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    • In terms of "why didn't I make a claim" - well, that has to be understood in the context of the long-standing legal battle and all its permuations with the shark. In essence there was a repo and probable fire sale of the leasehold property - which would have led to me initiating the complaint/ claim v SPF in summer 19. But there was no quick sale. And battle commenced and it ain't done yet 5y later. A potential sale morphed into trying to do a debt deal and then into a full blown battle heading to trial - based on the shark deliberately racking up costs just so the ceo can keep the property for himself.  Along the way they have launched claims in 4 different counties -v- me - trying to get a backdoor B. (Haven't yet succeeded) Simultaneously I got dragged into a contentious forfeiture claim and then into a lease extension debacle - both of which lasted 3y. (I have an association with the freeholders and handled all that legal stuff too) I had some (friend paid for) legal support to begin with.  But mostly I have handled every thing alone.  The sheer weight of all the different cases has been pretty overwhelming. And tedious.  I'm battling an aggressive financial shark that has investors giving them 00s of millions. They've employed teams of expensive lawyers and barristers. And also got juniors doing the boring menial tasks. And, of course, in text book style they've delayed issues on purpose and then sent 000's of docs to read at the 11th hour. Which I not only boringly did read,  but also simultaneously filed for ease of reference later - which has come in very handy in speeding up collating legal bundles and being able to find evidence quickly.  It's also how I found out the damning stuff I could use -v- them.  Bottom line - I haven't really had a moment to breath for 5y. I've had to write a statement recently. And asked a clinic for advice. One of the volunteers asked how I got into this situation.  Which prompted me to say it all started when I got bad advice from a broker. Which kick-started me in to thinking I really should look into making some kind of formal complaint -v- the broker.  Which is where I am now.  Extenuating circumstances as to why I'm complaining so late.  But hopefully still in time ??  
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    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

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      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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How do i calculate interest on reducing balance?


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Hi,

 

I have a secured loan with paragon, been paying it for 7 years and so far they have charged me over £36k in interest and I have paid £39K so far. My debt has only reduced by £2,800. I want to do a spreadsheet so i can try and work out how my balance will reduce over the years, I know interest rate may change but I just want an idea of how the payments will start to reduce my balacne becasue at the moment I see no light at the end of the tunnel! This should be a 300 month term and I can't see it'll get paid off in time if over 7 years I've only cleared £2,800 off balance. I thought it might help if I culd put my payments in up until end date of July 2030 and use current interest rate just to see if it does look any better and make things a bit clearer for me. Then it should give me some hope!

 

I called paragon and raised my concerns but they just said as long as I paid my monthly payments on time it would be clear by the end of the 300 months but I can't get my head around it.

 

Any ideas how I can do a spreadsheet please on excel?

 

Thanks in advance!

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OK use this spreadsheet

 

Enter the three bits of information at the top and it will give you some idea of how a loan progresses over time.

 

Not that in the early years you pay a very small amount of capital off the loan but a lot in interest. In the later years that trend is reversed.

 

Hope this helps

 

ims

 

LoanAnalysis.xls

 

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Thaks Ims, I was asking Paragon if I pay mainly interest first but she just didn't understand me, Thaks so much, I feel much better now you've said that. I really appreciate your help.

 

P.s hope you read my message on my other post reminding you how amazing you are too lol, it's not just dx that gets my praises hehe!

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spreadsheet is fantastic, thank Ims, can't wait to show my husband when he gets home from the Olympics, it will be a great weight off our shoulders because we can see now how it will reduce. Thank you so so much! :-)

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