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Secured Loan Shortfall
PeterO
Posts: 2 Newbie
Does anyone have any experience/useful advice in relation to dealing with Paragon Finance when you have a shortfall when your property is sold?
I'm extremely nervous about this company. The internet offers plenty of worrying cases of really quite outrageous and excessive interest charges being applied. Paragon have supplied a settlement figure and my ex and I will be about £10K short.
Amongst the various conditions they are seeking to apply is continued interest whilst I try to pay down the balance. I already have a Debt Management plan in place to address the various other debts arising post divorce.
Without interest, I can clear this balance in 3-4 years... With the kind of interest that Paragon appear infamous for, I can see this turning into another long running debt that will never be cleared.
I'm extremely nervous about this company. The internet offers plenty of worrying cases of really quite outrageous and excessive interest charges being applied. Paragon have supplied a settlement figure and my ex and I will be about £10K short.
Amongst the various conditions they are seeking to apply is continued interest whilst I try to pay down the balance. I already have a Debt Management plan in place to address the various other debts arising post divorce.
Without interest, I can clear this balance in 3-4 years... With the kind of interest that Paragon appear infamous for, I can see this turning into another long running debt that will never be cleared.
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