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Falsely Sold Payment Protection Insurance

Falsely sold payment protection insurance is rapidly turning into a serious financial problem in the United Kingdom, with 30,000 policyholders filing claims against their lenders in 2009, 50,000 filing claims in 2010, and 80,000 or more expected to file claims in 2011. Furthermore, during the next 12 months anywhere from 5 to 8 million additional PPI policies will be sold, which will likely result in claiming back bank charges 2011 statistics similar to those seen during the past three years. Altogether, these policies are currently bringing in about 5 billion pounds in premiums annually for banks and lenders involved in the sale of PPI policies. If you have already been denied repayment assistance by the insurance company you may want to consider the benefits of filing a PPI claim.

Filing No Win No Fee Loan Claims Rather Than Filing for PPI Policy Coverage

Even if you are lucky enough to receive approval for assistance through a PPI policy: you will usually have to wait at least a couple of weeks to obtain help with even one repayment. Unfortunately, you would also have to be part of the minority of PPI policyholders, as less than 15% will be deemed eligible for benefits. The extremely low number of PPI policy claims honoured by insurance companies is causing a lot of financial authorities to rule in favor of borrowers and conduct studies that revealed the true nature of PPI mis-selling. Sadly, millions of new PPI policies will be sold this year, and an estimated 40% of policyholders are completely unaware of the fact that they have been paying for PPI policy.

How Much Can You Recover by Claiming Back Falsely Sold Payment Protection Insurance?

We know that the majority of our clients will be successful in receiving payment protection refunds, so we regularly work on no win no fee* PPI claims without charging anything up front, while also offering completely free consultations. Although Belmont Thornton will deduct a nominal fee from the total PPI refund, you won't have to pay unless you're able to receive just reimbursement. The typical PPI refund facilitated by Belmont Thornton is usually about £2000 to £3000, depending on the loan amount and policy cost. Individuals with falsely sold payment protection insurance policies that are related to unsecured personal loans that have a value higher than £10,000 may be able to recover higher amounts.

Filing No Win No Fee Loan Claims against Prominent Banks

All lenders are required to provide reimbursement for falsely sold payment protection insurance policy payments, regardless of their current reputation, and many established banks have already been forced to refund millions of pounds. However, a lot of consumers are still hesitant to file payment protection insurance claims against their financial institution because they are afraid that a negative item will be filed on their credit report and their credit score will be affected. You should take confidence in the fact that last year the PPI claim coming helped a large number of United Kingdom residents successfully reclaim PPI.

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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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