For anyone interested in persuing a claim against Swift for unfair charges make sure that your account has not been closed for more than 6 years i have just been informed by a firm of solicitors that as my account was closed in 2009 then it is now "Time barred" and no court action can be brought against Swift. This despite a case i had against Swift via FOS in 2012 from which i received a small amount of reduced charges back following a fos investigation. Despite the odd court case where these unfair charges and the way the accrue the interest have been awarded to the claimant i dont see anyone ever having any real success against Swift as their t&c's are tighter than a ducks arse and are pretty much able to do what they want and the ultimate goal is to take your home at any cost.

Anything to update on this case sofi?

Sorry about the delay, Yes i refer to a recent Swift case where the judge deemed the charges to be unfair. It was posted in a thread in this forum but relates to another Legal site. I cant seem to find it for now so if anyone else can link to it then that would be great.Thanks

Would FOS look at the complaint again as it would defiantly end up on their desk as we know what the response of Swift would be?

In light of a recent court case would it be worth my while in submitting another complaint regarding the unfair and excessive charges?

Just a brief outline regarding my experience dealing with Swift Advances regarding a excessive charges complaint of which involved Fos. 2005 I took out a regulated loan for £10000 to be paid over 5 years.. Regular monthly payments were made inline with the agreed amount, sometimes a day or so late. This triggers charges on the account of which also incur the same interest rate as the loan. as you can see the charges are relentless. Late 2008 i was in severe financial difficulty as i was elf employed my business was struggling. Realising the depth of debt especially with Swift following a redemption figure request i conceded that there was noway i was going to be able to repay this debt with the spiralling charges being added to the account. 2009 i lost my family home to Swift as i foolishly at the time gave up and did not fight my case in court and just assumed that no matter what i did they would take it anyway. 2012 Following media report about ppi scandal i started to look into the Swift charges and noticed i had ppi added, as i was self employed the ppi was invalid and i successfully reclaimed ppi from FSCS as the original broker had gone bust. Then i started looking more closer to the charges added to my account following a SAR request to Swift. Firstly i filed a complaint regarding excessive charges added to the account with Swift of which they dismissed with a Final response so i took my complaint to FOS. After a lengthy battle it was deemed that Swift acted appropriately in managing the account "I have not seen evidence to show that swift was not transparent about the charges or that you have been treated unfairly" is whats stated from FOS in their summing up letter. However as Swift had changed the amount they charge for some of the admin costs they agreed to refund the difference so i received a cheque for approx £900 in 2013. So it seems that despite all the complaining we do not even FOS agree that how Swift conduct their business is unlawful or done in a manner where the consumer is set to fail from the outset. For anyone wishing to know what the letter codes mean then here is an attached document. Im not sure the pdf file loaded properly in previous post. merged.pdf

The ombudsman's finding are very similar those awarded to myself and would not agree that Swifts charges/fees are by any means excessive or unlawful.

Thanks for the update Sofi, Try to keep us up to date as much as possible with your case as many people are watching for the outcome and wish you the best of luck.

Anything to update with this case? All eyes are watching.

Who did you approach to get the loan? Simply ask Swift and they may tell you, It is of no financial loss to Swift if you pursue a PPi claim as its against the broker and not Swift.

PPP is the same as PPi, However any complaint or claim you have regarding this can only be made against the broker and not Swift Advances. If the broker has since ceased trading then you can forward your complaint to the FSCS.

PPI is not provided by Swift but by the broker and can only be claimed back from the original broker or the FSCS if they no longer trade.

If your hearing is still tomorrow at 11.15am then Good Luck, Hope it goes well and in your favour.

https://consumercreditlitigationanddebtcollection.wordpress.com/2016/10/23/swift-advances-plc-v-daley/

PPI is nothing to do with Swift, You will have to approach the broker that set up the loan, if they are no longer trading then you can make your complaint/claim to the financial services compensation scheme (FSCS) The PPi part of all this is the easiest part in my experience.

Lets hope the judge sees sense and rules these charges "excessive" thus allowing the floods gates to open for many others to reclaim against Swift. Funny thing is unless you dig deep enough very few realise they are in debt with these charges from day one as Swift charge you for every letter they send you and also add charges if you call them and if just one charge is added its is accruing interest at the same rate as the original loan.

Its great to see such a positive response to this query which unfortunately anyone that falls into arrears with Swift Advances will encounter the exact same problem. Like me and many other we lost our homes due to the nature in which this firm carries out its business. Back in 2012/13 i made a claim to swift following the repossession of my home to reclaim some £13,000.00 in charges (not including interest) this was conducted through FOS after a 12 month battle all i managed to get back was £850.11 ( no interest added) which amounted to certain fees that originally had been charged on the account but later reduced. PPi was reclaimed vis FSCS as the broker was no longer trading and is not something Swift are accountable for. I have kept all paperwork relating to my claim in the hope that one day it is found that the way this firm operates is unlawful. I wish you every success in your claim against Swift as they are a tough nut to crack.

Ive noticed it's all gone very quiet in these Swift threads in the past few months. Not much seems to be happening with them.

Theres two things you need to do regarding your complaint/s. If you are making a complaint regading the possible misselling of PPI and the broker is no longer trading then you should send your complaint to the Financial Services Compensation Scheme (FSCS) Dont forget tho just because you had PPI this does not make it an automatic refund,PPI in itself is not illegal, the process in which it was sold to millions is whats in question not the policy itself. Regarding complaints about possible excessive charges then this complaint goes to the Financial Ombudsman Service (FOS) Details to be sent with your completed complaint form would be whats is returned from Swift following your SAR.Good Luck!

Hi Hunter, It is the Broker that you need to contact regarding a ppi complaint, If you find that the broker no longer is trading then you will need to contact the Financial Services Compensation Service (FSCS) and fill in the necessary form and have them look into you Ppi complaint. As far as i know the "Beattheswifties" group did not take off.Hope this helps.

Unfortunatly in the eyes of Swift your loan is not finished nor completed untill all monies including all charges have been paid in full and none payment is likely to lead to default and repossession proceedings started on your property.There is no easy solution for this other than to pay up and challenge the charges and hope you can reclaim them back.

John, Final judgement can only be given be an Ombudsman, the adjudicator may find that there is no complaint to be had, however you are then given an opportunity for the adjudicator to look again at your complaint, especially if there is new evidence or information to be added.Whilst an adjudicator can recommend that a firm takes action they cannot enforce it, only an actual ombudsman can do this hence why my complaint took this exact route and the adjudicator found that the charges were unfair and excessive but swift refused to comply with there request to refund so the case is now with the ombudsman for review and possible enforcement.Remember an Ombudsman is an actual person who can enforce the law against a financial institution.

John, It is my understanding following a recent press release that the Fos have taken on hundreds of new staff for the PPI section only and does not affect complaints to other departments and other subjects. When you say your complaint has been with the Fos for a year, do you mean you have not been assigned a case worker yet or adjudicator?

What was your outcome following your complaint with the FOS? Not sure why you think that the Oft are not interested as they can only accept information not complaints from the general public, this is used to assist there decision to allow a firm to use there credit licence, they cannot act on behalf of the general public! try oft v swift in google and then you will see that there very interested in Swift, just because back ground information is not made public does not mean nothing is happening What association do the FLA have in regards to Swift Advances?

Unfortunately due to the processing structure of the FOS even if i was able to give you my case workers email she would not be able to assist anyone as they have to be assigned your particular case in order to recover the facts and advise accordingly. That said tho, complaints logged regarding anything other than PPi get dealt by seperate departments within Fos so tend to get dealt with much more quickly than PPi complaints.