How Do I Find Out If I Have Payment Protection
So many people are hearing the news that lenders have been mis selling payment protection insurance and now they are asking "How do I find out if I have payment protection?" If you have to ask that question there are two possible scenarios. Either you do not have PPI or your lender added it to your loan without your knowledge or consent. Since there are a great number of cases in which lenders have sold PPI alongside a loan without the borrower's knowledge this could very well be the case and there are a couple of ways to go about checking to see if you were indeed mis sold PPI.
Check Your Loan Documents
The first thing you could do is to get your hands on your loan documents if you are asking "How do I find out if I have payment protection?" Because most loans (unlike revolving lines of credit) will have a onetime premium that is added to the amount being borrowed when the loan is originated, it will be quite clear on your closing statement. You will see the amount you borrowed along with any loan origination points, closing costs and of course mis sold payment protection if it is there!
Check Your Monthly Statements
The second way to answer the question, "How do I find out if I have payment protection?" is to check your monthly itemised statements. If you are talking about credit cards you will always have a statement. Some loan statements may or may not give a breakdown of exactly what money is going to what portion of the loan but some may. If you don't have either your loan documents or your monthly statements, you could check online as some accounts provide internet access or you could contact your lender for a copy of the loan docs, the statements or both!
Let Belmont Thornton Help
There are times when we try to get the supporting documents but to no avail. One thing you should understand is that lenders are required by UK law to keep the original (hard copy) loan docs for six years. If you are requesting loan docs for proof of mis sold PPI during that length of time and are being refused, chances are your lender just may be trying to avoid paying that refund! Belmont Thornton, Belmont Thornton, is registered with the Ministry of Justice and has earned the respect of lenders throughout the UK. As a result, the chances are slim that a lender would try to use that excuse with us!
If you feel that you have been mis sold PPI and are asking "How do I find out if I have payment protection?" then perhaps it's time to let the expert claims team at Belmont Thornton go to work for you. Call us on 0207 471 2000 or fill out the online contact form for a call back. Our claims team can work on your behalf to contact all concerned parties to get the supporting documents you need to file your claim and even go to appeals if need be. There is no time like the present to answer the question, "How do I find out if I have payment protection?" because the sooner you find out, the sooner you can file that mis sold PPI claim!
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