Repossession threat from Swift Advances

[rockstar666]

Hi, I have come here because need some advice.

Swift Advances are now at the stage where i have 5 days to come up with some plan how to pay my 7k arrears and monthly payment to them or they will instruct their solicitors to progress with a repossession summons.

I have offered them a payment per month that i can afford, however they seem to have rejected this, i had struggled to pay them for over 4 years, due to losing my job and being unemployed, but i managed to get off unemployment and have a now been employed for a year, i have worked out payments with my first mortgage lender norwich and peterborough, and am paying a small amount of 10 quid a month on top of their monthly payment towards my arrears. The rest of my monthly salary is eaten up by living costs, you know gas, electric, water blah blah blah, and all i have over is enough to feed myself and keep the car in petrol so i can get to work (i live 35 miles away from where i work, and there is no public transport to the place). I have my house up for sale to try and sell myself to get both my first lender and Swift off my back, however as we all know the housing market is in free fall, and my house is only a 2 bed starter home, so that doesnt help. I have sent Swift back there expenditure form, bank statements, wage slips, utitlity bills, and an offer of payment, which is below my monthly payment, but all i can afford, and this all seems to be ignored. They have increased my arrears with consistantly adding 64 quid a month unpaid monthly fee, and just recently added another 16 quid for solicitors fees. These fees alone must add up to over 2k over the last 4 years. I went to CAB for advice, they were astonished that Swift have let my arrears go on for so long.... so, Im not sure what else I can do now, I have to get back to them with my response, within 5 days..... what else can i do? Has anyone else dealt with these people? This was a secured loan, not a mortgage.


Read more at: Swift Advances - Legal Beagles Consumer Forum

[mr.ton]

Re: Repossession threat from Swift Advances

Have they been to court?
If they haven't then they have no legal power to do anything quite frankly and this will all just be threats designed to frighten you.
I would certainly look into questioning the legality of their added charges & as well as that, consider reporting Swift to all the relevant official authorities.
At the end of the day you are in charge of your own money, not them - so tough on them if they refuse what you have offered them even after you have sent them proof of your i & e.
A court would not look too favorably on their conduct there.
Do not let them bully you.
Get back to them when you need to and stand your ground with your offer - if they refuse again, then stay off the phone to them, keep everything in writing only and get all the various official authorities involved (The CAB don't know their ar*e from elbow quite frankly) so i wouldn't bother with them anymore in all honesty.

[charitynjw]

Re: Repossession threat from Swift Advances

Hi rockstar,

There's a bit of info re DMPs, etc on another current thread

http://www.legalbeagles.info/forums/...ad.php?t=31474

[rockstar666]

Re: Repossession threat from Swift Advances

Thanks for the reply. I never talk to them on the phone, every time i contacted them i emailed, legal@swift.co.uk.... so have a string of emails that i have sent, which are my proof of trying to sort something out with them.. They have been threatening me for over a year now with repossession.. I was thinking that I should let my mortgage company know what they are trying to do, as they would be affected by a repossession, there is no equity in the house, so on sale, i would still end up owing Swift money, I need to email them back with a reply, (they never email me, only send me letters, as i refuse to speak to them on the phone).

Im just surprised that I sent them all the info again (seems i need to fill out an income and expenditure form every month) but they dont seem to understand, i cannot do anything other than offer what i can afford.

They have sent me a full statement of payments/non payments since 2007, but have not supplied a statement of fees applied since 2007 which i asked for. Do i need a SAR for this? if so, where do i find this form.

Thanks

[Judge mental]

Re: Repossession threat from Swift Advances

Hi Rockstar666

You might want to consider making the offer again but this time using the provisions of Part 36 of the Civil Procedure Rules.

An offer under Part 36 must contain certain information but has the effect of 'encouraging' a claimant into accepting an agreement as opposed to pursuing court action. If a claimant does not accept the offer, and fail to get a better settlement in court then you are not liable for any of their costs in bringing the court action and they will be liable to pay your full costs.

As part of the offer, you have to accept that if they do get a better settlement in court you accept liability for their costs, but you would have been liable for them anyway.

I also suggest if you are going to dispute the charges, that you send a separate letter putting the account in dispute as the charges do not reflect actual administration costs in dealing with the dispute, also request a statement of charges and a breakdown of the individual components which form each charge.

Below is an example of a Part 36 Offer -

Just as in a formal letter, the top should include your name and address, their name and address and the date.

Account number xxxxxxx
Part 36 Offer

This offer is made in accordance with Part 36 of the Civil Procedure Rules and is intended to have the consequences of Section 1 of Part 36.

I offer to pay a minimum of £xxx per month which is in relation solely to my liabilities under agreement number xxx.

If the offer is accepted before [insert date 28 days after date of letter], it being the relevant period, I accept I will be liable for the claimants costs in accordance with Rule 36.10

This offer is in relation to my liability for the monthly payments due, interest and arrears on the loan, [only include this part if you are going to dispute the charges - it does not include any amount added to the account in the form of costs, penalties or charges unless the claimant proves the amount is no more than the additional administration costs incurred by the claimant in dealing with any default, or are the actual costs incurred if the charge is in relation to a service provided by a third party in dealing with the default.

In the event that [lenders name] issues proceedings in a county court I will issue a counterclaim for any amount that exceeds the actual costs.]

Signed .............................. Date ...........




Regards

Stuart

[Guest]

Re: Repossession threat from Swift Advances

Hi

Sorry to hear about your problems, can i ask,
Is this a regulated loan uner the CCA?
Do you have any equity in your home?
YOu said you went to CAB what was their advice?

Peter

[charitynjw]

Re: Repossession threat from Swift Advances

Hi Rockstar666

You might want to consider making the offer again but this time using the provisions of Part 36 of the Civil Procedure Rules.

An offer under Part 36 must contain certain information but has the effect of 'encouraging' a claimant into accepting an agreement as opposed to pursuing court action. If a claimant does not accept the offer, and fail to get a better settlement in court then you are not liable for any of their costs in bringing the court action and they will be liable to pay your full costs.

As part of the offer, you have to accept that if they do get a better settlement in court you accept liability for their costs, but you would have been liable for them anyway.

I also suggest if you are going to dispute the charges, that you send a separate letter putting the account in dispute as the charges do not reflect actual administration costs in dealing with the dispute, also request a statement of charges and a breakdown of the individual components which form each charge.

Below is an example of a Part 36 Offer -

Just as in a formal letter, the top should include your name and address, their name and address and the date.

Account number xxxxxxx
Part 36 Offer

This offer is made in accordance with Part 36 of the Civil Procedure Rules and is intended to have the consequences of Section 1 of Part 36.

I offer to pay a minimum of £xxx per month which is in relation solely to my liabilities under agreement number xxx.

If the offer is accepted before [insert date 28 days after date of letter], it being the relevant period, I accept I will be liable for the claimants costs in accordance with Rule 36.10

This offer is in relation to my liability for the monthly payments due, interest and arrears on the loan, [only include this part if you are going to dispute the charges - it does not include any amount added to the account in the form of costs, penalties or charges unless the claimant proves the amount is no more than the additional administration costs incurred by the claimant in dealing with any default, or are the actual costs incurred if the charge is in relation to a service provided by a third party in dealing with the default.

In the event that [lenders name] issues proceedings in a county court I will issue a counterclaim for any amount that exceeds the actual costs.]

Signed .............................. Date ...........




Regards

Stuart

The Court of Appeal has, in C v D [2011] All ER (D) 287 (May), reversed an earlier ruling of the Chancery Court regarding 'time-limited' Part 36 offers.
As long as the offer makes reference to CPR Part 36, & particularly the 'relevant period' for the offer (21 days), it will be accepted as a valid Part 36 offer.
A Part 36 offer can't be withdrawn during this period, & afterwards must be formally withdrawn if so required.
Fox v Foundation Piling Ltd [2011] EWCA Civ 790, & a new CPR rule 36.14 (1A) effective from 1 October 2011 clarify the position regarding the meaning of 'advantageous'.

http://www.justice.gov.uk/guidance/c...6.htm#IDAUN1HC

[rockstar666]

Re: Repossession threat from Swift Advances

Hi

Sorry to hear about your problems, can i ask,
Is this a regulated loan uner the CCA?
Do you have any equity in your home?
YOu said you went to CAB what was their advice?

Peter

I dont know about the CCA? I took the loan out in 2007.
No equity in the home, I would need at least £110k and thats just to pay off the mortgage lender, and Swift, let alone solicitors fees, estate agent fees etc.
CAB said, declare yourself bankrupt! and was astonished that Swift had let the arrears build up as much as they had. They were not any use at all.

[labman]

Re: Repossession threat from Swift Advances

I realise that time is not at all on your side. I am also aware unfortunately, that my knowledge of court procedures is slight and you need someone with much more experience. I can however try to offer some help.

Is it possible to post up a scan of your original agreement from 2007 with all personal details omitted? Also a brief history of what your monthly payments should be, what you have paid, what you have offered and how they have responded.

The more detail we can get on this, the more we can help and the faster we can do so.