Paragon PPI

[leighb4]

Hi just looking for some advice on whether it is worth my time making a claim I have included my agreement for you to have a look at I was sold it over the phone but unsure how.also the tick box was already marked with an x when I revived the agreement .any input is more than welcome .

[ims21]

Hi

 

If the PPI was mis-sold then you can put in a claim.

 

A pre-ticked box is a good indicator that this is the case.

 

Have you got your original agreement and the statements of the loan?

 

ims

[dx100uk]

paragon are coughing quite nicely

 

dx

[leighb4]

Hi , yes I have requested and received back my agreement and statements the policy is for single disability and redundancy cover though the loan was joint,the secured loan agreement was signed 29th December 2005

Amount of credit for

Cash loan £10,000

Duration 60 months

Monthly payment £210

Number of payments 60

Apr(variable) 9.9 %

Total charge for credit £2,606

Interest rate per annum 9.516%

 

amount for credit for

Payment protection loan £1,500

Duration 60 months

Monthly payment £31.51

Number of payments 60

Apr(variable) 9.9%

 

Protection premium £1,500

Total charge £390.60

Interest rate per annum 9.516%

Total price for cover £1,890.60

 

Total borrowed £11,500

Total monthly payment £241.61

 

How much would I expect back?

Edited March 11, 2012 by leighb4

[ims21]

Hi , yes I have requested and received back my agreement and statements the policy is for single disability and redundancy cover though the loan was joint,the secured loan agreement was signed 29th December 2005

Amount of credit for

Cash loan £10,000

Duration 60 months

Monthly payment £210

Number of payments 60

Apr(variable) 9.9 %

Total charge for credit £2,606

Interest rate per annum 9.516%

 

amount for credit for

Payment protection loan £1,500

Duration 60 months

Monthly payment £31.51

Number of payments 60

Apr(variable) 9.9%

 

Protection premium £1,500

Total charge £390.60

Interest rate per annum 9.516%

Total price for cover £1,890.60

 

Total borrowed £11,500

Total monthly payment £241.61

 

How much would I expect back?

 

Hi

 

You can use this spreadsheet to calculate your claim amount.

 

Enter each payment you have made giving the date, description and amount and the sheet will do the rest.

 

Go to the fos website and download a consumer questionnaire and complete it.

 

Send the questionnaire and a copy of the spreadsheet together with a brief letter requiring refund to the lender

 

They will have 8 weeks to investigate and give you a final decision

 

ims

 

StatIntSheet v101.xls

[leighb4]

Hi

 

You can use this spreadsheet to calculate your claim amount.

 

Enter each payment you have made giving the date, description and amount and the sheet will do the rest.

 

Go to the fos website and download a consumer questionnaire and complete it.

 

Send the questionnaire and a copy of the spreadsheet together with a brief letter requiring refund to the lender

 

They will have 8 weeks to investigate and give you a final decision

 

ims

 

[ATTACH]34154[/ATTACH]

 

Do i enter full monthly loan amount or just the insurance amount ?sorry little confused.

[dx100uk]

you are claiming back what you paid on PPI

 

 

dx

[leighb4]

After completing and sending off the fos questionnaire and calculating spreadsheet to Paragon

 

i have today received a reply basically saying my application was submitted to Paragon by Central Capital

and they are responsible for the sale of the loan and the insurance.

letter as follows.

 

Thank you for your payment questionnaire

We are concerned to hear that you feel you have been missold ppi.

your application was submitted to paragon by your broker, Central Capital Limited.

 

They acted on your behalf in processing your application and were responsible for the sale of your loan and insurance,

ensuring you received copies of the terms and conditions of your loan and insurance and the answering any questions that may have arisen.

 

your broker handled all the paperwork relating to your application and only forwarded to Paragon the fully packaged documents after you had signed your credit agreement.

 

As paragon was not party to the conversations you had with your broker regarding any sale of the insurance,we are unable to comment further in this respect.

 

We would therefore ,recommend that you contact your broker directly with your concerns regarding the sale of the insurance.

 

For ease of rerernace we can confirm the last known address for your broker to be (address)

 

We trust this explains Paragons position to you and we hope you receive a satisfactory response from your broker.

 

under the terms of our complaints procedure i am obliged to advise you that you may consider this to be paragons final response.

 

if you are dissatisfied with this i have enclosed a formal complaints procedure which provides details of our trade body to whom you wish to refer this matter

 

What is the next step ? do i persue Paragon or Central Capital ? thanks for your help

[dx100uk]

WRONG!!

 

sec 56 of the CCA rules applies:

 

56.

— (1) In this Act “antecedent negotiations ” means any negotiations with the debtor or hirer—

(a) conducted by the creditor or owner in relation to the making of any regulated agreement, or

(b) conducted by a credit-broker in relation to goods sold or proposed to be sold by the credit-broker to the creditor before forming the subject-matter of a debtor-creditor-supplier agreement within section 12(a), or

© conducted by the supplier in relation to a transaction financed or proposed to be financed by a debtor-creditor-supplier agreement and “negotiator ” means the person by whom negotiations are so conducted with the debtor or hirer.

 

 

and as paragon have just coughed on two ppi reclaims here

 

i'd write back!!

 

dx

[leighb4]

Thanks dx100uk,

 

Could anyone help me word a letter back to Paragon which would include the info dx100uk mentioned about section 56 ?

[dx100uk]

just use what i have put

 

sure and simple

 

dx