another question - Paragon secured loan and PPI

Plain_Stupid_45

Another question :

I wrote to Paragon where I have had 2 secured loans (I have since paid them off), I said that I felt I had been misold PPI with both of these loans, I can't even remember having a discussion about it with anyone.

I've had a reply saying, for the first one, that as I went through a broker (Smart Loans) they were not party to my conversation with smart loans so I need to take it up with them, yet I paid the insurance through Paragon - can I do any more there? or do I contact Smart Loans, not even sure if theyre still going!

For the second loan, the reply has been - " As your policy was taken out in 2003 it falls within a non regulated environment, Unfortunately this means that the concept of an advised sale did not existg and such problems were offered on an information only basis, i.e. the customer would be offered the product and would make the decision whether to take it or not

When you applied for the loan, the information relating to the insurance would have been provided in written form. There was no regulatory requirement to verbally discuss the details of the insurance at that time. The final decision on whether to take the insurance or not would have been yours. We would stress that the insurance was not a condition of the loan."

It then goes on to say, they hope that explains it. Thank you.....

Can anyone offer any help or should I just leave it there?

Thanks ever so much, everyone is so knowledgable here,

:j

natweststaffmember

I would repost this on the PPI part of the forum