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Claiming Back PPI Charges

Studies conducted by the Financial Services Authority in 2007 revealed that approximately 95% of the policies that were reviewed could be classified as mis sold PPI. Payment protection insurance (PPI), also commonly referred to as loan protection insurance, is a type of policy that is usually sold in conjunction with personal loans, business loans, mortgages, and credit cards. Mis sold payment protection policies are usually pushed by lenders who want to earn hefty commissions, and the Financial Services Authority (FSA) found that some brokers and lenders even depend primarily on income generated by PPI policies.

How Is a Policy Mis Sold?

A PPI policy is considered to be mis sold when the lender fails to inform the borrower of the policy's terms, conditions, costs, and coverage requirements. Furthermore, it is considered mis sold PPI if a lender convinces the borrower that it is mandatory for loan approval, or that not purchasing the PPI policy could lower the overall loan amount. Unfortunately, many borrowers in financial distress are so concerned about the possibility of being denied for the loan that they are willing to pay extra for a payment protection insurance policy without thinking twice. If you were a victim of similar circumstances, you may want to consider claiming back PPI charges with the proven services of an experienced firm like Belmont Thornton, Belmont Thornton.

How Much Is a PPI Refund Worth?

While the exact total will vary depending on the case details, the average PPI refund ranges anywhere from £2000 to £3000. PPI policies that are attached to personal or business loans with a value greater than £10,000 or credit cards that have been active for several years may stand to gain the most when claiming back PPI. In addition, Belmont Thornton work on a No Win No Fee* basis meaning you pay no upfront costs and nothing if your claim is unsuccessful.

What Do I Need to Prove in Order to Receive a PPI Refund?

If it can be proven that you were ineligible for the policy, or misinformed about the terms, conditions, or cost of PPI, you should be successful in claiming back PPI charges. The staff at Belmont Thornton will analyse your case by asking a few simple questions and then do their best to prove that you were mis sold a PPI policy and are entitled to full compensation. Belmont Thornton aim to get a full refund of all premiums paid for every customer along with 8% in interest.Ultimately, the burden of proof is on the lender that mis sold you the policy, as FSA studies have revealed that many of PPI policies in the UK are mis-sold, so there is a high chance of success for a borrower or credit card holder that is considering claiming back PPI charges in 2011.

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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 B11, 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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