and £2k i had to pay the Debt company up front.

 

do you think there is any course of reviewing the second charge on the house,

to see if they met all criteria,

as if i can have the charge removed that puts me in a better negotiating position.

 

my worst problem is i have around £140k equity in my house so swift are rubbing their hands.

 

I will scan this and upload many thanks for your help so far

[dx100uk]

properly workout what unlawful fees and the interest they've caused and are added to the settlement sum

to date I doubt you've done that properly.

use our spreadsheets.

then pay them off minus that figure

they'll never so court solely for disputed unlawful charges.

 

don't just settle for the full asking

, as soon as you do, they'll stick their finger up at you.

as it stands you have the upperhand.

if you pay, you'll lose that advantage.

 

 

[SwiftVictim]

Many Thanks,

I will give that a go, but they seem to be able to operate above the law and fairness

 

hopefully these scans show up, as i say they have just added on my monthly payment and not the interest only.

 

2017-20_statements.pdf

[dx100uk]

just type no need to hit quote

i know what i typed

 

PDF's merged to one file.

 

you are being had blind £70PCm arrears fees unlawful.

 

now have you every statement from 2006?
and what is your int rate?

[SwiftVictim]

Dont I know it Buddy, 

yes i have all statements but this is first time we stopped paying, i think there was a few missed payments a number of years ago.

initial rate was 12.24% but i believe it to be up till 13%

[dx100uk]

 

 

wack every fixed sum pentaly charge in either the FOSCI or the statint sheet on the date it was made

for the FOSCI use their int rate in cell D15.

[SwiftVictim]

Great!

I am on it now, 

 

it will be something of a victory towards these vultures, although i do have to blame myself for not doing my due diligence.

 

but i had some equity in my home at the time of the loan and they probably was hoping for me to miss payments so they can ramp up the anti.

 

if i get say £3k knocked of the bill that will bring it to £26k final settlement and i have paid back £43k so thats a return of £69k for borrowing £25K

 

and they still have a license to operate.

 

Any thoughts on the Debt company that tried to justify their bill at my expense??  

[dx100uk]

all DMP companies are fleecers.did you pay them anything?

 

 

I thin k you'll find your reclaim will be a lot more than £3k!!