Thread: Please help.....

I am now pursuing a missold PPI agaainst Paragon.

The case has not been upheld by the fos as the company who brokered the loan, The Loan Processing Centre, have gone bust. I have today contacted Paragon as I require some more paperwork and to make them aware of my intentions. Their response surprised me somewhat.

They stated that they will fight this all the way and indeed have won several cases as they believe that it is the broker that is responsible for the sale of the PPI. In addition, they gave me the number of an organistaion called FSCS, the Financial Services Compensation Scheme, who apparently rule in the absence of the broker if they are no longer in business.

I await to speak to them tomorrow. In the mean time, please can anyone advise as to whether they have fought a case of this ilk and, if so, the result they achieved.

Many Thanks,

Hi, Im not sure if they have fought any cases previously reagarding this but i doubt it, it is correct what they are saying if the broker or the provider if there was not a broker used are closed then there is no body to pursue a claim against. In your case as the provider did not sell the product to you you can not make a claim against them. But the fscs is a scheme set up for that purpose and if you have been mis-sold the PPI you should receive your money back just as you would if you claimed through the fos.
hope this helps