Am I Eligible for a Plevin Claim?

What is a Plevin claim?

Plevin claims refer to the commission that might have been mis-sold when you took out PPI. We all know about PPI and how millions of people were mis-sold an insurance product that they cannot use, but in many cases, the banks and brokers added commission when selling it and sometimes it was around 67% or 80%, when legally this should have been capped at 50%.

Today, you can make a Plevin claim for the difference in commission and according to figures, 1.2 million in the UK are still eligible for this, with claims worth around £300 to £1,000 each.

We have partnered with plevin solicitors at Claims Bible who offer a personalised template so that you can process your claim today (for free) and you will hear back within a number of weeks if your claim is successful or not.

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Plevin claims – What is the history behind it?

In 2014, Susan Plevin took Paragon Personal Finance to court. She realised that over 71% of her PPI fee was a hidden commission paid to the finance provider – a fact which was hidden in the small print. Susan Plevin won her case. This set the precedent for other customers to claim compensation if over 50% of their PPI fee was actually a hidden commission paid to their lender. Plevin PPI refers to PPI with unfairly high commissions.

The Plevin Rule is a term for a commissions only claim. 83% of people surveyed by Canary Claims did not know what this term meant. 1.2 million people in the UK could be affected by Plevin. You could be owed hundreds or thousands of pounds.

 

 

What is the eligibility for a Plevin claim?

You could still be eligible for a Pleven claim even if your previous claim was rejected. If your previous claim was accepted but only for the Plevin part (known as a ‘tipping point’ offer) you could still be eligible for some compensation. You can check your eligibility for a Plevin claim here.

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Other people who may be eligible include buyers who:

• Bought PPI before 6th April 2007 which remains ‘open’ after 6th April 2008
• Bought PPI after 6th April 2007
• Had an MBNA or Capital One credit card in the past

 

How much money can I claim from Plevin?

You can get an idea of your Plevin PPI payout by subtracting 50 from the % commission fee you paid. For example, if you paid a 70% commission on your PPI policy, you would be eligible to claim for a 20% payout. 

Claims range from £300 to £1000 on average. Customers who had a £10,000 loan over 5 years are typically refunded an average of £500, for example.

 

Which banks are involved with Plevin claims?

Some of the most well-known banks have been involved in Plevin. These include Barclays, Capital One, Co-operative Bank, Halifax, HSBC, Lloyds, M&S Bank, Natwest, RBS, and Santander. 

 

Speak to our plevin solicitors 

We have partnered with the award-winning Claims Bible who are part of a team of plevin solicitors in the UK. The company has put together a plevin template so that your refund can be processed in the most effective way possible and you can receive your compensation within a matter of weeks if it is successful. There are no fees for submitting your claim with us today, since we operate on a no-win, no-fee basis.

 

 

What’s the difference between Plevin claims and PPI claims?

Plevin focuses chiefly on the commission. 

PPI claims focus on mis-sold insurance policies. Many people were mis-sold PPI, such as people who were unemployed, bankrupt, outside the age limit. Other people were pressured into it or unaware that they could opt out. Cases such as this are eligible for PPI claims.

Plevin only focuses on unfairly high commission that was included within the fees of the PPI, so if you were not mis-sold PPI you could still be eligible for a Plevin claim.

 

Can I make a Plevin claim if I was rejected for PPI?

Yes. If your PPI claim was rejected before the August 29th 2019 deadline, or if you won your case but didn’t receive a payout, you can still apply. 1.2 million claims were rejected for PPI claims but eligible for Plevin, at the time of the 2019 deadline. 

 

What’s the deadline for Plevin claims?

There’s no deadline to make a Plevin claim. Plevin cases come under the Consumer Credit Act 1974, which means they do not have a deadline. You can file a claim at any time and there is no existing deadline in sight.