Any Adivce Paragon Personal Finance Claiming Possession of Property

[pt2537]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

http://hmctsformfinder.justice.gov.u...s/n440-eng.pdf

[pt2537]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

National Debt line used to do a fab fact sheet on time orders. If i get chance ill dig it out.

[PlanB]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

National Debt line used to do a fab fact sheet on time orders. If i get chance ill dig it out.

I can take a hint

http://www.nationaldebtline.co.uk/en...06_time_orders

[pt2537]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

I can take a hint

http://www.nationaldebtline.co.uk/en...06_time_orders

LOL Thanks

[pt2537]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

Id hold the Time order as the fall back position. I would also suggest looking into any irresponsible lending breaches, id also check to see if the creditor was licenced at the time they gave the credit, no licence means no recovery of the money

[KnightRider]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

Id hold the Time order as the fall back position. I would also suggest looking into any irresponsible lending breaches, id also check to see if the creditor was licenced at the time they gave the credit, no licence means no recovery of the money

Thank u Guys !!!! I will look into the Time order. I will u updated on how I get on.... Could someone also nudge me into the right direction on what could be irresponsible lending ????? Is there a website anyone knows of which could confirm if creditor is licensed?//

[KnightRider]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

hey just goggled it they are licensed

[FlamingParrot]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

Thank u Guys !!!! I will look into the Time order. I will u updated on how I get on.... Could someone also nudge me into the right direction on what could be irresponsible lending ????? Is there a website anyone knows of which could confirm if creditor is licensed?//

This is from the OFT: http://www.oft.gov.uk/shared_oft/bus...al/oft1107.pdf

[FlamingParrot]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

hey just goggled it they are licensed

PT was referring to the time when you obtained the credit:

Id hold the Time order as the fall back position. I would also suggest looking into any irresponsible lending breaches, id also check to see if the creditor was licenced at the time they gave the credit, no licence means no recovery of the money

[KnightRider]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

Thank u for ur replies ... Yeah they were licensed when the loan was taken out back in 2007.

[PlanB]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

They have paid off the arrears and stopped the hearing unfortunately they choose to do it over the phone!!!!

This now needs to be formalized. When you say "stopped the hearing" do you mean the hearing was adjourned with no new date listed (most likely), stayed, or that the lender has discontinued the possession proceedings altogether (less likely)?

This matters because if new arrears accrue at a later stage the lender could zap your friend back into court quite quickly using the original summons although this point could be argued in court if the maths doesn't add up. Did your friend acknowledge the summons (there's always a question about how long you need to remain in the property and why before eviction) and/or file any paperwork with a Defence or counterclaim etc before the hearing was listed?

If the arrears identified in the original summons have now been paid in full then your friend needs to check if these proceedings can be 'cancelled' in some legal way. This would mean that the lender would have to start from scratch all over again including abiding by the correct Pre-Action Protocol if they want to seek possession in future.

[Hawk]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

Tell your friend to get his ass along to a solicitor right away. Paragon will not go bust I've been told. I understand from a Paragon collections officer that they are making their money by jacking up mortgege interest rates when borrowers fall into arrears and then going on to compound the interest on the account balance every 3 months to hurry on the date when the house goes into negative equity and then they repossess. This method more than quadruples in time the profit they'd make if they operated the mortgage normally. When I asked him how they got away with that he boasted 'we're able to manipulate the law.'

[FlamingParrot]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

Tell your friend to get his ass along to a solicitor right away. Paragon will not go bust I've been told. I understand from a Paragon collections officer that they are making their money by jacking up mortgege interest rates when borrowers fall into arrears and then going on to compound the interest on the account balance every 3 months to hurry on the date when the house goes into negative equity and then they repossess. This method more than quadruples in time the profit they'd make if they operated the mortgage normally. When I asked him how they got away with that he boasted 'we're able to manipulate the law.'

You realise this thread/story is a year old and they haven't been back... :clock: :clock:

[ProBono9]

Re: Any Adivce Paragon Personal Finance Claiming Possession of Property

[QUOTE=Hawk;437130]These people will not be able to manipulate the law for much longer. They are going to find out that they are not as clever as they think they are. All I dare say is watch for proceedings ten days from now.