Alliance and Leicester Loan Protection

Most people take out some form of loan during their life time. Whether it is to buy a house, a car or just to consolidate existing debts, the idea of taking on a significant loan is often a daunting one. For many of us the prospect of losing employment and being unable to keep up loan repayments is a real fear and, as a consequence, many people feel secure in the knowledge they have payment protection insurance.

Payment protection insurance, often known as PPI or loan insurance, is meant to protect customers in the event of involuntary unemployment by stepping in to take over their monthly repayments. In practice; however, the cover doesn’t always offer the protection you would expect.

In 2006 the Office of Fair Trading and the Financial Services Authority investigated payment protection cover. The investigations found some serious issues with the way the cover was being sold and several lenders were fined. During the investigations, sales of Alliance and Leicester loan protection were examined and it was found there were some key problems. Telephone sales made between January 2005 and December 2007 were scrutinised. The Financial Services Authority particularly highlighted the fact that Alliance and Leicester had ‘recommended’ cover to customers who may not have wanted or needed it.

If you believe your Alliance and Leicester loan protection policy was mis-sold you have the right to make a complaint for mis-selling. Where mis-selling is proven, you may be entitled to thousands of pounds in compensation.

You may also be entitled to make a complaint if you have paid unfair credit card charges after another investigation by the Office of Fair Trading, in 2006, found that some lenders were charging over the limit and late payment fees that were unfair. As a result of the investigation, most lenders have now lowered their fees, but if you have paid unfair fees in the past you may have the right to make a complaint. To find out more about claiming back bank charges, speak to a member of our team on 0207 471 2000.

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Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273

Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.

Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.

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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.