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Bank Loan Claim

Payment protection insurance, PPI, has been all over the news of late as there have been so many scandals involving some of the biggest lenders in the UK. However, even though we know that it has been a problem for at least a decade many people remain at a loss as to how to file a bank loan claim when we suddenly discover that we have been a victim of this scandal. Whilst you could contact your lender to ask about reclaiming PPI, you may find that a more formal method of submitting bank loan claims would be a better option.

Why Is My Bank Doing This To Me?

One of the most difficult things for most of us to understand is just why our banks are doing this to us! Many of us have been loyal customers for years and suddenly we find that the very banks we have been doing business with years are charging us for a cover that we never wanted, couldn't use or couldn't afford. Don't feel like you are alone because many thousands of people have been mis sold payment protection insurance. Bank loan claims have been on the rise even though we thought the worst was over.

What Can I Do to Get PPI Off My Loan?

Once consumers get over the fact that their lender has violated their trust the next question on their minds is how to get rid of these charges, how to get PPI off their monthly bills. Unfortunately, it is easier to get PPI than it is to get rid of it, short of a formal bank loan claim. The problem stems from the fact that it is a onetime premium and it is added to the loan before you close on it. If, indeed, your lender snuck it by you, the easiest way to get it off is to file a bank loan claim. If your claim is successful you will be able to reclaim these bank charges and, if your claim is rejected, you still have the option to file an appeal with the Financial Ombudsman Service.

One final thought here is that you need to be able to prove that your lender mis sold loan protection insurance. There is very specific criteria for doing so and if your lender broke any of these 'rules' you could very well qualify for a bank charges refund and in some cases even compensation. If you have any questions as to whether or not your PPI bank charges can be refunded based on mis sold PPI, contact the claims team at Belmont Thornton, 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.

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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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