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Loan Charges Reclaim

If you believe your lender, credit card issuer, broker, or bank has sold you a payment protection insurance (PPI) policy without your consent, or convinced you to purchase a policy that you were not eligible for, you may want to file a loan charges reclaim. Reclaiming your long charges will give you the much needed repayment assistance that you may have already been denied for when attempting to file a claim against the PPI policy. Fortunately, you can begin reclaiming loan charges caused by payment protection insurance policy premiums today with the help of a qualified PPI company like Belmont Thornton.

How Long Does a Loan Charges Reclaim Take?

The whole payment protection claim process from start to finish normally requires anywhere from one to two months, based on multiple factors, including the bank's willingness to provide reimbursement. While the exact period of time it takes to recover PPI payments may differ for each client, the consultation process can take place in less than 30 minutes, after which you'll be sent a claims pack in the post. Borrowers that choose to utilise the assistance of Belmont Thornton will not be obligated to spend anything unless their reclaim is successful. You can help expedite the loan charges reclaim process by providing as much proof as possible and offering accurate input during the consultation and claim initiation process.

How Much Can I Receive from a Loan Charges Reclaim?

Surprisingly ,an unsecured personal loan worth £20,000 can carry a PPI policy that costs as much as £7,000 - £10,000, which is a significant refund that can provide substantial repayment assistance for borrowers that are successful in filing a loan charges reclaim. A typical PPI policy can cost anywhere from 15 to 50% of the total loan amount, however cardholders usually pay monthly charges that are equal to about two to three percent of the balance. In other words, a cardholder that maintains a credit card balance of £500 each month may be required to pay as much as £10 to £50 monthly (£120 to £600 per annum) in payment protection fees.

Grounds for a Long Charges Reclaim

Consumers are supposed to be regarded ineligible for a PPI policy if they were older than 65, under 18, received income through a home business, had a temporary job, were participating in a full-time college education, or already had a similar policy through their workplace when the loan was finalised. Those that were sold a PPI policy regardless of aforementioned the eligibility requirements should endeavour to reclaim PPI payments without delay. If you think it can be proven that you were sold a policy inappropriately, you may be victorious in reclaiming PPI payments. The majority of debtors file a loan charges reclaim against a lender because they feel that they were not specifically notified on how the policy works, what type of assistance it can provide, and how much it costs.

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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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