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Despite the fact that cost of a PPI policy can account for as much as 13 to 56% of the original loan amount, 40% of policyholders are completely unaware of the policy's existence. In 2006 several financial authorities conducted thorough investigations and studies into the mis-selling of PPI policies. Unfortunately, studies have shown that nearly are not even aware that they have the policy, and about 85% of policyholders are denied approval, giving PPI the highest claim denial rates of any type of insurance. Several financial authorities in the UK have scrutinised and criticised insurance companies and lenders for selling policies that are overpriced, provided sufficient cover, and are unsuitable for the majority of policyholders.

Claiming Back Your Loans Insurance Charges

Once you've been denied repayment assistance, seeking a PPI refund may be the only way to reclaim some of the funds spent on the policy. A PPI claim facilitated by Belmont Thornton, Belmont Thornton, can help you receive adequate compensation for all of the money spent on a PPI policy. The fact that established banks can be fined and reprimanded for PPI mis-selling should give you the confidence needed to begin claiming back personal loan protection with the assistance of a qualified PPI claims firm like Belmont Thornton. Most people will obtain total PPI repayment in just one to two months, which is similar to the time it takes for a mere fifteen percent of PPI policyholders to claim even the smallest amount of financial assistance.

Examining Your Loans Insurance Policy

If you're already in the process of reclaiming PPI, you'll need to make sure you don't apply for any new loans that include mis-sold PPI policies. Be sure to inquire about the types of repayment circumstances that are eligible for coverage. While loan protection insurance policies can certainly prove to be beneficial to about 15% of borrowers, it is important to recognize whether or not you're eligible for PPI. In an attempt to increase the amount borrowed many lenders overlook eligibility guidelines and supply inappropriate policies to applicants that will never be able to receive causing benefits in times of need.

Loans Insurance Reclaim Studies

During the past six years, several financial authorities conducted thorough investigations and studies pertaining to the mis-selling of PPI policies. The studies revealed that nearly 95% of the policies reviewed were mis-sold, which is a startling statistic considering there are more than 20 million PPI policies currently in existence in the United Kingdom, and each year since 2009 there have been 7 million additional policies sold. During 2010 approximately 50,000 PPI refunds were honoured by the FOS, and that number is expected to rise by an additional 20,000 to 50,000 this year. The Financial Services Authority (FSA), the Citizens Advice Bureau (CAB), the Office of Fair Trading (OFT), and to the Financial Ombudsman Service (FOS) have criticised insurance companies and lenders for working in unison to promote an appropriately priced insurance policies that provide insufficient cover for most policyholders.

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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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