Paragon & Morecroft

[Epicurus]

Hi,

 

I have started the ball rolling with Rockwell and I also want to start things off with one of these two. Debt is very old, long story etc.

 

What has shocked me into action with these was Paragon. I received a letter recently and from what I can remember being a loan for a few thousand pounds seems to have turned into £16k

 

While they are not giving me any hassle I just want to check where I start

 

Do I start like I have with Rockwell and send them Letter N from the Library??

 

I have very little/no info on either of them so before I request anything I just want to check I am starting with the correct letter

 

Many thanks

[dcakiller]

send them the statute bared letter and report there sorry asses if they do not stop chasing the debt. Incidently they may try to say it is not sb because they have been sending you letters this is cr*p.

[IdaInFife]

if you have made any payment in the last 6 years then yes send letter N

 

ida x

[PGH7447]

Paragon do like their loans to increase 10 fold, dont know how they do it but they do,

[Bazooka Boo]

Subbing, Statute barred interest!

[sillygirl1]

Knowing Paragon, they probably have dug up an old calculation based on 'the rule of 75 (or it might be 76), it has been outlawed by the OFT and they should only use a three month interest 'penalty' at best.

 

I would also suspect they are clutching at straws and have discovered the debt is just short of being statute barred.

[Epicurus]

Thanks for the replies. I will get the letters send and post back with what replies I get

 

Cheers

[Epicurus]

Hi. I have had my response back from Paragon.

 

It was a covering letter plus this single page which I have scanned in and removed mine & my x-wife's signature, my name and address plus the reference number .

 

Could you please offer some advice/help on where I stand on weather this is enforceable or not.. my last letter form them stated that I owed approx £16,000 form a £5000 loan

 

Many thanks in advance

 

Thanks come out a little small. here is a link

Edited October 1, 2009 by Epicurus

[IdaInFife]

sorry its too small and way to large on zomm

 

can you upload it to photobucket or tinypic and re potit

 

ida

[Epicurus]

Sorry. I have uploaded it to photobucket

 

Hope you can see it now

 

Edited October 1, 2009 by Epicurus

[Epicurus]

uploaded to photobucket. link above. Thanks

[IdaInFife]

when did you last make a payment towards this?

 

 

where did you sign this agreement? at home or in their offices?

 

ida x

[Epicurus]

Hi. From what I remember it was signed in their office. I have been making regular £20 payments for a while now

[Epicurus]

So does this look like that I might not be able to do anything?

 

Thanks

[Epicurus]

Is anyone able to give some feedback on where I stand with Paragon..

 

Copy of letter in post 10

 

Thanks

[PGH7447]

from what I can see of it it looks kosher to me

[Epicurus]

Is there anything that I can do about the silly interest that have added.

 

A £5K loan is now £16K +

[Dial Square]

It might be worth going to see the CAB. I had a similar problem with Paragon but I had a CCJ with them which put me in a different situation. The CAB helped me write to them and they ended up writing of £10K extra interest. I only paid them the CCJ balance. The CAB may have had other people in your situation and will know what you need to say to them. Personally, I would tell them that they are not getting another penny out of me and to take me to court as I'm pretty confident they will not want that amount of interest to go in front of a judge but I understand if people do not want to take that risk.

[Epicurus]

Thanks for your reply. I had a letter from them today asking me to contact them (they dont have my phone number) as they would like to make an offer.

 

Should I write to them back asking what this offer is? also I wanted to ask them for all payments made to this account so I can get an idea of how much I have paid to them.

 

Thanks

[Dial Square]

I would never call them. They are asking you to contact them so they can get your number and hound you. You're right to suggest writing back to them rather than calling. Personally I would write back and advise that you believe you have paid enough to more than cover the original loan (assuming you believe that you have over paid on this as they have not yet sent you any details of total payments) and to now get stuffed. As I said before, I'm pretty confident that they will not want this to go in front of a judge. They hound people until they make an offer and once they know that someone is fighting back they don't like it. I paid my judgement balance and thought that would be the end of it. They hounded me with phone calls and letters which I have no doubt they used to add another £20 or so to my balance each time. I wrote an official complaint to them regarding their lack of a legal basis to chase the further interest and lack of transparancy regarding the increasing balance (they never ever sent statements or advised me of the outstanding balance until I requested it). Basically, given the monthly amount I was paying was less than the interest being added each month, I would never have paid the debt. It might be worth going down the official complaint route pointing that out.

Edited October 21, 2009 by Dial Square

[Dial Square]

Just anothr thing. You mention that they have sent you a signed agreement (can't open it at work). I'm slightly suspicious as to why they want you to make an offer if this is a genuine agreement that could be used in court. They usually ask for offers if they believe they haven't got a leg to stand on. Don't want to suggest you do anything that could cause this to go to court and them win but as I said it's a bit suspicious. Was the original loan with Universal Credit by chance? If so, have you read the attached:

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/204549-paragon-home-visit.html

 

It mentions that Universal Credit agreements are basically unenforceable. This CAGGER also had the interest written off.

[Epicurus]

Hi, Thanks for your reply. Sorry for taking a while to come back on this. Yes this is a Universal Loan Agreement which is now in the hands of Paragon

 

I have just read that link to that other thread you posted. In some ways I am glad I am not the only one, but appalled that they are allowed to get away with this.

 

So just to recap on where I am at the moment

 

I sent them the letter asking for a copy of my loan agreement which they sent me which was a one sided photo copy and there is a link a few posts back. Other than a covering letter nothing else was provided. It does have my signature and my x-wife's signature too. Where do I stand with regards to this copy of the agreement. Does it look above board etc???

 

If thats the case and it looks all correct, is there anything I can do about the ridicules about of interest they are charging each month (£57pm)

 

They have asked me to ring they (yeah right) as they want to discuss a settlement figure.

 

I have written to them asking the following.

 

All payments make to this loan form day 1. This is so that I can work out approx what I have paid to them

 

Also that I only want to communicate via letter so that I can have a complete record of everything that goes on

 

Any help and advice on where I am now would be great

 

Sorry if this is going over what has already been posted

 

Thanks

[Epicurus]

Sorry to keep on about this but I am still looking for a little help

 

Cheers

[IdaInFife]

ok paragon probarbly wont have the info you need.

 

i would send UCL a sar. you need to include £10 po but this will get you all your transactions and copy of your default notice and termination notice and t and c's

 

 

UNIVERSAL CREDIT LIMITED

ST CATHERINE'S COURT

HERBERT ROAD

SOLIHULL

WEST MIDLANDS

UNITED KINGDOM

B91 3QE

[Epicurus]

Hi, Thanks for your quick reply. Back on post 10 I posted a pick of what they sent me which was a 1 page photocopy of what I and my x-wife signed which was a universal credit agreement. but that's all they have sent me. Nothing on the back and no other documentation. I am also concerned that the £5k loan is now £16K