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Hi folks.
With 2 Bank claims stayed I have been looking at other ways to save money and have been reading this stuff on PPI's with much interest.
My O/H and I took out a joint secured loan 3 years ago with Paragon and were told that it came with PPI, in fact we were fobbed off with joint PPI plus joint life cover!
It's a large loan of 52K plus 18K PPI!!!!!! monthly rate of interest 0.7160% APR 8.9%. The copy of the agreement has the PPI box already crossed in print. The PPI is to cover a 20 year loan but for only 10 years.
We were healthy and employed at the start of the policy but were forced into buying the PPI with the loan or, no loan.
1. Is this a miss-sold policy and can we do anything to stop the PPI and claim back what we have payed so far?
2. Should we have to arrange cover for the term of the loan if we cancel this PPI?
Help please my gasp is a flabber with this one!!
Night Owl
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
You should not have been forced to buy the PPI - whether you have alternative cover is up to you, and depends really on whether you can confidently service the loan if anything happens like redundancy, sickness etc.
Without a shadow of doubt you could have got a policy that did the job much cheaper.
There is plenty of info in the stickies at the top of this forum.
Alan, Derby, UK.
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Sorry, but I cannot deal with your case by PM - please ask questions in your own thread. If you do not get a reply within 48 hours send a PM, with a link to the relevant thread, to any Site Team Member.
DO NOT SEND QUESTIONS ABOUT YOUR CLAIM TO ADMIN, or our WEBMASTER - YOU WILL NOT RECEIVE A REPLY.
Advice given is purely my opinion, and is not based on any legal training.
Thanks Alan.
Will read, read and read more.
Night Owl
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Well hello reader!
I'm resurecting this thread and gonna have a go at claiming the PPI.
Just looked at the policy and at the top it states "Unregulated Credit Agreement" It was taken out 2004.
Am I gonna have trouble claiming PPI on this?
I am under the impression that it is not covered under the Consumer Credit Act?
Night Owl
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
As I understand it you shouldnt have a problem with them not being registered with the FSA as if you check the FSA register they were registered from Oct 2004. My loan with them was taken out back in 1998 and they have come back with they were not regulated by the FSA so I cannot take my complaint to them, leaving the only option to me being FLA or court procedure. Its really up to you what course of action you take, the FSA do take a long time, they apparently have a large backlog of claims to deal with at the moment and the last I heard was approx 4 months, therefore court action would probably be quicker but more hassle and expense for you.
Paragon are not quick off the mark at replying to correspondence either (if they bother to reply at all) a delaying tactic no doubt!
I hope you have success with your claim, I am considering my claim, have put it on the back burner while I concentrate on a few others and requesting cca's from all of my creditors.
I have sent a complaint form to the FLA (Finance and Leasing Association) which may be able to help about Paragon approx 2 months ago but they have not bothered to reply, the form was emailed and it does say if you dont hear back from them within 2 days to contact them so I will chase that up.
I will willingly help you any further if I can. I am not an expect but have gained a lot of knowledge from this invaluable site. The people on here are diamonds!
Tink
GE MONEY - DEBENHAMS CARD
Settled in full after prelim
MBNA
Settled after LBA
however mistake made by me on contractual interest so going after the rest now
SETTLED IN FULL JAN 2007
MINT
Offer after prelim rejected
Settled in full after LBA
to go:
Barclays Bus Ac - to mcol
Barclays CC - to mcol
Nat West (over 6 years) no action taken yet
Creation Financial - awaiting statements since Dec
Goldfish - offer after prelim rejected
and some more
I have had this put on the back burner but now am ready to get it going again.
Intresteing that Paragon were registered in the same month and year that we took out the policy.
I will get the paperwork started and see what happens.
I don't mind the battle and hanging around waiting, cause the bank claims are on hold too. I have time on my hands to play at annoying another company for my money!
Don't give up on your claim, it's got to be worth the odd nudge to keep them aware that you are after them.
I agree with you about this site. It has given me the confidence to fight for the right to claim and fingers crossed will be bringing success soon.
Will be following you with interest and will get mine going on Monday.
Thank you.
Night Owl
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
SAR written + £10 PO going in the post 13/07/09 to Paragon.
Night Owl.
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
SAR written + £10 PO going in the post 13/07/09 to Paragon.
Night Owl.
And make sure to keep up the pressure as the banks are using delaying tactics all the way to try and hang on to Your money
a
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Thank you pompey, and here was me thinking I would get my teeth into something that would be quicker................si lly me!
Night Owl
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
SAR reply arrived this morning from Paragon.
This is a joint account and they have sent all the details just for me! Letter I sent was written by me about our joint account and requesting a SAR for our account.
They have sent statements from the start of the term, Unregulated Credit Agreement, Original application form and my payslip for that time.
All of my O/H's info has been blacked out!
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
You will have to get your OH to give written authority for them to release the full information on the joint account.They will cite the Data Protection Act Section 7(3) if you complain.
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Ok, now have full SAR after re-writting with both signatures.
I believe that this policy was missold because the paper work was already ticked for joint PP cover plus joint life cover when we received it, I don't believe it was optional. We have recently had our finances overhauled by Payplan and believe we have enough Life Insurance and our pay would cover sickness.
The loan is still running and the PPI was added at the start. Really not sure what to write next. Is there a template letter? I can't find one.
Thanks.
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Ok got all the statements back a while ago and the CCA.
Just writing another letter to Paragon after reading something from alanalana.
You have failed to produce the 'demands and needs' questionnaire or any other similar relevant material. This should be a set of questions to be asked for each sale of Payment Protection Insurance, to ensure that the product is suitable for the customer. We request that you provide us with a copy of this information and if you cannot provide it we wish that you state so by letter.
Tightening the thumb screws on Paragon!!
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
I asked them for the demands and needs statement. Their letter reads,
1. Any log of communication between ourselves and yourselves that may exist is not held within a relevant filing system.
2. Any pre-contract information including any Demands & Needs statement would have been provided by your brokers who acted on your behalf. Paragon did not recieve the application until after the Credit Agreement had been signed.
3. Your brokers were responsible for the sale of the loan and any associated insurance and for responding to any questions you may have raised. The application was only forwarded to Paragon after the loan Agreement had been signed and was completed within 48hrs of receipt. However, we enclose a copy of the relevant PPI certificate for eas of reference.
Do I have to send a SAR now to Central Capital?
I have a document folder with Central Capital on and one letter with Central Capital on. Everything else has Paragon on. Unregulated Credit Agreement has Paragon at the top.
Loan & PPI still being paid to Paragon. Never made a claim.
How do I stop PPI and make a claim? The PPI box on the Unregulated Credit Agreement has a printed cross on, not filled in by me.
PPI added to complete loan at the start of the loan.
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
I asked them for the demands and needs statement. Their letter reads,
1. Any log of communication between ourselves and yourselves that may exist is not held within a relevant filing system. (this is a fob off ask them to clarify what they call a relevant filing system. A relevant filing system is any filing system that refers to you by name, address, account number, reference number, national insurance number, they are trying to put you off the claiming route IMO. Even Microfiche is a relevent filing system so contest their first paragraph.)
2. Any pre-contract information including any Demands & Needs statement would have been provided by your brokers who acted on your behalf. Paragon did not recieve the application until after the Credit Agreement had been signed. ( You should put them to strict proof on this statement. I am assuming the credit agreement is with Paragon and it carries the paragon name on the agreement. I also assume that you are/or were paying all of you monthly payments to paragon including the PPI attached to the loan?)If this is the case then you should be claiming against paragon and not any broker.If you are paying paragon then get them to deal with the broker again this is them trying to slip the hook IMO.
3. Your brokers were responsible for the sale of the loan and any associated insurance and for responding to any questions you may have raised. The application was only forwarded to Paragon after the loan Agreement had been signed and was completed within 48hrs of receipt. However, we enclose a copy of the relevant PPI certificate for eas of reference.
Do I have to send a SAR now to Central Capital?
I have a document folder with Central Capital on and one letter with Central Capital on. Everything else has Paragon on. Unregulated Credit Agreement has Paragon at the top. Chase paragon and if they kick off or do not respond then after 8 weeks no response or in the meantime a final response saying no us, shove off or words to that effect then off to the fos. It will take a long time but the FOS will require a £500 fee from paragon do deal with your complaint. Better to let the FOS and paragon do the arguing.
Loan & PPI still being paid to Paragon.(this answers comments made above) Never made a claim. (so you can claim mis-sold PPI if you have a valid reason) please read the stickies for valid reasons.
How do I stop PPI and make a claim? The PPI box on the Unregulated Credit Agreement has a printed cross on, not filled in by me.
PPI added to complete loan at the start of the loan.
Best to write back to paragon telling them to cancel the PPI (but be sure to make sure you have alternative cover just in case. There are cheaper alternatives out there)
Tell them you require cancellation of PPI and a pro rata refund of any outstanding PPI.
Give them the reasons you are claiming mis-selling.....
THIS LINK IS IMPORTANT TO YOU ON RECLAIMING IT IS FROM 2001 FROM THE FOS loan payment protection insurance and a quote from this link...
Quote:
When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions. Another Useful article on Single Premium PPI and why the FSA say it was unfair. http://www.moneymadeclear.fsa.go v.uk...insurance.html Payment protection insurance (PPI) – Refunds of single premiums : FSA Money made clear – Unfair contracts
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Many thanks alanalana, some great advice as always.
Will go over it over the weekend if I can, even though I'm working nights!
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Letter going to Paragon for further information from their letter above and a copy of the Needs and Demands statement under my SAR.
Also cancel PPI, pro rata refund with reasons for mis-selling Single Premium PPI.
Don't think this is going to be an easy fight!
Keep up the fight against Bank Charges
and sign this petition.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Letter going to Paragon for further information from their letter above and a copy of the Needs and Demands statement under my SAR.
Also cancel PPI, pro rata refund with reasons for mis-selling Single Premium PPI.
Don't think this is going to be an easy fight!
They rarely are but perserverance and meticulous record keeping of letters and documents is a distinct advantage when it goes to the Financial Ombudsman Service or the Courts.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Night Owl v Paragon PPI
's with much interest
Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! 
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Originally Posted by Night Owl
