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Whats a PPI

If you have just realized that you've been paying a significant amount towards a PPI policy within your monthly loan repayments, or were charged in exuberant policy premium upon loan signing, you may be wondering "What's a PPI?" PPI (payment protection insurance), also commonly referred to as loan payment protection insurance, personal protection insurance, and a slew of similar names, is a commonly mis-sold type of policy that is usually sold in conjunction with loans. A PPI policy can carry a cost as high as 50% of the total loan amount, the cost of which is financed by the lender upon loan finalisation, and then repaid slowly by the borrower through monthly repayments (with interest added). According to the financial services Authority (FSA), since 2006 nearly a quarter million UK citizens have been able to claim back PPI from their lender.

What's a PPI Reclaim?

A PPI reclaim is the action of filing a claim against the lender, broker, financial institution, or credit card company that sold you the PPI policy. If you are nervous or intimidated about the process of disputing bank charges related to PPI, for fear that it may have a negative effect on your credit score, it should be noted that most PPI claims are ruled in favour of borrowers. Research from the financial services Authority indicates that more than 90% of PPI policies in the United Kingdom could be considered mis-sold, so consumers who are interested in claiming back bank charges related to PPI during 2011 have an excellent chance of succeeding. With such a high rate of PPI mis-selling in the UK, the financial institution actually carries the burden of proof and must show that they sold the policy in accordance with Financial Services Authority guidelines. Take comfort in the fact that several high street banks have already been fined millions of pounds and tens of thousands of consumers have gone before you in reclaiming PPI.

What's a PPI Coverage Requirement?

PPI coverage requirements are specific criteria that a policyholder must meet in order to be eligible to receive repayment assistance. Thus, to claim back loan charges you need to understand this criteria and how it relates to your case. Although the coverage requirements will vary depending on the policy conditions and terms, most policyholders will never be given repayment assistance because of alleged coverage ineligibility. You should have been ineligible for PPI if you were enrolled in a full-time education, were older than sixty-five or younger than eighteen, received your livelihood through a home business, or already had an equivalent policy taken out with your employer when the loan was applied for.

What's a PPI Claim - No Win No Fee?

A PPI claim - No Win No Fee, is the process of reclaiming funds spent on PPI with the help of Belmont Thornton, which will not charge you unless you are able to receive a full refund. We are confident in our ability to facilitate a successful claims process for our clients, so we routinely work on a no win no fee* basis. Although it is not possible to absolutely guarantee a successful claims process, we can ensure that your claim is represented as effectively as possible. By filling out our quick claim form you can request a free claim pack that can be sent in the post and will provide guidance on how to claim back loan insurance using our services, without having to put forth an additional fast.


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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.justice.gov.uk/claims-regulation number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.

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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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