Jump to content


  • Tweets

  • Posts

    • Thank you for this. The first thing to be say is that this means that you are winning. It is pretty well unheard of in my experience for the bank to give way and finally return the money. The fact that they have done this under the threat of a judgement for breach of statutory duty indicates even more that they are worried about their position. Nowhere have they indicated that they have complied with the requirements of the Proceeds of Crime Act and inform the National crime agency. I don't believe they have and this is a very serious breach of statutory duty. Not only that it is a very serious breach of the FCA BCOBS regulations in that they are required to treat you fairly. Treating you fairly in this case means that they must comply with the rest of their statutory duties. It appears that they really haven't done this at all and that they have acted in an arbitrary way in disregard of the law and that they are hoping to get away with it. I find myself wondering how many other hundreds of people have been treated in exactly the same way – and you are probably the first ever to have stood up to them and to get them worried. I think I've already indicated that a press contact of mine in the Sunday Times would be very interested in this story. He has already run stories about the very poor standards applied by banks when deciding that their customers are involved in some fraudulent behaviour. The first thing to say about the letter which you have received is that they are trying to apply conditions to releasing your own money. It's your money and there should be no conditions and my suggestion is that you object to this. Secondly, not only are they threatening to continue to withhold your own money – but also they are saying that if they release it to you you will simply have the net figure without any kind of interest or compensation. It's clear that while they have had your money, they have invested it and earn money on it. They have probably been lending it out at between 16% and 20% and although the usual rate of interest is 8%, it seems to me that justice can only be served by repaying you your money plus the commercial rate of interest – at a compound rate. Normally the 8% is calculated at simple. Thirdly, they are not offering to pay you any compensation and clearly they are hoping to get away with it without any kind of sanction or not even a slap on the wrist.   Fourthly, they had the nerve to impose a seven day deadline. Don't worry about their deadline. It's a load of huff and puff. This is all part of their bluff game designed to intimidate you. At the end of seven days – what? Are they then going to insist on going to court? You can be certain that these people do not want to go to court. In fact they probably wish they had never started. Finally, they want the matter to be kept confidential – and I can't say I blame them. I would be ashamed if people knew that I had treated somebody else in this way and I'm sure they are worried about reputational damage. I'm also sure that there are extremely worried about what will happen if you get a judgement against them for breach of statutory duty. It will have to be reported to the FCA. It will have to be reported to the NCA. And of course it should be reported to the newspapers because people need to know what is going on. If you want, you can simply accept their proposal – get your money back, given confidentiality – and that's the end of the matter. However, you have no idea how this will impact on your record in the future. I imagine that they will bar you from ever opening an account with them again. – But at least you will have your money and you can get on with your life. However, if you want you can stand your ground and make it clear to them that you are going to be mucked around and treated like this and that you are prepared to go to court if they won't make a proper offer. I understand that you need to pay a court fee of about £350 in the next seven days. I expect that the bank is making this offer now hoping to dissuade you from spending any more money and hoping that you will back down. If you have the money to proceed then I would suggest very strongly that it will be a very serious sign of strength that you tell the bank that you're not interested in that you are paying the fee for the next stage of the court process. If the bank knows that you've called their bluff on this and that you have been prepared to invest further money in moving this legal action forward, then they will start to reflect and I can perfectly well imagine that they will make you another more interesting offer – once again on conditions of confidentiality. Without seeing the offer, I'm suggesting already that you will probably be best off turning it down. In any event, I would remind you going back several months that I already predicted that the bank would make you confidential offer – and that has happened. I'm not saying that I'm always going to be right here – but I think that now basically the bank have pretty well admitted that they need to pay you your money, there is no chance of you losing it. You will get your money and it really is just a question of how much else you will get in addition. If you'd like to continue then let me know and I will suggest a draft response to them.
    • The cost of living in Britain over a person's lifetime is over £1.5m, new findings have claimed as the nation feels the squeeze amid soaring energy costs and dismal interest rates on cash savings.View the full article
    • Mortgage approvals for house purchases fell to 67,200 in October, according to the Bank of England’s (BoE) latest figuresView the full article
    • Uncertainty surrounding the new Covid variant is likely to linger into next year, weighing on growth.View the full article
    • An online news and information service for the UK’s commercial and consumer credit industry.View the full article
  • Recommended Topics

  • Our picks

  • Recommended Topics

Hope someone can help


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4560 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hello all :)

 

Ok, so got a secured loan in Feb 06 through Paragon Personal Finance, through freedom finace! loan amount £11,000 lenght of time 108 months PPI £3190 period of cover 60 months total to be repaid £14,190

 

Was told at the time of taking out loan that after 3 years of paying with no claims on the PPI i would get full refund of the PPI! I thought great sounds good. Called back about a year or so later and told no it would be after 5 years. Thought ok still not so bad. I called at the end of the month and was told i would get it back after 9 years. But the PPI was taken out through Freedom and not them and to call them. So i did and was told NO they where not doing insurance then and it would be Paragon. Called Pargaon again today and was told the same again that it would not of been taken out through them and because my loan was less than 10 years i was not entitled to get anything back from my PPI! I have all my paperwork from them, however the lovely lady from paragon said that because i dont have anything in writting about the cashback then well tough!

 

Its funny because the lady on phone from Paragon was really nice until i mentioned PPI and she totaly changed!

 

Im dying to call them back to inform them that freedom where not doing any PPI in 2006

 

Any advice? do you think i can claim it back at all?

 

Thanks in advance

 

Alison

Link to post
Share on other sites

Hello Alison,

 

Hello all :)

 

Ok, so got a secured loan in Feb 06 through Paragon Personal Finance, through freedom finace! loan amount £11,000 lenght of time 108 months PPI £3190 period of cover 60 months total to be repaid £14,190

 

Was told at the time of taking out loan that after 3 years of paying with no claims on the PPI i would get full refund of the PPI! I thought great sounds good. Called back about a year or so later and told no it would be after 5 years. Thought ok still not so bad. I called at the end of the month and was told i would get it back after 9 years. But the PPI was taken out through Freedom and not them and to call them. So i did and was told NO they where not doing insurance then and it would be Paragon. Called Pargaon again today and was told the same again that it would not of been taken out through them and because my loan was less than 10 years i was not entitled to get anything back from my PPI! I have all my paperwork from them, however the lovely lady from paragon said that because i dont have anything in writting about the cashback then well tough!

 

Its funny because the lady on phone from Paragon was really nice until i mentioned PPI and she totaly changed!

 

Im dying to call them back to inform them that freedom where not doing any PPI in 2006

 

Any advice? do you think i can claim it back at all?

 

Thanks in advance

 

Alison

 

Firstly keep everything in writing and keep copies of all correspondence sent and received. (Phone calls can be denied and if they are recorded the recordings can be lost :eek:.

 

Do you have a copy of the original Consumer Credit Agreement?

If you do who is the agreement with paragon or freedom?

If you do not have a copy you will need to obtain one by submitting a Subject Access Request.

 

Let me know and we can take it from there;)

 

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 :mad:

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

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

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

 

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.

 

Link to post
Share on other sites

Hi thank you for your reply

 

I have a copy of the agreement which is stamp "certified a true copy"

Everything is on Paragon paper and is signed by a paragon rep

 

Alison

 

Your claim then IMO is with Paragon they signed the agreement and presumably your payments are going to them. They (Paragon) are trying this on with most claimants ie blaming the broker. I would stick with Paragon and if they fail to comply the complaint to the FOS should in the first instance be against Paragon the Consumer Credit Agreement signatory.

 

aa

Edited by alanalana
spelling

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 :mad:

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

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

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

 

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.

 

Link to post
Share on other sites

Thank you aa

 

Thats what i thought,

 

What should i do now? Should i cancell my PPI?

 

Dont want to mess it up so any advice would be fab

 

Alison

 

I would take a step back here, firstly have you got copies of the terms and conditions that were applied to the loan?

These should give you all the information on the PPI terms in respect to any refunds after 3/5/9 years as you mentioned in your first post.

 

I have all my paperwork from them, however the lovely lady from paragon said that because i dont have anything in writting about the cashback then well tough!
The first thing to do is to send a Subject Access Request and ask for all the information on the loan.

 

template letters here....Full SAR for ppi and also here....

 

Data Protection Act 1998 - Subject Access Request

 

[/url]You should request the following documents:

 

A true copy of your Consumer Credit Agreement with the Terms and Conditions that were applicable at the time you took the loan.

 

A full breakdown on the PPI that was added to the loan.

 

Copies of all statements applicable to the loan.

 

Copies of all correspondence that apply to you as a data subject ie letters, emails, faxes etc.

 

Copies of all recorded telephone calls or transcripts of the recordings.

 

A copy of the needs and wants/ customer duty of care questionnaire... here is an example.

 

http://wwwa.mbna.co.uk/insurance/files/CP0608_INSU_MB_LP_S.pdf

 

Copies of any notes made by any staff in their dealings with you.

 

Also have a look in these links for further help.

 

PPI - Some Notes for Claimants..

 

links within this one are loads more links here are a couple that may help..

 

For claims before 2005 and the FSA ruling from which campaign

How to tell if you’ve been mis-sold PPI

 

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

 

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...

 

I belive it is best to be forarmed before you start to claim.

 

The SAR fee is a Statutory £10.00 Postal Order is best but keep the post office receipt which will have the PO number recorded.

 

I would recommend you send it first class recorded that way you can track it through the Royal Mail online tracking system.

 

Paragon will then have 40 days from the date of receipt to send you all the data you have asked for that is applicable to you as a data subject.

 

Once you have the information then start the PPI reclaiming process. Keep copies of all correspondence both ways (you may need to produce copies of correspondence later) and do not be tempted in to using the telephone when you get their responses.

 

It could be a long haul but their are no quick fixes on PPI reclaiming.

 

aa

Edited by alanalana
duplicate link removed

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 :mad:

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

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

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

 

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.

 

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...