Paragon personal finance PPI 1997

Wickwar

Hi,got a loan with Paragon personal finance in August 1997 & have just paid it off at long last this was due to marriage breakdown etc.
Ive just had the final statement & it works out I have paid £909.69 in PPI.Will I be able to claim this back at all as it was a long time ago.


Many thanks in advance.

dunstonh

You are entitled to complain to the broker that sold it to you in 1997. Just be aware that most brokers were not regulated until Jan 2005. So, it is likely the broker will reject it as bring pre-regulation.

Wickwar

I'll believe we got it directly from Paragon at the time.Im thinking that will make a difference am I right?

dunstonh wrote: »

You are entitled to complain to the broker that sold it to you in 1997. Just be aware that most brokers were not regulated until Jan 2005. So, it is likely the broker will reject it as bring pre-regulation.

-taff

Paragon weren't regulated then either.

Wickwar

So not worth pursuing then by the sounds of it then?

sun73

If the loan was arranged on a single PPI premium basis, then you've got grounds for complaint but you might have to refer it to the underwriter, do you know who that was? Paragon are in the news at the moment, see Plevin V Paragon.

Wickwar

sun73 wrote: »

If the loan was arranged on a single PPI premium basis, then you've got grounds for complaint but you might have to refer it to the underwriter, do you know who that was? Paragon are in the news at the moment, see Plevin V Paragon.

Yes I have seen that Paragon have been in the news about Plevin V Paragon.As for the underwriter I wouldn't have a clue from what I remember my EX sorted it out in 1997 all via the phone..Ive been paying it for years & didn't even know it had PPI on it until I got the closing statement.Im tempted to send of a template letter just to see what happens.