Loans.co.uk

Tarina

Hi everyone,
Im looking for some information and advice really, my husband and i took out a secured loan with Paragon through a company called LOANS.CO.UK and it appears we were missold PPI but when we contacted Paragon who the loan is with we were told its not their problem as we arranged the loan through the broker who now seem to have vanished is there anything we can do about this???
Thanks for any information you can throw at us
Tarina

[Deleted User]

why does it now appear that the PPI was mis-sold?
anything to do with all the publicity mis-selling has been give yet again this week <yawn>

Rafter

Tarina,

I think Paragon might be trying their luck here. If they are collecting the premiums (and profiting from your PPI policy) they have some responsibility for the misselling.

If at any time Loans.co.uk implied you stood more chance of getting the loan if you accepted the PPI or failed to point our restrictions because you were self employed or had a pre-existing medical condition, then you should pursue your claim with Paragon.

Good luck

R.

little_oak

Rafter wrote: »

Tarina,

I think Paragon might be trying their luck here. If they are collecting the premiums (and profiting from your PPI policy) they have some responsibility for the misselling.

If at any time Loans.co.uk implied you stood more chance of getting the loan if you accepted the PPI or failed to point our restrictions because you were self employed or had a pre-existing medical condition, then you should pursue your claim with Paragon.

Good luck

R.

I have had a similar reply from Paragon last year. In my case they have added the PPI as a lump sum on to the loan and then calculated interest on that sum to give an ammount owed. they then divided the ammount over the term. They have also said if i cancel the insurance (didn't need it in first place and was told it was compulsory by loans.co.uk) as it was parto the loan i still owe the money. Trying to work out wher to go with this one seems PPI and additional interest is owed. Thoughts anyone?