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Recover Credit Card Charges

Anyone with multiple credit cards that lives in the United Kingdom has a good chance of having been mis-sold a payment protection insurance (PPI) policy by a dishonest lender. Payment protection insurance is supposed to provide some sort of security by ensuring borrowers that their repayments will be covered in the event of unemployment, illness, or other unforeseen circumstances. Unfortunately, many lenders fail to mention that individuals over the age of 65, those with pre-existing medical conditions, and people that already have payment protection insurance through a different insurance company, are automatically ineligible.

Why Do Credit Card PPI Policies Have Such a Bad Reputation?

In late 2006 the Citizens Advice Bureau (CAB) lodged a "super complaint" with the Office of Fair Trading, leading to investigations being conducted by the Financial Ombudsman Service (FOS) and financial services Authority (FSA), which revealed the extent of credit card PPI mis-selling in the UK. After this data was published hundreds of private lenders and even a few major banks were fined millions of pounds and were forced to provide full reimbursement for the PPI policy payments of tens of thousands of consumers.

Recover Credit Card Charges Caused by PPI after Being Denied Payment Assistance

Fortunately, even after you've been denied assistance by the insurance company it is possible to recover credit card charges caused by PPI payments by filing a claim against the lender. Not only is it incredibly common to be denied PPI policy benefits, statistics indicate that less than 15% of all PPI policyholders actually receive assistance in times of need, leaving more than 85% of policyholders in a mound of accumulating debt and no help in sight. Fortunately, with the help of Belmont Thornton you can reclaim all of the credit card charges caused by PPI, in addition to having the terms of your loan renegotiated. A payment protection claim can be defined in two ways, a claim filed against the PPI policy for repayment assistance, with about 85% being denied, and those filed against the lender that mis-sold the policy after the borrower chooses to cancel PPI, with about 90% of these claims being honoured.

How Hard Is It to Recover Credit Card Charges Caused by PPI?

In order to recover credit card charges caused by PPI you will simply need to fill out a quick claim form and provide basic details about your credit card the attached PPI policy. Within a couple days you should receive a detailed claim spec in the post that will provide instructions on how to proceed with the claims process. It should be noted, however, that it may be difficult for an individual to cancel PPI by themselves without professional assistance, and at the very least it would require extensive research and a significantly longer period of time. Ultimately, the entire claims process usually only lasts between 2 to 8 weeks, and the average amount received when a client is able to recover credit card charges caused by PPI on an unsecured £10,000 personal loan is about £2500.


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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.

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