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Swift advances

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  • DCFC79
    DCFC79 Posts: 40,635 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 31 July 2016 at 11:32PM
    jessica4 wrote: »
    Thanks boo_star, just at a glance I have never been made aware of any changes to my interest I also don't think they dealt with my difficult situation sympathetically.

    They are a lender, how would you have liked them to have dealt with it ?
  • jessica4
    jessica4 Posts: 59 Forumite
    Well sympathetically as the lending code says.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    The debt was secured against your home. A less sympathetic way of dealing with things would have been to force the sale of your home to clear the arrears rather than letting you come up with a payment plan. You say you were desperate at the time so if Swift hadn't loaned you the money what would have happened?

    It's all a bit moot anyway since the amounts involved exceed the limit of Small Claims Court.
  • Clive_Woody
    Clive_Woody Posts: 5,936 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I believe in the small claims court you are required to submit a claim for a specific amount (with justification), it isn't an opportunity to have a chat with a judge about whether or not he/she thinks the amount of interest on the loan you agreed to is fair or unfair.

    I think the small claims court route would be a waste of your money as from what you have said on here there is little chance of success. You agreed to the loan, you defaulted on the loan. They did not repossess your home which they could have done and have agreed for you to repay what you owe over a longer period.

    Your best bet might be talking to one of the free debt charities to see if they can offer any advice (try Stepchange).
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
  • jessica4
    jessica4 Posts: 59 Forumite
    Thanks for all your advice
  • DCFC79
    DCFC79 Posts: 40,635 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    To be honest with you I don't think you have a case but no harm in complaining and write to the FOS again.
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