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Mis Sold PPI Claims

In 2010 the number of mis sold PPI claims before the Financial Ombudsman increased in excess of 18,000 claims from the year 2009. These mis sold PPI claims are being presented by individuals who believe that PPI was sold to them unnecessarily, falsely presented to them as compulsory or just not explained thoroughly so as to justify the decision made to accept PPI at the time the loan was being requested. Both the Citizens Advice Bureau and the Financial Services Authority have stated that there are many individuals who may have not received the proper advice at the time the insurance was issued; and yet many more might not have even been told that PPI was inclusive in the monthly loan payment.

What is Loan Insurance?

Loan insurance is usually sold at the time a loan is being secured from a Financial Institution or from an insurance provider. This type of insurance is meant to cover the loan in the event of job loss or illness. Personal loans taken from an institution are likely to attract the sale of loan insurance by the institution's representative to the borrower. Another form of loan protection insurance provided by an insurance provider would be Accidental Death and Dismemberment otherwise known as AD&D and as the name implies in the event of accidental death or dismemberment the policy holder will receive a lump sum amount which can be used to repay a loan amount.

Controversies surrounding Loan or Payment Protection Insurance

There are many reasons which result in mis sold PPI claims as follows:

  • The borrower already had PPI with an insurance provider and was not asked or explained about the PPI policy being administered at the time the loan was being processed.
  • The borrower was not employed at the time of the loan and as a result PPI would not be applicable.
  • The borrower was a student and not employed to warrant the purchase of Payment Protection Insurance.
  • On a weekly basis the borrower worked for less than sixteen hours.
  • The borrower was retired at the time the loan was taken out.
  • The borrower already suffered from an pre-existing medical condition.

These are by no means the only controversies which can result in mis sold PPI, but just a few to provide basic information on this matter. There are in fact so many ways in which PPI can be mis sold that it often takes a certain level of expertise to understand them all.

With the increased number of mis sold PPI claims; companies such as Belmont Thornton Limited better known as Belmont Thornton are available to provide the much needed support and advice on these mis sold PPI claims. The firm operates on the basis of No win No Fee*; and clients can begin the reclaim process within a hassle-free environment. Some claims are settled in as short a period as eight weeks. Do not hesitate any longer. Call Belmont Thornton at 0207 471 2000 and know whether there is a valid PPI claim to be filed.


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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 16, Elysium Gate, 126 New Kings Road, London, SW6 4LZ 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.

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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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