freedom finance/paragon ppi claim

the_poker_player

Hi to you all, I took out a loan with Paragon in February 2003 and settled it in full in February 2004, I don't have the paperwork but have looked up the adress as in the West Midlands, could I trouble you as to let me know if this is correct please? I am not sure if i would be able to claim but the loan was for £40,000 and I settled £48,000 so would like to try. Thanks

di3004

the_poker_player wrote: »

Hi to you all, I took out a loan with Paragon in February 2003 and settled it in full in February 2004, I don't have the paperwork but have looked up the adress as in the West Midlands, could I trouble you as to let me know if this is correct please? I am not sure if i would be able to claim but the loan was for £40,000 and I settled £48,000 so would like to try. Thanks

Hi there

If you were mis sold the ppi then I would most certainly give it a go.;)
Just as long as you have the account number of the loan that is fine.

Follow the procedures below link - complete FOS questionnaire, save a copy and send to whoever set up and sold you the policy.
The questionnaire, you will find further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
They have 8 weeks to give you a decision, good luck.;)


I take it this is the address here, this also encloses the company number.

Name & Registered Office:
PARAGON FINANCE PLC
ST CATHERINE'S COURT, HERBERT
ROAD, SOLIHULL
WEST MIDLANDS
B91 3QE
Company No. 01917566

luckyc_2

another update...

i got a letter from fos dated 9th august from the adjudicator saying they wrote to freedom (wilmslow finance as its now known) on 23rd july and explained their reasons for upholding my complaint. as wilmslow replied to them on the 9th august and did not agree with adjudicators view the complaint will be referred to one of the ombudsman for a final decision.
the ombudsman will now review the entire file and take into account all the comments and information that have been provided during the course of the investigation. the ombudsman will reach their own conclusion which may be different to the adjudicators.
they also sent information that will calculatecompensation in complaints about the mis sale of single premium ppi.
i have until 30th august to send any more information to the ombudsman if i feel its necessary.

so one way or the other this will hopefully be settled soon.

marshallka

I have not seen a time on here where the Ombudsman has not agreed with the adjudicator so you will just have to look at it as more compensation for stress and inconvenience and also more statutory interest.

luckyc_2

well i was thinking that the ombudsman would not disagree with adjudicator and with them sending the info about compensation for single premium and upholding the case it was just freedom finance trying to pay less than they should and holding out.
i got my fingers crossed.

marshallka

luckyc wrote: »

well i was thinking that the ombudsman would not disagree with adjudicator and with them sending the info about compensation for single premium and upholding the case it was just freedom finance trying to pay less than they should and holding out.
i got my fingers crossed.

Yeah some firms do have a "strange" way of making redress's don't they. I will guarantee that Freedom have it wrong as I have seen on another site how they work them out and they are "not" the way of putting you back into the position as if you never had the insurance.

Good luck

di3004

Hi

You will be okay Luckyc.

As Marshallka also said, mostly whatever decision is made by the adjudicator, the ombudsman normally makes the same decision, and to what I know of, because its gone this far, you will possibly receive further redress for the distress and inconvenience this have caused.
Good luck.;)

luckyc_2

Wow almost a year since my last post on here!
Unfortunately still no light at end of tunnel though.
Found out that freedom, now wilmslow, finance went into administration a few weeks back and fscs are now handling all ppi complaints.
Rang the FOS a week back to ask what happens now with my claim and was told that they are bundling all the complaints for freedom/wilmslow together and passing them to fscs to deal with.
Ive not been told how long all this will take and how long til i see (if any) ppi refund.
Fscs say they will pay up to 90% of claims with no upper limit.
Does anyone know what they meant by that and if that would include interest?
My case was already upheld last year by ombudsman adjudicator but freedom wanted it to the Ombudsman themself. Looking at that move now by freedom they knew they were skint and played for time.
I wouldnt have minded the wait at the time but i lost my job in March and now with bills etc the money would have come in handy. Id already been bumped up the queue twice by ombudsman because of financial hardship.
Its now like starting all over with the complaint again.

di3004

luckyc wrote: »

Wow almost a year since my last post on here!
Unfortunately still no light at end of tunnel though.
Found out that freedom, now wilmslow, finance went into administration a few weeks back and fscs are now handling all ppi complaints.
Rang the FOS a week back to ask what happens now with my claim and was told that they are bundling all the complaints for freedom/wilmslow together and passing them to fscs to deal with.
Ive not been told how long all this will take and how long til i see (if any) ppi refund.
Fscs say they will pay up to 90% of claims with no upper limit.
Does anyone know what they meant by that and if that would include interest?
My case was already upheld last year by ombudsman adjudicator but freedom wanted it to the Ombudsman themself. Looking at that move now by freedom they knew they were skint and played for time.
I wouldnt have minded the wait at the time but i lost my job in March and now with bills etc the money would have come in handy. Id already been bumped up the queue twice by ombudsman because of financial hardship.
Its now like starting all over with the complaint again.

Hiya

Hope your well, its nice to see you back and good luck on your reclaiming.
I think there maybe info on the FSCS website that should explain in detail about the interest, there is also a thread (a rather long one lol) of companies in default - FSCS on here I posted some time ago as well.
Hope your not waiting too long now, fingers crossed.;)
http://www.fscs.org.uk/what-we-cover/eligibility-rules/compensation-limits/insurance-limits/

https://forums.moneysavingexpert.com/discussion/1897143

luckyc_2

Well i got a letter from FOS this morning saying they can do no more for me as freedom/wilmslow have gone into administration. So they will be passing my file to the FSCS on 2nd August.
So now i dont know what will happen? Would the fscs have to go thru it all again or will they take the FOS advice and payout? And any idea. How long it will take?
Im getting fed up now as this has hung over me for so long now. And as im still out of work with bills backing up it really would help!