Belmont Thornton Logo
Claim Back Loan Insurance

Personal Loan Insurance Claim

Everyone knows that the interest rate on personal loans is usually much higher than it is on any kind of secured loan as well as the fact that personal loans are also harder to qualify for. In the past, some sales staff used this as a selling tactic when trying to persuade consumers to purchase payment protection insurance. The unfortunate thing is that PPI has turned out to be what has been called the biggest scam in the history of the lending industry in the UK with PPI mis-sold to people who can never hope to make a claim against their policy.

Problems with the Personal Loan Insurance Claim

Once consumers have purchased PPI for personal loans they feel more secure because in the event they should be unable to make a payment on the loan there is cover in place. Unfortunately, many consumers have been mis-sold PPI and would never be eligible for cover under any circumstances. Personal loans have been issued with mis-sold PPI to self-employed individuals, temporary workers and even those over the age of 65. These groups of people are not eligible to make it personal loan insurance claim simply because of all the exclusions on a PPI policy. More and more people are finding that there is no security in payment protection insurance simply because too many people are automatically excluded from filing a personal loan insurance claim. As a result, tens of thousands of PPI claims are reaching the desks of lenders from consumers looking for a refund based on mis-sold PPI.

How Do I Get a Refund for Mis-Sold PPI?

If you are wondering how to go about getting a refund on mis-sold PPI the first thing you will need to do is prove that you were mis-sold that insurance cover. There are a number of reasons you could cite such as the examples above but also people are proving that they did not know PPI was being added to their loan. A PPI reclaim on money spent for mis-sold insurance cover is also handled in the same way by proving that you had no idea that insurance cover was being added on top of the amount you are borrowing. In order to get a PPI refund you must first file a claim with the lender and wait for their decision. If your lender rejects your claim you then have the right to refer it to the Financial Ombudsman Service. 

It personal loan insurance claim can be just as frustrating to file as any other mis-sold PPI insurance claim. For this reason you may want to contract the services of a professional PPI claims team to handle filing your claim and all subsequent communications. Just be careful to choose a PPI claims company that is registered with the Ministry of Justice and willing to work on a no-win no fee contingency.

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