Swift Advance After Repo

[sofi3353]

I had a swift secured loan of £12k. Taken out in 2006

Loan was taken out in joint names but my husband was only income earner but the property is only my name

Got into arrears

Was taken to court for repossesion but order suspended on grounds that I pay contractual instalment plus 150 towards arrears as this would mean all arrears are paid by end of loan term

Loan term ended April 2016 and all arrears paid

Swift have taken me to court again for repossession on breach of contract grounds as they are claiming I still owe them £30k

In total I have paid them £23k... Which is almost double what I borrowed but they still claiming I owe £30k

Went to court August 10 2016 but was adjourned due to lack of evidence from swift regarding balance and previous suspended order.*

i made a proposal for payment of 250 per month but has been refused by swift
was back in court 26 September 2016.....

we borrowed £10000
£2825*PPI*& broker fee
paid £23262.75*
loan term ended April 2016 but swift claiming we still owe them £30409.24

All advice would be useful on what I should do

please anybody anything

[sofi3353]

Re: Swift Advance After Repo

This seems to be heading in the right direction considering Swift were trying to evict you from your home at the start of this thread.

I'm really please to see you fight back and get somewhere.

The tide has turned

Di

thank u

[meellis]

Re: Swift Advance After Repo

Well Swift agreed to a stay for a month pending an agreement, are discussions still on-going or as an agreement been made? Very interested in Swift's attitude at the moment so any info would be gratefully received.

[veryannoyed]

Re: Swift Advance After Repo

Back on reply 29 you have a copy of your agreement. On page 1 and 3 is a box and an underline which should contain a signature of the lender but on your document it is blank. Is it blank on the original document ie not signed by Swift or is it just redacted so that it can be posted on the LB site.

[sofi3353]

Re: Swift Advance After Repo

sorry but dont understand what you mean

[veryannoyed]

Re: Swift Advance After Repo

Sofi

On the agreements do you actually have a copy which is signed by the lender in all the appropriate places.

[sofi3353]

Re: Swift Advance After Repo

thank u Andrew

[andrew1]

Re: Swift Advance After Repo

Swift won't back down on anything, not a penny, unless you have something which would wipe the whole thing out so you must have something significant. If they do want a confidentiality order attached to this, whilst I'd love to know what failings they have in your particular case, make them pay for it dearly in whatever deal they do if you are silenced!

If you are silenced, be sure to tell no-one as there is someone I heard about who had their deal revoked because they told people...just a word of warning!

If the outcome makes your life easier, then I wish you all the best with it.
Good luck. You'll be glad to be rid of them.

A1

[sofi3353]

Re: Swift Advance After Repo

tnx Meelis

[meellis]

Re: Swift Advance After Repo

Thanks for getting back, obviously would like to see you do well so don't reveal anything that might jeopardise your situation but any ideas you or your advisor have will always be gratefully received. These bar stewerds have been harassing too many for too long and need bringing to their knees by somebody soon. That is quite a hefty reduction they have made as a first offer and you can bet it is still favourable to them for some reason so knowing what frightens them will give you a strong position in your counter offer, good luck I am sure there are a lot of victims rooting for you.

[sofi3353]

Re: Swift Advance After Repo

yes i have representation....a very good solicitor who is also advices on this site.
yes Swift did supply everything in the timescale they were required to.
the only thing they have not provided as of yet is the underwriting sheet.
they made a settlement of £20.000 instead off the £30.000 but i'm not prepared to agree to that so will be making a counter offer.

[meellis]

Re: Swift Advance After Repo

Its great news Sofi definitely the right direction but not completely out of the woods. Did you get representation or is it all down to yourself? Did Swift supply anything to the courts in the timescale they were required to? Swift don't seem to do things without a reason so understanding that will help with your settlement, are they buying time, hoping you will make a settlement they aren't really entitled to without court or do they just know you have something that will hurt them. So many questions lets hope the answers lead you to a great finale.

[andrew1]

Re: Swift Advance After Repo

Maybe you can let us know Sofie what the likely area's of contention may be if they are considering settlement? If you could do that before they tie you up in a confidentiality order/agreement or it will be too late to tell us their weakness afterwards. If Swift are considering a settlement, it's only because they have a flawed defence, be nice to know what they think that is. Too many challenges get tied up with confidentiality orders or Tomlin orders after Part 36 offers and the rest of us are left wondering - don't compromise your position by posting up here of course, but if you are free to do so, it would be helpful.

Good luck anyway.

A1

[sofi3353]

Re: Swift Advance After Repo

tnx alot Di.....will keep you updated as soon as i know more

[Diana M]

Re: Swift Advance After Repo

latest update is that the hearing didn't go ahead as Swift thought it was a waste of court time and money so the matter has gone to trial with agreement from both sides.

Swift also suggested that they case be stayed for a month in order to agree to a settlement but as of yet not heard anything

This seems to be heading in the right direction considering Swift were trying to evict you from your home at the start of this thread.

I'm really please to see you fight back and get somewhere.

The tide has turned

Di