Paragon Loan from 2000

[sillygirl1]

I am house moving soon and in clearing out some old paperwork found a Paragon loan from 2000, which was paid up in 2004 or thereabouts, on the front sheet it clearly states that there is

 

Optional PPI of £1,300+

 

Shall I contact the FSCS about this one as Paragon are no longer in existance.

 

This loan was not in arrears when it was paid back.

[hillards]

Paragon are still operating. We have a loan with them and they keep taking our money...

 

Paragon Personal Finance Limited

St Catherines Court

Herbert Road

Solihull

West Midlands

B91 3QE

 

0121 712 3299

[sillygirl1]

Thanks Hilliards

 

I will do a letter to them, and enclose the evidence for them, and ask for my money back! Is there a PPI calculator anywhere I can use - or should I just say I feel I should have XXXX back which would include statutory 8% interest?

 

\I would like to give them chance to be 'honest' first, and take it form there.

[hillards]

Thanks Hilliards

 

I will do a letter to them, and enclose the evidence for them, and ask for my money back! Is there a PPI calculator anywhere I can use - or should I just say I feel I should have XXXX back which would include statutory 8% interest?

 

\I would like to give them chance to be 'honest' first, and take it form there.

 

It depends on how you got your loan. We reclaimed PPI on our Paragon loan but had to go to the FSCS as we obtained the loan via a broker who is no longer trading.

 

Check your paperwork, if you got the loan via a third party then you will need to reclaim it from them, not Paragon. We had a long running argument with Paragon about this.

 

If you want to let them work it all out for you send in the FOS questionnaire - http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/guide-to-PPI-forms.html

[sillygirl1]

The paperwork indicates it was direct with Paragon and NOT through a broker (or, if it was via a broker they are now long closed down - at least that is where my research this afternoon has shown) and I have notes when Paragon kept harassing me....

 

I will fill in the FOS forms - do I send those to the FOS or Paragon or both?

[hillards]

I've had lots of hassle from Paragon - http://www.consumeractiongroup.co.uk/forum/showthread.php?387062-Paragon-secured-loan-repossession-action(1-Viewing)-nbsp

 

To make sure, a SAR to Paragon should reveal more. Paragon are well known for pleading being the innocent party and blaming these issues on brokers, who have since gone broke. Strange how it's all on Paragon headed paper, with Paragon leaflets explaining things and Paragon taking the payments...

 

You could just send the FOS questionnaire to Paragon, and be prepared for them refusing to deal with it. If you go to the FOS you've not given the original lender, broker or otherwise, the opportunity to sort it out. And, if you do go to the FOS, it will take months for them to deal with it.

[sillygirl1]

Thanks for your link, I will follow with interest. The letter is on Paragon paper and is with the address you provided, so there is no wriggling out there - it is positive proof that they handleld the consolidation payments too - which is more evidence that the loan was missold.

 

At the time I was working full time, (and have payslips to prove it) and stayed with the employer for a further 5 1/2 years, so again I think I have them there.

 

Will keep this thread updated as I get more evidence. Once I move (will be 12th-15th May) I will harass them as they once harrassed me.

[hillards]

I've loads of paperwork from Paragon, on their headed paper. Did not stop them blaming it all on the broker and forcing us to use FSCS, thereby losing 10% of the claim as FSCS only pay 90%.

 

I'll be following your progress...

[sillygirl1]

I've been discussing this issue with a friend in the finance market and their opinion is that it is going to be a long job - something which I am not prepared to take on at the moment - nor let anyone else take on and take 10%.

 

As my loan has finished and there are no arrears then it is possible that Paragon will have 'lost' all the information, and I would have to SAR, despite the fact that I have the proof - also it is possible Paragon would 'inform' other parties that I am claiming and a whole can of worms would be opened up.... so I think this is a case of 'let sleeping PPI lie' until I actually have the time to deal with things.

 

However, if things change in a few months I will then go chasing them.