How Can I Claim Back Payment Protection Back
Payment protection insurance (PPI) is a policy type that is supposed to offer repayment assistance when a borrower is unable to make payments, within 'eligible' circumstances. Unfortunately, eligible as defined by the insurance company means that the majority of policyholders will be denied repayment assistance, while eligible from the perspective of many lenders means anyone that is applying for a loan should receive a PPI policy. Sadly, many consumers who are already having difficulties financially are so concerned about the possibility of being denied for the loan that they are in truth willing to pay extra for a payment protection insurance policy, leaving them wondering "How can I claim back payment protection back?" If you've recently discovered that you've been paying for a payment protection insurance (PPI) policy, but are now deemed ineligible for benefits due to the fact that the policy was mis-sold to you by dishonest lender, consider the following to find the answer to the question "How can I claim back payment protection back?"
How Do Lenders Make Money from PPI Policies?
Unsecured personal loans, mortgages, and business loans may have PPI insurance policies included within the total loan amount, which boosts the loan amount and gives the lender a considerable commission. If you're wondering "How can I claim back payment protection back without damaging my credit score?", then you may want to participate in a free consultation with Belmont Thornton, Belmont Thornton. Aside from reducing your monthly repayment costs and lowering the possibility of incurring significant amounts of debt, filing a payment protection claim can provide the funds needed to handle payments that were supposed to be covered by policy benefits.
Prevalence of PPI Mis-Selling
Several well-known financial institutions in the United Kingdom have been fined millions of pounds by the FSA for PPI mis-selling, in addition to being forced to refund the payment protection insurance payments of policyholders. If you were a victim of similar circumstances, you may want to consider claiming back PPI payments with the proven services of a qualified firm like Belmont Thornton, Belmont Thornton. In the year 2009, between 30,000 and 35,000 PPI claims were recorded against unscrupulous creditors that mis-sold PPI. A probable 70-80k people may make an effort to claim back payments that are attributed to mis-sold PPI policies this coming year, finding the answer to the question "How can I claim back payment protection back?" in the process.
How Much are PPI Premium Refunds Worth?
Consulting with the claims team at Belmont Thornton can finally help you to determine how much your claim is worth and in finding an answer to your question "How can I claim back payment protection back?" A £10,000 personal loan can carry a PPI policy that costs as much as £2,500, which could provide a significant refund when claiming PPI insurance back. According to data released by the Citizens Advice Bureau (CAB) a PPI premium can cost anywhere from 13% to an excessive 56% of the amount loaned. In other words, an unsecured personal loan worth £11,000 can carry a PPI premium that costs £5,133! The answer to the question "How can I claim back payment protection back?" is undoubtedly to seek the assistance of Belmont Thornton!
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