Plevin claim

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mlouise
mlouise Posts: 2 Newbie
in Reclaim PPI & other insurance
We have been told by Barclays that they believe we have paid more than 50% commission to Capital one for PPI. But they have said they may not have information as to exactly how much. They have told us they now believe we have paid 52% over. The plevin ruling was 71% does anyone know if we should accept this? Or are they just giving us the minimum?

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    They're not giving you the minimum.

    They're giving you the figure they believe applies.
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    They have told us they now believe we have paid 52% over. The plevin ruling was 71% does anyone know if we should accept this?

    Some PPI exceeds the tipping point. Some PPI is way under the tipping point. Plevin was high because of the type of PPI. Credit card PPI was lower than loan PPI.
    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.
  • mlouise
    mlouise Posts: 2 Newbie
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    mine was a large loan. do you think 52% is right? just seems a coincidence that they allow 50% and they are guessing we paid 2% over.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    mlouise wrote: »
    just seems a coincidence that they allow 50% and they are guessing we paid 2% over.
    How do you plan to prove otherwise?
  • safestored4
    safestored4 Posts: 464 Forumite
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    The size of your loan is totally irrelevant. Plevin only relates to the commission charged on the loan. Just accept what Barclays have offerred and get on with your life.
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    just seems a coincidence that they allow 50% and they are guessing we paid 2% over.

    Seeing as the FCA set the figure at 50% in their consultation nearly 2 years ago, its not really a coincidence as that was long before your complaint.

    Most PPI commissions were below 50%. It was the profitshare operated by the big banks that took it over the tipping point. If profitshare was not in place, then you would expect it to be in this ballpark.
    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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