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Unfair Bank Charges Claim

Payment protection cover, also commonly referred to as loan protection insurance, is a type of coverage offered to borrowers that is supposed to provide repayment assistance in the event of unemployment, illness, or injury. To mis-sell these policies, many lenders will persuade borrowers into believing that the policy is mandatory for loan approval, or that it will somehow affect the loan amount. Other lenders will completely fail to mention the policy, causing the borrower to pay for it in small increments with each monthly repayment. Most unscrupulous lenders will simply add the cost of the PPI policy to the overall amount, thereby causing it to accrue interest along with the original loan.

Understanding the Prevalence of Unfair Bank Charges Caused by PPI Policies

Several financial authorities in the UK that are responsible for determining whether or not policies are mis-sold are aware of the fact that the majority of PPI policies are useless to the borrowers that they claim to protect. Because of this, many PPI refunds have been honoured since 2006, when several studies revealed that various major financial institutions were engaging in excessive PPI mis-selling. In fact, a couple of banks were fined millions of pounds after being forced to give a PPI refund to all consumers that submitted an unfair bank charges claim against them.

Reclaim Unfair Bank Charges Related to PPI in Time to Escape Debt?

A PPI claims expert can help you reclaim unfair bank charges in less than two months, and you will not be charged for anything unless your claim is successful. Fortunately, many clients are able to receive their refund of unfair bank charges in time to make repayments and avoid the onslaught of ongoing death that often victimised individuals are unable to receive repayment assistance from their mis-sold PPI policy. Belmont Thornton is able to expedite the PPI claim process due to their expertise, and initiating the claims process is as simple as filling out a quick claim form and takes just a couple of minutes to accomplish. After providing your contact information will send you a free claim pack in the post containing further instructions on how to proceed in submitting an unfair bank charges claim.

Reasons to Submit an Unfair Bank Charges Claim against Your Lender

If you were told that the loan insurance policy was necessary for approval or that not purchasing the policy would decrease the amount that you could borrow, you were deceived into purchasing the policy so that the lender could earn a commission and increase the overall loan amount. This not only caused your monthly payments to be higher, it also left you vulnerable to debt by consuming a considerable fraction of the loan amount and gave you an additional financial burden. Furthermore, if the lender sold you a policy even though you are not eligible for coverage, you are entitled to a full PPI refund.

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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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