Belmont Thornton Logo
Claim Back Loan Insurance

Payment Protection Refund Scam

If you have taken out any kind of payment protection or loan insurance it is likely this cover may have been mis-sold. If the cover was mis-sold then you are entitled to make a claim and could receive compensation worth thousands of pounds.

Why might you be able to claim?

In 2006 the Office of Fair Trading and the Financial Service Authority looked at the sales of payment protection insurance. They found significant issues across the lending industry and a failure by some to adequately protect policyholders from the threat of mis-sale. Cases were discovered where policies had been added without the customer's consent or customers were sold to customers who were uneligible to use them. It was instances like this that led the situation to be dubbed the 'payment protection refund scam' by some critics.

How much could you claim?

The amount you could potentially claim for your mis sold loan protection insurance will depend on a number of factors including the type and age of your PPI. On a credit card, for example, PPI is usually added on a monthly basis with its cost dependant on the customer's outstanding balance. The average rate of credit card PPI is approximately 79p per £100 outstanding. This means that if a customer owes £6,000 on their credit card they are likely to pay in the region of £47.40 per month for the cover. On a personal loan; however, PPI is applied different, usually as a percentage of between 13%-25% of the base loan. This would equate to between £780-£1,500 on a £6,000.

If your PPI claim is successful you would ordinarily receive a refund of all premiums paid plus interest at 8%

To learn more about payment protection refund scams and how to start your claim today call 0207 471 2000.

Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Why Choose Us?

  • TickAbsolutely No Upfront Costs. No Win No Fee*
  • TickSpecialist Claims Team Always On Hand To Answer Your Questions
  • TickQuick, Easy And Simple Process
  • TickU.K. Based Call Center
  • TickGuaranteed To Start Your Claim In 24 Hours

Loan claim: Building societies warn of house price bubble

The Building Societies Association (BSA) is the latest to warn about the potential house price bubble that could arise f...

Bank claim: Lloyds raised concerns on Co-op finances

Lloyds Banking Group was aware that the financial position of the Co-Operative bank was unstable, said Lloyds chief exec...

Loan claim: first time buyers locked out for a decade

First time buyers will have to save up their deposit on a house for more than ten years, according to research from the ...

Bank charges: Commission tackles issue of RBS

The weak position of the Royal Bank of Scotland (RBS) is damaging to the UK economy, according to the Parliamentary Comm...

Bank charges: Report says customers and taxpayers were failed

Customers and taxpayers have been failed by the financial sector, according to the final report from the Parliamentary C...

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.

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

Please note that calls may be monitored for the purposes of staff training.

* 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.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide