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Claiming Loan Interest

Within the past several years the mis selling of PPI has truly gotten out of control. Payment protection insurance was simply meant to be a cover for those working individuals who would want payment protection in the event that they were suddenly without income due to unemployment or illness. Unfortunately, as many as 85% of those trying to claim benefits were denied. This led to a flood of people filing complaints against their lenders alleging mis sold PPI and most of them began claiming loan interest be returned as well as premiums from those mis sold policies.

Millions of UK Consumers Reclaiming PPI

If you are amongst millions of UK consumers reclaiming PPI because you feel it was mis sold, you may be interested to know that there is a convenient way to file a claim against your lender. The Financial Services Authority, FSA, has established a set of guidelines to follow when claiming loan interest and premiums be refunded. However, since most of us haven't the time to spare interpreting the legal jargon we opt to utilize the services of a claims management company to file on our behalf. Bear in mind that it was a group of solicitors and legislators who wrote the guidelines, which is akin to writing in a foreign language.

Belmont Thornton for Convenient Filing

Belmont Thornton is registered with the Ministry of Justice and has a successful track record of claiming loan interest and premiums back for consumers who have been mis sold PPI throughout the UK. In fact, your claims specialist will help you understand the bank charges in question and that the premium isn't the only refund you are concerned with. Claiming loan interest on those premiums needs to be considered as well!

Claiming Back Interest Along with Mis Sold PPI Premiums

The reason there seems to be so much confusion as to just what is being reclaimed is in the fact that payment protection insurance isn't paid for in the same way as other types of insurance are paid. The premium is generally paid once when the loan is originated and that amount is added to the amount being borrowed. This is why claiming loan interest is just as important as claiming back the premiums. If you were mis sold PPI then the amount of your monthly installments would be significantly higher because you are paying down extra on the principle as well as interest on top of that!

The point of filing in the first place is to gain back all that money you should never have been asked to pay and claiming loan interest on PPI premiums is within your right to do. Your initial consultation will be free of charge and you should know that Belmont Thornton always works on a no win no fee*. If you feel you have been mis sold PPI and would like to begin taking back what is rightfully yours, contact Belmont Thornton claims team on 0207 471 2000.

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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.

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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