Paragon Secured Loan - Advice Please

[Lolly68]

If anyone can help would be very much appreciated.

 

Back in 2008 I took a £10,000 loan out with Paragon Personal Finance. I got myself into financial difficulties over the years (due to redundancy back in 2010 and my father being poorly and dying in 2013) and have just sold my property exchanging today with completion set for the 17th.

 

The charges I am facing are as follows:

 

Current Balance: £9,784.57

Arrears Balance: £3,014.53

Fee Balance: £2,006.21

 

I have noticed on their statement of charges (attached) that they are charging me interest on arrears, interest on fees and normal interest of £71.07 per month.

 

Do you think the current balance is including the arrears and fee balance?

 

I have written to them asking for a breakdown of all costs and can they write-off the fee balance but have not heard back. I don't want to speak with them as find them quite rude sometimes.

 

Thanks

[ericsbrother]

the arrears and fees are probably just made up and not enforceable. As for interest charged on them, that will depend on the terms of the agreeemnt in the first place and wheher that was a fair contract. Generally speaking though the fees will be unenforceable as a debt because they will be unfair or incorrectly applied or calculated.. You need to look at all of the previous paperwork and do a bit of back calculating to see where they all come from. A snapshot like this doent really help explain anything