Payment Protection Refund Government Appointed
Even though the government legislated that lenders were to refund any money collected from mis sold payment protection insurance, there are altogether too many instances where they are denying claims without giving them a full review. It is obvious that they are not giving serious consideration when a claim crosses their desk sold to a borrower over the age of 65 and they are sending it back as denied. PPI never covers anyone over that age so it is clearly a fraudulent attempt to bilk that consumer out of money. The thing to realise when being denied a refund on a PPI policy that you are sure was mis sold is that you can always seek a payment protection refund government appointed financial ombudsman service appeals process.
Why So Many Consumers are Appealing Lenders' Decisions
If you are curious as to why so many people are appealing lenders' decisions on claims that are filed it could just be that those lenders are having a hard time coming up with the money to pay PPI claims. In order to pay claim back PPI, the lender would need to have enough liquid assets to meet the claim. Since there have been so many millions of claims being paid, many lenders are simply out of funds! The shame is that if they hadn't taken those charges from people in the first place they wouldn't be in this problem now. Banks are a good example of just how serious the problem has become. Lloyds, for example, stated that they had record losses for the first quarter of 2011 which could very well be why they are reluctant to pay PPI refunds. As a result, consumers are being forced to appeal for a payment protection refund court appointed ombudsmen.
The Appeals Process
Claiming back bank charges should be easy once it has been established that the loan insurance was mis sold but borrowers are being forced to go through the appeals process for a payment protection refund government appointed. Once you have a denial letter in hand the next step is to file with the Financial Ombudsman Service that reviews all claims on appeal. It will be necessary to have the original loan documents enclosed with the appeal so make certain that you don't send a photocopy as it will delay the appeals process unnecessarily. You can save yourself some effort here if you enlist the assistance of a professional claims specialist to file for you. They are experts in their field so everything should be in order before making the appeal. As a matter of fact, a claims specialist can also file the original claim for you as well!
For further information on a payment protection refund court appointed appeals process, take a look around Belmont Thornton website as there is ample information to help you with every aspect of filing a claim. From the original filing to the appeals process you will find help on any concern you may have. If you can't find what you are looking for, speak with a claims specialist on 0207 471 2000
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