Swift Advances problem

[john 1963]

Re: Swift Advances problem

lancasterlassie you might do better if you posted on the property issues section 2/3 rds of the way down the homepage. the people are great here but you will need to supply more information for the best advice.

[john 1963]

Re: Swift Advances problem

well I'm absolutely fuming, I had arranged for a meeting today with my local CAB as I wanted them to look things over and see what they said. 10 days ago I told the woman at the FSA I needed all the paperwork I had sent her so I could show it to the people at the CAB, she emailed me today to say she was sorry and had forgotten about it. What the hell is wrong with the FSA?

[john 1963]

Re: Swift Advances problem

Davy the FSA have emailed me the documents back and I have managed to convert them to Adobe PDF, can you tell me how to erase the personal info on them and then get them on here thanks.

[john 1963]

Re: Swift Advances problem

I think I have it Davy

[john 1963]

Re: Swift Advances problem

can somebody just confirm for me that the PDF file on my previous post can be opened and read.

[john 1963]

Re: Swift Advances problem

the lady from the FSA finally seems to be getting her teeth into Swift, this is a copy of the email she has sent them.................

FOS Ref: 11713214 - XXXXXX
Your Ref: XXXXXX/XXXXX
You may remember this case and thank you for sending the additional information I requested. I have some concerns regarding this loan and the current balance.
It seems that the original loan, plus interest and fees amounted to £4780. To repay this loan Mr and Mrs XXXXXX needed to pay £79.67 per month for 60 months.
The loan was due to expire on 27 February 2012 but Mr and Mrs XXXXXX have been told they still owe around £6,000 - can you please confirm the current outstanding balance.
I can see that during the first year of the plan there appears to have been problems with direct debits, but as I am given to understand, from what Mr XXXXXX has said, the payments in dispute were eventually found by Swift, so Mr XXXXXX does not consider the records I have are up to date as all payments went through.
I note that from March 2008 - July 2011 payments of £81.16 were received every month on time. I don't have any payment record after July 2011, but maybe you can provide this or at least confirm that payments were received from July 2011 until term expiry of 27 February 2012.
If this is the case, then I cannot understand why after five years of payments Mr and Mrs XXXXXX still owe so much money. There appears only to have been DD collection problems in the first year, and Mr and Mrs XXXXXX deny this. If you then consider that you are willing to refund in total of around £788, I cannot see where the final balance figure comes from - it seems particularly excessive considering all the payments which have been made.
Furthermore, I cannot understand why any litigation fees have been added in the first instance (some of which you have offered to refund) . It does not appear that the account was ever heavily in arrears and only seemed to have 'teething problems' with the direct debits during the first few months, and as I have previously mentioned Mr and Mrs XXXXXX suggest that this was an error caused by the lender.
Having further reviewed the fees/charges I do wonder what some of these are for, for instance:-L&D fees and adjustments (charged several times)
Litigation charges in total of £1104 of which you have agreed to refund £225.51 and £229.14 (why only a partial refund, and why was any litigation needed?),
Several redemption req to 3rd party, what are these for?
Default charge £250?
M61;RCD £12?
PIB/S; BOR Letter £35;
IS/LBA1 letter sent £75?
IS/ISSUE £100?
ISSUE FEE £150 I can see that in February 2008 Mrs XXXXXX phoned to say she had been making payments and cannot understand why these have not been credited to the account. She said she would send in her payment book.
I can see that after this there is a note to say this was received by Swift and proceedings were to be adjourned. Therefore, it would seem, on the face of it, that Mr and Mrs XXXXXX, may be correct in that payments had not been properly credited in the first place.
Can you also expand on the notes for 7 and 11 February 2011 and 4 April 2011 which refers to interim and final charging orders being received from CapQuest and Santander - what does this refer to and how did it affect the loan with Swift?
Mr XXXXXX has asked me to obtain an 'actual accrual statement' - if this is available perhaps you can forward this. Alternatively I believe I need a full and complete up to date statement of the account.
Perhaps you can please explain why the balance has increased so much bearing in mind that four out of the five years payments have been received in full, and on time, and only the first year appears to have had problems which may have been resolved, according to Mr and Mrs XXXXXX.
I look forward to your comments and trust you will be in a position to respond as soon as possible. Thank you.

[Guest]

Re: Swift Advances problem

This is excellent news, it will force them to explain how they arrived at these figures, I suspect some serious back tracking on the horizon.

D

[john 1963]

Re: Swift Advances problem

yes has given me renewed hope davy, she didn't seem to be that interested at first

[john 1963]

Re: Swift Advances problem

well it seems it is time to raise the white flag. Finally had the judgement off the FOS and she has managed to find about £400 that she thinks I should not have been charged. However despite her saying that they wouldn't, Swift have still been applying interest to the account while it has been investigated and the sum owed is now just short of £7000. There is not even any mention of the charging orders to santander and capquest from what I can see, and despite her being told to ask for an enlarged AAAS they have sent it in A4 size and it is unreadable. i honestly don't know what to do next, would the FSA or OFT be any more use or do I just let Swift take the house?

[Sparkie1723]

Re: Swift Advances problem

I would E-mail the OFT and tell them they have not taken any notice of the FSA in not applying interest whilst it was under investgation .............that comes under the remit of the OFT as well as the FSA .......that would be an Unfair Act and that Becomes an Unfair Relationship..it is also a breach of THe OFT's view on Fair Trading.......the more complaints The OFT get about Swift ......the more the pressure is on them to Act.

Meanwhile write to Swift and ask them this question......To what Bank rate is the Interest rate they charge linked to ..........Is it THe BOE....the LIBOR or some other rate? Please post up their answer ...if and when you get one

Sparkie

[john 1963]

Re: Swift Advances problem

sparkie the woman from the FOS said they probably wouldn't charge interest while it was being investigated not that they definitely wouldn't. I know what these people are like and I was fairly confident they would and they have not disappointed me. The interest rate charged will be whatever they like because our payments increased in late 2007 when the interest rates went up however they did not decrease a few years later when the interest rates went to an all time low.

[john 1963]

Re: Swift Advances problem

davy any suggestions?

[john 1963]

Re: Swift Advances problem

Sparkie do you know the name of the head man or CEO is at Swift Advances?

[john 1963]

Re: Swift Advances problem

I am out of the office on annual leave until Monday 26th November 2012. I will have limited access to emails during this time.

During this period please contact:

Associate Director - Chris Snell at Chris.Snell@barclays.com, or on 0207 116 5260.

Alternatively my Relationship Support Manager, Edward Lane, may be reached at Edward.Lane@barclays.com, or on 0207 1161167.

For urgent payment and operational enquiries please contact my Client Service Executive on:

Ella Green, + 44 (0)870 909 5587
Email ella.green2@barclayscorp.com


here's the first reply Sparkie, should I mail his deputy?

[john 1963]

Re: Swift Advances problem

Sparkie this chap I've emailed at Barclays isn't THE George Osbourne is it?