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Payment Protection Insurance Companies

Even though payment protection insurance companies probably have their own part to play in the PPI scandal that has raised such controversy in the UK, the actual problem rests with the lenders who are mis-sold PPI cover to loan applicants. For a great number of reasons, PPI cover is being mis sold but the bottom line is that the lender is the one who benefits the most. Payment protection insurance companies make a profit from assuming risk, but lenders make a commission for selling the cover and then continue to profit from interest that is tacked on to the monthly payments.

Filing a Claim against Mis Sold PPI

PPI claims are actually leveled against the lender which should be a good indication that any part payment protection insurance companies play in misselling cover is secondary to the lender's role. If you find that you have been mis sold PPI and are due a refund, it is the lender that will pay the price. Yes, the policy will be cancelled but the lender will be the one the court orders to compensate the borrower! When filing a PPI claim, it is presented to the seller with a reason why it is being labeled as mis sold cover. Any substantiating documents are also forwarded to the lender but be aware of the fact that you should never let the original loan documents out of your hands. Always provide a photocopy of the originals when it comes to the lender.

Even though the PPI reclaim procedure is pretty cut and dry, some people still try to file for a refund from payment protection insurance companies when it is the lender who should be claimed against. If you have been mis sold PPI and are unclear how to go about applying for a mis sold PPI refund, talk to Belmont Thornton on 0207 471 2000 The will be able to advise you if they feel you have a valid PPI claim and can also file the claim with your lender. This company is registered with the Ministry of Justice and could settle your claim in just eight weeks.

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Belmont Thornton Limited is regulated by the Financial Conduct Authority in respect of regulated claims management activities; FRN:838450

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.

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

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