Swift Advances Excessive Termination Charge

petermb_2

Nice people arent they?

I am sure that we can reduce the redemption amount.
How much by depends on the issues surrounding the agreement.

Did you take out PPI with this loan?
Who was the broker you used to find the loan?

These are significant to the amount you could claim.

Chris01_2

Hi Peter,we will pay it off like you advise and take it from there.We did.nt take out PPI.I will find out the brokers details tomorrow and get back to you.What concerns me is all the paperwork and admin charges that are totally extortionate how can they possibly justify these?thank you

chippyleigh

We are in a worse predicament, our case reads as follows :-

We borrowed £23k in January 2006

Swift now wants £39,776.07 to settle !!!!!!!!!!!!!

I am slightly in arrears and am going to court this week to get a new payment plan if possible.

I was also charged nearly £6K for PPI, I have asked for a copy of the CCA to check if I even ticked the box for it, I don't normally as I am self employed and have my own insurances.

Please help !!!!!!!!!!!!!!!! an extra £16K on top of what we borrowed seems ridiculous.

Vain_2

Not sure if this is the right place to thread this am in a similar position have loan with swift advances loan was for £38,868.30 Over 300 months we got into bad arrears and have currently been to court in relation to repossesion the judge was great said we could pay £200 a months off arrears and the monthly payment,
so we have decided to sell we have buyer and i had requested a redemption figure. I have to pay back £54,367.98 which seem very excessive i know that we have £5,189.73 in arrears so i have akesd for a break down of this figure to redeem the loan So why charge £10.309.32 to redeem and other cost i assume this will be solicitors, letters admin it seems very excessive can i get this figure reduced in anyway
We are really stuck as we will be left with a shortfall of about £2.500 and i fear they will not release the house unless this is paid which we do not have any suggestions really need help with this matter

i did take out ppi and it was single cover am trying to see if i can claim refund as i feel this policy was unsuitable for our needs really need help.

Vain xxx
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keith1955

Hi all,

My £3.5 grand overcharge seems small in comparison to some peoples problems, but its a fortune to me. However, Hopefully, the following info might help some of you.

I have found, on this site somewhere, The following FREE help.

Go to this URL:- www.loancheck.org.uk

The company is called:
Protected Investments Ltd
The Old Hall
Husbands Bosworth
Leicestershire
LE17 6LZ

Phone: 01858 881000

If you follow the process correctly, you will get a page with a reference number, " Make a note of this number " You will need it.

Print off the appropriate documents and follow the procedure as requested.

This is a Bona Fide company, and DO NOT CHARGE a fee. All you have to pay is £10, which is a release fee for your confidential documents.

They can help you sort out the overcharges for not just Swift, but for many other companies as well.

This is legitamate. I am currently using them, and there are No hidden fees, or charges, or contracts.

If I can help further, please post here, or send me a personal email.

If anyone else has previous experience with this company or another that can help, please post.

I will update my progress on here , as and when I have some news.

Good Luck.

Keith :cool: