Miss-Sold PPI claims

Mis-sold Payment Protection Insurance (PPI) refers to insurance policies sold alongside financial products like loans, credit cards, or mortgages, where the policy was either unnecessary, not suitable for the customer, or sold without clear information. PPI was designed to cover repayments if a person was unable to work due to illness, accident, or unemployment. However, many consumers were misled or pressured into buying it.

Claiming a Refund

Many individuals who were mis-sold PPI were entitled to claim refunds. The claims involved getting back the premiums paid, plus interest. The deadline for submitting new claims for PPI mis-selling in the UK was August 29, 2019. However, some individuals can still claim in specific situations, such as if their PPI complaint involves Plevin, a court ruling that allows claims related to undisclosed high commissions on PPI sales.

The "Plevin" Ruling

n the 2014 Plevin case, the UK Supreme Court ruled that if more than 50% of the PPI premium went to commission and this was not disclosed, the customer might be entitled to compensation. Even after the PPI claim deadline, some people can still make a claim based on this ruling.