Chatham/Paragon finance..Unenforceable???

Tomcat

Hi all, appologies if this has already been covered else where on the site. I have a loan with Chatham finance, I've had it since 1999. Due to being made redundant a couple of times I have serious arears on the account and now actualy owe more than when I first took the loan (unsecured) out. A couple of years ago I got a letter explaining that Paragon was taking over the loan and they sent me a new credit aggreament to sign, being as I'd already signed one I returned the aggreament unsigned. I've recently read that paragon have an amount of money set aside for loans that they know are unenforceable, with this in mind the last couple of times the loan company has contacted me to try and get a larger monthly payment out of me(they're currently getting £1 a month) I've asked them to send me a copy of my credit aggreament, this always instantly turns them around from being harrassing to being your best friend. I'm always promised one will be sent out but nothing ever arrives...

Soooo.... being as I want shut of this loan because of the shoddy way they have run it (for instance promising to stop the interest and charges but then carrying on anyway), what's the best way to proceed?, if I can get the debt written off is it possible to get back payments I've made to them??...

Thanks in advance for putting up with my winging..

jonesMUFCforever

Your chances of getting what you already paid - almost certainly nil unless this includes PPI - but if you had PPI you would have claimed when made unemployed so I guess that's a no.

Claiming the loan is unenforceable - difficult - if Paragon only took over the loan and no terms and conditions were amended the original document would still be enforceable IF they can find it.
Why not have a look at the template letters on the top of this thread and start writing.
I take it your credit files are already shot and that you are not bothered about getting fresh credit anytime soon?

Fonz_2

Are you for real? Not only do you want to wriggle out of paying what you owe, but you want the whole lot back?

These posts get better!

Tomcat

jonesMUFCforever wrote: »

Your chances of getting what you already paid - almost certainly nil unless this includes PPI - but if you had PPI you would have claimed when made unemployed so I guess that's a no.

Claiming the loan is unenforceable - difficult - if Paragon only took over the loan and no terms and conditions were amended the original document would still be enforceable IF they can find it.
Why not have a look at the template letters on the top of this thread and start writing.
I take it your credit files are already shot and that you are not bothered about getting fresh credit anytime soon?

Yes my current situation means that my credit rating is shot to hell, to be honest I'm not really interested in getting any money back, I'm just going off what someone else has told me. This company has treated me like crap for maybe the last 6-7 years, I even tried to get some sort of settlement figure out of them a while back but they said that they weren't interested in taking any offers at the moment.... I suppose what I'm really asking is... if I send one of the letters that are listed telling them that I don't think the loan is enforceable then what is the usuall list of events afterwards?, do I need to go to court?, would it involve solicitors?....

Tomcat

Fonz wrote: »

Are you for real? Not only do you want to wriggle out of paying what you owe, but you want the whole lot back?

These posts get better!

Thanks for the warm welcome, as you have no idea of my personal circumstances then how the hell are you qualified to comment on them?. Yes I'm trying to wriggle out of this loan, but only because of the way I have been treated. I have been honest and upfront with them the whole time, they on the other hand have lied through their teeth...

As for getting some money back....yes it would be nice..to be honest I'm not really that fussed, I'm only going off another case that a relative has told me about.

jonesMUFCforever

Perhaps reading a lot more posts on these boards would be much better for you than listening to a family member.