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Claim Back Loan Insurance

Loan Claim Back

Payment protection insurance, also referred to as loan protection insurance, is supposed to provide protection for borrowers that are unable to make repayments in times of need. However, in most cases the policy does exactly the opposite, consuming funds unnecessarily month after month, or deducting a huge sum from the overall loan amount in the form of an exuberant premium. Despite the fact that payment protection insurance (PPI) has an overall a claims ratio of about 20%, and the lowest claims ratio above that is 55% for household insurance. The claims ratio depicts what percentages of policyholders' investments are awarded by an insurance company each year in claims. In other words, for every pound spent by a PPI policy holder, only £.20 are paid out in payment protection insurance claims.

Don't Default on the Loan Claim Back PPI Instead

Rather than succumbing to financial difficulties and defaulting on a loan, consider the benefits of filing a PPI claim against your lender. Most of our clients receive full compensation within eight weeks, which is similar to the amount of time it takes to receive repayment assistance from a PPI policy. However, with the number of payment protection refunds in the UK increasing each year it is becoming much easier for borrowers to successfully complete a loan claim back. The funds received from a PPI reclaim can give you the assistance needed to repay debts and avoid credit card debt.

Loan Claim Back Challenges

Our PPI specialists have the knowledge and expertise needed to facilitate a loan claim back with minimal input from the client. Simply fill out a quick claim form and you'll receive a pack in the post that will explain how to proceed in claiming back a portion of the loan that was devoted to a PPI policy premium. So long as it can be shown or sufficiently suspected that the loan protection insurance coverage was mis-sold, either through misinformation or misleading salesmanship, you may be successful in claiming back PPI. Many applicants that are already having financial difficulties and are desperate for assistance are so concerned about being denied for a loan that they're almost forced to pay more for a payment protection insurance policy.

Important Loan Claim Back Statistics

Close to thirty percent of the cases sent to the Financial Ombudsman Service (FOS) each year are related to customers reclaiming PPI on credit cards or loans. About two thirds of the incidents looked at pertain to lending products, and another 40% were in connection with credit cards and mortgages. While PPI policies may add up to 15 - 50% percent of the original loan amount, as few as fifteen percent of clients obtain benefits. More than 31,000 claims were filed against lenders in the end of '09, and an estimated 60,000 - 80,000 people may make an attempt to recover PPI payments in 2011.


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Why Choose Us?

  • TickAbsolutely No Upfront Costs. No Win No Fee*
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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 www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* 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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