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Claims on PPI

In an effort to curb the influx of mis sold payment protection policies in the UK, new legislation makes it mandatory to have a 14 day 'wait period' before consumers can purchase PPI on new loans. Although the British Bankers Association proclaims this a travesty for consumers who will 'miss out' on important cover, citizens advocate groups are proclaiming this a victory in their efforts to curb claims on PPI abuse. At any rate, it merely takes looking at the statistics to make up one's own mind regarding whether or not this legislation was needed.

The Cost of Payment Protection Insurance in the UK

Perhaps the number one reason why there are so many claims on PPI for a refund is the high cost of cover. Statistics show that policies cost anywhere from 13% of the amount being borrowed to more than 60% in some extreme cases. The high cost of PPI makes the cover prohibitive to a great number of UK consumers and if the BBA is correct in their assessment that millions will lose out on cover then perhaps something should also be done about the cost of cover as well!

Claims on PPI Cover Being Denied

However, many people are finding statements released by members of the BBA to be ludicrous in that this particular cover, as it stands, is virtually nonexistent. Most policies have so many exclusions written (in the small print of course) that the average consumer doesn't stand a prayer of drawing benefits from PPI cover. Such things as back injuries, pre-existing medical conditions, mental stress and even receiving sick pay disqualify policyholders from claiming benefits when out of work under those conditions. Thousands of claims on PPI cover are being summarily denied because of those exclusions which should have been disclosed at the time the cover was sold. Failure to disclose pertinent facts is one of the main reasons why claims are being awarded for mis sold PPI.

Getting Help with Claims on PPI Mis Sale

Record numbers of mis sold PPI claims are flooding lenders around the UK which is one of the reasons why government enacted new sales legislation. Nonetheless, those changes cannot stem the tide of claims that are currently pouring in. Although lenders have a time limit to comply with in reviewing those claims, it only takes the slightest error or lack of documentation to have those claims in the post back to the claimant marked as inadequate or incomplete. Getting help with claims on PPI mis sale is of utmost concern to growing numbers of policyholders looking to cancel their cover and get a refund on monies paid in.

Belmont Thornton, Ltd., Belmont Thornton, has been helping tens of thousands of UK consumers file for and successfully win back mis sold PPI. Help is just a phone call away and a professional claims specialist will be available to answer any questions you may have regarding filing a claim back of mis sold PPI. We work on a no win no fee basis which should reassure you that we are here to help you take back what is rightfully yours. Get on the fast track to claiming back PPI - call 0207 471 2000 today.


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