Reclaiming from Paragon Finance when brokered by Click Finance Limited who have closed down.

[Area51]

Good evening.

 

Summary

I have recently paid off a secured loan with Paragon Finance and this contained PPI; the loan was brokered by Click Financial Limited.

 

After reading many threads I opted to complete a claim back using the forms provided on this site, this I did in January.

 

Paragon have replied recently to say they do not wish to handle the claim as it is before 14Jan05.

They have also indicated the business who handled my application, one Click Financial Limited, is no longer trading.

 

I have been advised to direct my enquiry to the CAB, after two sessions of over 20mins on hold I have given up and opted to try for some advice on here.

 

I have checked Duedil etc and it appears Click Finance are dissolved, an associated business with same directors to this was wound up in January 2013.

 

Can you tell me if I can progress this claim in any way?

 

Surely Paragon have a responsibility for their intermediaries / introducers activities (ie ensuring they do not miss sell)..

 

My letter from Paragon states it will be their last correspondence on the matter.

 

Any assistance on next steps to recover the PPI would be greatly appreciated.

 

The secured loan was repaid in Aug2012, this was ten years early and the PPI (£4k) was a lump sum added to the loan for the duration.

 

Any assistance will be greatly appreciated.

 

Many thanks, Area51

Edited March 7, 2013 by Area51

[dx100uk]

under sec 56 of the cca paragon are responsible for the action of their 'agents'

 

Consumer Credit Act Section 56. refers...

— (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.

 

 

i would write back to them outlining the above.

 

under FSA guidelines they should not be fobbing off reclaimers with this excuse in one letter.

[Area51]

Hi and thanks for this input.

 

Can you tell me if there is a specific format for this letter to be sent in and also how do I address the comment from Paragon my loan was before 14th Jan 2005. It was taken out in June 2004.

 

Many thanks

[dx100uk]

suggest you have a read around a bit before you rely

 

just include the sec 56 stuff in it.

 

as for 'not being regulated' tough luck

 

the fsa guidelines make ref to companies using such as a get out clause

 

it was still mis-sold.!!

 

hae a look at the RED stickies in this forums homepage here:

 

http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?111-Payment-Protection-Insurance-(PPI)

 

dx

[Area51]

Morning again, thanks for the extra input here. I will read over and give it a go.

 

Thanks for the reassurance, I did not think they would be allowed to walk away because their "introducer" has now ceased to trade; I mean they would have need to check and appoint them..

 

Their response & approach just ensures people do press home a claim against them!

 

Thank you again.

[Area51]

Morning all, sorry to resurect this again..

 

I have today received further correspondence

(I appointed an independant agent to help pursue this PPI)

to say the Financial Ombudsman Office is of the veiw that Aviva was not responsible for the sale of the product I had.

 

Any claim should be against Click Financial Ltd but as they are insolvent and went into administration,

and because the product was sold prior to 14Jan05 then a claim could not be made against the Financial Services Compensation Scheme.

 

The agent offers apologies and has closed their files.

 

Is there anything else that can be done to recover the cash from this PPI [problem]?

 

Many thanks

[dx100uk]

quite common now 2yrs on

 

 

pitfalls of leaving it too late sadly

[Area51]

Hi there, I submitted the original claim and was rejected, but appointed an agent in 2105.. no hope on this then in your experience?

Thanks in advance

[dx100uk]

urm are they bust.

website address of this is telling

https://www.clickfinancial.co.uk/

 

 

go check a few addresses now and then

[Area51]

Hi there, it was a paragon loan brokered by click finance.

The click finance I dealt with ceased trading..!

 

I'm really starting out again as the agent has been firing me emails every four weeks saying he is waiting to hear..

 

 

Even though it was before 2005 (took it out Jun2004) I only became aware of the front loaded PPI when I cleared the loan when selling a property 4 fours back.

Since then I have been trying to pursue it (from Feb13)..

 

The insurer was London and Edinburgh Ins Co and they are a part of Aviva who are still trading...

 

My claim was started soon after clearing it and during height of PPI news coverage.

. the timescale since then has been due to waffling letters saying to this agent the ombudsman is too busy to look at it..

 

Can you suggest any further steps worth tyring? Not too keen on giving this up!

 

Many thanks for your input here

[dx100uk]

I notice you've not read any like threads on this forum?

 

 

time to get reading then..

 

 

this one is telling..

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?334947-paragon-personal-finance-PPI-back-to-the-90s-***-WON-WON-WON-***

 

 

the others

https://cse.google.co.uk/cse?cx=partner-pub-8889411648654839:6449422593&ie=UTF-8&q=Paragon+Finance+PPI&sa=Search+CAG#gsc.tab=0&gsc.q=Paragon%20Finance%20PPI&gsc.page=1

[Area51]

Thanks for this, only after my original post in 2013 - I had read some threads, but after the letter I received today I came straight back to here.. will look over the links now provided. Thank you

[Area51]

Hi again, thanks for the links..

 

 

checking a few of these they dry up around 2012/13 ish and some fail to demonstrate an outcome..

. One says won won won, but I'm unsure if legistaltion has changed since this!

 

As I had an agent acting for me and he has stated the Ombudsmon office is of the view Aviva was not responsible;

would I be right in looking for reading on pursuing a review of my claim;

but doing this myself with a new claim?

 

 

Quite a few suggest Paragon are master at fobbing off and frustration..

more cover was underwritten by London & Edinburgh which is Aviva.

. So they should come to the table on this and settle,

however the Ombudsmon office is of the view Aviva was not responsible??

 

Any ideas on next steps from here?

[dx100uk]

i'd suggest he issued a claimform.

 

might be your route too.

 

you can escalate it to the ombudsman himself.

 

I take it by agent you used a CMC then?

 

have you the agreement

is it unregulated

has it got the PPI box unticked.

 

need to see paperwork in PDF format.

[Area51]

Thanks, I will get a hold of the paperwork I submited via this guy and review it and then get a copy to you.

Its in PDF already from what I sent to him.

 

I am just responding as I type as the letter only arrived a few hours ago and I am bit annoyed at the time this guy has let pass or explanation on the other avenues that may be open for me. He has just stated his file is closed!

 

Will reply shortly

Thanks again for your time and input here, it is apprecaited.

[Area51]

Hello again..

 

This is the agent used was the wallis conslutancy in Hertfordshire. unable to post a link to it as below 10 posts!

 

I have a copy of the agreement - it is unregulated credit agreement from Paragon, sold to me by click finance of Hampshire (now in liquidaton) who state the are members of FISA

 

Box was ticked for single PP cover but not by me, agreed on phone call as preferred way to seek loan approval by click finance agent.

 

Insurance cert is via London and Edinburgh an Aviva business

 

Thank you once again

[dx100uk]

surely you mean CONSULTANCY.....:tape:

[Area51]

Oh dear........................

[Area51]

My sincere apologies, I will amend now.. and look for a bar of soap..

[Area51]

I cannot edit! YIKES.

 

For the sake of good order, the above post should read Wallis Consultancy... my own typo in the original thread entry can no longer be edited.

[dx100uk]

I dunno I think its quite funny really..

 

 

dx

[Area51]

Typed in error and haste... any ideas on my next step at all... ?

 

Thanks in advance.

[dx100uk]

Could the FISA involvement mean anything

 

Keep investigating all routes

Cant see why other appear to get it and you've hit a wall