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PPI Money Back

SinSince it is common knowledge that UK lenders have been found guilty of mis selling payment protection insurance, everyone is looking to see if they have been mis sold PPI cover and are due a refund. There are actually millions of existing PPI policies at the moment and many of them may qualify for PPI money back claims. The important thing is that only mis sold PPI> is eligible for a refund of PPI money and consumers would do well to learn what constitutes mis sold PPI prior to making a claim.

WhaWhat Constitutes Mis Sold PPI?

 First of all, payment protection insurance only covers borrowers who are working full time for someone other than themselves. This leaves out self-employed, temporarily employed and retired individuals. Anyone of retirement age would also normally be ineligible for payment protection cover. The point is, if the lender knowingly sells a policy to anyone who is automatically excluded, that lender is guilty of mis selling PPI and the consumer is entitled by law to get his or her PPI money back. Other common methods of mis-selling include where a policy is added without the customer's knowledge or the customer is placed under undue pressure to take out cover. Your policy may also be considered mis-sold if the full terms and conditions were not explained to you or you went mislead regarding some aspect of the cover. If you didn't need or were not eligible for the cover you could also make a claim.

Filing a Claim to Get PPI Money Back2>

Filing a PPI claim is is the first step in getting a refund on money that was taken as a result of mis sold PPI. Contrary to what many people believe, you do not file the claim with the insurance company. Although when you think of 'claims' you automatically think of insurance, this isn't the type of claim you will be filing. The thing to keep in mind is that the insurance company didn't misrepresent the policy, didn't coerce you into buying it, didn't sell it to people who were ineligible for cover and certainly didn't tell you that you wouldn't get a loan unless you bought the policy from then. That is all on the lender! If you feel that the lender mis sold payment protection insurance it is the lender you need to file a PPI money claim against. It is only a matter of calculating how much you have paid and clearly stating a reason why you believe you were mis sold PPI and deserve to get your money back.

Of course there is more to it than that which is why a good percentage of claimants choose to use a PPI claims company to act on their behalf, but the underlying principles are consistent. The consumer who was mis sold PPI is entitled to make a claim against the lender who sold the cover and is also entitled to a refund of money paid in and perhaps compensation as well. Belmont Thornton has a team on hand to answer any questions you might have. Call 0207 471 2000>.


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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 B16, 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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* 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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