MSE News: PPI claimants winning four-figure payouts under new 'Plevin' rule

edited 25 October 2017 at 2:17PM in Reclaim PPI & Other Insurance
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MSE_CallumMSE_Callum Forumite
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edited 25 October 2017 at 2:17PM in Reclaim PPI & Other Insurance
Banks have started to pay out £1,000s to people reclaiming PPI under a new rule which means you may be able to claim back some of the cost just for having had a policy...
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'PPI claimants winning four-figure payouts under new 'Plevin' rule'
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  • As with all these "success" stories, it would give context to know the amount the individual has borrowed and how much they repaid. My first thought when I see a high amount is what a terrible amount of debt they must have had and I hope they're in a better situation now.
  • sotonkonasotonkona Forumite
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    I made a claim (independently) to Barclaycard for an old Egg card which I had PPI on back in 2006. My claim was rejected and later sustained by the Ombudsman. However, the Ombudsman said in the rejection letter I could be entitled to compensation due to the Plevin case. On Saturday (2 months later) I received a letter from the Ombudsman saying that Barclaycard are prepared to offer me 'the amount of the commission that was over 50% of the total cost of my policy' with no reference to interest etc. They have recommended that I take the offer - what does everybody think? Has anyone had one of these letters? Should i accept the offer or hold out for interest?
  • [Deleted User][Deleted User] Forumite
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    sotonkona wrote: »
    I received a letter from the Ombudsman saying that Barclaycard are prepared to offer me 'the amount of the commission that was over 50% of the total cost of my policy' with no reference to interest etc. ...Should i accept the offer or hold out for interest?
    You do get interest.

    Are you certain the figure offered doesn't include interest? I expect you'll find that it already does.

    A Plevin refund is defined and is not somehow negotiable (from either side).
  • sotonkonasotonkona Forumite
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    Thanks, I should receive the official letter from Barclaycard this week (according to the Ombudsman, as I have until 14 Dec to decline the offer) - I will double check the amounts and share.
  • dunstonhdunstonh Forumite
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    sotonkona wrote: »
    I made a claim (independently) to Barclaycard for an old Egg card which I had PPI on back in 2006. My claim was rejected and later sustained by the Ombudsman. However, the Ombudsman said in the rejection letter I could be entitled to compensation due to the Plevin case. On Saturday (2 months later) I received a letter from the Ombudsman saying that Barclaycard are prepared to offer me 'the amount of the commission that was over 50% of the total cost of my policy' with no reference to interest etc. They have recommended that I take the offer - what does everybody think? Has anyone had one of these letters? Should i accept the offer or hold out for interest?

    The plevin ruling does require the addition of interest. Wait until you get the letter from Barclaycard.
    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.
  • Jon81Jon81 Forumite
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    Just had a cheque from nationwide credit card for a previously rejected, then re opened complaint on this. There’s no breakdown on specifics of the amount arrived at but amounted to £431 on a card taken in 2002 and insurance kept active for if memory serves about 4 years.
  • ennnceeeennnceee Forumite
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    Hello, I had a PPI complaint upheld, but had a successful claim that exceeded the refund due, so got nothing. However, if commission was included in my PPI payments does Plevin v Paragon affect the result at all, I wonder. Thinking, rightly or wrongly, that I might have had the protection in any case, if commission hadn't been included, so wondering if the amount of any commission should be refunded, even with a claim. Does that make sense?!
    Filiss
  • NasqueronNasqueron Forumite
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    ennnceee wrote: »
    Hello, I had a PPI complaint upheld, but had a successful claim that exceeded the refund due, so got nothing. However, if commission was included in my PPI payments does Plevin v Paragon affect the result at all, I wonder. Thinking, rightly or wrongly, that I might have had the protection in any case, if commission hadn't been included, so wondering if the amount of any commission should be refunded, even with a claim. Does that make sense?!


    A refund of all the premiums includes the Plevin element (if it was even applicable - not all of it was covered by Plevin). No you are not going to get money back after having a successful complaint which paid out more than your premiums - pay your claim back and then ask them to refund your payments :)
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  • [Deleted User][Deleted User] Forumite
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    ennnceee wrote: »
    Hello, I had a PPI complaint upheld, but had a successful claim that exceeded the refund due, so got nothing. However, if commission was included in my PPI payments does Plevin v Paragon affect the result at all, I wonder.
    Since Plevin only applies to rejected complaints, your case does not qualify.

    A successful complaint will result in a full refund of the PPI (along with any commission), so obviously you won't be getting a second refund of the same money.

    The fact that you claimed on the insurance prior to complaining about it is immaterial. You had already received more than you paid, so you are now entitled to nothing more.

    Please don't bump up old threads, this is from 2017 and the earlier posts are out-of-date.
  • ennnceeeennnceee Forumite
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    Thank you both, much appreciated. I'm afraid I don't understand the reference to bumping up old threads. My query was posted today.
    Filiss
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