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Advice on Bank Charges

One of the things you really need to watch for when looking for help filing a mis sold PPI claim is that you cannot take advice on bank charges from just any claims management company on the internet. Whilst many of them may, indeed, be able to file a claim for you, it is only legal to provide credit advice if you are licensed by the Office of Fair Trading. Advice on bank charges falls roughly into that category and any claims management firm that doesn't hold a Credit Consumer Licence from the OFT should not be giving any type of credit advice whatsoever!

Check Credentials before Accepting Advice on PPI

There is already enough trouble with mis sold payment protection without adding to your problems by taking advice on bank charges from someone who isn't qualified to give it! Consequently, before asking for counsel on any outstanding bank charges, whether as a result of payment protection or not, make sure you check the credentials of anyone whatsoever who offers to provide guidance.

Bank Charges as Related to PPI

When you took out a loan and the lender sold you payment protection insurance, you may or may not have known that this amount of money was being added to your loan repayment schedule. There are a number of ways in which this can be added, depending on what type of loan you have. Most conventional loans have a single payment premium that is attached at the time the loan is agreed whilst revolving lines of credit have premiums that are based on monthly account balances. Both also charge interest for the amount attached to the loan and it is both the premium and interest that are referred to as 'bank charges.'

Minimum Credentials to Look For

You can see now why a firm should hold a Credit Consumer Licence before venturing to offer advice on bank charges. The bank charges associated with PPI also relate to loans which fall into the category of the financial/credit/lending industry. If you take counsel, you must protect yourself by ascertaining that the company you are dealing with has minimum credentials as follows:

  • Registered to do business in UK with a VAT number provided
  • Registered with the Ministry of Justice that oversees regulated claims management activities
  • Registered with the Information Commissioner's Office to ensure secure handling of personal data
  • Licensed by the Office of Fair Trading with a Credit Consumer Licence

And, these are just the minimum of what you should be looking for when allowing a firm to provide advice on bank charges.

Belmont Thornton, Belmont Thornton, can and does provide all of the above. Beyond that, there are literally thousands of satisfied consumers who have used our services to file claims on mis sold PPI with their respective lenders. We work on a no win no fee* basis so that you can be 100% certain we are not out to take your hard earned money without providing a necessary service in return. Don't settle for anything less than we have to offer! You have already sacrificed too much money to mis sold PPI, and we aim to help you hold on to what you have left. Call the claims team today for advice on PPI bank charges and how to claim them back. The number to call is 0207 471 2000.


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Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

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