Author Topic: My Paragon debt hell  (Read 2760 times)

Paragondebt hell

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My Paragon debt hell
« on: Apr 23, 2008, 03:33:12 PM »
12 years ago in 1996, I took a loan with Universal Credit (at that time part of TSB).The total borrowed was £6000 with monthly payments of £142. All was well for three and a half years until I lost my job and couldn't afford the payments. CAB (Citizens Advice) negotiated with them on my behalf and the interest was frozen, I was paying reduced amounts each month.

I later found out Paragon had taken over Universal Credit and added interest back on. My debt had been down to £3600 and despite already paying in the region of £12k I still owe another £13k.  The monthly interest was more than my monthly payments of £145.

Paragon bullied me into paying even more, £205 a month. Now they are asking for even more a month.

I have started a blog about this - http://paragondebt.blogspot.com/



cuteadder

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Re: My Paragon debt hell
« Reply #1 on: May 12, 2008, 04:12:51 PM »
You can ask them to freeze the interest...

Talk to CCCS regarding this - free advice...