![]() If Your credit card provider Charged Unfair Commission On Your PPI Policy, Incorrectly Rejected Your PPI Claim, Or Miscalculated Your Redress Payment, You May Be Due Compensation. Potter V Canada Square Ruling - April 2021 This meant that claims are no longer confined to a six-year limitation period from when your credit card/loan/mortgage or other finance ended. This judgment was welcomed by law firms, claims management companies and claimants alike as it strengthened the claimant's argument that these claims should not have a limitation period applied to them due to the concealment of PPI commission levels. The case of Canada Square Operations Limited v Beverley Potter brought a degree of clarity to the issue of limitation points in Plevin Litigation. Read the full Plevin ruling here : Potter v Canada Square - New ruling April 2021 ![]() Ruling in her favour, the court ordered Paragon Finance to refund Susan Plevin the commission she paid with compensatory interest. The Supreme Court ruled that this was a breach of the Consumer Credit Act as Mrs Plevin was unaware of the high rate of commission, and had she known of this she may not have taken out the PPI policy. In the case of Plevin v Paragon Personal Finance Ltd, Mrs Susan Plevin discovered that 71.8% of her PPI premium was actually commission that was taken by Paragon for the sale of the policy. In addition, there have been subsequent landmark rulings in high commission PPI cases which have brought further clarification for claimants and potentially open the floodgates to new claims. The basis of these claims was initially decided in a landmark judgement issued by the Supreme court in 2014 commonly known as the Plevin ruling. The cost of the premium was a percentage of the total balance owed for that month, and if the balance wasn't repaid, then interest would be added.Īlthough the deadline for making mis-sold PPI claims expired back in August 2019, banks and lenders are now be facing more hefty payouts in what is being dubbed, ‘PPI 2’, unfair relationship or undisclosed high commission PPI claims. PPI policies sold with credit cards were normally paid for by monthly premiums, which were added to the monthly card balance. The purpose of PPI was to help consumers meet their credit card payments if they were unable to work due to illness, an accident or unemployment. With over 66m credit cards in circulation in the UK, millions were also sold Payment Protection Insurance (PPI) with their credit card between 19.
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