Help and Advice with Universal Credit Now Paragon

[johnrs101]

Hi

 

Thanks for taking a look.

 

Back in 1994 I took out a loan with my then partner for £5000 over 84 months with Universal Credit.

 

A few years later I was made unemployed and also got divorced and as a result fell behind with the loan.

 

From what I can remember both myself and my X made separate agreements to pay this back at a reduced amount.

 

I also remember that interest would be frozen.

 

Years passed then all of a sudden I get a letter and to my shock the debt is now over £17,000

 

I have always been making reduced payments on this account and I have written to them asking for a copy of the agreement and also a break down of all payments made to the account since it started. I have included any payment for this information so not sure if they will reply to me.

 

I do have a one sided photocopy of the Flexiloan (no sure where I got this from) and have attached this (personal info has been removed)

 

There is a Paycare insurance box which has my name in it. Is this PPI ?

 

I am waiting for the break down on payments to I can work out how much has been repaid and will post that when I get it back.

 

How long can Paragon keep chasing this debt ? can what I do to reduce this ridiculous amount as this is now a loan I would never be able to pay back. Are there ways to have this debt sorted so I am paying back a sensible amount with reflect the original loan amount. This debt is 18 years now and I would like to resolve it

 

Many thanks for looking and any advice you can offer.

 

J

[dx100uk]

18yrs

 

you are kidding.

 

so what was the reduced payment>

 

dx

[dx100uk]

you ll have to attach a pdf .

 

dx

[johnrs101]

18yrs

 

you are kidding.

 

so what was the reduced payment>

 

dx

 

I wish I was. I have been paying £30 and not sure what my x has been paying.

 

They have recently asked me for a income and expenditure form which they said it was a legal requirement. This is what has finally prompted me to take some action. Something I should have done a while ago.

 

Thanks

[dx100uk]

there is NO legal requirement to tell them ANY of your pers fin det!!

 

only a judge can order that.

 

god this smells.

 

i take it there is no sign of this debt on your cra file?

 

see below.

 

£30 PCM equates to £6480

 

stop paying now!

 

send them an SAR

 

dx

[dx100uk]

oh and that CCA is unenforceable

 

dx

[PGH7447]

ao this is the second of these to crop up in a couple of weeks, musy be a new boy at paragon trying to make a name for themselves by looking through people paying a reduced sum with the interest frozen and then tryingg the it on by backdating the interest - make an official complain to them and see what transpires, and STOP PAYING

[johnrs101]

oh and that CCA is unenforceable

 

dx

 

Hi, Thanks for your really quick replies. Didnt expect anyone to respond this quickly.

 

Can you explain a little more why the CCA is unenforceable (i guessing CCA means Consumer Credit Act)

 

If I stop paying and send them a SAR will that not make matters worse as I have stopped paying or does a SAR mean I am not officially disputing this

 

Just want to be clear on where I stand so I dont go and mess this up

 

Many thanks again

J

[dx100uk]

sar does not dispute a debt.

 

your consumer credit agreement is def not enforceable.

 

 

no canellation rights

no total cost of loan

no details of cost of PPI.

 

etc etc

 

dx

[johnrs101]

So I stop paying them the £30, send them a SAR then what I would need to do as they will coming chasing with phone calls and letters threatening court action and bailiffs

[dx100uk]

where did that cca come from?

 

you could CCA them

 

see if they've got the agreement

 

if not then in 14days you could LEGALLY cease payment.

 

dx

[johnrs101]

where did that cca come from?

 

you could CCA them

 

see if they've got the agreement

 

if not then in 14days you could LEGALLY cease payment.

 

dx

 

I did ask for a copy of my agreement from them a few years back and this is what they sent me.

 

I sent a letter via recorded post on the 13/09/2012 asking for a copy of the original agreement + all payments made.

[dx100uk]

sorry you sent an official CCA request ... yes?

 

if so then thats failed now

 

sent the failure to comply letter and you can safely stop payments.

 

dx

[johnrs101]

This is what I sent them. Dont know if this counts or not

 

Dear Sir/Madam,

 

 

With reference to the above account. Could you please provide a copy of the original loan agreement and a full comprehensive statement of payments and balances from when the loan commenced in April 1994.

 

 

On your recent letter I have noticed that the balance is still significantly increasing and far exceeding the original loan agreement. After 18 year I don’t see the current outstanding balance of £17,156.55 being a fair and justified sum when the original loan was £5000 over 7 years.

 

 

I wish to have the matter resolved and will be seeking further financial advice as I feel that after 18 years the sum of money to clear this debt is unreasonable.

 

 

I look forward to your reply

 

 

Regards

[BRIGADIER2JCS]

Likely to be ignored, there is a statutory fee of £1 payable for this request, take a look at the CCA request letter from the Cag Library.

[johnrs101]

OK. I will send them a CCA request tomorrow and get the clock counting again. Is it 14 working days or 14 days ?

[dx100uk]

working days

 

dx

[BRIGADIER2JCS]

!2 + 2 Woking days. so excludes weekends>

[johnrs101]

Thanks for all your help. I will get this letter sent and report back when I have more information.

 

Cheers

j

[brokebutnotbeatn]

You have already paid back more than the original loan. This will never make it to court. Of course they will shout and scream but tough.

[johnrs101]

Lets hope so. I have sent my SAR today so will see what happens next.

 

Is it a reasonable request for me to ask them to only contact me via letter so I can now keep a record of what happens ?

[BRIGADIER2JCS]

Yes but don't ask TELL them in writting only!!

[johnrs101]

Thanks for the quick reply