Paragon Personal Finance - Please HELP!!!

Kevinak

I took out a secured loan from Paragon Personal Finance LTD in December 2004. We were passed to Paragon by Freedom Finance who at that time were looking for a provider for us. With the loan of £35,000 there was £10,150 of PPI as well. We were told by Freedom Finance that we had to take the PPI or the loan would not be accepted.

In 2007 we wrote to Paragon to cancel the PPI due to it being mis-sold and we were told that it was nothing to do with them but Freedom Finance as they were our broker. We then contacted Freedom Finance who then said it was not them but Bespoke Finance who actually did the PPI arrangement. When we then wrote to Bespoke Finance, surprise surprise they said that we had not been mis-sold and as they were not required to be regulated by the FSA at the time we could not take any further action.

In light of the responses we went to the Ombudsman who said that as we did our agreement a month before the new regulations that came into force in Jan 2005 and that the companies involved were not members of the GISC nothing could be done for my case and that there are no other authorities to refer us to to look a this.

What I would like help on is this:

• In light of the recent changes on PPI claiming, do I have a case?
• If the Ombudsman cannot help is there anyone else who can help?
• Who do I go after: Paragon? Freedom? Bespoke Finance?

Any help will be greatly appreciated as I am not going to give up on this, I have been unfairly treated and want my justice.

di3004

Hi there

I would contact the FOS again by ringing them, they do now suggest to try to underwriter/insurer avenue of the lender, as these would have been regulated by the FSA.
As you are aware the FOS will not take on complaints if they were not regulated by FSA prior to these GISC.

See what they have to say now on this one.
Good luck.