Swift Advances charges - is there anything I can do?

kareno

The final payment of my loan is due on the 12th of August, but after that there's over £1000 of charges to be paid, is there anything I can do to contest these? They're all like £18 for a phone call, £28 for a letter, stuff like that. It just seems extortionate when I've already paid a fortune in interest to them

Rafter

Only the government is allowed to 'fine' and charge penalties. Companies can make charges, but these have to be proportional to the cost of making a phone call etc.

Use one of the templates on this site to reclaim in full - you claim will be held up pending the outcome of various court cases and appeals.

Given the rulling on credit cards though, it would be very hard for them to charge more than £12 for each late payment and you should therefore get most of your charges refunded - eventually!

Good luck

R.

kareno

Thank you for your reply, Rafter. Can I do this even though I haven't paid them yet? My loan payments are meant to continue for 6 months after the loan is paid just to pay the charges.

Sprightlyone

kareno wrote: »

Thank you for your reply, Rafter. Can I do this even though I haven't paid them yet? My loan payments are meant to continue for 6 months after the loan is paid just to pay the charges.

I'd stop paying and say "sue me"

There are a number of threads on the consumeractiongroup website...search out sparkie1723 http://www.consumeractiongroup.co.uk/forum/swift-advances/153362-swift-advances-secured-loan.html he's got the bit between the teeth with Swift