Plevin is a matter that was taken to the Supreme Court in 2014 by Mrs Susan Plevin. A court ruling decided that Mrs Plevin was treated unfairly because she wasn’t informed about the commission taken from her PPI payment and paid to her lender. Mrs Plevin became aware that 71.8% of the premiums paid under her PPI policy were given to her lender, Paragon Personal Finance Ltd, as a commission payment.
The Supreme Court agreed that there was an unfair relationship between Mrs Plevin and Paragon Personal Finance due to the non-disclosure of the commission payment and the high percentage of the PPI premium.
Plevin claims are claims for the commission on PPI (payment protection insurance PPI) premiums that many people took out when they borrowed money from banks.
Although the PPI deadline has passed, thousands of people have already made a successful Plevin PPI claim under the Plevin ruling. That is because they were not aware of the hidden and high commission payments that were paid to their lenders.
The Plevin compensation experts
As experts in Plevin compensation, we explain all you need to know about Plevin PPI claims, making a claim and getting compensation below. Alternatively, complete our contact form, and a member of our team will get back to you to discuss your case.
What does Plevin mean?
Plevin is the name given to the mis-selling of PPI. Plevin refers to the case that was brought to the Supreme Court about Mrs Susan Plevin, who was treated unfairly when she was sold PPI.
What is the Plevin case?
Plevin is a matter that was taken to the Supreme Court in 2014 by Mrs Susan Plevin. A court ruling decided that Mrs Plevin was treated unfairly because she wasn’t informed about the commission taken from her PPI payment and paid to her lender. Mrs Plevin became aware that 71.8% of the premiums paid under her PPI policy were given to her lender, Paragon Personal Finance Ltd, as a commission payment.
The Supreme Court agreed that there was an unfair relationship between Mrs Plevin and Paragon Personal Finance due to the non-disclosure of the commission payment and the high percentage of the PPI premium.
What is the Plevin ruling?
The Plevin PPI rule means that if you were unaware that more than 50% of your PPI policy was given as a commission payment to your lender, then you are entitled to make a Plevin claim for compensation.
The new Plevin ruling means that millions of people could be eligible to claim compensation if they didn’t have consumer knowledge of the fact that a percentage of their PPI was given as commission to their lender.
What's the difference between PPI and Plevin?
A Plevin PPI claim is different to claiming PPI compensation. Plevin claims are made under the Plevin ruling where PPI was mis-sold and that a percentage of it was given as commission payments to the lender. PPI claims are made because PPI was sold as a type of insurance with loans, credit cards, and other types of credit.
Plevin claims are for people who didn’t believe they were mis-sold PPI and haven't made a claim previously. They are also for those who have made a claim for PPI compensation but it was rejected by the lenders.
More about making Plevin claims
You are legally entitled to make a Plevin claim if you believe you were involved in PPI mis-selling and there were hidden commissions in your policy, or if your previous PPI claim was rejected. As reputable lawyers, we can support and guide you on making a Plevin claim for compensation. Complete our contact form below for advice on how to make a claim.
Who can claim Plevin?
Anyone who was sold PPI and believe that their PPI premiums may have been given to their lenders/banks as commission payments can make a Plevin claim. You could be entitled to make a Plevin PPI claim if:
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You have not been mis-sold PPI before
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Your PPI claim was unsuccessful or rejected when you submitted it before the PPI deadline
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Your PPI policy was sold before 6 April 2007 and opened after 6 April 2008
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You only had a refund for the Plevin part of your PPI.
If you believe that your PPI policy included hidden commission payments and that you may be entitled to Plevin compensation, get in touch with us to discuss your case and make a Plevin claim.
What is the average Plevin payout?
All Plevin payouts are unique to the claimant. The amount of compensation you can receive from a Plevin claim depends on the level of commission that was taken from your PPI payment.
The rule states that if over 50% of your PPI was a commission, you can make a claim and would be entitled to a refund.
How is Plevin compensation calculated?
If you purchased PPI and the commission was above 50% of your PPI payments and this was not explained to you at the time, then you may be entitled to a Plevin compensation.
Plevin payouts are based on your policy and how much commission your lender was paid from your PPI.
Can you claim PPI and Plevin?
You can claim for Plevin if you were sold a PPI policy and believe that your lender was paid a percentage of it as a commission payment. As part of the new rules, you can only claim if you haven’t claimed for PPI or if your PPI claim was unsuccessful. If you have made a PPI claim but haven’t received your refund, then you are also entitled to make a Plevin claim. If you have made a PPI claim and you have received a full refund, then you won’t need to make a Plevin complaint about commission as you have already had the money.
Is there a deadline for Plevin claims?
Unlike the deadline for PPI claims, which ended on 29 August 2019 under the Financial Conduct Authority, there isn’t a deadline to make a Plevin claim for compensation.
How do I claim Plevin?
Your first step to making a Plevin claim is finding evidence that you were mis-sold PPI and that you believe that a large sum of your PPI was paid as commission to your lender. Previous financial paperwork will help you to gather the evidence. In the instance where you don’t have any of your old financial paperwork to prove your PPI, you can contact your bank or lender to ask for more information about your account and policy.
At Plevin Compensation, we can help you find evidence that you had no consumer knowledge of a percentage of your insurance that was given as commission to your lender. We will look at your policy, any paperwork that was transferred and see if it was made clear that the commission was optional, whether you were aware of the costs and benefits of your policy, and if you have sufficient evidence to make a claim.
To enquire about claiming Plevin compensation and for more information, complete the contact form below, and we will get back to you to discuss your Plevin case.
How to make a Plevin claim
If you believe that you were mis-sold PPI and would like to investigate whether your lender was paid a commission payment as part of your policy, then get in touch to find out more about making a Plevin claim.
Complete the below contact form, and a member of our team will get back to you to discuss your PPI policy and advise you on making a Plevin PPI claim.