Here is an email from Funcom support I saved for myself. It was for TSW but should work for SWL also:
WARNING: DELETING PREFS FOLDER MEANS LOSING YOUR CUSTOM INVENTORY BAGS AND YOUR CUSTOM MOD SETTINGS
Greetings,
Thank you for contacting Funcom Support. This may be caused by a corrupted or invalid preferences or GUI file. To ensure this is not the case, I would like to have you reset your The Secret World preferences and reinstall the GUI straight from the server:
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Open Windows Explorer
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In the address/location bar, enter %LOCALAPPDATA%
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Navigate into Funcom\SWL (changed directory to SWL from original email)
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Rename the Prefs folder into Prefs_old
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Temporarily disable your anti-virus and go to your Secret World install folder
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Under Data is a folder called “GUI”. Please delete this
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In your Secret World install folder right click on PatcherSetup.exe and run it as an administrator.
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When that completes please run the patcher normally.
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Locate and open the options menu
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Select “Repair broken game data”
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Allow the launcher to replace/correct any needed files/information
Please let us know if you continue to have trouble after doing this.