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Is Repayment Cover the Same as PPI

Is repayment cover the same as PPI? That is a very good question and the answer is yes. PPI stands for payment protection insurance and repayment cover is exactly the same thing. This is something very important to keep in mind when speaking with a lender. Because of all the hoopla on payment protection in the media lenders are looking for a prettier way of saying the same thing. They do not want to alarm borrowers by using the term PPI so instead the say loan protection, income protection and even repayment cover. So, when asking yourself is repayment cover the same as PPI, always remember that it is just the same.

PPI - Is it a Racket?

Most people would agree that PPI has definitely become a racket and one that has brought lenders billions of pounds collectively. Of course the bad part is that the consumers are the ones paying all this money. The term repayment cover certainly seems promising, however, it is not. This is because it is a rare occasion in which a person who pays into PPI cover can actually receive benefits. This is mostly due to the fact that lenders are selling the cover to anyone and everyone. This means that whether you are 16 or 73 you can be sold PPI and in either case your age would probably keep you from qualifying. So in answer to the original question, we at Belmont Thornton do believe that in most cases PPI is in fact a racket. This is not to say that there is no one who has ever benefited from PPI but more times than not the cover has proven worthless. This seems to be causing many people to file payment protection claims.

What to Do Once You've Been Mis Sold PPI

If you've been mis sold PPI you are very fortunate to have noticed this at a time like this. There are thousands of people getting PPI refunds as a result of new guidelines and stricter regulations placed on lenders. The key to getting a refund is handling the situation correctly. Timing is important but even more than that is how you file your claim. You may be considering hiring a solicitor to help you but this is an extremely expensive solution and one that you may not be able to afford. Instead, it would be wiser to go with a PPI Claims Company such as Belmont Thornton as we have the experience to help you expedite your PPI reclaim quickly.

We can help you by offering you a free consultation to go over your options and discuss your strategy. In addition, we do not charge for anything until the entire process has come to a close and you've been given a refund. If for some reason you do not get a refund and your claim is denied, both initially and during appeal then you will never pay is a pound and we will part amicably. However, we feel confident that if you've been mis sold your PPI and can prove it that there is an excellent chance of receiving a refund.

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