Swift advances secured loan interest!!

redpete

jessica4 wrote: »

...I have made £18,000 in payments (this includes my normal monthly payments plus extra I have paid for charges from missed payments etc)

Some lenders charge high rates because they take on risky borrowers - like you.

The interest rate charged (APR) would have been very clear although the full amount you would be paying back would not be so clear. Not understanding the implication of a high APR is not a basis for a claim of miss-selling.

Anthony_Fritts

Drowning man catches the straw. Drowning women does the same. These loan provider companies just take this advantage. While you are in need of a loan and hardly anyone is ready to give you a loan, naturally you should not be thinking about the terms.

You have signed in their terms. Now you abide by the terms.

dealer_wins

Anthony_Fritts wrote: »

Drowning man catches the straw. Drowning women does the same. These loan provider companies just take this advantage. While you are in need of a loan and hardly anyone is ready to give you a loan, naturally you should not be thinking about the terms.

You have signed in their terms. Now you abide by the terms.

Why are you posting bollox all over this board?

Apples2

I've clicked the spam button on most of this guys posts, a spammer just warming up.

adaeze_2

Hi, I am sorry to read about your eperience with Swift. The OFT took action against them in 2011 and fined them for financial misconduct. I took a loan out for 12,000, have already repaid over 12,000 but due to monthly charges that were 'hidden' from transaction statements I now still owe 13,000! The worst part has been the underhand bullying tactics of swift though. This conatravenes the 1997 Harrassment act so there is something we can do if we unite. There are thousands of families who have been bullied and harrassed by swift. I have started a pressure group agains swift on facebook called; justice with swift.

poppasmurf_bewdley

I've lost count of the number of OP's on this forum who have willingly taken out a loan at a high interest rate, and then decided sometimes shortly afterwards, sometimes several years later, that the interest rates they are paying are far too high. They then start complaining about illegal rates, sharp practices, being sold a loan when depressed, forced into taking out the loan, etc, etc, etc.

What they mean to say is "I wish I'd never taken out this loan and I regret doing so, and I'll do anything to get out of having to repay it."

Unfortunately, like you, many mortgage payers find half way through their term that they've paid say £75k and still have £70k to pay on a £75k loan.

This is what happens when you take out loans over a long period of time. The interest becomes very high. What did you expect? Borrow £13k over 10 years and pay £3k interest in that time?

And when you start taking charges for missed payments into account, then the interest payments soon become sky high.

sistafromanothermista

poppasmurf_bewdley wrote: »

I've lost count of the number of OP's on this forum who have willingly taken out a loan at a high interest rate, and then decided sometimes shortly afterwards, sometimes several years later, that the interest rates they are paying are far too high. They then start complaining about illegal rates, sharp practices, being sold a loan when depressed, forced into taking out the loan, etc, etc, etc.

What they mean to say is "I wish I'd never taken out this loan and I regret doing so, and I'll do anything to get out of having to repay it."

Unfortunately, like you, many mortgage payers find half way through their term that they've paid say £75k and still have £70k to pay on a £75k loan.

This is what happens when you take out loans over a long period of time. The interest becomes very high. What did you expect? Borrow £13k over 10 years and pay £3k interest in that time?

And when you start taking charges for missed payments into account, then the interest payments soon become sky high.

Exactly, it makes me :mad:

I took out credit cards, ran up 16k of debt on a lifestyle i could ill afford, lived the 'high life' but now i'm older and wiser i think it was mis-sold as they must have known i was a shoe addict and couldn't help myself. Do you think i'm entitled to compensation for my grief at having to sell all my fancy shoes on ebay to pay off the debt??

adaeze_2

very ignorant input from poppasmurf.I have seen this firm charge a £1695.00 'collection charge' and a £1786.03 'collection charge' to the same account ON THE SAME DAY. I called them and asked them what these two charges were for before we prepared the court papers for our client and I was told 'you know, for being in arrears and stuff' !Thqat was not in the small print!

DCFC79

sistafromanothermista wrote: »

Exactly, it makes me :mad:

I took out credit cards, ran up 16k of debt on a lifestyle i could ill afford, lived the 'high life' but now i'm older and wiser i think it was mis-sold as they must have known i was a shoe addict and couldn't help myself. Do you think i'm entitled to compensation for my grief at having to sell all my fancy shoes on ebay to pay off the debt??

Maybe claim from the shoe Manf since they had the shoes made which enticed you to buy them

sistafromanothermista

Great idea......has anyone got a template letter?.....