Help With Claiming Back PPI
Payment protection insurance (PPI), also referred to as loan insurance, is often sold in conjunction with a loan or credit card by lenders looking to earn commissions and increase the overall loan amount. A typical PPI policy can cost anywhere from 13 to 56% of the total loan amount, however cardholders usually pay monthly charges that are equal to about 2 to 3% of the current account balance. The widespread mis-selling of payment protection insurance coverage in the UK is the result of a mixture of negligence and the marketing of biased misrepresentation.
How Long Does It Take to Receive Help with Claim Back PPI?
Most people can secure a full PPI reclaim within four to eight weeks, a waiting period that is roughly the same as how long it usually takes for just thirteen percent of PPI policyholders to receive even the smallest amount of help with payments. Statistically, you have much better chance of claiming back PPI from the lender sooner than you do in successfully filing a claim for policy benefits. Using the services of Belmont Thornton won't just ensure a much higher probability of succeeding in claiming back PPI, it will also greatly reduce the time it takes to reclaim PPI. Given the high rate of honoured PPI refunds during the last six years as a result of greater recognition by multiple financial authorities, all of our clients have a very good chance of obtaining complete reimbursement during 2011.
How Much Does Receiving Help with Claiming Back PPI Cost?
Data publicised by the Financial Services Authority (FSA) exposed that only five percent of the policies reviewed were actually sold legitimately, with the remaining ninety-five percent being mis-sold due to deceitful persuasion and/or false information. If you believe you have been mis sold PPI and need help with claiming back PPI, Belmont Thornton offers a complimentary consultation during which we'll comprehensively assess your case by asking relatively basic questions in relation to the PPI policy and how it was presented. Borrowers that choose to use professional services of Belmont Thornton will not be required to spend any money unless their reclaim is honoured.
What Do I Need to Do to Receive Help with Claiming That PPI?
The initial consultation process usually takes less than 1 day, after which your claim will be resolved by a PPI expert that will provide the information necessary to reclaim PPI. By making a few simple inquiries pertaining to the amount of the loan, loan type, and the lender at fault for mis-selling the policy, Belmont Thornton will review your case and share helpful advice for receiving a PPI refund. Usually, the burden of proof is on the bank that mis-sold you the PPI policy, as FSA reports have revealed that many of the PPI policies are mis-sold. Consumers contemplating claiming back mis sold payment protection insurance this year have an excellent chance of having their claims honoured.
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