paragon finance

rd1891

hi i wonder if any one has been successful in claiming back ppi from paragon finance.i borrowed 40,000 in sept 2003 and paid it off in sept 2006 only to realise i paid a single premuim of 6,800 this made the overall loan 46,800.does anyone think i stand a chance of getting any money back.

di3004

rd1891 wrote: »

hi i wonder if any one has been successful in claiming back ppi from paragon finance.i borrowed 40,000 in sept 2003 and paid it off in sept 2006 only to realise i paid a single premuim of 6,800 this made the overall loan 46,800.does anyone think i stand a chance of getting any money back.

Hi and welcome.;)

Was it actually Paragon that sold you the loan?

I would check the above success thread out as well, its a long thread, hopefully someone may have had dealings and success with them.

I would give it a go with the reasons you have for being mis sold, they have 8 weeks in full to respond and post letters by recorded delivery for your proof of posting.

Here is the link below to the guidelines of reclaiming, you will find template letters to help you through this and also check out the checklist of mis selling reasons, if any of them applies to you then also write them in your letter, you do not need to write the amounts in though, but if successful they should supply you with the breakdown of the calculations.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

However, if you were not successful I am not certain if Paragon were governed by the GISC when you taken out the loan, where the FSA taken over in Jan 2005, the Financial ombudsman are not normally able to investigate these complaints on your behalf if they were not covered by these regulators.

I would see what decision Paragon gives you and wait for a final decision, as some give you the opportunity to write back to them with further information if they do not resolve in the first letter.

However, there are other avenues you can try if this fails, find out who the Underwriter/insurer was, as the FOS are also trying to make these responsible as well, with the same procedures as above with the reclaiming, write to the insurer/underwriter, as they would have been protected by any of these regulators, if they do no uphold in your favour then the FOS will or should be able to investigate this for you.

Good luck with this, please keep us posted and ask for help anytime.;)

rd1891

thank you or that di3004, after further phone calls i found out loans.co.uk were who i first contacted about a loan.so who do i write to about claiming back ppi paragon finance or loans .co.uk

di3004

rd1891 wrote: »

thank you or that di3004, after further phone calls i found out loans.co.uk were who i first contacted about a loan.so who do i write to about claiming back ppi paragon finance or loans .co.uk

Your very welcome.;)

It will be Loans.co.uk then you write to.

Good luck with this, please keep us posted, cheers. X