Have you heard about the ‘Plevin Ruling’? You may have paid an unfair commission on your PPI.
Might you be owed money?
Fill in our enquiry form and one of our advisors will get in touch.
Thought your PPI claim was over? That might not be the full story. You may be affected by the new unfair commissions – or ‘Plevin’ ruling - and we may be able to help.
Get in touch today - we are offering a FREE ‘Plevin’ eligibility check so you can see if you might have an unfair commissions claim to make.
Unfair Commissions Enquiry FormStart your FREE ‘Plevin’ eligibility check here
This refers to new grounds for getting compensation around your PPI. In 2014 a Supreme Court judgement ruled that you could now claim if the person who sold you the PPI policy earned a high level of commission. If this wasn’t made clear to you, you may have a claim to make.
Susan Plevin brought a legal case about this against Paragon Personal Finance and that is why it is referred to as the “Plevin ruling”.
This means that you may be eligible to reclaim some money back if your lender earned a high level of commission when they sold you PPI and DID NOT tell you about this at the time. This is subject to when your credit agreement was in force.
Yes it does. Even if your PPI policy was sold to you otherwise legally and above board, if a high commission was earnt, then you could still be able to pursue a claim under the ‘Plevin’ ruling.
The PPI deadline date of 29th August 2019 has been set by the FCA for all new PPI complaints made through a Claims Management Company, or direct from you. This also includes complaints around an undisclosed commission (‘Plevin’).
However, if you decide to pursue your claim with a solicitor through the legal justice system, you could have longer to make your claim. See below for more information on this option.
If you have previously raised a PPI mis-selling complaint, the person who sold you PPI is required to write to you to let you know that you are eligible to claim for unfair commissions if the commission you paid was 50% or above. This is the latest Government guidance. However, in the meantime, you could contact them yourself to find out.
To go through the process of making a claim, you have a few options. You can do it yourself, or you can go through a specialist Claims Management Company. That’s where we come in - you can use our team of experts at Stanton Fisher who will be happy to handle the process for you. We will ask for your permission to contact the company and liaise with them for you.
If we find that you have a PPI and/or a ‘Plevin’ claim to make, simply decide whether you would like us to take this forward for you*. Or you can choose to do this yourself, direct with the company.
You have a number of options. If you would like to pursue a PPI and/or a ‘Plevin’ claim, you need to decide which is best for you and your needs.
You are free to pursue the claim yourself, directly with the person who sold you the PPI policy. Or you can choose to go through a Claims Management Company like Stanton Fisher. After we check your ‘Plevin’ eligibility, if you want us to pursue the claim for you, our fees will only apply if the claim is successful. Solicitors will also charge a fee for their professional services – this applies to both referrals from us, or to a solicitor you go directly to yourself.
The FCA states that if 50 per cent or more of the total PPI premium was commission, this is considered too high and unfair. It’s worth knowing that according to the FCA the average commission on PPI was in fact 67%. Susan Plevin who brought the original case had paid 71.8%. So let’s say you find out you paid 67% commission, you will be able to claim 17%, plus the interest you paid on this over time, and also 8% annual interest on both these amounts combined. So it’s really worth looking into this and seeing if you have a claim to make.
If we find that you have a PPI and/or a ‘Plevin’ claim to make, you can decide to manage the claim yourself or we will be happy to do this for you. Claims Management Companies will generally charge a fee for their service. At Stanton Fisher, we only charge a fee if your claim is successful*.
The value of the claim will depend on what you paid in the first place. If you successfully make a claim either yourself, or through a Claims Management Company you will be compensated for any commission paid that represented over 50 per cent of the PPI policy.
However, here at Stanton Fisher we can refer you to one of the solicitors we are working with who are able to claim back the full commission for you. So you could make a claim for ALL of the commission you paid back.
If you want to deal directly with the company who sold you the PPI, you can bring a claim to Court yourself, or instruct a solicitor to operate on your behalf.
No. But don’t worry, any previously undisclosed commission earnt would have been included in the PPI compensation you received. So you won’t have lost out.
* Once you instruct Stanton Fisher to pursue a claim on your behalf, a fee of 36% inclusive of VAT is payable only in the event of a successful claim. A cancellation fee is payable if the client decides not to pursue the claim after they have instructed us to proceed, subject to the standard 14-day cooling off period.