With the Latest Mis-selling of Payment Protection Insurance Belmont Thornton Can Support Your ClaimBy Belmont Thornton, PRNE
Sunday, August 14, 2011
LONDON, August 15, 2011 -
If you have taken out a loan or credit card in the last ten years it is very likely you may have been offered some form of payment protection insurance. Payment protection insurance, often referred to as loan insurance or simply PPI, is a type of insurance cover that is designed to take over a borrower’s debt repayments if they are unable to work as a result of sickness, accident or involuntary unemployment. The trouble with PPI, though, is that it can be very expensive, can provide limited cover and has been frequently mis-sold.
The issue of mis-selling was first revealed by a Financial Services Authority investigation in 2006. It was found that there were widespread issues throughout the industry and that many lenders had failed to protect their customers from the threat of being mis-sold payment protection. As a result of subsequent investigations into mis-selling several lenders, including Capital One, Egg and Alliance and Leicester, were handed fines.
The Financial Service Authority investigations and the media interest surrounding them, led to an increased awareness of the issue of mis-selling and there was a sharp rise in the number of unhappy customers making complaints.
The way in which policies were mis-sold can vary quite dramatically, but some common customer complaints include: policies being added without the customers’ consent, customers being incorrectly told they had to have the cover and customers being sold the cover without the terms and conditions or costs being fully explained.
The good news is that if you have been mis-sold a policy you have the right to make a complaint and could be entitled to receive compensation.
Belmont Thornton, the PPI claim company, is an independent claims management company who help customers who have been mis-sold PPI. We have already helped in excess of 43,000 customers and have recovered more than £70 million. If you think you may have been mis-sold a policy or would just like to find out more information regarding mis-selling visit our website: www.ppiclaimcompany.co.uk or speak to a member of our customer care team by calling 0207 471 2000.
We also assisted customers with reclaiming unfair credit card charges. In 2006 the Office of Fair Trading investigated the charges applied by banks and credit card companies for over the limit and late payment fees. Their investigation revealed that some lenders were charging fees that were unfair and, as a result, they recommended that a maximum charge of £12 should be applied. As a result of the investigation most lenders have now lowered their charges, but, if you have paid unfair credit card charges in the past, you have the right to make a complaint. To find out more about reclaiming unfair credit card charges speak to a member of our team today.
Contact: Laura Hestley / +44(0)207-471-2000 / email@example.com
Tags: August 15, Belmont Thornton, London, United Kingdom