Helping my sister with her debts, we've had major problems with: Mercers (does that count? - as they're part of Barclaycard) - When my sister complained that they'd sent a nasty text - she complained because her 12 year old had read it. They said she shouldn't let her 12 year old daughter read her texts!!! We have written many times asking them to only comunicate in writing. They continue to harass by telephone & text. Refuse to accept £1 pcm (although all other creditors have) without CAB (or similar) "formal approach" although we have financial statement from CAB and Ref No. CAB have been too busy to see us - will try again next week. RMA: Phone all the time despite written requests for letters only. When they write it is to say we can't get hold of you (by phone!). We write back saying put it in writing! Eversheds: Harass by phone, post card, threaten to visit. Say they are "solicitors" - only one solicitor in department. Chasing a successfully PPI-disputed amount from Halifax loan (amount they were chasing reduced by £4k with PPI refund). They have stopped the phone-calls now but only after many many complaints to them & Halifax & (general complaint to OFT and threats to go to Solicitors' Regulations Authority and Legal Complaints Service. My sister and her partner were under so much stress with daily phonecalls from all the above and others (Blair Oliver Scott, GE Money etc etc) they were failing to get on top of priority debts. This is where so many people get bullied and pressurised into paying what they have into the non-priority debts and end up losing their homes. They have 2 suspended possession orders hanging over them. grrrrr:mad:

Hi phoenix11 That's v interesting - we just offered 10% full & final, which they refused. I think it is unfair trading for them to sell debts for between 5-15p in the £ to a DCA but not offer us the same beforehand. They've come down from about £10 to £7k to £5k with us so 50%. Do you think they're making this offer before mass selling on of debts - they'd certainly make more from people buying at 30% than selling on. Do you think it's worth offering less and haggling them down? Good luck anyway - let us know what you do.

Hello Mrs Chips I was advised by fsa that the complaint should be directed at the broker who did the "mis-selling". I have complaints with all three: broker, Swift and Sterling Insurance. Is your broker still in business? Many of Swift's brokers are no longer around. Good luck

Swift have replied to funding enquiry as follows: "Please be advised that Swift is funded by a consortium of banks both in the UK and overseas which include Barclays and The Royal Bank of Scotland"

42 man: Letter is 2 months old. Should I be on another thread? Sorry if so. sweetjane

Here you go: converted to a different format - hope it's ok. sweetjane adobe swift 1.pdf adobe swift 2.pdf

OK I hope I haven't got you excited for nothing: I've attached the letter. What they say is we're "broadly based on 3-month LIBOR".. It's like think of the number you first thought of and now multiply it by several %. Then add "the cost of Swift holding its own capital" . What does that mean?

Yes Sparkie, We've brought up interest rates with Swift and it's all in our complaints docs which I'm going to email to OFT today. They go on about cost of their borrowing being high and not related to Bank of England rates OR Libor. They're part of Alchemy and we all know how well they're doing in these times of economic downturn. I don't understand why they can't fund for less with such "good" backing. They have not answered requests for info about their funders - their website quoted them as being "Major UK Banks". Alchemy refers to Swift loans as being funded "on balance sheet". . . does that mean they don't have to borrow?

Yes thanks for clarifying that Sparkie. FOS were interested when I spoke to them and sent 3 forms to me - probably primarily because of PPI mis-selling. The broker was fsa/fos covered so the PPI mis-selling will go to FOS. But of course the money is still being taken by Swift for the loan for the PPI (SWIFT PPI cover) plus interest plus all the other extortionate charges. The broker is now in administration (suprise suprise) so likely to be forwarded to finance compensation body. Is it worth me copying the 3 FOS complaint forms (broker/lender & insurance company) which cover PPI, charges, unfair agreement etc etc to FSA & OFT for info - although they always say they can't intervene in individual cases - I will spell it out that it is for their information only. Might be able to get legal aid because of financial hardship if go to court. There seems to be a big gap in protection for vulnerable people who need second charge loans which are not regulated. Maybe we should get John Prescott on our side? Keep up the good work.

Is there ever any point going to the FLA - this industry self-regulating? I don't think so. Also it restricts your time (6 months from company's final response) allowed for going to FSO. Hopefully in the future fsa and FOS will no longer be "light touch" overseers. Swift certainly try and encourage everyone to go to FLA and not FOS. I wonder why? Onwards and upwards.

Did the people who got £13k get it from Swift or the original broker? I'm helping mates with FOS complaints x 3 having had final responses from London Scottish (Easyloans) Brokers, Swift - Lender & Sterling (Insurance) co. Please put me on the list for any SWIFT sub forums. Cheers.

Hello all I've been reading this site for a while and getting great advice but this is my first post - apologies if it's not in the right place! We're having some success. Had a letter this weekend saying that a Halifax will refund all PPI payments on a loan BUT they want me to take out a new loan to cover the outstanding amount after all PPI is deducted. I have recently sent them a CCA 77-78 letter requesting original agreement and statements with £1 enclosed. I think the "new" loan is a strategy to cover the fact they can't find the CCA. I asked why I should take out a new loan and they sad they can't deduct PPI payments from a loan . . . ??? Any advice greatfully appreciated.