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Even though there has been an inordinate amount of news regarding PPI and the whole PPI scandal concerning the lending industry in the UK some of us just aren't familiar with what the term PPI stands for. Of course, anyone who hasn't ever had a policy may not know what PPIs are. PPI stands for payment protection insurance and it is insurance added to a loan in order to provide cover should the borrower suddenly find himself or herself without work. This loss of work could be due to acciden, illness or involuntary unemployment. PPIs then are policies meant to protect the consumer but in reality often provide very little cover.

What Is All the Controversy About?

Initially, PPIs were meant to make payments on loans when a borrower lost a job perhaps from getting laid off, having an accident or suffering from an illness. In theory this is a great thing because being without work is stressful enough but being without work and having loan installments to pay is another matter altogether. The controversy stems from the fact that lenders were adding PPIs to loans other without the borrower's permission or by misrepresenting what the cover could do. Sometimes lenders were even telling consumers that they needed to have this cover or they wouldn't qualify for the loan. In all of those cases it constituted misselling PPI which enables the borrower to file a PPI claim.

Filing Claims against PPIs

 Many consumers are now turning to PPI claims companies to help them with the whole claims process from filing the claim through to filing an appeal if that should become necessary. PPI claims companies are also experts in the art of negotiating with lenders for compensation to the borrower. Many of these companies work on a no win no fee basis and will not charge for the initial consultation unlike PPI solicitors who charge a retaining fee and then by the hour as the claim proceeds.

Belmont Thornton, Belmont Thornton, work only on a no win no fee* basis. The claims team are on hand at all times to answer any questions or concerns you may have along the way. To find out whether or not your loan had mis-sold PPI attached to it contact the claims team at 0207 471 2000. Within a day you can have a claims packet sent out to you in the post and could be on your way to getting that mis-sold PPI refund.

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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.

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