Thread: Help on ppi please with Paragon

Originally Posted by sinkingfast

Hi everyone,

Myself and my husband have a large amount of debt both secured and unsecured. We are on a debt management plan for the unsecured debt but the secured loan has been bothering me for sometime.

Today i was contacted by a company called Tucan claims who said that i have a very good case for claiming back the PPI on my secured loan. They also said that i could claim back alot of our credit card debt aswell.

I am cautious as Tucan want £249.99 upfront to investigate whether or not i have a claim which they say is refundable after 14 days if i do not have a claim. (Be careful Consumer Action Group do not condone companies advertising on the site as this is a self help site)

I have searched the internet for details on this company and many people say that claims can be done yourself or with a solicitor. I have however tried to claim back the ppi already and just ended up confused.

We took out the secured loan in November 2004. The loan was for £40000 and i took it out through Freedom FInance, the actual loan is with Paragon. We took out the ppi insurance as Freedom finance told me that they had a special deal whereby if the loan is still running at the end of 10 years we will get all the ppi premiums back (£10000) so it was a win win situation for us as if we claimed then we needed the insurance and if we didn't claim then we got all the money back so lost nothing. What i didn't realise at the time but do now is that the £10000 was added to the loan and subsequently we have paid a huge amount of interest on it already. I wrote to Paragon using standard letter templates and they wrote back telling me to contact Freedom finance. I did this but was told by freedom that they processed the loan on behalf of a company called Bespoke finance based in GIbraltar. I wrote to them and they wrote back saying i didn't have a claim. I followed it up again and they again told me that ppi had not been missold. My concerns though were that i had no idea i had been dealing with Bespoke and also that in their letter certain details of the loan were incorrect e.g. they stated the ppi term as 5 years not 10. I wrote again saying that i would contact the FSO as i was concerned that they didnt' even have details of the loan correct so how could they be so sure that the loan was processed correctly and they wrote back saying that they were no longer regulated by the FSA and this was their final answer.

I am looking for advice now on how to proceed. Do i go with a claims management company or contact a solicitor? I am confused and concerned and don't feel i cna do this myself as i don't even know which company ii should be dealing with?

ANy advise would be greatly appreciated.

Thanks

You should firstly read the stickies at the top of this forum.

PPI - Some Notes for Claimants..

Mis-sold PPI? Want your money back? use these links to help

BANKS are giving incorrect advice on PPI

Then start with a Subject access request to get all of the information on the loans/morgages you have.

Then make a considered decision on your next course of action.

I have so far managed through CAG to recover over £2.3K in bank charges and over £18.5K in PPI with two claims still to process.

IMO stick with CAG lots of help, No fee, No hassle and see this for results.

PPI Successes

Good luck

this was my own fight with RBS.

***RBS PPI Claim Long fight but, WON***


Use anything from my thread if it helps you in any way

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