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Hi,

 

Has anybody made a Consumer Credit Act (CCA) request with Paragon Finance? If you have what has the outcome been or is it still on-going and what has happened so far?

 

We made a request 3 weeks ago and are still waiting to hear from them. It would be interesting to know if anybody else has succeeded in making their loans unenforceable and if there has been any refunds of charges made by Paragon.

 

Thanks

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and if there has been any refunds of charges made by Paragon.

 

You can't not acknowledge a debt and ask for the charges back.

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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Hi,

 

Thanks for your replies.

 

1. This is an unsecured loan.

2. I thought that if after a month of not replying to a CCA request that they were breaking the law (this will happen on 5th August) and the debt became unenforceable and you were entitled to claim for interest charges etc. The initial debt (from 1992 was for £10,000 and in total we have paid them over £27,000 (due to their high interest rates).

 

Please let me know if my thoughts are incorrect.

 

Thanks

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The time scales for a CCA request are as follows:

 

The creditor has 12 working days after the receipt of the request to supply a copy of the agreement. If they do not they are in default (so 13th day is default day).

 

If after a further 30 days (calendar days this time) they can not provide a copy of the agreement they commit a summary criminal offence. You then have 6 months to report this to trading standards.

 

If at any time the creditor can produce a copy of the agreement after commiting the summary criminal offence they can still enforce the agreement.

 

The lack of a copy of the agreement does not mean that the debt does not exist, it simply means that the debt can not be enforced.

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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Hi

 

Thanks for your reply.

 

These dates are confusing. They signed for the letter on 5th July so what date would the 30 calendar date be? Is it 30 days from 5th July or 30 days from 17th July.

 

Sorry to appear thick.

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They signed on the 5th so the first full working day would be the 6th. The 12th working day would be the 23rd (so default started on 24th July). Therefore the summary criminal offence would be committed on 24th August (If the calender month has 31 days or the last day of the 30 days is a a Sunday then it becomes 31 days rather than 30 days).

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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Do you know how much is left to pay on the loan and approximately the amount of charges on the account?

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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They claim we still owe them approx. £10,000 (even after paying them £27,000 already!! ). I'm not sure how much the charges are I did receive a statement from them a couple of months ago and most of the debits are for interest charges.

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Really I meant things like late payment charges which are unlawful rather than interest charges which would have been agreed when the loan was taken out.

 

However, while they are in default of supplying the copy of the agreement they can not lawfully charge interest on the loan and you can if you wish withhold any payment until a copy of the agreement is produced.

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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  • 5 weeks later...

Hi,

 

I was waiting until the end of the 30 day period after requesting the CCA agreement before posting another reply. That has now happened and we still haven't heard a word from Paragon Finance. Any advice on how to proceed would be most appreciated.

 

Thanks

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  • 3 weeks later...

Hi there,

 

Just to keep you up-to-date and to help anybody else dealing with Paragon Finance. We still haven't heard anything from Paragon. Not even a letter saying that we have not paid the August payment. No CCA agreement either which we asked for over two months ago now.

 

We wrote to Paragon again using a letter I found on this site entitled

 

"DEFAULT UNDER THE CONSUMER CREDIT ACT 1974 FAILURE TO PRODUCE AGREEMENT".

 

We still haven't heard from them and we are still not paying them the £318 we were paying each month. We contacted Trading Standards and somebody is dealing with it there. Hopefully we'll come out lucky. After paying over £28,000 for a £10,000 loan I think we deserve to win this one!

 

Wolfhead

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  • 1 month later...

Hello,

 

Just received some brilliant news from the lovely lady at our local trading standards office. Paragon has sent this letter to us.

 

Please accept my apologies for the delay in my response.

 

I have attempted to contact you by telephone to discuss your account, but have not left a message as I cannot be certain I have your up-to-date contact number.

 

Unfortunately, we have been unable to locate the loan agreement for your account. It would appear that your loan agreement was not transferred to Paragon when we purchased your loan from Universal Credit in 1998.

 

In the circumstances, and having regard for your payment record, I have decided to close your loan down. This matter has been communicated to Consumer Credit Counselling Services but we have established that they no longer act on your behalf.

 

Again, please accept my apologies for the delay in communicating our decision to you. If you would like to discuss any matters further, please call me on 0121 712 2188.

 

Yours sincerely

 

 

 

Dave Newcombe

Head of Customer Relations

 

Although this is wonderful news we are still going to try and claim back the charges made by them for various things and also the PPI we claimed for which was later debited back to our account (a little sum of £5500).

 

So my advice to anybody in a similar position (who do not have a CCJ) is to contact your Local TS office (all we did was e-mail them and attached a copy of our letter we sent to Paragon (i.e. the failure to produce agreement letter) and they did all the rest.

 

We are so happy!

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