The recent focus of these disputes has been the issue of lenders enticing customers onto contracts that carry extremely high levels of undisclosed commission.
By not informing their customers of these secret commissions, the customer is denied the choice of establishing whether the product they are getting represents value for money to them.
In 2014, the Supreme Court ruled in favour of Mrs Susan Plevin in her case against Paragon Personal Finance. Mrs Plevin, who had taken out a bank loan and a PPI policy to cover the loan, wasn’t told that a secret commission worth 71.8% of the total cost of the product was paid by the lender to the broker. Mrs Plevin successfully sued the lender on the basis that the presence of the hidden commission made the relationship between the two parties unfair.
Following the landmark case and settlement, the door has been thrown wide open for other people who have purchased a PPI premium to come forward and check if they have a claim.
You could be eligible to make a claim if you:
- Purchased a PPI policy
- Had a partial refund or your misselling claim was rejected
- Weren’t told about the commission at the point of sale
Unlike with PPI claims, which expired in August 2019, there is no set timeframe for how long it takes to make a Plevin claim. You also can’t make a claim yourself; you must instruct a solicitor to do it on your behalf.
Here at Hattons, we have a team of experts who would be happy to assist you in pursuing a Plevin claim. If you would like to find out more about Plevin or the claims process, call our expert legal team on 01744 411053 or fill out our contact form below.
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