Paragon Finance

[helresa]

OK I have a question here...

 

I had a loan with Universal Credit, which I got into arrears and ended up with a CCJ, which I have been paying up until now. However when I spoke to Paragon Finance they came back with a settlement figure that included interest.

 

Now they claim that they can do this under the aggrement, am about to request the agreement through a CCA letter giving them the required 12 days to give it to me.

 

If they cannot supply the agreement, what would be the status of the CCJ that they obtained in 1998, would I still have to pay that of but not the extra they are claiming.

 

 

Thanks

[Turnaround]

Could you please further explain the link betwen Universal Credit, Paragon, the loan or loans and the CCJ.

 

You imply that the CCJ was originaly from Universal Credit and yet you are asking Paragon, through a CCA for the agreement and also asking for a settlement figure?

 

Am I reading this wrong?

[helresa]

The loan was originally with Universal Credit who we taken over by Paragon Finance. The CCJ was taken out by Universal Credit and I have been paying the money for the last 8 years. When I phoned Pargon who have taken the account over from Universal to request a repayment figure the letter they sent back claims that I owe £2,719.02 under the court order, but they want under the terms of the contract (Which I dispute) £4,952.22

 

Hope that clears things

[Turnaround]

Thanks, for the explanation.

 

Because the CCJ finalised the ammount, so to speak, you dont have to pay any more than that, regardless of what paragon say. They can't add anything to the debt after its been to court ie interest or charges.

 

Sending you a PM

[Turnaround]

Your very welcome......

[lookinforinfo]

Quote=Turnaround=Because the CCJ finalised the ammount, so to speak, you dont have to pay any more than that, regardless of what paragon say. They can't add anything to the debt after its been to court ie interest or charges.

=Quote

Normally that is the case, but you would have to check with Universals

T&Cs as some agreements stipulate that interest can be charged even after

a ccj has been adjudged.

[Turnaround]

Quote=Turnaround=Because the CCJ finalised the ammount, so to speak, you dont have to pay any more than that, regardless of what paragon say. They can't add anything to the debt after its been to court ie interest or charges.

=Quote

Normally that is the case, but you would have to check with Universals

T&Cs as some agreements stipulate that interest can be charged even after

a ccj has been adjudged.

 

Good point and worth checking with PM I sent.

[helresa]

Damm

 

Paragon have replied with the Credit Agreement...... Mind you I am still not convinced that they can add interest after the judgement. Need to read carfully...

[Isiris]

IMO

 

Once the judgment is entered, thats it, No More.

 

Just because it is in the T&Cs is irrelevant

 

Bank charges are in T&Cs remember

[helresa]

just found this on another thread does this apply to me....

 

http://www.consumeractiongroup.co.uk/forum/general-consumer-issues/44360-paragon-finance-help-please.html?highlight=paragon

[Sparkie1723]

I,m incomplete afreement with Isiris, no further chargs can be appied to the judgement sum unless it is taken back to court for a further order to be obtained.

 

Sparkie1723

[lookinforinfo]

just found this on another thread does this apply to me....

 

http://www.consumeractiongroup.co.uk/forum/general-consumer-issues/44360-paragon-finance-help-please.html?highlight=paragon

 

Afraid not. First National were taken to Court by the OFT querying their

right to charge interest after a ccj had been applied in contravention of

rules that said this should not happen. However First National argued that as

it was in their T&Cs that they could. In Court in 2000, the OFT won, but

First National appealed and the decision was reversed in 2002.

http://www.lexisnexis.co.uk/lawcampus/

 

However, if it was not in the T&Cs of Universal, you may have a case for

not being liable for the changed regulations applied by Paragon. And if, when

Paragon acquired Universal, that condition did not apply and they have added it later, your case becomes stronger.