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Paragon query/ advice if poss !

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  • sourcrates
    sourcrates Posts: 31,584 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    edited 24 August 2024 at 1:02PM
    OK, that would make sense yes, its quite likely to be a mortgage shortfall debt then.

    This is actually good news, these kind of debts are no longer secured, if the house was sold and there was not enough money to settle the debt at the time, they tend to be large sums of money, which most folk can`t ever hope to service once they get into financial trouble.

    This would explain the random collection activity, these debt buyers know their hopes of a payday are slim, but hope springs eternal with them.

    Wait and see if this is what we suspect, and if it is, usually a simple letter saying you can`t afford to service this debt, you have health issues, your not working, as your situation is so dire etc etc, is enough to stop collection activity, and possibly write off the debt as well.

    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Pinky85
    Pinky85 Posts: 59 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    OK, that would make sense yes, its quite likely to be a mortgage shortfall debt then.

    This is actually good news, these kind of debts are no longer secured, if the house was sold and there was not enough money to settle the debt at the time, they tend to be large sums of money, which most folk can`t ever hope to service once they get into financial trouble.

    This would explain the random collection activity, these debt buyers know their hopes of a payday are slim, but hope springs eternal with them.

    Wait and see if this is what we suspect, and if it is, usually a simple letter saying you can`t afford to service this debt, you have health issues, your not working, as your situation is so dire etc etc, is enough to stop collection activity, and possibly write off the debt as well.

    Thank you so much for your help, fingers crossed ! 
  • Pinky85
    Pinky85 Posts: 59 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    The maximum personal loan you can get, or could get was around 25k, so at 34k, I'm thinking this may be a mortgage shortfall debt, or an old secured loan possibly.

    Did they own a house together which has been sold/repossessed?

    Basically just trying to eliminate things here, if the debt was still secured Paragon would be going down the legal route to recover this debt by now, as they aren't it suggests the above might apply, any thoughts OP?

    Also in regard to your initial email to them, if you did not specifically mention the debt, you will be OK, and will not have re-set the time clock.

    However if the debt was from a mortgage shortfall, the limitation period is 12 years, not 6, if it was a secured/unsecured loan, then the 6 year rule applies.
    They have emailed back saying that the email address they have for the account is not the one my bf has used to send the email last week there for it is unverified and they are unable to discuss the account via that email address. They are saying to either write to them or call them to verify email address. 
    This is strange cos his email address is the only one he has and apart from 2017 when he emailed them to say his ex wife doesn’t live at my moms address, he has never ever emailed them before so I don’t know what email address they have . 
    What shall we do from here ? 
    We are both unable to call them due to anxiety , I for sure can’t use a phone to call anyone and he won’t either because of his anxiety so that option is out of the question. 

  • sourcrates
    sourcrates Posts: 31,584 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    edited 29 August 2024 at 2:15PM
    OP, send a letter, never do anything debt related over the phone, and email is unreliable.

    Anything to do with debt, should be conducted in writing only.

    Letters are deemed to be from the sender, sent to the recipient.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Pinky85
    Pinky85 Posts: 59 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    OP, send a letter, never do anything debt related over the phone, and email is unreliable.

    Anything to do with debt, should be conducted in writing only.

    Letters are deemed to be from the sender, sent to the recipient.
    So shall he just sent a letter confirming his email address like they said ? Nothing else in the letter ? 
    Thanks 
  • sourcrates
    sourcrates Posts: 31,584 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    No, forget the email thing, send the prove-it letter, the link is in my signature, at the very bottom.

    That should tell you what the debt is, and its current status, without formally acknowledging the debt.

    Edit the letter to you circumstances, and pop it in the post.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Pinky85
    Pinky85 Posts: 59 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    No, forget the email thing, send the prove-it letter, the link is in my signature, at the very bottom.

    That should tell you what the debt is, and its current status, without formally acknowledging the debt.

    Edit the letter to you circumstances, and pop it in the post.
    Brill thank you so much , I’ll let you know what happens ! 
  • Pinky85
    Pinky85 Posts: 59 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    No, forget the email thing, send the prove-it letter, the link is in my signature, at the very bottom.

    That should tell you what the debt is, and its current status, without formally acknowledging the debt.

    Edit the letter to you circumstances, and pop it in the post.
    Sorry, I need some help with this letter. 

    In the prove it letter it says about not having any knowledge of the debt or not having any knowledge of having any contract with them - which one do I use in this as he did write to them in 2017 like he did all his creditors explaining his situation and they never replied ? 
    Also been as they aren’t taking any money off him atm so I need to write the paragraph about harressment etc ? 
    I am really struggling with this letter. 
    Thanks 
  • sourcrates
    sourcrates Posts: 31,584 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    edited 30 August 2024 at 12:29PM
    Ok, no worries, its a standard letter template, with one multiple choice option, which you can edit to your circumstances.
    The original loan was not with Paragon, it will have been another lender, yet its them who are writing to you, so you never had a contract with Paragon, so they must prove they have the legal right to ask you to pay the debt.

    I have edited the letter to your circumstances, below, just insert the date, the reference number on the letter they sent you, and print your name at the bottom, then print off and attach a copy of the letter they sent you, with this one, send them together to Paragon, and see what comes back.

    The letter mentions collection activity, which covers any contact, letters/calls/emails etc etc, not necessarily payments.


    Dear Paragon

    I am writing in response to a letter from you dated [dd/mm/yy], reference number [abc333333]. A copy is attached.

    I have no knowledge of any such debt being owed to your company.

    If you do not stop collection activity whilst investigating my dispute, you are breaking FCA rules and guidance.
    Also, ignoring claims that accounts are in dispute and continuing to make unjustified demands for payment is harassment.

    Please provide evidence of my liability for the alleged debt or send me written confirmation that this matter is now closed.

    I look forward to hearing from you.

    Pinky85
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Pinky85
    Pinky85 Posts: 59 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    Ok, no worries, its a standard letter template, with one multiple choice option, which you can edit to your circumstances.
    The original loan was not with Paragon, it will have been another lender, yet its them who are writing to you, so I have edited the letter to your circumstances, below, just insert the date, the reference number on the letter they sent you, and print your name at the bottom, then print off and attach a copy of that letter, with this one, send them together to Paragon, and see what comes back.



    Dear Paragon

    I am writing in response to a letter from you dated [dd/mm/yy], reference number [abc333333]. A copy is attached.

    I have no knowledge of any such debt being owed to your company.

    If you do not stop collection activity whilst investigating my dispute, you are breaking FCA rules and guidance.
    Also, ignoring claims that accounts are in dispute and continuing to make unjustified demands for payment is harassment.

    Please provide evidence of my liability for the alleged debt or send me written confirmation that this matter is now closed.

    I look forward to hearing from you.

    Pinky85
    Thank you. I’m gonna have to hand write it as I don’t have access to a computer . 
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