Can I Still Claim Back Bank Charges
Payment protection insurance or loan insurance the types of insurance in which borrowers are offered protection on financial services. The financial services that loan insurance cover range from credit cards, bank loans, store cards, mortgages, and car payments. Loan insurance offers protection by providing assistance in case of unemployment due to illness or hospitalization on the financial services that it covers. Payment protection insurance in essence was protecting borrowers from a financial crisis such as repossession or foreclosure.
The Lenders Role
Lenders manipulated the way payment protection worked and used payment insurance against the borrowers. Lenders many times sold payment protection policies to anyone who applied for a loan of any sort. Lenders did not care whether or not the person applying for the loan would be approved for payment protection according to the requirements for eligibility set forth by the payment protection insurance companies .Lenders only wanted to sell payment protection insurance in order to charge interest on the monthly payments regarding the loan and the insurance policy. By lenders not getting information from the buyer as to whether or not they will qualify for payment protection insurance or not is referred to as mis-selling. Mis-selling PPI is the sole requirement for receiving a PPI claim. Many people who were mis-sold PPI had already changed accounts or paid them off and are just now receiving the information that payment protection was a scam want to know information regarding bank charges associated with these accounts.
Bank Charges Frequently Asked Questions
When getting advice from a professional claims management company, here are some of the questions and answers you are likely to hear:
Can I still claim back bank charges on a paid off bank loan?
Yes, if you are mis-sold payment protection you can claim back charges even if you have paid the bank loan that the payment protection was applied to.
Can I still claim back bank charges if the account is closed?
Yes, even if the bank account is closed that has charges on it associated with the payment protection claim you can claim back those bank charges if you can provide the original documentation that shows where you were charged.
Can I still claim back bank charges if I don't have payment protection insurance anymore?
Yes, you can still claim back bank charges even if you don't have payment protection insurance if you can prove you had payment protection at the same time the bank charges occurred.
Can I still claim back bank charges if I don't have paperwork regarding payment protection insurance?
Yes, even if you don't have the original paperwork regarding payment protection missed your claimant charges if it had been less than six years because banks have to keep the original documentation for a mandatory six years.
Can I still claim back bank charges if my payment protection insurance policy has already paid them?
Yes, if it can be proven that you have been mis-sold payment protection you can recoup any money paid to the payment protection company or by the payment protection company because lenders are the ones who are in the wrong you just may be one of the lucky ones who was sold payment protection insurance and qualified.
Can I still claim back bank charges on accounts older than six years?
Yes, people can claim back bank charge the account older than six years if they have the original loan documentation needed.
If you have any further question, contact Belmont Thornton on 0207 471 2000 to speak with a claims specialist today.
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