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Claim Back Loan Insurance

Cancel Your Loan Protection

If you have recently applied for or been approved for a loan, then chances are you've been offered a payment protection insurance (PPI) policy before. In fact, you may have already paid for a PPI policy without knowing it. Payment protection insurance, also commonly referred to as loan protection insurance, is a type of policy that offers to cover your repayments if you become unemployed or injured. Surprisingly, a lot of unscrupulous lenders and financial institutions will enroll you for a PPI policy without your consent, charging a hefty one-time premium as part of the overall loan amount. Since the cost of the PPI policy is included within the loan, it is impossible to cancel your loan protection without canceling the loan itself.

How to Claim Back PPI Payments

Fortunately, claiming back bank charges caused by PPI payments as simple as contacting a professional PPI claim company, which can assist you in contacting the necessary authorities and bringing your lender to justice. Since the lender is responsible for ensuring that all enrolled individuals are eligible for PPI policies, it is the fault of the lender and not the insurance company. Thus, when attempting to cancel your loan protection, you'll need to Claim Back PPI payments you've already made, and have a judgment rendered against the lender that causes the terms of the loan to be renegotiated. Alternatively, it may also be possible to cancel the loan without defaulting and continue to make repayments to a different, more honest lender or financial institution.

Reasons to Cancel Your Loan Protection If You've Intentionally Purchased PPI

In some cases, lenders will actually convince you that a PPI policy is either mandatory or highly beneficial, causing you to enroll intentionally. However, a very small percentage of borrowers are actually eligible for PPI, and it is very likely that you are paying for a policy that will never provide coverage when needed. If you are over the age of 65, already have a payment protection policy with another insurance company, or have any pre-existing medical conditions, then you were probably mis-sold the policy to begin with, and it would be in your best interest cancel your loan protection by reclaiming your PPI payments and seeking full compensation from your lender.

What Is the Fastest Way to Cancel Your Loan Protection?

By far the easiest and fastest way to cancel your loan protection payments and reclaim all of the lost funds is to contact a PPI claim company, which can facilitate the process of having your case seen in a timely manner. In fact, after submitting a PPI claim form you should be able to receive a response from a professional PPI specialist within 24 hours. Most claims filed against dishonest lenders for mis-selling PPI are honored, and borrowers usually receive total compensation for every penny spent on PPI unnecessarily. The entire claims process from start to finish should take no longer than 1 to 6 weeks, requires no upfront investment, and you only have to pay if your claim is successful.

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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 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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