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Paragon PPI
Olivers_Army
Posts: 6 Forumite
Hi All
Brand new poster - be gentle please???
We took out a long term loan with Paragon (big mistake I know) and were told in no uncertain terms by the rep that we wouldn't get any money unless we took out the PPI.
We took the PPI, got the loan and eventually rolled it up into our mortgage when the old mortgage deal expired. I've been in touch with Paragon about the PPI and have been told it's not their problem as they only did the arranging and weren't responsible for the actual loan. They said that it was a company who've now gone into liquidation that actually arranged the loan, and that Paragon were merely the facilitators?
Anyone had a a similar issue? Are Paragon telling the truth or just avoiding the issue? What are my chances going after the other company via the company adminstrators?
Thanks in advance for any advice!!
Brand new poster - be gentle please???
We took out a long term loan with Paragon (big mistake I know) and were told in no uncertain terms by the rep that we wouldn't get any money unless we took out the PPI.
We took the PPI, got the loan and eventually rolled it up into our mortgage when the old mortgage deal expired. I've been in touch with Paragon about the PPI and have been told it's not their problem as they only did the arranging and weren't responsible for the actual loan. They said that it was a company who've now gone into liquidation that actually arranged the loan, and that Paragon were merely the facilitators?
Anyone had a a similar issue? Are Paragon telling the truth or just avoiding the issue? What are my chances going after the other company via the company adminstrators?
Thanks in advance for any advice!!
0
Comments
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If this loan was post 14th january 2005 then you can ring FSCS and ask if you can claim compensation from the FSCS.
http://www.fscs.org.uk/contact-us/
If the loan was pre that date,you can find out from Paragon who the insurer was and put a mis sell claim into them,if they come back and say no,the FOS will help you with this.
http://www.financial-ombudsman.org.uk/contact/index.html0
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