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The Plevin Ruling: who does it impact?


The Plevin Ruling in November 2014 was a monumental moment for anyone wanting to claim back PPI. It extended the definition of ‘mis-selling’ Payment Protection Insurance to include the more unscrupulous credit providers and third-parties who didn’t make it clear that the extra cover included a high amount of commission for whoever managed to sell it. Therefore, with a simple stroke of a pen, millions of extra holders of historic PPI policies were suddenly entitled to make a claim.

The Plevin Ruling

Going back to 2014, it was clear that this ruling by the Supreme Court was going to be a huge benefit for consumers, while simultaneously creating an even bigger headache for financial service companies. Up until that point, they had been able to reject PPI refund claims from people stating that they weren’t informed about significant amounts of commission being paid to the broker or employee who had persuaded them to take out the cover.

Many stories emerged of borrowers feeling pressured to take out PPI, and it quickly became clear this ‘hard sell’ was down to the fact that staff were set to lose out on a hefty sum if you said no.

As a result of The Plevin Ruling, the Financial Conduct Authority was left with the mammoth task of telling lenders exactly how the outcome should be applied. The general definition of ‘mis-selling’ was updated in due course, and after an initial delay in claims processing times due to the uncertainty, the system returned to normal.

What the Plevin Ruling means in 2019

The Supreme Court’s decision has suddenly opened up the potential for a successful PPI refund for two broad groups of people that collectively amount to millions. First of all, there are those who were put off making a claim in the first place due to the ‘commission’ issue not forming the grounds for mis-selling. On top of this, a great number of people who had their original claim rejected on these grounds are now eligible to re-submit their paperwork and hopefully get a positive result.

Each credit card provider, bank, store card company and mortgage lender is obliged to treat each individual case on its own merits, even if they have already seen the claim before the ruling came into effect.

What is the best way to start a claim now?

The Plevin Ruling has inevitably led to a huge surge in claims for PPI being made, and there is now the additional factor of the Financial Conduct Authority setting a final deadline of 29th August 2019 for these proceedings. Therefore, if you wish to make a fresh request for money back on PPI payments under the premise that you were unaware of high commissions being payable to the seller, it is vital to start the process as soon as possible.

By using a PPI claims specialist like Moneyback PPI, the entire process is accelerated and simplified, as they will take your details and contact all of the financial institutions on your behalf. On top of this, they will also take control of persuading them that mis-selling has taken place, and in return for a percentage fee, they will give your claim the best possible chance of success.

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