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Some consumers notice an odd charge pertaining to an insurance policy on their monthly credit card statement and find that they have been paying for a payment protection insurance (PPI) policy unknowingly. In fact, many cardholders don't even realise that they've paid hundreds or even thousands of pounds towards the policy until the insurance company denies their claim due to alleged ineligibility. If you were told that your payment protection insurance (PPI) was mandatory, or that it would improve your chances of being approved for a loan, you were mis-sold a policy and should begin claiming back personal loan protection charges immediately.

Claims Ratio of Cheap Loan Protection Policies

PPI policies in general have a claims ratio of 20%, which means that 20% of all the money allocated towards PPI policy premiums is given back to policyholders in the form of repayment assistance. When the claims ratio of PPI policies are compared to that of other types of insurance, such as household insurance which has a claims ratio of 55%, it begins to make sense why the FSA has been investigating and scrutinising these policies for the past six years. Whilst the value of a loan protection policy could certainly be considered cheap, the price is actually exorbitant, with a £10,000 unsecured personal loan potentially carrying a policy that may cost as much as £5,600. Fortunately, the entire cost of the policy premium can be received in one lump sum in the form of a PPI refund.

How to Obtain a Cheap Loan Protection Refund

To begin the PPI claims process simply fill out a quick claim form to receive a claims pack in the post that will contain all of the instructions needed to successfully proceed with the claims process. By simply making a couple of uncomplicated inquiries in relation to the loan specifications and details about the lender responsible for mis-selling the policy, Belmont Thornton will analyze your case and offer helpful guidance for claiming back PPI payments. After taking part in a free consultation you can choose whether or not to file a payment protection claim against the lender as per the guidance of a PPI claims specialist, after which the claim process would begin.

If your lender told you that the policy was mandatory for loan approval, or that not purchasing a PPI policy could negatively affect your credit score or limit the amount which could be borrowed, you may have been mis-sold PPI. As long as it can be shown that the PPI policy was mis-sold, either due to deceit or persuasion, you should be successful in claiming back payment protection insurance. If you are under the impression that you were not sufficiently warned about the policy's coverage/eligibility requirements and repayment structure or were indeed ineligible for the PPI policy when the loan was finalised, you might want to think about claiming back PPI.


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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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