Money Saving Expert’s founder Martin Lewis has reported that PPI refunds are not only to be received by those who were mis-sold the product, meaning that many more people who have previously purchased PPI could have grounds for claiming back their rightfully owed money.
Lewis has proclaimed that not only are people owed their money back after having been mis-sold the product, but consumers can also make claims when a substantial amount of commission was being received by a third party such as a financial advisor when the client purchased PPI.
This recent revelation has come about on considering the implications of Susan Plevin’s case, wherein a financial advisor received a large amount of commission when Plevin purchased the PPI.
Plevin’s case indicates that she was most likely put under immense pressure to purchase PPI from her financial advisor, who would have initially been paid to provide Plevin with unbiased, honest advice, but was clearly greatly influenced by other factors.
Lewis reported that in order for commission to be considered substantial enough for a consumer to make a claim, the value received must be 50% or more on the financial advisor’s behalf from the PPI product. If an individual’s case is found to involve such a high amount of commission, they may be able to make a successful claim, just as Plevin did, to receive a large PPI refund.
As it stands, the Plevin case is still in question, the result of this case will determine if others can follow and claim on the grounds of substantial commission. The Plevin case has a deadline to be concluded by 31st December 2017.This will allow sufficient time if there are consumers who have fallen victim to similar circumstances to claim back money rightfully owed to them by the time the 2019 deadline is enforced.
Financial specialists such as Lewis are urging victims of the PPI scandal to seriously consider if they could be owed any money for a PPI refund, on substantial commission grounds, or grounds of mis-selling.
With the probable deadline drawing nearer every day, and a growing number of grounds on which you should be able to claim, it is highly important that you check to see if you are eligible to claim back PPI money which you could be owed.
If you have any reason to believe that you may have grounds on which you could claim a refund for PPI, it is important to act quickly.
The process is easy; you can begin your free check today to see if you are owed a PPI refund. The only information we will need is your name, date of birth and address, and we will be able to send you the pre-filled forms, for you to simply add your signature for your application. Don’t worry, WE DO NOT NEED ANY ACCOUNT numbers, you can count on us to ensure you receive your rightfully owed money.
Now is a better time than ever, start your application and you could receive a large repayment which you certainly won’t regret.