paragon personal finance PPI back to the 90s *** Success ***

[justice4me]

£10k loan with ppi dated 25th June 1999 & this was settled on 25/04/2007.

We sent our letter to paragon requesting the ppi claim refund on 19th January 2012,

Received this reply letter from paragon personal finance yesterday:|

 

Thank you for your letter dated 19th January 2012,

The application was received from you on the 25th June 1999.

the sale of general insurance ( including payment protection) was not regulated by the financial services authority (FSA) until 14 January 2005,

 

As the policy was taken out in 1999 it therefore falls within a non regulated environment.

 

Unfortunately.this means that the concept of an advised sale did not exist and such products were offered on an information only basis,

i.e the customer would be offered the product and would make the decision whether to take it or not,

 

When you applied for the loan,

the information relating to the insurance would have been provided in writing form.

there was no regulatory requirements to verbally discuss the details of the insurance at the time.

the finale decision on whether to take the insurance or not would have been yours.

we would also stress that the insurance was not a condition of the loan.

 

your complaint relates to your belief that the payment protection policy was mis-sold.

 

i hope i have addressed the issues you have raised.

we will consider your complaint closed if we have not heard futher from you within 8 weeks.

we believe that your complaint may not fall within the jurisdiction of the financial ombudsman service.

this is because the cicumstances giving rise to your complaint occurred before jurisdiction was extended in April 2007 to loans regulated by the consumer credit act.

 

Well well well!! this tells me... Sent off for a copy of this form and hope the person who sold it to us on the telephone still works for them? but always check before you sign anything:|

[dx100uk]

what did you sent off?

 

an SOC and a copy of the fos customer questionaire?

 

note

they have not said is was not mis-sold

just that you can do nowt about it even if it was

because no-one can force them to pay up

 

shock coming paragon!!

 

how did you apply for the loan?

 

dx

[justice4me]

Hi dex.

In 1999 we had been looking for a loan to pay off all our finance together! and looking back on it" our credit score was not the best in 1999 and we looked around on the internet for anyone who would have us?

 

We received a call from them and paragon said we could have £10,000 with the payment protection insurance and the forms will be sent out to us within a few days.

 

I was told just sign them and return and the money will be in your account within 14 days.we did sign them.the repayments £380 per month,

 

Someone told me about how everyone can claim back ppi in December 2011.

 

I sent them a letter requesting a refund as my above post,

 

i will keep everyone up-dated on this issue and will not let them get away with it.

Edited January 22, 2012 by justice4me

[justice4me]

Just to up-date everyone..

Paragon we are coming after you!!

[I hate paying fines]

Good luck, Keep us informed

[justice4me]

Hello Everyone again,

Quick up-date on my on going battle with paragone personal finance,

 

After many days looking for my old agreement from 1999-2007,

( found) up inside my loft,

the box which states..

 

if you require optional repayment protection--"was not ticked,

 

Looking at the agreement it was for £15k not like I said for £10k,

"its all go for a claim on"

 

£15k - monthy repayments £209.78 over 120 months, at the time the current rate of interest was 11.37

 

In the mean time.we received information from fos

"which the reply states "

As time allowed this is well over the 6 years which is now run out,

 

still try for yourelf and again contact the company ( Paragon)

So yesterday I did,

 

I was told my account file would be called back for inspection by the call centre,

This would not be looked at until thursday next week,

 

I told them on the agreement the section on our agreement had not been ticked and we now feel hard done by "like many other people,

 

On the rear of the agreement it states,

2.payment protection insurance,

Where optional payment protection insurance is taken as provided"overleaf"then.

 

Terms & Conditions,section (e) Any insurance monies received by the company may be applied on or towards repayment of the balance,

Section © the customer(s) acknowledge(s) that the terms and conditions of the credit insurance were made known to them before this agreement was signed,

Now this is proof on the copy of the agreement documentation-(this is not true) is it paragon,

Now waiting for them to get back to me with the comments I made about this agreement ( not ticked for the insurance)

 

£15000 x 120 months x 11.37 interest the year 1999-2007,

 

We wait and see on the reply from them,

 

My take on all this,

( the greed & cunning tricks by banks & loan companies on ppi came to the attention of many of us

only now and the fact this issue with the general public on claiming them back goes on,

 

This issue with the time limit which only.i.e. apply from 3 years from when you sign on the dotted paper or 6 years from the agreement"STINKS":mad2:,

 

I will still fight for my rights on my own also for a full refund with this greed of a company,

wishing you all the same for a fair and honest outcome to the british people,

[justice4me]

****WON*******WON********WON*********WON**********WON***********WON***********WON*******WON

My Big Fight with Paragone personal Finance is now over:-) and it took less then five weeks on my own,

My donation is on its way and help this website grow and again help others,

Edited March 9, 2012 by justice4me

[ims21]

Fantastic News....well done on your persistence and tenacity

 

:cheer2:

 

Thread title changed to reflect your win

 

Congratulations

 

ims

[justice4me]

Thanks ims21

Edited March 9, 2012 by justice4me

[justice4me]

Sorry we have been away on our holidays and just returned and happy easter everyone.

And thanks Corny90

It was hard work"but it paid off in the end,

[dx100uk]

so what did you get

your full SOC figure ?

dx

[justice4me]

Hi dex,

Yes received the full settlement with 8%,

[dx100uk]

great there are a good few here argueing with them.

 

dx

[justice4me]

Hi,

The loan had not been regulated with this company at the time of my agreement,

As per letter from them"see above"

Please note,

.all the hard work and it was" hard work"

by me alone,

 

As the mods on this website will tell you ( you will need your signed agreement)

This helped me,

Edited April 11, 2012 by justice4me

[ppidan]

Now i find this very interesting as Paragon have declined my settlement on the basis it was pre regulation ! in addition the broker who arranged this who I think was Norton have now gone bust...

[justice4me]

Sorry been mad busy" try again and send me full details"

[OnMyWayOut]

I'm in the same situation where they claim not to be regulated at the time (1999), the PPI was already ticked on the CCA and the FOS haven't been much help. Does anyone have any further information regarding what was needed to successfully make a PPI claim against Paragon?

 

Cheers,

OMWO

[dx100uk]

threads 6yrs old

start a new thread of you OWN please

you wont get seen here

[Kat78]

Hi,

The loan had not been regulated with this company at the time of my agreement,

As per letter from them"see above"

Please note,

 

.all the hard work and it was" hard work"

by me alone,

 

As the mods on this website will tell you ( you will need your signed agreement)

This helped me,

 

 

Hi

Fantastic news. Paragon were /are the Bain if my life. Can you give me your email address to contact u

[honeybee13]

Hi

Fantastic news. Paragon were /are the Bain if my life. Can you give me your email address to contact u

 

We don't recommend making contact off forum, Kat, for various reasons. The OP hasn't posted on this thread since 2012, it would be better to start a new thread of your own.

 

HB