Paragon PPI

Glennyw · 2nd July 2009, 13:25

Hi - I had posted this on an existing thread and some very nice people suggested that I start a whole new thread just for me - so here goes!

I am new to this PPI lark and I have just started the process with Paragon. I borrowed £25,000 from them in September 2004 and was charged £4,200 PPI which was added to the loan. Interestingly the loan was in joint names of my then partner and I yet the insurance was only in my name(?). I settled the loan in July 2007 and in the final statement was charged all sorts of settlement fees etc but received a rebate of almost £300 PPI premium.

I have written an initial letter stating that the premium should not have been added to the loan and also informing them that I had not been asked about exisiting health matters to inform the insurers. I have received a letter from Paragon - very patronising stating that they are 'concerned that I feel I have been mis-sold premium protection insurance'. They then inform me that my application was submitted by Loanmakers Limited??? All my dealings were with paragon - I have no paperwork from Loanmakers.

Should I continue to pursue this with Paragon?

I would be grateful for any help from anyone on the forum... you all seem very experienced in this. Thanks in advance

dx100uk · 2nd July 2009, 13:53

browse down this list and have a read of the threads about the paragon tactics.
should point you in the right direction...

http://www.consumeractiongroup.co.uk...archid=2534527

dx

Glennyw · 3rd July 2009, 12:43

That's where I transferred from Dx... some useful stuff in there!

alanalana · 4th July 2009, 05:25

Quote:

Originally Posted by Glennyw

Hi - I had posted this on an existing thread and some very nice people suggested that I start a whole new thread just for me - so here goes!

I am new to this PPI lark and I have just started the process with Paragon. I borrowed £25,000 from them in September 2004 and was charged £4,200 PPI which was added to the loan. Interestingly the loan was in joint names of my then partner and I yet the insurance was only in my name(?). I settled the loan in July 2007 and in the final statement was charged all sorts of settlement fees etc but received a rebate of almost £300 PPI premium.

I have written an initial letter stating that the premium should not have been added to the loan and also informing them that I had not been asked about exisiting health matters to inform the insurers. I have received a letter from Paragon - very patronising stating that they are 'concerned that I feel I have been mis-sold premium protection insurance'. They then inform me that my application was submitted by Loanmakers Limited??? All my dealings were with paragon - I have no paperwork from Loanmakers.

Should I continue to pursue this with Paragon?

I would be grateful for any help from anyone on the forum... you all seem very experienced in this. Thanks in advance

If your Consumer Credit Agreement was signed by Paragon on Paragon paper then Paragon are the target. They will blame the broker and vice versa. As you say you have no CCA with loanmakers, this is just another way for Paragon to try and avoid a claim on mis-sold PPI.

Paragon may state that the application was submitted by loanmakers but an APPLICATION is not a Consumer Credit Agreement within the terms of the Consumer Credit Act 1974.

This is a link to the Act.....

http://www.statutelaw.gov.uk/legResu...=1&SortAlpha=0

aa

Glennyw · 9th July 2009, 11:08

I have had an acknowledgment of my Subject Access Request from Paragon stating they would provide me with the information within 40 days. I shall wait to see what they send me....

alanalana · 9th July 2009, 20:29

When it pitches up make sure you get everything you asked for after all you have paid for it

aa

Glennyw · 13th August 2009, 15:23

I don't think I have received anything like what I asked for. I will scan and post the letter and paperwork received. I notice that I received a one page 'application' from Loanmakers. it is a simple form with no signatures - just my details in type. I also notice that I have no policy documents for my insurance. I may need a lot of advice from you guys as to what I should do next. Will be back later with all the info.

Thanks in advance

Glennyw · 24th August 2009, 14:09

Please can someone tell me how to add scans? Thanks

Glennyw · 24th August 2009, 14:13

Think I have got it! I received these together with a statement, payslip, some strange appendices and mortgage deed/charge. Any advice as to what I should do next is very welcome.

ltr pg 1.jpg

Ltr pg 2.jpg

agreement.jpg

loanmakers.jpg

Glennyw · 24th August 2009, 14:14

oops too small will try to make them bigger!!

pompeyfaith · 24th August 2009, 14:20

go to Image hosting, free photo sharing & video sharing at Photobucket make account the upload and edit out personal details using the rubber save then post the link into this thread

Glennyw · 24th August 2009, 14:22

ltr pg 1.jpg

Ltr pg 2.jpg

agreement.jpg

loanmakers.jpg

Glennyw · 24th August 2009, 15:46

At last - thank you PF.

Any help will be graefully received! Thanks in advance.

pompeyfaith · 24th August 2009, 16:41

thats better glen ill have a look this evening as im using my nokia to browse at the mo and screen not big enough to view docs !!

pompeyfaith · 24th August 2009, 16:44

yup photobucket good to store to incase your pc crashes

pompeyfaith · 24th August 2009, 16:49

oh the top doc has your address and account no still on i would take that page off and edit before putting back on

Glennyw · 24th August 2009, 17:02

Thanks PF - I had taken the address off the top of the letter - forgot about the heading. All fixed now.

pompeyfaith · 24th August 2009, 21:39

Blimey do you know what 180 payments of £355.35 comes to ? well i will tell you £63,963.00.

Oh and paragraph (B) that is all a load of bull because that commission you are paying so it is your data.

Paragraph (A) is also bull.

As it stands they have not complied with your request time to complain to the Information Commissioner`s Office and send another letter to Paragon.

PF

Glennyw · 24th August 2009, 21:53

PF - thank you so much. I assumed it was a load of BS but I needed someone to confirm. So my next stage is to write to Paragon stating that they have not complied with my request and inform them that I shall be writing to the Information Commissioner`s Office to inform them of same? Should I allow them time to rectify the situation or go straight to Information Commissioner`s Office?

Again - thank you for taking the time to look at this!

G

pompeyfaith · 24th August 2009, 21:58

Go straight to Information Commissioner`s Office they know the law and they have broken it.

As i have pointed out you are not only going for the PPI but also the commission they paid to the insurance provider.

Why should you pay commission that they should pay

Good Luck

I've subbed this thread so i can monitor it ok.

Regards

PF

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