Plevin - is this right? 19 August 2018 at 12:36PM in Reclaim bank & credit card charges 5 replies 1.3K views

Spurs501

Hi

Reading Martin Lewis articles on here he seems to be saying that virtually ALL PPI policies are subject to the Plevin ruling - meaning that a payout is virtually guaranteed - is this right in your reclaiming PPI experience?

[Deleted User]

No. Payouts are common but it's far from guaranteed.

Spurs501

Thanks again zx81 - I did think the advice was a bit too good to be true.

I havent mentioned Plevin on my letters to the various lenders - do they look at this as part of the investigation or should I have asked about Plevin separately?

Sorry for all of the questions but you do seem very knowledgeable.

societys_child

Plevin only applies if they disagree with your mis-selling complaint. If they disagree, they will check your eligibility for a Plevin refund.

Nasqueron

Plevin also only applies in a specific set of circumstances as to when it was active as I believe the MSE article points out. MSE has a habit of hyperbole when it comes to refunds, they make it sound like Plevin is extra money to milk out of the PPI cow but in reality it's not really that big as it only applies to rejected complaints and then only in the qualifying period. Lenders will check automatically once they have rejected your complaint, if they uphold the complaint you don't get Plevin as well.

dunstonh

Spurs501 wrote: »

Hi

Reading Martin Lewis articles on here he seems to be saying that virtually ALL PPI policies are subject to the Plevin ruling - meaning that a payout is virtually guaranteed - is this right in your reclaiming PPI experience?

No it is not correct. Although the number is high.

Virtually all loans will exceed the tipping point
Credit card PPI was often at or below the tipping point. It is only the profitshare that takes it over 50% (including profitshare was unfair IMO but there we go)
MPPI commission is below the tipping point. But profitshare can take some over.

Profitshare is the key to many of these and that was mainly used by the banks and big providers. You dont see it on things like car loans, broker loans, MPPI via brokers/advisers etc.

Then you have dates. the credit in question must have existed in 2008. If paid off and closed prior to that date, then Plevin does not apply. Many mortgages are excluded too as some were arranged under MCOB and not the CCA.