So a letter arrived through our door the other day and now since PPI, looks like Plevin is a FCA ruling that if others want to make a PPI claim about high levels of commission, they can do so. Any amount of commission over 50% is classified as being mis-sold. The individual can receive a refund on the percentage amount over fifty.
This means that even those who knowingly bought PPI could make a case if they were unaware of high commission. At the time that many policies were mis-sold, it was common for banks and lenders to have 67% commission. Thousands of people have already made successful cases thanks to the Plevin ruling.
Plevin vs Paragon Personal Finance
Plevin refers to Mrs Susan Plevin. In 2014, she brought a PPI case to Paragon Personal Finance. She argued that she was mis-sold a PPI policy on a loan because of high levels of commission that was not disclosed to her at the time of purchase.
Her PPI policy was 71% commission. She argued that if she had known the commission was so high, she might not have bought the policy in the first instance. The case went to the Supreme Court, and it ruled in Mrs Plevin’s favour, resulting in a refund.
In a completely sane world, madness is the only freedom (J.G.Ballard).
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