PPI reclaim under Plevin

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Hi,


I tried to claim PPI back in 2011 and my claim was rejected. According to recent news I am able to re-try my claim under the Plevin ruling, correct?
I have received a letter back from Capital one today to say since they wouldn't uphold my complaint in 2011 the case is closed.


I thought the Plevin ruling was a new complaint as this was not available until 2014 onwards therefore shouldn't they readdress complaints under this ruling?

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  • Nasqueron
    Nasqueron Posts: 9,044 Forumite
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    akasha8uk wrote: »
    Hi,


    I tried to claim PPI back in 2011 and my claim was rejected. According to recent news I am able to re-try my claim under the Plevin ruling, correct?
    I have received a letter back from Capital one today to say since they wouldn't uphold my complaint in 2011 the case is closed.


    I thought the Plevin ruling was a new complaint as this was not available until 2014 onwards therefore shouldn't they readdress complaints under this ruling?

    You are slightly misunderstanding Plevin - it is not about a new complaint, it's just that sometimes the PPI was sold with undisclosed commission and the Plevin case ruled that anything over 50% commission was too much so you get back anything over 50%

    E.g. Commission was £100 which was say 55%. You get back the 5% over 50% i.e. £5

    You are welcome to ask Cap to review if your sale is affected by Plevin, if it is you will get some money back. If it was under 50% you won't get anything
  • dunstonh
    dunstonh Posts: 116,658 Forumite
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    I am able to re-try my claim under the Plevin ruling, correct?
    Not quite.

    Your complaint was rejected and will remain rejected. However, you can request that your case is looked at following the Plevin ruling in respect to seeing whether the commission exceeded 50%. If it did, then you will be refunded anything over 50% plus interest.

    We have only seen one plevin outcome on the forums so far and that was a credit card. The commission was in the 30% range so no refund was paid. Generically, the expectation is that secured loans will be above 50%. Credit cards will range from just below or just over with monthly MPPI being lower and single premium MPPI being higher.

    You also are required to have paid the PPI after 6th April 2008. Not before.
    I thought the Plevin ruling was a new complaint as this was not available until 2014 onwards therefore shouldn't they readdress complaints under this ruling?

    The FCA put it into consultation in 2015 and it has only just come into effect. It will not change any outcome of the original complaint. It may just mean a small refund for some people. Cap One are correct in telling you that your complaint is closed and that wont change but they should have said they will check to see if Plevin applies.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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