John 1963
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Everything posted by John 1963
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Mariknub v Swift - 2nd charge loan up to age 88!!
John 1963 replied to Mariknub's topic in Swift Advances
I would suggest starting your own thread mate and post all the info you have available -
yes and they will say what nasty people they are at Swift and probably order them to knock £500 off the balance after it has taken them over 18 months to reach that conclusion. By that time you will have accrued another £5k in charges.
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always write to them and send it recorded delivery as they are known to lose emails. They will suggest to you that you approach the FOS if you are not happy with Swift and they should send you a small guide on how to complain. The FOS may tell you that Swift will not be adding further charges while the FOS are investigating, DO NOT TAKE ANY NOTICE as Swift will still be adding their charges even if it takes the FOS 18 months to investigate.
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you can complain to the OFT, they will not do anything but the complaint will be logged as they cannot do anything about individuals. You can complain to the FOS but my experience of them is worse than useless but again at least it is another strike against Swift's name. Complain to your MP if he/she is any good they might take a bit of interest, mine is useless.
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all I would suggest is get proper legal advice
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the government has chopped the budget for our local CAB so they are going to have to close down. More good news for swift
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Swift Advances, restricsions Lending by OFT
John 1963 replied to great shot jack's topic in Swift Advances
People should write to the OFT and complain every other day, and have you done this? -
they really are expensive and I was a mug. The way they came across to me I thought they were some sort of government backed body for helping the disabled, but I think I am correct in saying they are just a business. The scooter I had was nearly £4k which I wasn't bothered about because I had it from new, it was looked after and serviced regular plus I expected to probably be able to buy it for less than £1k at the end. I could have purchased the same scooter from a dealer for £3k new so they have made at least £1k profit then whatever they get for it now off a dealer.
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Anyone who now has a mobility scooter through their scheme is no longer given the option to purchase it at the end of the 3 year contract. Not very happy to find this out yesterday, when I had my scooter I was told I would be able to purchase it for a nominal sum at the end of the contract. Had I known at the time, I probably would never have had one with them in the first place as you can buy them new of dealers for less than Motability charge. Those who have cars with them may need to look into this also as it is possible they could be affected.
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thanks for that but people please keep them coming this is very important. If we could find 60 you are looking at nearly 10% of the entire commons and that would make them take notice. Even if you have not contacted your MP yet about Swift think about doing so as it will not do your fight any harm.
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have any of you who have a complaint against Swift contacted your MP about them? If so could you please post up here the details of the MP concerned as a lobby group of MP's is trying to be established to try and help Swift customers. The importance cannot be stressed enough, obviously the more MP's involved the more the right people will take notice.
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Swift Advances, restricsions Lending by OFT
John 1963 replied to great shot jack's topic in Swift Advances
I have seen it mentioned that they are in financial difficulties -
yes they are
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the letter they sent to me last week said they were sorry for the time being taken but they had a massive workload. I was assigned a caseworker last March, it was then passed to an adjudicator last November for their final judgement. I am 90% certain they will find in favour of swift as they usually do.
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the FOS are struggling to cope at the moment and have had to take on more staff. My complaint has been with them for a year now which suits Swift fine as they are still charging interest every month, my bill has gone up £1200 in the last year since the FOS were handed the complaint. The funny thing is the FOS said Swift would be very unlikely to charge interest while it was being looked at, you would have thought they would have known the company better by now.
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I was charged £1100 legal costs despite never being taken to court
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sparkie posts on the other site I have mentioned, because of his battles with Swift they have a gagging order on him
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When a lender wants to raise cash they engage a legal firm ( these are called Presentors) who draw up the legal documents which they then lodge with companies house....these are called 395 Debentures..........it is these documents that record the legal assignment of securities required by the Bank in question to lend further money on YOUR loan agreement with Swift...........this although not acceptable to us is accepted by the financial world and the law of Finance.
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I dont know where to start (swift secure loan)
John 1963 replied to silsal's topic in Swift Advances
please post a link to the case you saw on MSE -
I have to explain that it is an unqualiified view but the information and interpretation is believed to be accurate. Swift have a revolving account of £400 million with Barclays ( Its like an overdraft). But before Barclays will allow Swift to draw down the funds from this account by way of the cheque they send you the customer, Barclays demand: 1…Your executed credit agreement. 2…The Legal Charge that Swift Register on your property, and; 3….The verification of income and Swifts assessment ability to pay back the loan. What happens in a behind the scenes there is an agreement deal done and that is, Swift assign the loan and the Title Charge to Barclays……………This is never disclosed it it done under the veil of Corporate Secrecy. To all outsiders it appears that Swift own the Title Charge…….but this is not true…….they have had to assign it to Barclays. This is what an Xdraw document is all about, it is a prommisary note between Swift and Barclays look up what a promissary note is and you will see what is meant This is Barclays secret way into the sub Prime Lending market..and it is Barclays that control the Interest Rate by way of the LIBOR Rate which they fixed.
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that's how they work. Do not take them to court you will lose and your £33k will become £60k after their costs are added
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thanks trucker I had not noticed that
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can I direct those of you who are interested to this forum http://www.google.info/forums/forum.php it is more active than here regarding Swift, and trust me some of the brains taking them on may suprise you infact one of the founders is actually a solicitor.
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the thing is Swift will still be charging interest to your account and the FOS will not find in your favour. Sorry to sound so negative but the FOS are toothless, I have been there.
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you've got a long wait, will take near to 6 months
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