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PPI refunds from Paragon

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  • PPI refunds from Paragon

    I have read so much, and already been knocked back in a tentative attempt to get my PPI back. I have never made any claim on the policy - as was told you had to be off work for more than 30 days etc etc.

    I am in arrears with these guys, some £1000..have got down to that level, but am getting snotty letters as regards ANOTHER inocme and expenditure statement - reminding me that they have a suspended possession order. I am making contractual payments at the moment - and they are "endevouring to help me..."

    I have sat here today thinking you are a fool and really should do something about this. I fear I may have missed the PPI boat - and really don't have a clue what to do next - plus I'm scared they may do something with that suspended possession order out of spite.

    I have have attached the loan agreement - and letter to the broker CT Capital in 2015...as it got knocked back I left it.

    Actually, the PPI WAS in fact sold on a if you don't take it you would get the loan basis - PLUS the promise of a refund of the PPI premium if not claims were made on the policy. So much so that even more stupidly I was offer and took a smaller loan out on what they said were preferential terms (with Paragon again) and I declined to have any PPI put on that one as it was not "important" as the loan was a smaller amount.

    Feel a real di**head and somewhat spineless that I haven't done anything about this...

    Obviously I want my PPI back...but is there anything that can be done?

    Your help would be invaluable on this...

    Cheers
    Attached Files
    Tags: None

  • #2
    Re: PPI refunds from Paragon

    Originally posted by Greyfox View Post
    I have read so much, and already been knocked back in a tentative attempt to get my PPI back. I have never made any claim on the policy - as was told you had to be off work for more than 30 days etc etc.

    I am in arrears with these guys, some £1000..have got down to that level, but am getting snotty letters as regards ANOTHER inocme and expenditure statement - reminding me that they have a suspended possession order. I am making contractual payments at the moment - and they are "endevouring to help me..."

    I have sat here today thinking you are a fool and really should do something about this. I fear I may have missed the PPI boat - and really don't have a clue what to do next - plus I'm scared they may do something with that suspended possession order out of spite.

    I have have attached the loan agreement - and letter to the broker CT Capital in 2015...as it got knocked back I left it.

    Actually, the PPI WAS in fact sold on a if you don't take it you would get the loan basis - PLUS the promise of a refund of the PPI premium if not claims were made on the policy. So much so that even more stupidly I was offer and took a smaller loan out on what they said were preferential terms (with Paragon again) and I declined to have any PPI put on that one as it was not "important" as the loan was a smaller amount.

    Feel a real di**head and somewhat spineless that I haven't done anything about this...

    Obviously I want my PPI back...but is there anything that can be done?

    Your help would be invaluable on this...

    Cheers
    You said you made a tentative approach in regards to PPI. Can I ask you when you made that attempt and why you felt that the PPI was missold?
    Do you still have PPI on the loan?
    Is the amount outstanding more than £8442 which is the PPI amount? Have you consolidated loans since that PPI was taken out?
    "Family means that no one gets forgotten or left behind"
    (quote from David Ogden Stiers)

    Comment


    • #3
      Re: PPI refunds from Paragon

      Primarily because at the time and inception of the loan - the "broker" put it to us that the PPI was an integral part of the package - the loan initially wouldn't go ahead at that level of borrowing without the PPI included. Also at the time of the loan, the PPI element was described as being essentially refunded if no claims were made on the policy.

      Once the loan agreement was produced for signature at the death - it states that the PPI is in fact optional. On query of this with the broker - the reaction was that the process would have to start all over again and that the interest charge would probably be higher (since more risky) - anyways the premium was going to refunded after no claims on it right....

      I wrote to CT Capital - was Central Trust - in 2015 but told I was time barred.

      I think their reply is included in the attachment put up...

      There have been not consolidations of that main loan - there was a secondary loan - fast tracked as a small stand alone affair - without PPI included as I was told a loan of that smaller size didn't need the PPI element.

      Comment


      • #4
        Re: PPI refunds from Paragon

        The loan balance is excess of the £8442 in the region of the original principle but I'd have to check for sure Arrears amount to £1000

        Comment


        • #5
          Re: PPI refunds from Paragon

          I have a couple of concerns and have asked site team to have a look at this thread.

          concern 1) I don't buy their argument that the clock started when you received the welcome pack because the issue is that the broker told you when you questioned the issue of PPI that the process would have to start again with the finality being that it would be more expensive because the process would restart if you rejected PPI. That is absolutely false and is fraudulently misrepresenting PPI especially with the repeated thing that the PPI would be refunded at the end of the loan period.

          2) the problem is that you got a letter of complaint and then got a response. WHY were you not here then when you got that response cos I think we could have made the case the FOS because you had the paperwork.? Will try and work out if you can revisit this response that I think is inadequate.

          3) I think you have a clear case of misselling by pressure sales but we will see if other think that we are out of time on going to the FOS or whether we can revisit this issue with the Financial Ombudsman service.

          4) Were you actually eligible for the policy?
          "Family means that no one gets forgotten or left behind"
          (quote from David Ogden Stiers)

          Comment


          • #6
            Re: PPI refunds from Paragon

            Leclerc - thanks for that...on the eligibility bit, as I understand it I think I'd sadly fall into the normal employed guy and missus is employed too,
            Not like we're self employed ...and I appreciate that you think I am of unsound mind having not got on here after the knock back letter...but I am of sound mind (honest), Fact is other stuff got in the way.

            If something can be done with this, I be grateful for your advice - and the rest of the team - and i'll do whatever is necessary.

            Comment


            • #7
              Re: PPI refunds from Paragon

              I have attached the latest letters from Paragon...the big one is the PPI one, and the small is the non-PPI one.

              Balances are shown as are the arrears, and essentially the demand for more income and expenditure stuff
              Attached Files

              Comment


              • #8
                Re: PPI refunds from Paragon

                Originally posted by Greyfox View Post
                Leclerc - thanks for that...on the eligibility bit, as I understand it I think I'd sadly fall into the normal employed guy and missus is employed too,
                Not like we're self employed ...and I appreciate that you think I am of unsound mind having not got on here after the knock back letter...but I am of sound mind (honest), Fact is other stuff got in the way.

                If something can be done with this, I be grateful for your advice - and the rest of the team - and i'll do whatever is necessary.
                To be honest with you the best advice I can give is to give the Financial Ombudsman Service a call and ask them in regards to the timescale for coming back to them. Explain that they are saying that you were over 6 years and you thought that was right but have been told recently that it is incorrect information and that you have the agreement paperwork and that you were told verbally by the salesman that not having it meant redoing a loan and a potentially higher interest rate and the pressures that were on you at the time of the loan.

                I'm not suggesting you are of unsound mind but my concern is whether you are out of time to go to the FOS for consideration. This was the page I looked at in regards to PPI: http://www.financial-ombudsman.org.u...pproach.html#1

                I looked at specifically pressure sales but the circumstances have to be specific.
                I would have a chat with the FOS and see what they think in regards to the fact that you complained last year and was told by the company that they don't have to look at the case due to the timescale: http://www.financial-ombudsman.org.u...act/index.html
                "Family means that no one gets forgotten or left behind"
                (quote from David Ogden Stiers)

                Comment


                • #9
                  Re: PPI refunds from Paragon

                  Hello leclerc
                  I have rang FOS and the nice girl said that there are certain circumstances when they can look at the case again and it is a matter of their discretion. I told them I had contacted CT Capital as the broker who sold me the loan and had been knocked back by them. She said to email FOS with the papers and "mitigating circumstances" and they would consider it.
                  I didn't mention Paragon in anyway other than to state they provided the finance - and I haven't made complaint or other approaches to them. Nor have I found out which insurance company issued the policy or who the underwriters were. I shall write to Paragon to find out.

                  Comment


                  • #10
                    Re: PPI refunds from Paragon

                    Originally posted by Greyfox View Post
                    Hello leclerc
                    I have rang FOS and the nice girl said that there are certain circumstances when they can look at the case again and it is a matter of their discretion. I told them I had contacted CT Capital as the broker who sold me the loan and had been knocked back by them. She said to email FOS with the papers and "mitigating circumstances" and they would consider it.
                    I didn't mention Paragon in anyway other than to state they provided the finance - and I haven't made complaint or other approaches to them. Nor have I found out which insurance company issued the policy or who the underwriters were. I shall write to Paragon to find out.
                    In that case, we might still have a chance but remember that you noticed the PPI as being optional after being told that you had to have it. You queried it and the issue for me is about the necessity for the money and the pressure on you to get that money because clearly you spotted it at the outset.

                    The secondary issue I was talking about was in regards to the policy. Some policies would have life cover but you might have death in service cover with your own job(i know that at one time, I was worth more dead than alive ).
                    In regards to length of policy, if you had retired during the policy then it is a waste of premiums.
                    It's looking at the minutiae of the policy which might unpick the advisor as well.

                    My feeling is that the issue of pressure is the key aspect of it but if there's more then there is more, lol!
                    "Family means that no one gets forgotten or left behind"
                    (quote from David Ogden Stiers)

                    Comment


                    • #11
                      Re: PPI refunds from Paragon

                      Hello Leclerc my friend,

                      I have sent the following with covering email to our friends at FOS...this comprises one of the attachments - the others I won't bore you with.

                      Cheers
                      Attached Files

                      Comment


                      • #12
                        Re: PPI refunds from Paragon

                        Hello,

                        Just wondering if I've tried to make a complaint against CT Capital and if I'm (possibly) time barred by the FOS....do I have the opportunity to "turn my guns" on another party to the loan deal, particularly in regard to the PPI refund I was supposedly due?

                        Cheers

                        Comment


                        • #13
                          Re: PPI refunds from Paragon

                          As a way to get partial redress, it is highly likely that you have a "Plevin" claim as the commission paid would have been over 50%, see https://debtcamel.co.uk/ppi-deadline...t-2019-plevin/.

                          Comment


                          • #14
                            Re: PPI refunds from Paragon

                            Thanks for that Debt Camel....
                            So to be clear, I have a late claim against the CT Capital people who sold me the PPI malarkey...I have to make a case to the FOS as to why they should take up a very late claim on my account
                            I wrote to CT Capital in 2015...got knocked back, but in the period after the knock back got ill with some serious stuff which took priority - and I fell out of time to follow up whilst concentrating on still being about the place.

                            Anyways, I have never made any formal complaint to Paragon, the loan provider until the other day. A "PPI refund" was supposed to be released by them. A copy of the email...with apologies for the bad spelling, never type in anger, is attached.

                            On this premise do you feel that a "Plevin" compensation claim is least achievable? Should I pursue this is a "second claim" with the FOS.

                            Your assistance is appreciated...
                            Attached Files
                            Last edited by Greyfox; 4th March 2017, 14:19:PM. Reason: fat fingers

                            Comment


                            • #15
                              Re: PPI refunds from Paragon

                              If you can produce evidence of ill health, you may still be able to take the 2015 complaint to the Ombudsman. I would suggest this first as a plevin complaint as a fall back. You probably can't actually progress a plevin complaint at the moment, the rules come into force in August this year.

                              Comment

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