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Reclaiming Back PPI

In recent years payment protection insurance companies have gained a negative reputation over the mis-sold payment protection policies throughout the United Kingdom. In the UK there are hundreds of thousands of citizens who have been taken advantage of by lenders who were mis-selling payment protection insurance. Lenders were selling the payment protection insurance policies in order to increase the amount of money that would make. They knew the average payment protection insurance policy when attached to a loan would increase the profit margin by at least 45%. This means that if a consumer took out a £10,000 loan and attached payment protection to it they can be looking at paying back £14,500 which is a massive amount of profit for lenders, not to mention the amount of interest that would charge on the loan anyway. Borrowers have had enough with this type of treatment from lenders and are fighting back by filing payment protection claim in greater numbers by the day.

What Has Been Done

With the mis-selling of payment protection insurance going off the wall many lives have been destroyed. Not only did the lenders sell policies to the borrowers who would not qualify for coverage also they made borrowers feel as though they would have protection against financial turmoil by getting payment protection insurance. Even though the lenders have been ordered to refund money for mis-sold payment protection policies, they are still trying to get away with the money they have taken from borrowers. With around 85% of the policyholders now reclaiming back PPI lenders are getting nervous. You will find that when reclaiming back PPI you must first file a claim against the lenders and they will more than likely deny your claim. The lenders are just doing what they always do, plotting and scheming on how much money they can squeeze out of the consumer by perpetrating this PPI scam.

What Can Be Done

Even if you have been led on a wild goose chase while reclaiming back PPI don't give up. There are PPI claims companies that can assist you in reclaiming back PPI. These companies normally employ a staff of trained professionals, and have been certified by the Ministry of Justice to do business in accordance with the strictest policies regarding handling personal information. The Ministry of Justice makes sure that when reclaiming back PPI, charges and fees associated with protection accounts that were mis-sold are handled with the care and knowledge this endeavor demands. PPI claims companies understand that lenders don't want you reclaiming back PPI because that means the money they thought they were making all those years as a result of stealing your hard-earned money will need to be paid back. This is something they just do not want to do.

Through all this there is good news for the borrowers though as there are many PPI claims companies that work on a no win no fee basis. This serves to eliminate some of the financial strain at this point in life. Some of these companies also can get started on their claim within 24 hours and many will give an estimate as to how much compensation could be recovered when reclaiming bank PPI.

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Belmont Thornton Limited is regulated by the Financial Conduct Authority in respect of regulated claims management activities; FRN:838450

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN 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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