‘Delighted’: Pensioner receives £10,000 PPI payout – thousands could claim compensation

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Pam Ritchie, 69, received a £20,000 settlement from the banks as PPI (payment protection insurance) compensation in 2013. However, she had no idea she was entitled to thousands more.

The deadline for complaining to a business about mis-sold PPI was 29 August 2019, yet one pensioner has received a further payout since then which could pave the way for other Britons to receive compensation.

The woman from Yorkshire held credit cards from HSBC, Halifax and Lloyds for nearly 40 years and initially received a PPI settlement of more than £20,000.

Pam was happy with the payout and used the money to redecorate her bathroom and pay for repairs to her home.

During the first lockdown of 2020, Pam, who lives and cares for her wheelchair-bound sister-in-law, was contacted by Cheval Legal as her case had been referred from the previous claims management firm she used to reclaim PPI.

She discovered she may be due additional compensation because of a landmark court ruling.

The judge ruled the claimant (Mrs Plevin) was due compensation from the commission that was charged throughout the duration of her “unnecessary” PPI.

Pam told Express.co.uk: “I thought it (PPI) had all but died, because of the deadline for claiming was very publicly known, until I was contacted by Cheval Legal.

“They explained the implications of the Plevin court ruling to me, and that I might be eligible, so I took the view that I would see it through and give a percentage of something rather than gain 100 percent of nothing.”

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The pensioner continued: “I thought if I got £100 I would be happy with that.

“I was quite happy to let them take on the case as I couldn’t have done it myself – apparently it involved a proper legal process rather than simply filling in forms.

“I also thought it would take months on end to get the money, however I received my cash roughly four weeks after the bank agreed to settle my claim.”

She was awarded an additional £10,000 – nearly eight years on from her PPI settlement.

Mrs Plevin’s court ruling has paved the way for thousands more to claim additional compensation.

In 2006, Mrs Plevin was sold a PPI policy to cover her secured loan from Paragon Personal Finance Ltd.

She took a claim to the Supreme Court in November 2014, alleging that the contract and her relationship with Paragon was unfair due to non disclosure of commission and the percentage of PPI that was commission.

The Supreme Court ruled that failure by the lender to disclose to Mrs Plevin the large commissions payable out of her PPI premiums created an unfair relationship between her and the lender and redress was awarded to Mrs Plevin.

Pam, who has worked in the geo-agricultural industry for the past 27 years in Harrogate, used some of her ‘Plevin’ claim payout to take her sister in law on holiday.

The high court ruling has proven that PPI compensation claims aren’t over yet.

Individuals who held credit cards, store cards, loans or mortgages between 1990 and 2013 are now being encouraged to find out whether they could be entitled to compensation.

Payouts are typically issued to claimants 28 days after their settlement.

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