Unknown Interest Charged - Paragon finance

[pezman65]

Hi Guys,

 

had a loan off Paragon finance in 1998 for £5000,

paid it regularly untill my heart condition developed and put me in hospital for several months,

had to pack up my well paid managers job and take a lower income job.

 

Negotiated via debt advisors to pay a reduced amount,

I was told over the phone that interest had been frozen.

 

This lower payment continued untill 2009 when Paragon wrote to me for the first time to say interest had been added since the inception of the loan

and I now owed them £22,345 instead of what I thought which was £1800.

 

Just wondered what your thoughts were on this, I am now on a pension and this amount is just unpayable,

 

any advice will be very much appreciated.

[PGH7447]

welcome to the CAG,

 

for starters was there any PPI on this loan?, if yes then why did it not kick in? - first thig to do is send off a sar request to these parasites and demand the agreement and all statements and any other info they hold on you, inclding the telephone transcripts from this period

[pezman65]

welcome to the CAG,

 

for starters was there any PPI on this loan?, if yes then why did it not kick in? - first thig to do is send off a sar request to these parasites and demand the agreement and all statements and any other info they hold on you, inclding the telephone transcripts from this period

 

I have sent for the CCA and I think they have cobbled something together as they sent me an agreement that was very poor quality

with bits on it that were wrong such as me being single,

no info on my employment at that time

and my wifes signature but no other info on her in the contract,

 

also the signatures were not on the line nor was the date and I am always very particular where I sign,

think its a very poor photocopy they have made up.

 

Cheers Pez

[PGH7447]

can you post it up, removing any identifying info, also I would now send the account in dispute letter stating that the agreement is incorrect and until such time as a valid agreement complete with all info is recieved no further communication will take place, by letter of course, never phone them

[pezman65]

can you post it up, removing any identifying info, also I would now send the account in dispute letter stating that the agreement is incorrect and until such time as a valid agreement complete with all info is recieved no further communication will take place, by letter of course, never phone them

 

OK will do thanks

[bigshoes...bigsocks]

This lower payment continued untill 2009 when Paragon wrote to me for the first time to say interest had been added since the inception of the loan

and I now owed them £22,345 instead of what I thought which was £1800.

 

This must be a typo... Do you mean £2,345?

 

If not then that interest rate must match Wonga's and QuickQuid's...?

[pezman65]

This must be a typo... Do you mean £2,345?

 

If not then that interest rate must match Wonga's and QuickQuid's...?

 

No, not a typo,

the debt was from the year 2000 when I went into hospital,

I believed the interest had been frozen and my reduced payment was bringing the debt down as it did with my other creditors,

I never missed a payment to anyone,

 

Paragon let the debt build up for 8yrs with no correspondence at all untill the change in the CCA 74 in 2008

when they had to notify debtors of the situation on a yearly basis,

they then wrote to me to inform me I owed them £22,345.

[pezman65]

Hi Guys, think I got it right this time.

 

As you can see there are some issues with this,

the date and signatures dont look right

they are way above the signing line,

also I was married not single,

 

why are there no employment details and why is my wifes siganature on there when there are no details of her in ther form.

 

the form has bits missing from the bottom and the top,

 

there was a conditions sheet that came with it that also has bits missing from the scan.

 

let me know what you think, many thanks Pez

 

 

[ATTACH=CONFIG]38438[/ATTACH]

[dx100uk]

urm........

 

roughly, in total how much have you paid back?

 

dx

[pezman65]

urm........

 

roughly, in total how much have you paid back?

 

dx

 

I have paid back £3141.84p, given they told me interest was frozed that should leave £1858.16 left to pay not £22,345. 00p as they are now demanding, Thanks Pez

[dx100uk]

well as a matter of urgency you need to SAR them.

 

who were the 'debt advisors?

 

any paperwork relating to their work?

 

dx

[pezman65]

well as a matter of urgency you need to SAR them.

 

who were the 'debt advisors?

 

any paperwork relating to their work?

 

dx

 

Have sent that off this morning, cheers Pez

[sillygirl1]

If as you say there was no correspondence for 8 years, was any payment made by you in this period? If no payment was made then it is statute barred and they are chancing their arm.

[pezman65]

Hi, unfortunately I continued to pay the reduced amount for the whole of the 8 yrs thinking I was reducing my debt,

only to find it had been increasing every month by £100+

 

they never told me of this or informed me of how the account was increasing until the change in the law when they have to notify debtors every year.

 

This is so wrong and unfair, I really believe it was a deliberate action as this has been done to several people whoi are in a vulnerable position such as I. Cheers Pez

[pezman65]

Hi Guys, Received letter from Paragon stating they have fulfilled their obligation by sending me the cobbled together CCA and state they want their money, have added charges for letter and phone calls. Not sure what to do next, cheers Pez

[sillygirl1]

Tell them that you are unable to comply with their request for money as you have none and they are not going to get any.

[dx100uk]

await the sar

 

dx

[PGH7447]

write back and state the SAR request is still outstanding and until such time that they comply they can go jump, also add costs for time and materials that equals their charges

 

also add that you wish to raise an official complaint against them for attempting to carry on collection activites while this debt is in dispute