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Cheap PPI Claim

If you've discovered that you have been paying a significant portion of your monthly loan repayments towards a PPI policy, or that a large amount of the overall loan was spent on a one-time PPI policy premium without your consent, you may want to consider taking a PPI refund. With so many UK consumers experiencing similar circumstances there has been an influx of PPI refunds since 2006, primarily because of heightened attention from regulators and authorities such as the Office of Fair Trading (OFT), Citizens Advice Bureau (CAB), Financial Ombudsman Service (FOS), and Financial Services Authority (FSA). Studies have shown that more than 85% of PPI policyholders are denied repayment assistance, and about 40% of policyholders are not even aware of the fact that they have been charged for a PPI policy.

How Cheap PPI Policies Are Sold To Unsuspecting Borrowers

Many customers who are convinced to purchase a PPI policy are in financial distress and are willing to accept loan terms and conditions that are seemingly unfair and even odd in order to gain loan approval. Statistically, approximately 1/3 of the cases brought before the Financial Ombudsman Service (FOS) are related to debtors claiming back PPI on loans or credit cards, whilst almost 2/3 of the incidents examined pertained to various types of loans, while the remaining 40% pertained to home loans and credit cards. There were roughly 30,000 PPI claims reported against dishonest creditors that partook in mis-selling PPI policies during 2009. The FOS estimates that 70,000+ people will attempt to get back payments that were allotted towards mis-sold PPI policies during the next 12 months.

Can You File a Cheap PPI Claim Successfully?

Due to the recent investigations and studies related to the mis-selling of PPI policies, it is now easier than ever to receive cheap PPI assistance and obtain a total refund with no obligations or significant effort on your behalf. According to the Financial Ombudsman Service, nearly 95% of the policies reviewed were mis-sold, which is a startling statistic considering there are more than 20 million PPI policies currently in existence in the United Kingdom, and each year 7 million more are sold. Every year approximately 7 million PPI policies are taken out, resulting in the generation of approximately £5.5 billion in premiums for insurance companies and lenders that are involved in the underwriting of these policies.

PPI Claims Process Reviewed

Given the high rate of honoured PPI refunds during the past 6 years mainly because of heightened attention by multiple financial authorities, every client has a very good chance of obtaining total compensation in 2011. Now that so many financial regulators in the UK have begun recognizing PPI mis-selling as being a prevalent problem, reclaiming payment protection is becoming much easier. Beginning the process of reclaiming PPI is as simple as filling out a claim form and engaging in a no-risk consultation with a cheap PPI claim specialist such as Belmont and Thornton. A typical client can secure complete PPI repayment within 4-8 weeks, which is the same time it usually takes for just fifteen percent of PPI policyholders to claim even the slightest amount of benefits.

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Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit 16, Elysium Gate, 126 New Kings Road, London, SW6 4LZ and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

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