Swift Advance After Repo

[sofi3353]

Re: Swift Advance After Repo

Sofi,
Your not asking to stay in your home ......you are asking the Court to stay/hold up the proceedings.
They will use the hearing on 23rd Nov to apply for possession and if you don't ask for a stay the chances are they will get it unless you can persuade the court not to and there is not enough evidence at the moment to convince the court not to .....all you will have is Determined spreadsheet and you will need to explain every entry to The Judge
Sparkie

i understand it now sparkie.....thank you

i spoken to the solicitor and theres 99% that he will be able to represent me....hes just waiting for clearance from the law firm that he wishes to use and even if he cant he saying that most likely i will be able to get it adjourned

[Sparkie1723]

Re: Swift Advance After Repo

will be ringing the solicitor later to confirm of he is able to represent me on a no win no fee basis

can you please clear one thing for me the court has not given swift a possession order yet so why would it be best for me to write to them asking to agree in letting me stay

Sofi,
Your not asking to stay in your home ......you are asking the Court to stay/hold up the proceedings.
They will use the hearing on 23rd Nov to apply for possession and if you don't ask for a stay the chances are they will get it unless you can persuade the court not to and there is not enough evidence at the moment to convince the court not to .....all you will have is Determined spreadsheet and you will need to explain every entry to The Judge
Sparkie

[Sparkie1723]

Re: Swift Advance After Repo

Date	Reason	Type	Amount	No of Days	Interest	Compounding		Rate	c
15/05/06	FM Consent Letter	Admin Fee	23.00					0.00030575
06/06/06	FM Consent Letter	Admin Fee	23.00	22	0.15	46.15		0.00030575
20/06/06	Returned DD	Admin Fee	33.00	14	0.20	79.35		0.00030575
26/06/06	Arrears charge	Admin Fee	23.00	6	0.15	102.50		0.00030575
29/06/06	Phone Call	Admin Fee	23.00	3	0.09	125.59		0.00030575
03/07/06	Admin Charge	Admin Fee	23.00	4	0.15	148.75		0.00030575
04/07/06	Letter to Ist Mortgage	Admin Fee	23.00	1	0.05	171.79		0.00030575
04/07/06	Arrears charge	Admin Fee	23.00	0	0.00	194.79		0.00030575
12/07/06	Letter to Ist Mortgage	Admin Fee	23.00	8	0.48	218.27		0.00030575
18/07/06	Letter to Ist Mortgage	Admin Fee	12.00	6	0.40	230.67		0.00030575
26/07/06	Letter to Ist Mortgage	Admin Fee	12.00	8	0.56	243.23		0.00030575
26/07/06	Letter Received from !st	Admin Fee	12.00	0	0.00	255.23	x	0.00030575
20/10/06	Admin Charge	Admin Fee	33.00	86	6.71	294.94		0.00030575	x
24/10/06	Arrears charge	Admin Fee	23.00	4	0.36	318.30		0.00030575
26/10/06	Letter to Ist Mortgage	Admin Fee	23.00	2	0.19	341.50		0.00030575
30/10/06	Admin Charge	Admin Fee	23.00	4	0.42	364.92		0.00030575
31/10/06	Letter to Ist Mortgage	Admin Fee	23.00	1	0.11	388.03		0.00030575
31/10/06	Letter to Ist Mortgage	Admin Fee	23.00	0	0.00	411.03		0.00030575
31/10/06	Arrears charge	Admin Fee	23.00	0	0.00	434.03		0.00030575
07/11/06	Arrears charge	Admin Fee	23.00	7	0.93	457.96		0.00030575
09/11/06	Letter to Ist Mortgage	Admin Fee	12.00	2	0.28	470.24		0.00030575
14/11/06	Letter to Ist Mortgage	Admin Fee	12.00	5	0.72	482.96		0.00030575
14/11/06	Admin Charge	Admin Fee	12.00	0	0.00	494.96		0.00030575
14/11/06	Arrears charge	Admin Fee	23.00	0	0.00	517.96		0.00030575
14/11/06	Inconclusive Reply	Admin Fee	12.00	0	0.00	529.96		0.00030575
20/11/06	Letter Received from !st	Admin Fee	12.00	6	0.97	542.93		0.00030575
20/12/06	Admin Charge	Admin Fee	33.00	30	4.98	580.91		0.00030575	x
29/12/06	Arrears charge	Admin Fee	23.00	9	1.60	605.51		0.00030575
05/01/07	Letter to Ist Mortgage	Admin Fee	23.00	7	1.30	629.80		0.00030575
05/01/07	Arrears charge	Admin Fee	23.00	0	0.00	652.80		0.00030575
08/01/07	Admin Charge	Admin Fee	12.00	3	0.60	665.40		0.00030575
12/01/07	Arrears charge	Admin Fee	23.00	4	0.81	689.21		0.00030575
19/01/07	Arrears charge	Admin Fee	23.00	7	1.48	713.69		0.00030575
20/01/07	Admin Charge	Admin Fee	33.00	1	0.22	746.91		0.00030575
24/01/07	Arrears charge	Admin Fee	23.00	4	0.91	770.82		0.00030575
25/01/07	Arrears charge	Admin Fee	23.00	1	0.24	794.06		0.00030575
25/01/07	Default	Admin Fee	250.00	0	0.00	1,044.06		0.00030575
26/02/07	Management Charge	Admin Fee	70.00	32	10.22	1,124.27		0.00030575	x
09/03/07	Letter before Action	Legal	75.00	11	3.78	1,203.05		0.00030575
26/03/07	Issue	Legal	100.00	17	6.25	1,309.31		0.00030575
26/03/07	Management Charge	Admin Fee	70.00	0	0.00	1,379.31		0.00030575
30/03/07	Issue Fee	Legal	150.00	4	1.69	1,530.99		0.00030575
11/04/07	Form to Land Registry	Admin Fee	35.00	12	5.62	1,571.61		0.00030575
26/04/07	Management Charge	Admin Fee	70.00	15	7.21	1,648.82		0.00030575
17/05/07	Solicitors Agents Fee	Legal	82.25	21	10.59	1,741.66		0.00030575
29/05/07	Management Charge	Admin Fee	70.00	12	6.39	1,818.05		0.00030575
29/06/07	Management Charge	Admin Fee	70.00	31	17.23	1,905.28		0.00030575
23/07/07	W1 Letter sent	Admin Fee	100.00	24	13.98	2,019.26		0.00030575
23/07/07	Warrant Fee	Admin Fee	95.00	0	0.00	2,114.26		0.00030575
30/07/07	Management Charge	Legal	70.00	7	4.53	2,188.78	x	0.00030575
30/08/07	Management Charge	Legal	70.00	31	20.75	2,279.53		0.00030575	x
05/09/07	Eviction cancelled	Legal	100.00	6	4.18	2,383.71		0.00030575
10/09/07	Solicitors Agents Fee	Admin Fee	82.50	5	3.64	2,469.86		0.00030575
25/09/07	Cancelled repossession	Admin Fee	117.50	15	11.33	2,598.68		0.00030575
02/10/07	Management Charge	Admin Fee	70.00	7	5.56	2,674.24		0.00030575
26/10/07	Management Charge	Admin Fee	65.00	24	19.62	2,758.87		0.00030575
31/10/07	Letter sent	Admin Fee	100.00	5	4.22	2,863.09		0.00030575
02/11/07	Management Charge	Admin Fee	70.00	2	1.75	2,934.84		0.00030575
06/11/07	Letter sent	Legal	35.00	4	3.59	2,973.43		0.00030575
12/11/07	Solicitors Agents Fee	Legal	82.25	6	5.45	3,061.13		0.00030575
29/11/07	Eviction cancelled	Admin Fee	100.00	17	15.91	3,177.04		0.00030575
04/12/07	Management Charge	Admin Fee	35.00	5	4.86	3,216.90		0.00030575
06/12/07	Solicitors Agents Fee	Legal	82.50	2	1.97	3,301.37		0.00030575
07/12/07	Cancelled repossession	Legal	117.50	1	1.01	3,419.87		0.00030575
31/12/07	Letter to Ist Mortgage	Admin Fee	23.00	24	25.10	3,467.97		0.00030575	x
31/12/07	Arrears charge	Admin Fee	23.00	0	0.00	3,490.97		0.00030575
02/01/08	Arrears charge	Admin Fee	23.00	2	2.13	3,516.10		0.00030575
24/01/08	Arrears charge	Admin Fee	23.00	22	23.65	3,562.76		0.00030575
25/01/08	Admin Charge	Admin Fee	12.00	1	1.09	3,575.84		0.00030575
31/01/08	Letter to Ist Mortgage	Admin Fee	23.00	6	6.56	3,605.40		0.00030575
31/01/08	Arrears charge	Admin Fee	23.00	0	0.00	3,628.40		0.00030575
07/02/08	Arrears charge	Admin Fee	23.00	7	7.77	3,659.17		0.00030575
14/02/08	Arrears charge	Admin Fee	23.00	7	7.83	3,690.00		0.00030575
20/02/08	Arrears charge	Admin Fee	23.00	6	6.77	3,719.77		0.00030575
21/02/08	Admin Charge	Admin Fee	12.00	1	1.14	3,732.91		0.00030575
19/03/08	Arrears charge	Admin Fee	23.00	27	30.82	3,786.72		0.00030575
25/03/08	FM Consent Letter	Admin Fee	23.00	6	6.95	3,816.67		0.00030575
25/03/08	Arrears charge	Admin Fee	23.00	0	0.00	3,839.67		0.00030575
26/03/08	Admin Charge	Admin Fee	12.00	1	1.17	3,852.85		0.00030575
09/04/08	Admin Charge	Admin Fee	23.00	14	16.49	3,892.34		0.00030575
21/04/08	Arrears charge	Admin Fee	23.00	12	14.28	3,929.62		0.00030575
22/04/08	Admin Charge	Admin Fee	12.00	1	1.20	3,942.82		0.00030575
25/04/08	Arrears charge	Admin Fee	23.00	3	3.62	3,969.44		0.00030575
25/04/08	Default	Admin Fee	110.00	0	0.00	4,079.44		0.00030575
27/05/08	Management Charge	Admin Fee	35.00	32	39.91	4,154.35		0.00030575
27/06/08	Management Charge	Admin Fee	70.00	31	39.38	4,263.73		0.00030575
28/07/08	Management Charge	Admin Fee	70.00	31	40.41	4,374.14		0.00030575
28/08/08	Management Charge	Admin Fee	70.00	31	41.46	4,485.60		0.00030575
21/09/08	Litigation charges	Legal	1,721.40	24	32.92	6,239.91		0.00030575
26/09/08	Litigation charges	Legal	381.90	5	9.54	6,631.35		0.00030575
29/09/08	Management Charge	Admin Fee	70.00	3	6.08	6,707.43		0.00030575
16/10/16				2939	6,027.30	12,734.73		0.00030575
			6,124.80			12,734.73
							6,609.93

Spreadsheet for sophi prepared by Determined

[sofi3353]

Re: Swift Advance After Repo

Yes you should if you do not get legal representation and Yes you should write to Swift and ask them to agree to a stay.............again if can get representation you should the solicitor to do it for you.........if you cannot get legal representation between Determined and myself we will come up with viable points you can place before the judge to support a stay..............try your best to get that solicitor to take your case on.

will be ringing the solicitor later to confirm of he is able to represent me on a no win no fee basis

can you please clear one thing for me the court has not given swift a possession order yet so why would it be best for me to write to them asking to agree in letting me stay

[Sparkie1723]

Re: Swift Advance After Repo

thank you determined

so should i print this of and take it to court with me?

Yes you should if you do not get legal representation and Yes you should write to Swift and ask them to agree to a stay.............again if can get representation you should the solicitor to do it for you.........if you cannot get legal representation between Determined and myself we will come up with viable points you can place before the judge to support a stay..............try your best to get that solicitor to take your case on.

[sofi3353]

Re: Swift Advance After Repo

Hi Sofi

I may add to this as we go along. It is for your representative.

Swift Advances Plc business interests are wholly concerned with levying interest, on monies loaned or charges made.

The more often interest is levied, over a protracted period, the more financially beneficial it becomes to Swift Advances Plc.

Conversely, the exact reverse of that situation is most beneficial to the borrower
.
The less often interest is levied, compounding over the shortest possible period, the more financially beneficial it becomes to the borrower.

It therefore follows that the Agreement, in order to reflect a fair approach on this particular point, should be clear and concise as to how the borrower should avoid interest being levied on any charges that are incurred.

This particular point is covered in Paragraph M, and only Paragraph M of the Agreement, which reads thus.

You will be sent a notice of any costs, expenses and charges you must pay under clauses D, E, K, L, N, P and T. We have the right to amend these costs and expenses to reflect any change in the cost incurred by us in carrying out the work. We will provide you with at least 28 days notice of any changes in the level of such costs before they take effect. We will add our costs, expenses and charges as soon as we have to pay them or decide to charge them. You should pay them at that date. If you do not, we will charge interest on each day of the month (at the rate that applies to you loan) on

1. any costs, expenses and charges which we have added to your loan account, and which remain unpaid on that date
2. any interest we charged under (1) above up to the end of the previous month, and which remains unpaid on that day.

The relevant part begins ‘ We will add our costs, expenses and charges etc’.

Simply put, the appropriate way for the borrower to avoid interest being levied on charges, is to pay them, ‘at that date’. The date referred to is the date Swift Advances Plc has to pay or decide to pay a charge.

The statement is absolutely unambiguous and all of the borrower’s protection is contained therein.

The only way the borrower can possibly avoid paying interest is if Swift Advances Plc tell the borrower if they have levied the charge and for exactly how much and when.

The interpretation, implied within the clause, is the only way the borrower can be treated fairly.

By way of examples:-

• An attempted phone call
• A successful phone call to anyone other than the borrower
• A letter to a third party
• A letter received from a third party
• The cost of a solicitors agent
• The level of litigation costs
• Court fees paid

Each and every example is a reflection of a circumstance or activity outside the borrowers’ knowledge and their ability, to pay the charge, is totally dependent upon Swift Advances Plc giving notification of a date in the future when a charge would be levied.

Prior to October 2008, when changes in the Consumer Credit Act created the requirement, Swift Advances Plc did not tell borrowers of charges levied.

Documentary evidence is available where Mr Alan Loblack, for Swift Advances Plc, confirms that fact.

The fees and charges that have been levied on this account have been tabulated.

91 charges were levied prior to October 2008.
The total cost of the charges alone was £ 6124.80
The interest that will have accumulated by 20th of November 2016 is £ 6676.69, and that is if you only apply an interest rate at 11.16% p.a.
There have been several interest rate increases during the lifetime of the agreement, which for simplicity, have not been included.
The charges themselves have been adjudged unfair in other proceedings.
The interest applied is wholly inappropriate, but typical of Swift Advances Plc cavalier attitude, when pursuing maximum profit.

thank you determined

so should i print this of and take it to court with me?

[Determined]

Re: Swift Advance After Repo

Hi Sofi

I may add to this as we go along. It is for your representative.

Swift Advances Plc business interests are wholly concerned with levying interest, on monies loaned or charges made.

The more often interest is levied, over a protracted period, the more financially beneficial it becomes to Swift Advances Plc.

Conversely, the exact reverse of that situation is most beneficial to the borrower
.
The less often interest is levied, compounding over the shortest possible period, the more financially beneficial it becomes to the borrower.

It therefore follows that the Agreement, in order to reflect a fair approach on this particular point, should be clear and concise as to how the borrower should avoid interest being levied on any charges that are incurred.

This particular point is covered in Paragraph M, and only Paragraph M of the Agreement, which reads thus.

You will be sent a notice of any costs, expenses and charges you must pay under clauses D, E, K, L, N, P and T. We have the right to amend these costs and expenses to reflect any change in the cost incurred by us in carrying out the work. We will provide you with at least 28 days notice of any changes in the level of such costs before they take effect. We will add our costs, expenses and charges as soon as we have to pay them or decide to charge them. You should pay them at that date. If you do not, we will charge interest on each day of the month (at the rate that applies to your loan) on

1. any costs, expenses and charges which we have added to your loan account, and which remain unpaid on that date
2. any interest we charged under (1) above up to the end of the previous month, and which remains unpaid on that day.

The relevant part begins ‘ We will add our costs, expenses and charges etc’.

Simply put, the appropriate way for the borrower to avoid interest being levied on charges, is to pay them, ‘at that date’. The date referred to is the date Swift Advances Plc has to pay or decide to pay a charge.

The statement is absolutely unambiguous and all of the borrower’s protection is contained therein.

The only way the borrower can possibly avoid paying interest is if Swift Advances Plc tell the borrower if they have levied the charge and for exactly how much and when.

The interpretation, implied within the clause, is the only way the borrower can be treated fairly.

By way of examples:-

• An attempted phone call
• A successful phone call to anyone other than the borrower
• A letter to a third party
• A letter received from a third party
• The cost of a solicitors agent
• The level of litigation costs
• Court fees paid

Each and every example is a reflection of a circumstance or activity outside the borrowers’ knowledge and their ability, to pay the charge, is totally dependent upon Swift Advances Plc giving notification of a date in the future when a charge would be levied.

Prior to October 2008, when changes in the Consumer Credit Act created the requirement, Swift Advances Plc did not tell borrowers of charges levied.

Documentary evidence is available where Mr Alan Loblack, for Swift Advances Plc, confirms that fact.

The fees and charges that have been levied on this account have been tabulated.

91 charges were levied prior to October 2008.

The total cost of the charges alone was £ 6124.80

The interest that will have accumulated by 20th of November 2016 is £ 6609.93, and that is if you only apply an interest rate at 11.16% p.a.

There have been several interest rate increases during the lifetime of the agreement, which for simplicity, have not been included.

The charges, in part, have been adjudged unfair in other proceedings. ( Swift Advances Plc v Daley Bow County Court 4PB02756).

The interest applied is wholly inappropriate, but typical of Swift Advances Plc cavalier attitude, when pursuing maximum profit.

[sofi3353]

Re: Swift Advance After Repo

I think a letter to Swift would not out of order asking them to agree to a stay in proceedings, setting out the reasons why, in that;
At this moment in time she is at a severe disadvantage due to the fact they have not provided her with the information and records they have especially;
++++++++++++++++++++++++++++++++++++++++++++++++++ ++++++++++++++++++++++++++++++++++++++
this is not to put in the letter but what she needs to have is
1. Her complete History Notes.
2. Copies of all content of letters and correspondence hat has " allegedly" been sent to her.
3. Copies of her credit file that would have without doubt been down loaded and copied by Swift and more likely than not her broker ( Now gone bust)
4. Copy of her underwriting sheet or the information contained in it.
5. Copy of the document sent to her broker after completion advising broker of their brokers fee deducted from her loan and any commission payment being paid.
Her SAR will take up to 40 days and she will need time to sift through it and prepare her Defence and Counter claim so I think a stay until some time middle of January would be needed otherwise she will be at a very severe disadvantage in Court ...........if she doesn't get legal representation.
************************************************** ************************************************** ************
I think her Defence and Counter claim should be under the UTCCC's, Section 140 of the CCA, the CCA Act itself and the FCA handbook on Fair Business Practice Guide.
I Swift will not agree she can present the letter asking them to agree to the Court on 23rd this month and ask the Court to Order another stay.
Anyone any views.............she is desperately short of time.
Sparkie

sorry sparkie but i dont understand what you are trying to say

are you suggesting i write to swift and ask them???

[Sparkie1723]

Re: Swift Advance After Repo

I think a letter to Swift would not out of order asking them to agree to a stay in proceedings, setting out the reasons why, in that;
At this moment in time she is at a severe disadvantage due to the fact they have not provided her with the information and records they have especially;
++++++++++++++++++++++++++++++++++++++++++++++++++ ++++++++++++++++++++++++++++++++++++++
this is not to put in the letter but what she needs to have is
1. Her complete History Notes.
2. Copies of all content of letters and correspondence hat has " allegedly" been sent to her.
3. Copies of her credit file that would have without doubt been down loaded and copied by Swift and more likely than not her broker ( Now gone bust)
4. Copy of her underwriting sheet or the information contained in it.
5. Copy of the document sent to her broker after completion advising broker of their brokers fee deducted from her loan and any commission payment being paid.
Her SAR will take up to 40 days and she will need time to sift through it and prepare her Defence and Counter claim so I think a stay until some time middle of January would be needed otherwise she will be at a very severe disadvantage in Court ...........if she doesn't get legal representation.
************************************************** ************************************************** ************
I think her Defence and Counter claim should be under the UTCCC's, Section 140 of the CCA, the CCA Act itself and the FCA handbook on Fair Business Practice Guide.
I Swift will not agree she can present the letter asking them to agree to the Court on 23rd this month and ask the Court to Order another stay.
Anyone any views.............she is desperately short of time.
Sparkie

[sofi3353]

Re: Swift Advance After Repo

Hi Sofi

I accept you might have been told about management charges after October 2008 because it became the law BUT were you ever told about them before 2008. You might have come to know about them much much later when you saw an AAAs or some other summary BUT were you told about them separately before October 2008.

I will post a table soon that shows how much interest they want to charge on charges prior to October 2008.

Regards

Determined

hi Determined

i have been through all the letters that i could find prior to october 2008 but have not come across any letter which states anything about management charges or fees.....All letters prior to October 2008 just refer to any arrears that we were in

[Determined]

Re: Swift Advance After Repo

as far as i can recall i have never been told of that litigation charge.
the only charges i recall of being told of are the monthly management charges of 60 or 70 pounds

Hi Sofi

I accept you might have been told about management charges after October 2008 because it became the law BUT were you ever told about them before 2008. You might have come to know about them much much later when you saw an AAAs or some other summary BUT were you told about them separately before October 2008.

I will post a table soon that shows how much interest they want to charge on charges prior to October 2008.

Regards

Determined

[sofi3353]

Re: Swift Advance After Repo

Hi Sofi,

This is important. Prior to October 2008 there was no requirement, other than contractually, to notify the borrower of any charges that had been levied on the account. Obviously because it was very much to their advantage Swift did not tell anyone. I have several examples of where Loblack said that there were not required to tell people so they did not.

I imagine the first statements you got were in late 2008 or early 2009.

How were you told of any of the charges made prior October 2008, if in fact you were.

Look at the 21st of September 2008, have you ever been told about the Litigation charges of £1721.40.

Regards

Determined

as far as i can recall i have never been told of that litigation charge.
the only charges i recall of being told of are the monthly management charges of 60 or 70 pounds

[Determined]

Re: Swift Advance After Repo

recieved the statements annually
every april as far as i can see

i found the 2010 and 2011 statement amd it does show the fees and interest being charged

i will have to go through all the paperwork and check if i can find all the statements

Hi Sofi,

This is important. Prior to October 2008 there was no requirement, other than contractually, to notify the borrower of any charges that had been levied on the account. Obviously because it was very much to their advantage Swift did not tell anyone. I have several examples of where Loblack said that there were not required to tell people so they did not.

I imagine the first statements you got were in late 2008 or early 2009.

How were you told of any of the charges made prior October 2008, if in fact you were.

Look at the 21st of September 2008, have you ever been told about the Litigation charges of £1721.40.

Regards

Determined

[sofi3353]

Re: Swift Advance After Repo

What was the date of the first statement you received that included any charges that they had added, Did every subsequent statement show the charges added and did you only receive them quarterly

If you can post them I can do some work on which of them are bearing interest incorrectly.

Regards

Determined

recieved the statements annually
every april as far as i can see

i found the 2010 and 2011 statement amd it does show the fees and interest being charged

i will have to go through all the paperwork and check if i can find all the statements

[sofi3353]

Re: Swift Advance After Repo

will do....will have to find it first

what info does determined need??

emailed to you sparkie the eastern counselling letters that i could find