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PPI Scam

If you have been mis-sold payment protection insurance in the last ten years you may be entitled to claim back PPI from your lender. The mis-sale of PPI has become a huge scandal with many people dubbing it a 'PPI Scam.' The reason so many people have been so upset by the issue of mis-selling is that it has occured on such a large scale. Since 2006, more than 1.5 million people have made a PPI complaint with millions of pounds being paid out in compensation. 

What is mis-selling?

Mis-selling can mean a variety of different things, but generally speaking it means there was a failure of some description at the point of sale. For example, if a customer was put under undue pressure this can be regarded as mis-sale. Likewise if the customer was given incorrect information, E.g. that they had to have the cover or it would improve their chances of being given the loan or credit card. If you didn't not need your cover this can also be regarded as mis-sale. If you had a policy in place already, for example or if you were in secrure employment with an entitlement to sick pay. Some of the customers who complain most strongly about the 'PPI scam,' though, are people who have been sold cover they are ineligible to use. You may be ineligible to hold a policy if you are self-employed or if you are aged sixty-five or over.

What can you do if you have been mis-sold a policy?

The good news is that if you have been mis-sold cover you can make a claim and there is a good chance you may be entitled to reclaim the money you have paid into the policy. To start claiming back bank charges you have paid for mis-sold PPI you will need to submit a complaint to your lender explaining the circumstances under which you believe your policy was mis-sold. Where your lender admits mis-selling you can expect to receive a full refund of all premiums paid and often an additional 8% in interest.

If you have reason to believe you have been mis-sold a policy or fallen victim to a 'PPI scam' we could help. Call our claims handling team today on 0207 471 2000 for more information or fill in our online claim form.

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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 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.

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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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