Claims - Unsecured Loans PPI
Car loan protection claims
For any motorists who took out financing to purchase a car, there is a good chance that they could be entitled to partial loan refunds if they were encouraged to take out payment protection insurance (PPI) on top of it. Car loan PPI has traditionally been bundled with vehicle financing, but the Financial Services Authority recently began clamping down on the unethical selling of these policies, which often offer little in the way of protection for those who need it. As a result, motorists could be entitled to refunds worth thousands of pounds, something which Belmont Thornton's PPI claims team can help them to achieve.
PPI charges for car loans
Most car loans include some form of payment protection insurance, however regulatory investigations have revealed that this insurance was often mis-sold or not fully explained to people when they took out their financing. Loan protection salesmen are required to have fully explained how much it would cost in addition to the loan itself, and are not allowed to push you into taking out cover against your will.
Car loan protection reclaim
Even if motorists were willing to take out car loan insurance, there is a good chance that they were not made aware of what exactly it covers. For instance, most policies will not pay out if people have pre-existing medical conditions, even if this is something they were not asked about this when they took out the policy. What's more, some people may be entitled to similar cover from their employers, in which case they will not have needed PPI in the first place. Similarly, policies do not cover those who were on temporary contracts from employers when they took out cover or anyone who is self employed, things which may not have been adequately explained.
Car loan refunds
Car loans typically consist of several thousand pounds which can be paid back over a number of years. Among the providers of these types of deal are Sainsbury's Finance, Halifax, Alliance and Leicester, AA, smile, Royal Bank of Scotland and Barclays. However, payment protection insurance can inflate the cost of a personal loan. Belmont Thornton can help you with your car loan PPI claim. By filling out a simple application form you can register to have a claim pack sent to you. Once this is completed, Belmont Thornton will process your claim.