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Reclaiming Loan Protection

The term "loan protection" is often used to describe a type of insurance policy called payment protection insurance (PPI), which is supposed to cover loan repayments in the event that the borrower is unable to do so due to unexpected injury, illness, or unemployment. Although eligible individuals can certainly benefit from a suitable PPI policy, the majority of PPI policies are mis-sold by lenders and financial institutions in an attempt to earn commissions and increase their overall bottom line. Various private lenders, financial institutions, and credit card issuers that have been proven to charge customers for mis sold PPI policies have been fined millions of dollars and forced to refund PPI payments to victimized borrowers.

What Is the Cost of Reclaiming Loan Protection?

Due to the high rate of success in PPI claims cases most PPI claim companies are confident enough to work on a "no win, no fee" basis, which means you are not charged unless your claim is honoured and payments caused by the mis sold payment protection policy are refunded. After facilitating a PPI refund a PPI attorney would receive a small percentage of the reclaimed funds, so no funds are required up front to begin reclaiming loan protection payments that are rightfully yours. When compared to the amount of debt that could be created after being denied assistance by the PPI policy provider, the amount spent on a PPI claim company to reclaim the PPI premium is well worth the nominal fee.

What Information Do You Need to Begin Reclaiming Loan Protection?

Before the claims process begins a PPI claims specialist will analyze your case to determine whether or not there is a high rate of success before choosing to pursue a refund on your behalf. Thus, you'll need to provide basic information about the loan and the mis-sold PPI policy, as well as contact details so that a response can be facilitated within 24 hours of your enquiry. If you choose to proceed in reclaiming loan protection payments with the help of a PPI claim company the entire process should take no longer than a couple of weeks, which is about the same amount of time it takes for less than 15% of policyholders to receive even a minuscule amount of assistance from the payment protection insurance company.

Can You Default on a Loan by Reclaiming Loan Protection?

No. In fact, most cases result in a lender being forced to restructure the terms and conditions of the loan so as not to include a PPI policy premium within the overall loan amount. Therefore, not only does the borrower receive all of the PPI policy payments previously made, their monthly repayments are also reduced because the PPI premium is no longer accruing interest. Reclaiming loan protection with the assistance of a PPI claim company is the safest, easiest, and smartest course of action for anyone that has been mis-sold a PPI policy.

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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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