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Credit Card Payment Protection Insurance Refund

Millions of credit card holders have been mis sold payment protection insurance for a wide array of financial products, many of whom are now seeking a credit card payment protection insurance refund. However, it wasn't always possible to get payment protection refunds and one group in particular, the Citizens Advice Bureau, fought these injustices in the very beginning. Today, Belmont Thornton, Belmont Thornton, helps thousands of UK consumers file for their credit card payment protection refund and is successfully winning back PPI day after day, claim after claim.

In the Beginning CAB Stood Alone

Perhaps one of the best not for profit organizations that UK consumers have ever seen is the Citizens Advice Bureau (CAB) as it was highly through their efforts that we became aware of the payment protection 'racket', as they call it. Consumers began complaining to them as early as the mid 1990's and as the 'plot' began to unfold it was determined that payment protection insurance claims were rarely being honoured. This led to a focused investigation that resulted in CAB lobbying government for immediate changes to the way in which payment protection insurance (PPI) was sold. CAB insisted that government regulation of such things as a credit card payment protection insurance refund was desperately needed. Consequently, the Financial Services Authority was given jurisdiction over the sale of payment protection insurance.

CAB and FSA Findings

During their investigations CAB and FSA noted that borrowers were being sold inappropriate policies that didn't meet their needs. Unfair sales tactics were being employed, amongst which was high pressure sales. It was further evidenced that many of these consumers who needed to seek credit card payment protection refunds were sold cover they didn't want, couldn't use and didn't even qualify for! Further, some consumers were stating emphatically that they didn't even know that PPI was being added to their credit card agreement. As a side note, CAB found that many of the consumers who were pressured into buying this type of insurance were also mis led into consolidating credit cards and loans because they were flagged as being laden with financial difficulties. The sad part about all this is that every time these consumers were lured into consolidating cards and/or loans, PPI was attached as well. These are the customers who are most in need of credit card payment protection refunds.

Whilst it has been noted that some portions of the lending industry is making some amount of headway in reforming payment protection insurance sales tactics, credit card issuers are still under fire for noncompliance. Recent findings by FSA indicate that claims are still coming in at record speed from consumers seeking a credit card payment protection refund. Belmont Thornton, Belmont Thornton, is successfully filing thousands of claims for mis sold credit card PPI and as a result their clients are winning back money paid into this rather dubious cover. If you feel that you have been mis sold PPI on credit cards, contact our claims team on 0207 471 2000 to claim back what is yours.

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