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Mis Sold PPI Claim Letter

A mis sold PPI claim letter is written to a lending institution by an individual who has reason to believe that the PPI instalments paid in conjunction with the loan instalment were unjustified or mis sold at the time the loan was taken put. Payment Protection Insurance is meant to relieve financial burden in the event of loss of work or sickness. In many instances the manner in which it is sold to the borrower poses a problem and results in a mis sold PPI claim letter being sent to the lender.

The Content of the PPI letter

Generally the mis sold PPI claim letter contains the specifics on the PPI policy i.e. the date the policy was enforced and the amount paid throughout the loan period. The mis sold PPI letter will also state the basis for which the letter is being sent, and at this time the borrower will share with the financial institution the reason for which the claim is being made. Also it will detail why it is felt that any PPI payments made were unfair or unjustified. Such reasons may be unemployment at the time the loan was taken, no knowledge of the PPI policy at the time the loan was taken, pre existing ailment at the time the loan was taken and no detailed explanation given as to how Payment Protection Insurance works. These are only a few of the reasons that may give rise to a mis sold PPI letter. The letter also gives the lender a time frame within which a response is expected and lays out further action to be taken if no response is received. The mis sold PPI letter can be sent by the borrower or by a professional in the area of PPI claims once a Letter of Authority has been given by the individual for a third party to act and write on their behalf.

How Much PPI Can Be Reclaimed?

There are PPI calculators online to assist persons who are considering a PPI reclaim and are interested in obtaining the estimated amount of the reclaim. More than one claim can be submitted since individuals may have more than one loan at any given time. Mortgages, hire purchases, automobile loans and credit cards are susceptible to PPI Insurance and as such if it has been determined that any of these loans have carried PPI insurance unfairly or inaccurately; the relevant amounts can be reclaimed. In 2005 the Citizens Advice Bureau reported findings of PPI premiums being as high as fifty-six percent of the total loan instalment. This percentage will vary from individual to individual and in relation to the type of loan being accessed; however it does show that the PPI loan can actually exceed the loan being requested by the borrower. Individuals may very well not have taken the Payment Protection Insurance had this information been disclosed at the time of accessing the loan.

Belmont Thornton / The Claim Company has an experiences claims team to render assistance to all affected PPI individuals. A claim form can be filed by speaking with a member of their customer care team at 0207 471 2000


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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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