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When filing a personal insurance claim against the lender who mis sold PPI cover to you, be prepared for a denial letter! Unless your claim states clearly why you feel you have been mis sold PPI cover it may get rejected unnecessarily. The unfortunate part about filing a claim without the assistance of a claims specialist is that it is possible, probable in fact, to miss important details which should have been seen to.

Things to Consider Before Filing a Claim

Since you will be filing a claim alleging the lender mis sold PPI cover you should have a photocopy of the original loan documents to include with the claim. Never send the originals as you may have need of them later. Refer to the loan documents as often as you need to when substantiating the grounds for you claim and use the approved format for filing a claim. Each lender may have different requirements so make sure to touch base with that office so that you can save yourself time. If you are trying to reclaim bank charges then you will also want to have them calculated so that the amount you have coming to you can be listed on the claim.

Using an Online Claims Calculator

Many people don't understand that there is an easy way to calculate how much money has been spent on mis sold PPI. Online claims calculators can be found that are easy to use. The only thing you need to do is plug in figures so that the software can use that information. Whilst all calculators are a bit different, the minimum amount of information includes how much the PPI cost (as a percentage), what was the amount of the loan and the number of years PPI is to be paid. With that information the claims calculator can tell you how much you are paying monthly and how much will have been paid when the loan is satisfied.

Once the Lender Makes a Decision

After the lender has reviewed your claim you can either choose to accept that decision or appeal it if you feel it is unjust. Most of the time the lender will reject your claim so you will need to bring it before the FOS for appeal. If the lender does reject your claim, you are in good company. More than 85% of claims get rejected by the lender the first time around but the FOS then overturns the bans decision more than 90% of the time.

Saving Time and Effort

Reclaiming PPI on a protection insurance claim is not as easy as it appears but can be expedited to save time and energy by contracting with a claims company. Your claims specialist will know exactly how each bank operates and also what their decision making procedure operates. If your bank requires specific supporting documentation it can be submitted in the very beginning because your claims specialist will know what is required. A protection insurance claim, once submitted, should only take a short time to be decided on but banks are holding claims for much longer periods of time before finally reaching a decision.

That's the beauty of working with a professional claims specialist since your representative will be able to stay on top of the protection insurance claim reminding the lender that they are still awaiting a decision. The only thing you need to do after contracting claims team is be patient while they work on your behalf.


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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 16, Elysium Gate, 126 New Kings Road, London, SW6 4LZ and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

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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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