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Plevin Verdict

If you have been affected by the PPI mis-selling scandal like millions of other Britons chances are that you have come across the word Plevin while scavenging for every bit of information possible on PPI. Each time you came across the word Plevin you wondered what it is and what it means to you. Here we discuss what Plevin is and the implications of the Plevin Case.

What is Plevin?

The only way you could prove that you have been mis-sold the insurance was by proving that the money lender failed to abide by certain guidelines when selling you a financial product. This was literally the only way to prove that you were a victim of a scandal that affected millions, that the lender had some commercial gain in selling you the policy.

Even though close to £27.7bn have already been given away as compensation there were many complaints that were rejected on incorrect grounds. It was only after the Plevin case that the banks’ hypocrisy regarding definition of mi-selling was exposed.  

The Definition of Mis-selling

There are a number of ways that the policy could have been mis-sold to you and these include:

  • The policy was added to the finance agreement without your complete knowledge
  • You were told that the policy was mandatory and that you had no choice but to sign up for it
  • It was sold to you even though you were ineligible for the cover
  • You were already insured through another policy but were still sold the PPI insurance which meant you could never benefit from it
  • You were not informed of the ridiculous exclusion policies which you probably wouldn’t have agreed to.

The Plevin Case

Mrs Susan Plevin is one of those million Britons that was mis-sold the insurance policy. She is a widowed college lecturer who had applied for a loan of £43,000 from Paragon Personal Finance. She hadn’t realised that she had made a mistake by contacting the lender through a broker. She had been told that a certain commission had been paid for by her at the time of borrowing but she wasn’t told exactly how much.

It was only after a lot of time had passed that she realised that the commission she thought to be a small amount was actually as huge as 72% of the PPI premium. The matter was raised in the Supreme Court and the judgement simply turned the tables around. The judgement redefined the definition of mis-selling of the scandal and this brought hope back to millions of people whose compensation claim had been shot down by the banks.

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