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Recovering PPI Charges

Many unsecured personal loans, mortgages, and even credit cards are sold with included loan insurance policies that increase the overall loan amount, thereby increasing monthly repayments. When a lender sells a PPI policy he or she will receive a commission from the insurance company, and policies of this type are typically funded through a one-time premium that is added to the total loan amount. Thus, the borrower has no choice but to continue to make repayments towards the PPI policy, as it is attached to the original loan amount. Consider the following information to learn more about recovering PPI without defaulting on your loan or damaging your credit score.

Recovering PPI in 2011

Information publicised by the FSA found that just five percent of the loan protection insurance policies evaluated were sold in accordance with FSA guidelines, with the other 95% considered to be mis-sold as a result of dishonest salesmanship or misrepresentation. Given the high rate of honoured PPI refunds during the past six years, mainly because of greater attention by multiple financial authorities, all of our clients have a very good chance of obtaining full reimbursement in 2011. Overall, it is more likely that you will succeed in recovering PPI payments than to receive policy benefits from an insurance company. During 2010 close to 50,000 UK residents filed a PPI claim, and this year an estimated 70,000 to 100,000 consumers will file a complaint to the Financial Ombudsman Service (FOS) in reference to a payment protection insurance policy.

The Benefits of Recovering PPI Charges with the Help of Belmont Thornton

Every year Belmont Thornton assists thousands of clients in successfully recovering mis sold PPI. By utilising our services consumers not only increase their chances of recovering PPI charges before going to appeals but we can also help to expedite the process significantly. Multiple factors contribute to this, including the bank's willingness to comply with professionals who know their business. After you've submitted details regarding your claim, requested a free-of-charge consultation you should be given a personalised response in just one day, after which you may assess whether you'd like to pursue a claim against the lender.

How to Proceed in Recovering PPI Charges

Belmont Thornton offers a free consultation that will allow us to review your situation by asking relatively basic questions related to the amount of the loan, loan type, and the lender that mis-sold the PPI policy. After engaging in this consultation you will be able to consider whether you should pursue the case based on the information you received from Belmont Thornton. If you decide to file a claim, simply fill out the claim pack, send it back by return post and at that time the process of filing a claim will begin. The average consumer can receive a full PPI refund in just eight weeks, which is similar to the time it takes for only fifteen percent of PPI policyholders to receive even the smallest amount of repayment assistance when filing to draw benefits on their policies. Unless you are one of the lucky 15%, you can file for a refund today.

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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 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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* 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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