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Loan Protection Fees

Many people do not realise when they go into a financial institution looking for a loan that there may be many hidden surcharges attached to that loan. One of the most common of these is loan protection fees. If you do not know that loan protection, also called payment protection insurance, is then this constitutes what is called mis sold PPI. When this happens, people usually wind up having to go and file a PPI claim. Loan protection insurance is supposed to work by offering a way to help pay the monthly loan payments when a person cannot work for some reason usually due to being laid off, illness or injury. The problem is there are just so many restrictions in regards to who can receive cover that most people do not even qualify. Sadly, lenders have not shown much of an interest in telling people about loan protection fees and regulations and as a result there are millions of people filing claims.

The Lender's Responsibility

Whilst no one is here to speak poorly about any one lender, generally speaking, many of them in the UK seem to have gone slack on their responsibilities. It is up to a lender to let the borrower know anything and everything about loan protection cover prior to selling the policy. A lender is also responsible for telling borrowers about any and all loan protection fees that may be added to the loan. There are several different types of loans and with each the lender is responsible for being sure that loan protection is sold in the correct way and only to those who are eligible for cover. If a lender has knowledge that someone will be disqualified for collecting PPI benefits then it is up to that lender to let the borrower know that PPI is not possible. In addition, no lender should be pushing PPI on anyone.

What If My Lender Was Irresponsible?

If you went for a loan and were not given all of the information surrounding the loan protection policy or loan protection fees attached to you loan then it is with your right to request a refund. This is especially true if you recently tried to file a claim to get assistance with your payment and were denied. At this point contacting Belmont Thornton, the PPI claims management company would be a very good idea. Not only are we well experienced in matters such as these but we know how to help you prove your case. We have a claim form right on our website or we can always be reached by phone.

There is no reason to sit back and watch your money go down the drain. If you feel you have been wronged or misled in some way then you ought to consider fighting back and asking for your money back. Lenders have billions of dollars tied up in mis sold PPI and they are doing their very best to put borrowers claims off as a result. It will take a reputable company such as Belmont Thornton to get the optimal results.

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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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