Thread: Paragon never-ending loan

Hi

I took out a personal loan from Paragon about 10 years ago for approx £8,000. I fell into some difficulty paying it back and while my payments dropped they kept adding interest on - which stupidly I wasn't aware of.

I am now making repayments of £250 per month, but the debt outstanding is still close to £10k which is just ridiculous - as I am sure I have paid the original loan amount many times over.

Are there any options open to me to get this sorted without having to pay them even more money? I did speak to one helpful person at Paragon who suggested I write in offering a fixed Full and final payment - has anyone any experience of this and do they know what kind of figure Paragon will accept?

Any advice would be gratefully received.

Thanks,
Mike.