PPI Claim Against Loanline Ltd/Paragon Finance Help Needed Pls

Robbo1977

Hi, I thought i'd post on here as i've run out of ways to try and claim my mis-sold ppi back, I will outline all the details

I took out a loan in feb 2003, the broker was Loanline Ltd and the loan provider is Paragon finance..I ticked the box on the loan application to say I didn't want PPI on my loan but when the agreement came back they had added PPI on, I rang up Loanline to remove it only to be told they couldn't guarantee I would be accepted for the loan without the PPI on it (classic mis-selling) so I begrudgingly signed the agreements as I was desperate for the loan, the ppi wasn't ever explained to me, what it covered, exclusions, pre-existing conditions and the lengths it covered and I never received any policy documents

Its only when I rang paragon to claim against my ppi in 2007 due to getting ill that I realised any details, the policy only covered me for 5 years on a 25 year loan, it was a single premium upfront policy so I would be paying interest on it for the full 25 years, 20 years after it had ended (none of this was explained to me when taking the loan) and because I had fallen into arrears they had cancelled the policy early anyway so I couldn't make a claim..

I've tried claiming through a claims company but Paragon have told me like everyone else that its nothing to do with them as Loanline sold me the ppi, Loanline ceased trading in 2005 so I can't contact them, I've contacted the financial ombudsmen who have said the can't deal with claims against paragon/loanline yet as they are classed as consumer credit, the fscs can't help me as it was before january 2005 and the finance and leasing association can't help me as Paragon have already refused the claim and the local CAB can't give me any other things to try

I can't think of anything else to try and I would really appreciated if anyone could give me any sort of help on this matter if they are aware of any other ways to pursue it

Thanks for your help in advance

-taff

I'm afraid that your complaint is over, there is nowhere left for you to go.

If you are still paying i now, you can ask whoever took he loan over whether they can remove the PPI interest part, but it's not likely.

antrobus

roomaniac wrote: »

....If you do have evidence, you might be able to make a claim from the FSCS. I have a claim with them at the moment, although do not yet know the outcome. ....

The OP has already contacted the FSCS who have said they can't help him.

dunstonh

If you do have evidence, you might be able to make a claim from the FSCS.

FSCS covers sales of products made after January 2005. Op bought in 2003. So, the FSCS will not be able to consider the case.

[Deleted User]

roomaniac wrote: »

Actually your claim may not be over.

Since the original post was made in March 2014, I think it is very much over..