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Success with reclaiming Paragon/Welcome PPI!
TheDonOne
Posts: 1 Newbie
Back in the mid 00's I was a bit daft and took out a consolidation loan with Paragon.
The loan was paid off in 2009 after the sale of my house, and until recently I never even thought I had PPI.
Anyway, I foolishly replied to one of those text messages that come every now and again, from a company who could claim back my mis sold PPI. A few weeks later they sent me a letter, highlighting the details of my original loan amount, amoint of PPI that was added to the loan etc.
At this point I though 'might as well have a go', as the amount of PPI was not inconsiderable. I told a friend about this, and he warned me against these companies who take a sizeable commission from any PPI they claim back, and he pointed me in this direction of MSE.
So, after a few letters back and forth, I was told in no uncertain terms that Paragon were in no way liable for the mis sold PPI, which was apparently organised through a loan broker (I didn't even realise this). They pointed me towards Welcome Finance, the broker, also helpfully informing me that they were no longer trading!
I then found out about the government financial compensation scheme so got in touch. They forwarded me a questionnaire to complete which I did with haste and returned it the next day.
A couple of phone calls in the forthcoming weeks to confirm a few details, and then when I got back off holiday last week, there was a letter from them, including a cheque, for ................................................................
£7562!!!!!!!!!!!!!!!!!
Result!
Sorry this is a bit long winded, just want to let others know that there is hope reclaiming PPI from Paragon/Welcome finance.:T
The loan was paid off in 2009 after the sale of my house, and until recently I never even thought I had PPI.
Anyway, I foolishly replied to one of those text messages that come every now and again, from a company who could claim back my mis sold PPI. A few weeks later they sent me a letter, highlighting the details of my original loan amount, amoint of PPI that was added to the loan etc.
At this point I though 'might as well have a go', as the amount of PPI was not inconsiderable. I told a friend about this, and he warned me against these companies who take a sizeable commission from any PPI they claim back, and he pointed me in this direction of MSE.
So, after a few letters back and forth, I was told in no uncertain terms that Paragon were in no way liable for the mis sold PPI, which was apparently organised through a loan broker (I didn't even realise this). They pointed me towards Welcome Finance, the broker, also helpfully informing me that they were no longer trading!
I then found out about the government financial compensation scheme so got in touch. They forwarded me a questionnaire to complete which I did with haste and returned it the next day.
A couple of phone calls in the forthcoming weeks to confirm a few details, and then when I got back off holiday last week, there was a letter from them, including a cheque, for ................................................................
£7562!!!!!!!!!!!!!!!!!
Result!
Sorry this is a bit long winded, just want to let others know that there is hope reclaiming PPI from Paragon/Welcome finance.:T
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Comments
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Well done on your success! :beer:The one and only "Dizzy Di"
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