Reclaim Mis Sold PPI Against Paragon Personal Finance

Paragon Personal Finance Reclaim Mis Sold PPI

If you have had a secured loan with Paragon Personal Finance, then there is a considerable chance that you may have been mis-sold PPI.

Paragon, was very much, one the main lenders of choice for secured loan brokers before the credit crunch hit the industry hard in 2008. If you took second charge borrowing through a broker like Freedom Finance, Promise or Picture just to name a few of the better known ones, then you may have been mis-sold PPI.

Typically targeting those with bad credit and multiple personal debts, secured loan brokers were famous in the early 2000’s, for dominating television advertising on morning TV. It was a big money game. Although secured borrowing for home owners, made servicing debt more affordable, the cost of getting down to one monthly payment was scary stuff.

Secured loan brokers preyed on the vulnerable. High interest rates, huge broker fees and then a big PPI hit in too. Draw down the new loan and instantly your debt had just gone through the roof. Invariably, the PPI only ever covered the first five years of the borrowing and if you repaid the loan within that timescale, the return of premium on your PPI policy, was often virtually non-existent due to the huge opening commission.

Some Paragon secured loan cases, have even seen a near 90% commission being paid on a PPI premium. Perhaps the most famous Paragon case, has now become known as the “Plevin” case. Mrs Plevin, a widowed university lecturer took a secured loan out in 2006. The broker was LLP Processing (UK) Ltd.








In a judgment laid down by the Supreme Court in November 2014, the commission on the PPI element of the borrowing was declared to be an unfair contract under the terms of the Consumer Credit Act – Sections 140 A-D. The commission generated on a PPI Premium of £5,780, on a loan of £34,000, came in at a whopping 71.80%. Or put another way a nice little earner for the broker of £1,870 and an even chunkier amount of £2,280 for Paragon.

Reclaiming for mis-sold PPI on secured loans is often difficult, as the brokers providing the advice may no longer be trading. At Beat the Banks, our team has hundreds of years of banking, insurance and legal experience, designed to recover PPI mis-sold on secured loans where Paragon was the lender.

If you would like to know more, you can call our experts on 01382 200474 or 0800 193 1234.

Paragon Personal Finance And PPI

Some Paragon secured loan cases, have even seen a near 90% commission being paid on a PPI premium.

Typically targeting those with bad credit and multiple personal debts, secured loan brokers were famous in the early 2000’s

Time is running out to make a claim against Paragon for mis-sold PPI, the time to act is now.

From Our Clients

  • “Huge thank you to the team. After attempting to claim PPI myself and getting absolutely nowhere, I got Beat the Banks involved and ended up getting  £12,000. What a result. Beat the Banks made it so easy and were committed right to the end.”

    Shona, Dundee
  • “From previous experience of PPI claim companies, I was a bit dubious if anyone could help me but I thought I would try Beat The Banks. To say I am pleased with the service and conclusion to my claim is an understatement. Beat the banks and my claim handler in particular handled all aspects of the claim from Clydesdale Bank with professionalism, courtesy, and efficiency to secure a positive result on my behalf. I would certainly recommend the services of Beat the Banks to anyone who thinks they have PPI claim, especially with the Clydesdale Bank.”

    Mr A McQuillian
  • “Down entirely to Mike’s hard work, we previously had a successful claim with Clydesdale Bank. Mike was convinced we had more loans with PPI and he was relentless in efforts to recover our paperwork from the bank. Finally, after many attempts, enough records were recovered to submit several claims. We have now received much more compensation, covering loans going back many, many years. If it had not been for Mike and the team at Beat the Banks this would never, ever have happened. Literally, all we did was sign our name and bank the cheque.”

    T & A, Dundee
  • “I was apprehensive about using a company to claim my PPI as I had previously responded to a “cold call” and was pestered with calls. I heard about Beat The Banks on a local radio station and because they were based in Scotland I felt comfortable approaching them. I have had a very positive experience with Beat The Banks. They are not pushy and answer any queries timeously. All the Agents I have spoken to were knowledgeable, polite and friendly. After the initial information gathering conversation, they understood my needs and just got on with my claim. No hassle. Even when it was clear that my claim was of a relatively low value they processed without delay. I would definitely recommend using Beat The Banks …. they put all the other companies out there to shame.”

    Mrs S, Falkirk
  • “Excellent service so helpful, I received a substantial sum back that I had no idea I was due, thank you again to Beat The Banks especially to Gary who was so helpful and efficient in every way.”

    Mrs M, Elgin
  • “We had no paperwork but £52,500 reasons to say thank you, we are now living our Spanish dream! Exceptional service.”

    Dave & Linda , Dundee
  • “Have just found out I have won all my cases with the bank, going back many years and been awarded compensation of just over £15,000!”

    Mr S, Dingwall
  • “We really appreciate the doggedness and professionalism of Jenna and the team at Beat the Banks. This is something we’d never have gotten round to doing and we’re so glad we went through the process with professionals as we’ve now had great results. Only positives have come from the experience.”

    Mr & Mrs M, Shetland
  • “From beginning to end, Beat the Banks have been very efficient. I am very pleased with the service from Jenna and the team. I am highly delighted and I have been recommending all of my friends.”

    Mrs C, Glasgow

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Dundee DD1 1DD

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claim@beatthebanks.co.uk