Have I a case with Paragon?

toytown2

Afternoon all,

Been looking through this website for the last few days, im hoping that someone may be able to give me some advice

Here is the story....

Ok, so got a secured loan in Feb 06 through Paragon Personal Finance, through freedom finace! loan amount £11,000 lenght of time 108 months PPI £3190 period of cover 60 months total to be repaid £14,190

Was told at the time of taking out loan that after 3 years of paying with no claims on the PPI i would get full refund of the PPI! I thought great sounds good. Called back about a year or so later and told no it would be after 5 years. Thought ok still not so bad. I called at the end of the month and was told i would get it back after 9 years. But the PPI was taken out through Freedom and not them and to call them. So i did and was told NO they where not doing insurance then and it would be Paragon. Called Pargaon again today and was told the same again that it would not of been taken out through them and because my loan was less than 10 years i was not entitled to get anything back from my PPI! I have all my paperwork from them, however the lovely lady from paragon said that because i dont have anything in writting about the cashback then well tough!

I am unsure if i do have a case against them, I would never of taken it out if i had known it would only last 5yrs!

Any advice would be great

Thanks

Ally

di3004

toytown2 wrote: »

Afternoon all,

Been looking through this website for the last few days, im hoping that someone may be able to give me some advice

Here is the story....

Ok, so got a secured loan in Feb 06 through Paragon Personal Finance, through freedom finace! loan amount £11,000 lenght of time 108 months PPI £3190 period of cover 60 months total to be repaid £14,190

Was told at the time of taking out loan that after 3 years of paying with no claims on the PPI i would get full refund of the PPI! I thought great sounds good. Called back about a year or so later and told no it would be after 5 years. Thought ok still not so bad. I called at the end of the month and was told i would get it back after 9 years. But the PPI was taken out through Freedom and not them and to call them. So i did and was told NO they where not doing insurance then and it would be Paragon. Called Pargaon again today and was told the same again that it would not of been taken out through them and because my loan was less than 10 years i was not entitled to get anything back from my PPI! I have all my paperwork from them, however the lovely lady from paragon said that because i dont have anything in writting about the cashback then well tough!

I am unsure if i do have a case against them, I would never of taken it out if i had known it would only last 5yrs!

Any advice would be great

Thanks

Ally

Hi Ally

And in my opinion, yes you do have a case, and yes its the ones who arranged this for you that you complain to, do always keep to writing so you have something to go by in case you want to take this to the financial ombudman service (FOS) later on, especially if they do not resolve this in your favour.

Other than this claim back issue do you also think you were mis sold the policy of PPI? even though that is one of the reasons and they have given you mis leading advice, and passed you from pillar to post.

On your agreement (CCA) this should disclose any information on the PPI policy and the terms and conds.
If you no longer have the agreement, write to the broker "FF", enclose a small payment of £1 postal order or cheque payment for this request, they should supply by 12 days, post by recorded delivery.

For reclaiming, check this link here for more information and for templates:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Use the templates to help you through this but write your own reasons.

They have 8 weeks to respond in full.

If they do not resolve this first time round, they may give you the opportunity to write back in order for them to reconsider.

In the final response they should give details of the FOS.

Again post all letters by recorded delivery.

Going back to paperwork for your policy, you could actually request for a Subject access request (SAR), they have 40 days to comply and send you the information requested on your account on the template letter below, but there is charge of £10 postal order or cheque payment for this.
Link here to template of SAR:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

If you do not have the account number handy when requesting for either the CCA agreement of the SAR, write down as many personal details as possible, such as your DOB, if the address was different then when you taken out the policy and any different surname, in order for them to track this down.

Good luck and please post for help when required.;)

toytown2

Hi there and thank you for your reply

I do have a "5 year certificate of insurance"

Also at the time had no idea it only lasted 5 years and loan was for 9years.

Im sure at the time i was put under the impression you had to take out the PPI as it was a secured loan??

I have done the letter adding in about the missleading info regarding the cash back

Not sure if I have worded it right tho!

Thanks again

di3004

toytown2 wrote: »

Hi there and thank you for your reply

I do have a "5 year certificate of insurance"

Also at the time had no idea it only lasted 5 years and loan was for 9years.

Im sure at the time i was put under the impression you had to take out the PPI as it was a secured loan??

I have done the letter adding in about the missleading info regarding the cash back

Not sure if I have worded it right tho!

Thanks again

Hi there

Good luck with this and keep on at them, if they don't resolve this is in your favour by the final response, you can move this on to the FOS.

These type of policies are looked dimly upon, so you have a good chance here, fingers crossed and please keep us posted.;)

toytown2

Afternoon,

Well just had a call from Paragon oh and a letter!! I have just done a 10 hour shift that started at 4am so was not in the best of moods when they called!

Anyway he was calling to confirm the PPI was not from them and no i was not getting a cash back!! blaa blaa blaa. It was funny cause i managed to get him all in a muddle. Was told that my PPI was not through them and if i have any issues then i need to take it up with Freedom finance as they are the brooker and would of arranged everything through them and would not of talked to paragon at all! Also told me my PPI was through Norwich union asked him if they had paid penny's for the ppi and yet charge me thousands? Funny he never replied to that!

Also asked him why all my paper work including the ppi certificate has Paragon all over it, No mention of freedom or even norwich union. They have a answer for everything, so they do!

He was reading through my notes and got really cockie saying oh yes you called about a declined further advance of money (or something) I told him to reread the info and see it was a declined deeds of prosponement due to the fact they valued my house at half the value! He said well i cant comment as i dont work in that department. I informed him that maybe he should might give him idea of what he is talking about! Honestly!!

And to top it all of I have not even sent my 1st letter to them yet! Printer issues. He mentioned SAR's and said if i want further info it will cost £10 and will take 8weeks plus told him i have plenty of time to wait....i wont be going anywhere.

He ended the call by hanging up on me, telling me this call is going no where. There customer service is dreadful.

Im going to send them a SAR's but do i send it to Freedom or Paragon?

Paragon says i need to send it to Freedom and freedom say to send it to paragon

marshallka

toytown2 wrote: »

Afternoon,

Well just had a call from Paragon oh and a letter!! I have just done a 10 hour shift that started at 4am so was not in the best of moods when they called!

Anyway he was calling to confirm the PPI was not from them and no i was not getting a cash back!! blaa blaa blaa. It was funny cause i managed to get him all in a muddle. Was told that my PPI was not through them and if i have any issues then i need to take it up with Freedom finance as they are the brooker and would of arranged everything through them and would not of talked to paragon at all! Also told me my PPI was through Norwich union asked him if they had paid penny's for the ppi and yet charge me thousands? Funny he never replied to that!

Also asked him why all my paper work including the ppi certificate has Paragon all over it, No mention of freedom or even norwich union. They have a answer for everything, so they do!

He was reading through my notes and got really cockie saying oh yes you called about a declined further advance of money (or something) I told him to reread the info and see it was a declined deeds of prosponement due to the fact they valued my house at half the value! He said well i cant comment as i dont work in that department. I informed him that maybe he should might give him idea of what he is talking about! Honestly!!

And to top it all of I have not even sent my 1st letter to them yet! Printer issues. He mentioned SAR's and said if i want further info it will cost £10 and will take 8weeks plus told him i have plenty of time to wait....i wont be going anywhere.

He ended the call by hanging up on me, telling me this call is going no where. There customer service is dreadful.

Im going to send them a SAR's but do i send it to Freedom or Paragon?

Paragon says i need to send it to Freedom and freedom say to send it to paragon

You would need to go to Freedom if they sold the PPI and they should know that too. I would send your letter off to freedom and give them 8 weeks to resolve the issues (unless paragon have already got the ball moving and forwarded your complaint on as they should have done). Also send this by recorded delivery as you have a proof. If they do not play ball you are then free to go to the FOS as this is well within the jurisdiction as this was sold to you in 2006. You will win I would think too.

When sending your letter to Freedom, make it your own in your own words and also with your own reasons. The companies tend to take it more serious when you do.

Post back if you need anything else and Good luck.

pammyj74

I am about to start my case with paragon but looking at my paperwork, in small writing it does state that the insurance is optional?

Also I had two loans with them each with PPI running along side each other and then a year later condensed loans and credit cards to get a longer term and easier payments and so another chunk of PPI.
Do I just claim for the last one or the payments made on all three?
Its all a muddle to me and I know they will try and catch me out as I have no clue what I am doing

melorablack

Claim for each one separately.

di3004

pammyj74 wrote: »

I am about to start my case with paragon but looking at my paperwork, in small writing it does state that the insurance is optional?

Also I had two loans with them each with PPI running along side each other and then a year later condensed loans and credit cards to get a longer term and easier payments and so another chunk of PPI.
Do I just claim for the last one or the payments made on all three?
Its all a muddle to me and I know they will try and catch me out as I have no clue what I am doing

Hi there

I would go for them all, if PPI were sold on all of them and mis sold for any reason.;)

As you have no paperwork, you could actually write to ask if they are able to supply you with any calculations of any of them, this way if you taken out another loan after you should be able to see how they worked this out in reducing the ppi off the first loan to the other and take it from there.

It would help to have the calculations for these, if there are multiple ones.

An SAR may be useful, are any of these taken out within the last 5 or 6 years?

di3004

Here below is the link to a Subject access request known as a SAR, here they should comply by 40 days and send you all the information requested for on the SAR if you have these on any of your accounts.
http://forums.moneysavingexpert.com/showthread.html?t=1475553

If say you had a few loans with the same company they should hold all the information on them.

There is a charge of £10 payable by cheque or postal order, post by recorded delivery, give us a yell for help on the PPI, I shall add the details of PPI reclaiming in the post below anyway.;)

pammyj74

Is it a case of being mis sold when it says it is an optional payment?

One was taken out in 03, then 04 and condensed in 05.
PPI on 1st one £1800 then £2250 and then £9086, this last one says interest on that is £11356.00!! I cant believe that, its dreadful!!
Whats SAR?