Paragon unable to uphold PPI - Help please!

[Dustyd]

Hi,

 

Wonder if someone can point me in the right direction.

 

Back in December 2004 (Paragon have quoted Feb incorrect below copy of their letter) my wife and I took out a £20k loan, and this loan had the mandatory PPI of £7k on the paperwork.

 

With news of the Plevin judgement I approached Paragon and they have said the are unable to uphold my complaint and if unsatisfied to approach the Ombudsman.

 

Is there anything I can do?

 

can I even ask for the commission rate of the PPI?

 

any help much appreciated

 

Many thanks,

Dusty

 

Our investiqation

ln the case of Plevin v Paragon Personal Finance [2014], the Supreme Court indicated that commission in some circumstances could result in an unfair relationship between the lender and the consumer, under the Consumer Credit Act 1974 (Act).

 

However, for the unfair relationship provision of the Act to apply, the Credit Agreement had to have been taken out on or after 6 April 20A7 or, for an agreement taken out before 6 April 2007 and be ongoing as at 6 April 2008.

 

As your loan was taken out on 13 February 2004 and was redeemed on 23 January 2006, your complaint is considered ineligible under the Plevin judgement.

 

Our decision.

 

Based on the above information.

I am unable to uphold your complaint.

 

Whilst I appreciate this may not be the response you had hoped for,

under the terms of our complaints procedure this is our final response.

 

You may have the right to refer your complaint to the Financial Ombudsman Service, free of charge

- but you must do so within six months of the date of this letter.

Paragon PPI letter 250118.pdf

[dx100uk]

why did you go plevin and not reclaim the ppi itself?

[Dustyd]

Don’t know and didn’t fully understand the Previn framework. Added to this it was pre regulation of Jan 2005 so don’t really know what step to take next

[dx100uk]

you should have reclaimed the ppi itself

not speculate their commission was wrong

 

https://cse.google.co.uk/cse?cx=partner-pub-0964707606882478:652l7hswbgv&ie=UTF-8&q=paragon+ppi&sa=Search+CAG#gsc.tab=0&gsc.q=paragon%20ppi&gsc.page=1

[dx100uk]

particularly https://www.consumeractiongroup.co.uk/forum/showthread.php?334947-paragon-personal-finance-PPI-back-to-the-90s-***-WON-WON-WON-***

[Dustyd]

particularly https://www.consumeractiongroup.co.uk/forum/showthread.php?334947-paragon-personal-finance-PPI-back-to-the-90s-***-WON-WON-WON-***

Thank you, so do you think a straight forward request for PPI refund is the way to go? and do you think I’ve muddied the pitch by going the Plevin route first?

[dx100uk]

Two diff things not related

[Dustyd]

Thanks I’ll try a straightford missold claim and let you know how I get on

[dx100uk]

use the FOS Customer questionnaire

not some silly speculative letter