Court Action - Paragon Personal Finance

KevC_3

Hi Can anyone help - offer advice

i originally took out a lone in 1999 for £10,000 with Paragon shortly after i became umemployed and repayments were reduced to £20 per month and we were told that the interest would be frozen. We continued to pay £20 for a period of 5 years without missing a payment at which time Paragon got in touch saying we now owed them some "£23,000 and as such wanted all outstanding monies. We were then served a default notice for the full amount. I immediately contacted the CAB and with there assitant guidance placed a counter defence of the Consumer Credit Agreement was unenforceable. we are some 2 years later down the line with court action with the CAB refusing help and the creditor now claiming approx £45,000 this is made up of legal costs, interest and loan fees. Paragon are persuing summary jugdement against me and i can not afford a solicitor or barrister to fight the case as a legal precident has never been set. I now stand between a rock and hard place as bully boy tatic used by Paragon seem to be winning the day. Any advise or assitance would be most welcome

lilyelsie

I am having similar problems with Paragon. Been paying just under £100 a month for several nears (reduced payment under a CCJ). Asked them to let me know how much I owed. Told me I owe +£5000 on the judgement but in excess of £30k & rising under the contract. Total depression has set in.
I have contacted my financial advisor to see if he can help me out dealing with them. I will finish paying the £5000 off in around 5/6 years by which time this £30k will be around £200k. I don't think they stand a chance of ever getting this money. But it's a very worrying time and I totally feel for you.

Moneygrabber

Hi

Just read your thread re Paragon and wondered whether you have got any further on. I've just sent complaint to Financial Ombudsman re. paragon.
We borrowed £1,500 in 1998, had a few probs one year after and basically still paying £40 per month so we've paid over £3000, still paying. they never reply to any letters or send statements. I am determined I will get my own back on them !

Best wishes