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Loan Insurance Recovery

In the beginning, when the Citizens Advice Bureau took note of the fact that lenders throughout the UK were mindlessly selling payment protection insurance altogether too often, no one could have imagined that six or seven years down the road it would still present such problems for consumers. Even though major efforts are underway to clean up what has been called the biggest racket to ever hit the lending industry in the UK it appears as though significant progress is still just out of reach. In the meantime, consumers are being urged to seek loan insurance recovery if and when they find they have been the victim of mis-sold payment protection insurance, PPI.

Violating Our Trust

For many people, discovering that they have been mis-sold payment protection insurance is a rude awakening. They wake up one morning to find that the lender their family has been doing business with, sometimes for the better part of a century, has misled them into buying an insurance product that had little or no use to them. The path to loan insurance recovery, under the circumstances, is especially trying. No one wants to believe you that a lender they have come to know and respect would sink to such underhanded methods just to make a profit.

Keeping up with the News

If you have been watching the news of late, especially on the BBC, you will see that market analysts are explaining just how PPI got so out of hand. From the perspective of a lender, very little profit is made on savings accounts and on certain types of loans. Payment protection insurance, on the other hand, provides incentive for lenders because it is almost pure profit. Borrowers pay anywhere from 13 to 56% of the amount being borrowed simply to have what they consider to be some form of payment protection. There is little cover, as we have all seen, and they are left with no choice but to seek loan insurance recovery.

Lenders Not Reviewing Claims Timely

Those who decide that they will pursue filing a PPI claim understand that the road may not be easy. Lenders are not as quick to give back money from mis-sold PPI as they are to take it from consumers in the first place. Loan insurance recovery may take a great deal of time and effort before realising any success. Many lenders, even though they have been ordered it by government to respond timely, are sitting on claims and not reviewing them as quickly as they ought to. Sometimes it takes intervention from a third-party to spur those lenders into activity.

Belmont Thornton has a successful track record of filing loan insurance recovery claims for consumers and it only takes a brief one or two minute phone call to get your claim underway. Speak with a member of the claims team to discuss any questions or needs you may have. Within just about 24 hours your claim packet will be on its way in the post and all you need to do is completed, sign and date it and send it back by return post. We can help you file for loan insurance recovery without asking for any kind of money up front. We work on a no win no fee*basis so that you can have the peace of mind in knowing a professional is acting on your behalf, one that will not ask for any out-of-pocket payments. The number to call is 0207 471 2000.

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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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