What is the Plevin Ruling?

Have you heard about the Plevin rule? It could mean you’re due a refund from your bank. But you have to act fast — you only have a year left to find out!

You’ve surely already heard about how to reclaim PPI? Payment Protection Insurance (PPI) was mis-sold to millions of UK consumers alongside mortgages, loans and credit cards.

Many people were unaware that they were entitled to claim back PPI, yet have made successful claims and received thousands of pounds from their bank. If you’re not sure if you ever had PPI, now is the time to find out and make your claim. Why? The Financial Conduct Authority has set a deadline for all PPI claims. This means you need to contact your bank before 29th August 2019 to make sure you can receive your refund.

But have you heard about Plevin PPI? This new rule means that thousands more people in the UK could be due money from their bank or lender. Read below to find out what it is and how you can make a claim thanks to the Plevin rule.

What is the PPI Plevin Ruling?

The Plevin rule gets it name from Mrs Susan Plevin, who had a PPI case against Paragon Personal Finance in 2014. During the case, the court ruled that Mrs Plevin had been mis-sold PPI because 71% of the PPI sale was a commission — a fact which was not disclosed to her.

This set a new precedent for PPI claims. If over 50% of your PPI sale was a commission, you have grounds to claim for mis-sold PPI under the Plevin rule. The average commission that the banks made on a single PPI sale was 67%, meaning a huge number of people are eligible to claim under the Plevin ruling and are likely to win their case.

If you had PPI that was active after 2008, you’re eligible to make a PPI claim under the Plevin ruling. It also means that even if you knowingly purchased Payment Protection Insurance, you can still make a claim because the full information about commission was not disclosed to you.

What’s more, if you have previously made a PPI claim and it was unsuccessful, you can now try again and make a case for the commission.

what is the plevin ruling?

a young man claiming ppi

How to Make a Plevin PPI Claim

Making a Plevin PPI claim is exactly the same as any other PPI claim, meaning Direct PPI is here to handle the process and contact the bank or lender on your behalf. It is our wish that everyone who can claim PPI does so before the impending deadline.

Even if you no longer have your paperwork — and, therefore, evidence that you’ve been mis-sold PPI — it’s still possible to make a claim. All we need from you is a few vital pieces of information, such as your full name, address, and the bank or lender who mis-sold you PPI. If you can’t remember who the bank or lender is, don’t panic. We can find this out for you. Give us as much information as possible and we will do the rest. Read the full process about how to claim PPI in our guide.

If your Plevin claim is successful, you will receive the extra percentage of commission from the bank. For example, if the bank took 67% commission on the sale, you would receive 17% (as this is the extra amount after 50%). Some customers have received hundreds of pounds by making a successful claim under the Plevin ruling.

If you contact us about any loans, mortgages or credit cards you took out between 1990 and 2010, we can investigate whether you were mis-sold PPI on any of these financial products and contact the appropriate bank or lender. We make PPI claims easy for you.

Don’t delay! With the deadline fast approaching, you don’t want to miss out on your chance to receive a refund from the bank.