Paragon Bank Plc
Financial Ombudsman decision DRN-5717289 Not upheld
Not upheldoutcome, as published by the Ombudsman
—no sum stated
Thu Aug 28deadline to accept (not the decision date)
The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.
What this decision was about
Irresponsible lending, Support for vulnerable customers
In the Ombudsman’s words
Mr and Mrs B complain that Paragon Bank Plc trading as Paragon Personal Finance irresponsibly lent them a second charge mortgage (secured loan).Irresponsible lending
And they said that, more recently, Paragon has threatened them with repossession, said it would default the loan, demanded unaffordable payments and tried to evict them from their home – even though they are vulnerable.Support for vulnerable customers
Rules cited
FCA CONC (Consumer Credit sourcebook)
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5717289.pdf on financial-ombudsman.org.uk.
The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.