Were you mis-sold PPI by Capital One? A recent ruling means simply being sold PPI means you were potentially a victim of a mis-selling. Despite the deadline passing you could still claim Capital One Plevin PPI compensation. Find out how today.

Mis-sold PPI was the largest financial mis-selling scandal in the world, with billions being given back to consumers in compensation. The deadline for claiming Capital One PPI compensation passed in 2019, but a recent ruling means UK residents can still receive compensation with Capital One Plevin PPI claims.

Capital One were one of the largest financial firms involved with the PPI mis-selling, and many of their customers in the UK are finding out they are still owed compensation from them. Most of these clients took out a credit card with Capital One. With the Plevin case coming to light, even people who initially thought they were not mis-sold PPI could be eligible to file a case via a Capital One credit card claim.

Our expert panel of Capital One Plevin PPI solicitors are able to inform you whether you are eligible for compensation. If you believe you might have a case, complete our enquiry form below.

Who are Capital One?

Capital One is one of the largest banking corporations in America, specialising in credit cards, loans, banking, and savings accounts. The European arm of the credit card company was severely hit by PPI claims in the final year before the deadline passed, 2019.

Capital One (Europe), based in Nottingham, reported a revenue of £483m 12 months to 31 December 2018, down from £580.4m due to all of the PPI compensation payouts.

In relation to the Capital One PPI Claims, Capital One specifically dealt with credit cards when handing out PPI. 

What is a Capital One PPI Claim?

A Plevin Capital One PPI Claim refers to a Supreme Court case from November 2014. The claim itself is centred around hidden commission charged to Mrs Susan Plevin who was sold a PPI policy to cover her secured loan from Paragon Personal Finance.

Mrs Plevin meticulously read through the terms and conditions and small print of the PPI policy and noticed that 71.8% of her premium  she had paid was actually hidden commission to the lender. She alleged that this was unfair and unclear.

The Supreme Court agreed with Mrs Plevin and her lawyers, and determined that the sale of the PPI policy was unfair because of:

• The non-disclosure of the commission payment; and
• The percentage of the PPI premium that was paid as commission.

This then set precedent for all other PPI claims, and open the floodgates against anyone Capital One had sold PPI to.

Are Plevin cases different to mis-sold Capital One PPI cases?

The original Capital One PPI scandal focussed on the mis-selling of PPI policies. A Plevin PPI claim does not take into account whether the policu was suitable or not, but instead focusses on whether Capital One failed to disclose any high-level commission payments they earned from your PPI premium. If they did hide any commission, or the commission was unfairly high, then this claim is eligible for compensation.

In addition to this, while the original PPI deadline has passed, whereas Plevin Capital One PPI claims are not subject to a deadline. This is because the claim is based on a different area of law, namely the Consumer Credit Act 1974.

Am I eligible to claim Plevin Capital One PPI?

If the below applies to you, you may be eligible to claim:

• Your PPI policy was sold before 6 April 2007 and open after 6 April 2008; or
• Your PPI policy was sold after 6 April 2007 (whether or not it was still open after 6 April 2008);
• You have not previously complained about Mis-sold PPI;
• You have had a PPI Claim rejected; or
• You had a refund for the “Plevin only” part of your PPI (also known as a “tipping point offer”)

The Plevin ruling means that if more than 50% of your PPI’s cost went to hidden commission to the lender, or the lender and the broker combined, and it was not sufficiently explained to you, you are due compensation.

Because Plevin also applies to those who have been turned down historic PPI claims, there could be an additional 1.2 million individuals affected.

How much can I claim for Plevin PPI cases?

How much you can receive for a Capital One Plevin PPI claim will depend on how much your original PPI policy was worth. If the commission on the PPI policy was above 50% of the cost and you were not informed, you are typically entitled to the difference back in compensation.

The FCA has also confirmed that there will be a historic interest rate plus 8% to take into account when doing compensation calculations.

If you believe you have an eligible claim, our panel of Capital One PPI solicitors will be able to tell you how much you could look to recover.

How can ClaimExperts.co.uk help?

At ClaimExperts.co.uk we have compiled an expert panel of Capital One PPI solicitors. They can assist you with your Capital One PPI Plevin claim on a No Win, No Fee basis. To start your free, no-obligation review of your claim, fill out our below enquiry form.

Important Information

Fairweather Group Ltd t/a ClaimExperts.co.uk do not give legal advice. You do not need to use a claims management company to make a claim. You have the right to use the relevant Ombudsman to seek redress for free. More information on your particular Ombudsman can be found on our Terms & Conditions. You can also seek legal advice elsewhere.

The No Win No Fee Success Fee is based on which expert panel member we refer you to and is payable to them. Our panel currently consists of a number of law firms, which can also be found on our Terms & Conditions. The No Win, No Fee varies, but is generally between 25%- 50%+VAT.

There may be a termination fee if you cancel your claim with a panel member after the cooling-off period. We are paid a referral fee by our panel members for a successful introduction. Fairweather Group Ltd will not charge you for our service.