Swift advances help required please

[Fayjax]

Hi all.

 

I have just recently registered and been looking through the forums regarding the biggest **** in this country - Swift Advances.

 

I have seen all the help given to people around this forum especially ims21 which I honestly applaud and was wondering if you can help me with this too?

 

I'm doing this for my father who quite frankly is just about managing to keep up with his payments and has been in arrears for quite some time on and off. He has his 1st Mortgage with another mortgage provider Birmingham Midshires - £50,000 in 2005 and this is his second secured loan - £34,995 in 2007.

 

I have recently asked them to send a full statement for all charges etc from when the loan was taken out in 2007 and I am shocked like many on here on these amounts!!!

 

I also asked for a settlement figure and the figures make my mind boggle!!!

 

Original Loan Amount - £34,995.00

Interest Levied (excluding on Charges Incurred) - £32,675.41

Less Payment Received - £35,373.47

Sub Total - £32,296.94

 

Charges Incurred:

Court Fees - £245.00

Tradesmen Invoices - 58.75.

Legal Fees - £1951.04

Post Default Collection Charges - £1713.00

Solicitors Charge to Attend Court Hearing - £164.50

Loan Co Admin Charge - R/D Cheque Charge - £264.00

Default Charge - 250.00

Other Fees & Charges - £1106.00

Interest Levied on Charges Incurred - £5466.42

 

SUB TOTAL - £43,515.65

Add Redemption Administrative Fee - £150.00

Early Settlement Figure - £0.00

 

SETTLEMENT FIGURE - £43,665.65

 

I honestly feel so sorry for my father and for everyone out there who deal with these sharks. What I am after with all your kind help of course is to bring this figure down considerably and I don't know where to start.

 

I have however already sent off a SAR request today and I am waiting for their response.

 

Kindest Regards

Fay

[renegadeimp]

Let us know what the SAR brings back, im betting a Lot, if not the bast majority of the charges are unenforceable/unlawful and can be reclaimed.

[Fayjax]

Let us know what the SAR brings back, im betting a Lot, if not the bast majority of the charges are unenforceable/unlawful and can be reclaimed.

 

Thanks for your response. I certainly will do.

 

Kind Regards

Fay

[BRIGADIER2JCS]

A lot will depend on if these charges are specifically mentioned in the Mortgage Contract.

Charge for RD cheque seems very large to!

 

Debt collection charges if not specifically allowed for are not allowed, and as it seems there may be a CCJ ( Court charges £245.000). Have you checked what this is about?

 

Has he checked his credit reference files if not it would be wise to do so.

This needs early attention as a SAR gives the 40 days to comply!

 

Were you specific as to the most important documents you required in the SAR?

[Fayjax]

Thanks for your response BRIGADIER2JCS

 

I havent asked Swift anything yet as just trying to compile all the information before presenting a case.

 

 

No i didnt mention for any specific documents when requesting the SAR. Should i have done so? I just used a template that alot of people have already used and filled out on here for Swift.

 

 

I know my fathers credit file must be horrid which is probably why he ended up with these douchbags. Equifax and Experian are offering free 30 day checks so i can certainly check and see how deep the rabbit hole goes.

 

 

Thanks

Fay

[BRIGADIER2JCS]

Hello Fay,

 

I just wondered if you had asked for a copy of a credit agreement.

I would be worth getting the credit file.

[Fayjax]

I will definitely have a look. Does anyone know how long the SAR usually takes to come through? I know there is a maximum lead time of 40 days. Just cant wait that long. I sent it via recorded delivery.

 

Fay

[BRIGADIER2JCS]

Hi the time scale is 40 calendar days to comply as you say, if they is little data it could well be quicker.

[Fayjax]

Ok thanks.

 

Will let you all know when it finally arrives.

 

Regards

Fay

[determindator]

Hi Fay J, Tell them to include the full history notes. This is a printout of the record for phonecalls, correspondence and their remarks.

You also want AAAS in A3 format. This is a printout which shows entries on the account.

If you don't have already, a copy of the original agreement and an account statement from the beginning of the loan.

The interest rates charged and any changes with dates during the loan.

 

As mentioned above, lets see what comes back.

 

Did your father have PPI included in the loan?

 

Do you know if the broker is still trading or was it sold by an IFA?

 

 

 

Keep us updated.

Edited August 20, 2013 by determindator

[Fayjax]

Hi determindator

 

I have already sent for the SAR and did not ask for any of those things you mentioned however will send them a letter today to make my request more specific as you've mentioned.

 

No my father hasn't taken out PPI although he was convinced he had done due to the payments being high only to find out that it was actually due to the ridiculous amount of interest Swift charge!

 

believe it or not my father has no idea who the broker was. He is very unorganised and forgetful like that (one of the many reasons why I have now got involved) and I'm not sure how to find out either.

 

Regards

Fay

[determindator]

Swift will know who the broker is, I expect on the agreement there will be a fee paid to the broker.

[Fayjax]

I am relying on the agreement just like you have suggested to tell me who the brokers was. I have found a statement showing a broker fee and admin charge so it definitely is via a broker.

 

I was just wondering though, is there any reason as to why i would need to know who the broker is? Is it for PPI purposes?

 

 

Thanks

Fay

[determindator]

It's useful to find out as much info as poss, you may need it at some point, i.e what the broker asked or said at the time.

 

I see PPI was not included in your loan agreement, as it was for many.

 

You say your Father is finding it difficult to pay the contracted amount each month. Tell them what he can afford to pay.

Edited August 21, 2013 by determindator

[Fayjax]

He's just about able to manage but yes theres an expenditure form he needs to fill out and they will decide wether the current amount is feasable for him to pay however my fathers refusing to pay any less as just wants to pay off loan asap as he thinks (quite rightly so) that eventually paying less would mean a longer term of the loan and eventually many more £££££'s added and as we are all aware swift are out to get your house repossesed.

 

Fay

[determindator]

Ask for an early settlement figure.

[Fayjax]

I have and the figure at the moment is £43,665.65 with further details on my first post. I am trying to bring that figure down considerably.

 

I have just received all the details from the SAR today. However I think I am missing the AAA3 document.

 

What I have received is:

 

Copy of Credit Agreement

Copy of Legal Charge

Repayment Record

Transaction Record

 

I am in the process of putting the transaction record on to an Excel file so I can work out if the figures and amounts due are correct or not. This will of course be quite time consuming but I am definitely not taking Swifts word on anything.

 

Anything else you guys think I should be doing? I'll come back to you with my findings.

 

Regards

Fay

[Fayjax]

Hi Guys.

 

Who else can I complain to regarding this? would be the Financial Ombudsman? what are my options?

 

Many Thanks

Fay

[renegadeimp]

Have you recieved the SAR yet? You need to get as much info as you can and exhaust the creditors complaints procedure before the FOS can get involved.

[Fayjax]

Hi.

 

Yes I have received the SAR and have been doing some analysis the last week or so.

Should i email them through their complaints email or write in?

Also im not sure how to mention that if there resolution is not acceptable then i will then forward the complaint to the FOS?

Also is there any other body I can mention apart from the FOS?

Thanks for your help

Fay

[John 1963]

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.

[John 1963]

Hi.

 

Yes I have received the SAR and have been doing some analysis the last week or so.

Should i email them through their complaints email or write in?

Also im not sure how to mention that if there resolution is not acceptable then i will then forward the complaint to the FOS?

Also is there any other body I can mention apart from the FOS?

Thanks for your help

Fay

 

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.

[Fayjax]

What are the OFT? As in what does it stand for?

 

Wow so looks like these bodies are of no help then.... Such a joke. Well I'm going to send the complaint off in writing as suggested very soon and will let you all know of the outcome.

 

Kind Regards

Fay

[BRIGADIER2JCS]

OFFICE OF FAIR TRADING, amongst other matters the administration of CCA 1974 is their responsibility.

 

Soon to be superseded by the Financial Conduct Authority, (FCA).

 

These bodies do not reply to individual complaints, but the FCA apparently will take a pro-active stance.

[Fayjax]

Thanks for the input guys.

 

Will let you know the outcome.

 

Regards

Fay