Swift advances

[beentheregottheTshirt]

Thanks Duchess,

 

One slight correction for which I must apologise:

 

The Document you need to ask Swift for is called the 'Actuarial Accrual Account Summary sheet', not the Actuarial Account Summary sheet. Sorry about that.

 

So, you have an Unregulated Loan Agreement which means at the time of execution was not regulated by the Consumer Credit Act 1976 because it was over £25k.

 

1) Were any of the previous loans (the car loan for example) secured on your property as a second charge loan?

 

if so,

2) was it a condition of Swift Advances that before you could take the 25k loan, you had to pay the other loans off so  they  would have a clear second charge on your property behind your main Mortgage Lender who held the 1st Charge?

 

3) You say you never received any money (cash) from this loan after they had paid the mortgage arrears and car loan etc., but was there even 1p ever paid to you from this overall loan? If so, how much?

 

4) Can you recall what this £4000 they say they sent you was for or where it fits into the structure of the loan?

 

You really do need to insist that they provide proof of this payment, cheque number, date issued, Bank drawn on, date it cleared through their account to show it was paid and into which account it was paid into when it cleared.

 

Keep pressing for it. Keep insisting on it.

 

5) Have Swift commenced litigation against you for possession at any time and what is the status of this account with them as we speak?

 

The reason I am asking all this is because the structure of the loan is important as are the charges applied and the interest on same. If you end up in court, the courts will invariably favour Swift and they will employ barristers, at your expense (added to your account), which compounds your problems in what you owe them.

 

What you then have to do is mitigate those costs or they'll skin you rotten. It's never easy against Swift. They are a well-oiled machine.

 

I cannot offer any miracle cure here, but somehow you may be able to mitigate costs and what you end up having to pay them. I have no legal training so do not sit back waiting for Swift to act, get proper legal advice if Swift are gunning for you.

 

I am trying to strip this down to all it's component parts so we know exactly what we are dealing with here, if that's okay with you? No false hope - okay?

 

[duchess777]

got so booted and almost finished my reply . Thanks for the response .

 

1. I am not sure if the other loan was secured on my property , I have to check .

 

2 I know i them I told them about the car loan and that they said this will have to be paid off , at the time it made sense.

 

3 I never received a penny , I received a phone call from the brokers to say that the car loan and mortgage was paid and there was no residual money , I remember this as my daughter wanted to go on a school trip and I could not afford to let her go . 

 

4  I have tried and tried to get swift to tell me about the £4Kcheque they said they know it was cashed as the bank told them so , they have no idea where it was cashed as they do not have the record , year after year I have asked them, always the same response .

 

5 they did on two occasions and never produced my written statement to the courts, on the last occasion the court asked them to tell me about the £4k cheque,  they said I have to report this to the police as fraud . is it me or do the sums not add up for their loan .

 

Also they said they took the ppi off but little difference in the repayment .

I did get legal advice and the person said something is not right .

 

BTW . can I say , I never found them they called me .

 

just remembered,  they called me after I was taken to court for repossession by a company I know linked to them ,

I researched the company .

 

I was attacked by someone  part of the job I do , suffered post traumatic stress , attack was pretty bad .

 

after the case they contacted me , I was not working then.

had pretty bad mental health breakdown at the time .

[duchess777]

Hello where has all the recent swift issues gone to cannot find them . please help

[Badtimes123]

Hi,

'recent swift'? how recent are you talking about please?

 

Have you used the forum search function?

 

BT

[honeybee13]

It could be that it just isn't a very busy forum. Is there something specific you're looking for?

 

HB

[duchess777]

Hi 

thank you for responding there were several people talking about swift issues now I cannot find anything about them wanted to see if there were recent court cases against swift  

[duchess777]

Hi I did a search and not much recent came up

2022

 

[Badtimes123]

I couldn't find anything I would consider recent either..

 

Why are you looking for them? do you need help? if so, let's hear it!

[duchess777]

I am looking to see if there are any similarities  reading my case and any good outcomes against them 

[Badtimes123]

Great, self-helping!

 

Best of luck

[duchess777]

Why are you being mean when I am being serious -not funny !!!!!

[Badtimes123]

Wait what??

 

I said it's great that you are self-helping! not many people search the forums for answers but rather open a thread and expect all answers to come to them, you're not doing that, which is called 'self-helping' and I think that's great!

 

Plus smiling faces and me wishing you the best of luck..

[unclebulgaria67]

Maybe due to Covid, there have not been very many recent Court cases involving Swift ?

 

Found details of a 2019 High Court case.

 

Swift Advances PLC and Keith Scott and Elizabeth Mary Mythen [2019] NICh 16 (14 November 2019)

WWW.BAILII.ORG

 

[duchess777]

Sorry If I misread, stressful times and just trying to get out of the mess I should have never got into .

 

had very bad depression at the time of taking the loan, never even needed the stupid loan and was not even working when they gave it to me, just angry with myself I guess .

 

Apologies again

[unclebulgaria67]

Send Swift a Data Protection Subject Access Request (SAR) asking for everything on file.

 

SAR might reveal important info

 

 

[Badtimes123]

No need to apologise, simple misunderstanding.

 

I hope you find the information you need, if you don't find what you need, then type out your story in this thread and CAG will help you

[duchess777]

Thank you sorry again

[duchess777]

Thank you Uncle .

 

I did and they sent me some paper work,

when I asked a solicitor to do the same, I saw things they never even sent me, like wages, which I was not earning

the broker who sold me the loan made this up and never told me  ,

there are other discretions too 

[unclebulgaria67]

So what is the current position with this debt ?

[duchess777]

current in arrears ,

 

paid them over +£40k

 

they want another £60k, maybe more for a loan of £32k,

 

they said that they gave me a cheque for nearly £5k  from the loan

 

I told them when they let me have the paper work eventually I never received their cheque ,

showed them bank statements from that year ,

they said I could have cashed it in a money shop ,

 

also they paid the loan I had 

all the money

it was a five year loan taken out less than a year .

refused to take off PPI as well this would bring the loan to under 25.000

 

I have worked out the loan minus the cheque and the PPI is 24,220.61 without the challenge of the full repayment of the loan as it was only taken a year or over .

 

I have written to the company however they are not responding to me about why they charged the full payment  for the loan . 

[dx100uk]

Old and new threads merged 

 

I can see if you read from post one now again you've tried 3 times to address or see if you can sort this loan issue.

 

We need to see all the paperwork you have in one mass pdf 

 

But to be honest there have been no successes anywhere for many years. The only way people are seeming to get away from them is to offer a lump sum settlement by going to a mainstream lender 

 

Is this a secured loan that shows on your deeds and have you any other lending with them?

 

Dx

[duchess777]

Hello

Yes this is the only loan and the court has asked them to give me proof of the cheque  which they have not ,

 

I am paying for money I never had from them .

 

I was told that even though they were not regulated by the FCS they have another body Swift 1st  that is part of their  company and regulates swift advances .

 

I was reading a case where the judge looked at the benefit the client had from money that they borrowed to  include in their judgment , and the PPI that was not fit for purposes it was sold for

 

 . just trying to see all the legal arguments .and how can they justify over 150000 pounds for such a small loan. 

Edited May 21, 2022 by dx100uk
Please space your posts!

[dx100uk]

Please space your posts with blank lines, and sentences , not a big block of text 

 

So you are in court now?  1st you've said of this!!

 

What have you taken them to court for?

 

Dx

[duchess777]

Hi 

sorry about the lack of spaces .

 

I am not in court now , this was sometime ago .

 

They took me to court initially about six months after I got the loan.

 

I did tell them at the time I was not working .

 

They may threaten to take me to court as I am in arrears . 

[dx100uk]

sorry if this seems unfair but:

 

you came here in 2019 asking the same question:

 

  

On 02/03/2019 at 11:30, duchess777 said:

Hello

I obtained a loan from swift in 2008 , I asked to borrow £25k to repay another loan ,

did not realise about Swift

 

when I eventually got the papers some years later they included £4k which they said they gave me in a cheque .

I informed them I have never had a cheque from them ,

 

they refuse to tell me where the cheque was cashed according to their records .

I claimed my PPI back from them

 

they said they can continue to charge me for it as I was in arrears and they did not have to take off the PPI as I was in arrears . 

 

I have paid them over £40k and they are seeking a resettlement figure of £67k.

 

can anyone help and advise please .

 

then got help and vanished.

 

you returned in 2020 again asking the same thing:

  

On 06/03/2019 at 07:44, duchess777 said:

Good Morning .

they were trying to get a refund on my mortgage , they did not want a fee.

 

and got help and vanished again.

 

then you've just returned again after 2yrs:

  

7 hours ago, duchess777 said:

Hello where has all the recent swift issues gone to cannot find them . please help

 

trying to get the full picture from you each time you return, to enable us to help your properly, is like pulling teeth. we never get it.

 

We get a bit by bit dribble each time and then findout very relevant new important info that you didnt tell us first-off when we've asked for it all that changes the whole picture.

 

as far as i can gather,

you wanted to pay off a few debts....

 

they gave you an unregulated mortgage/secured loan? (is it still showing on your deeds?)

the breakdown of this was:

 

brokers fee  £427.50

Mortgage £2,203.26

car loan  £21.977.35

loan admin fee £35.00

PPI £4105.15

tele transfer fee  £40.00

indemnity fee  £135.00

Cheque  (never received )  £4144.39

Amount of credit  £28365.00

total £32470.15

 

but you say nothing about the interest each month,so their figure today could quite be correct. the above figure does not inc interest. you don't get a loan for FREE!!

 

as to date you've not scanned up the full agreement to one mass pdf after reading our upload guide carefully.

we need to see that.

 

now going on from here upon what we also appear to know...

 

you appear to have been taken to court by Swift for repossession at some point. date please and you obviously won an got the repo suspended?

 

it appears at some point in time you appointed a mortgage reclaim company or they contacted you (as they do they scan the courts looking for people being repossessed)  - they scammed you and disappeared into thin air and this possibly involved you taking swift to court , questioning the outstanding figure at the time? if so when please