BritIsh Home Stores (BHS) Store card Plevin PPI COMMISSION ClAIm
IT'S NOT THE END OF THE PPI CLAIMS
PPI has been the biggest financial mis-selling scandal in the world, in which a staggering £38 billion was given back to consumers for mis-sold PPI in compensation by banks & finance providers before the 2019 PPI deadline. However, even after this the PPI scandal is far from over!
The good news is that you can still make new PPI Claims under a new ruling but this time its for undisclosed high commission. This type of PPI claim is separate to the redress scheme that ended in 2019 and is based on the amount of commission you were charged on your PPI policy.
About Britsh Home Stores (BHS)
British Home Stores (BHS) was a British department store chain, primarily selling clothing and household items. In its later years, the company began to expand into furniture, electronics, entertainment, convenience groceries and fragrance and beauty products. The company was founded in 1928 by a group of U.S. entrepreneurs, and had a total of 163 stores mainly located in high streets or shopping centres by the time of its closure in 2016,as well as 74 international stores across 18 separate territories.
BHS was bought by Sir Philip Green in 2000 and taken private. The company became part of Green's Arcadia Group in 2009. Following a number of loss-making years, the company was sold to the consortium Retail Acquisitions Ltd led by the serial bankrupt Dominic Chappell, in March 2015 for the nominal price of £1.
In April 2016, the company entered administration following unsuccessful attempts to continue trading.It was eventually wound down, and all stores were closed by late August 2016 following failed attempts to find a buyer. The overseas franchises and digital business were sold during the administration period to Al Mana Group, who closed down the website in June 2018.
The BHS brand was later bought by ASOS and Boohoo. and now operates online selling ceiling lighting.
PPI were often added on store cards and with the average commission charged at 67%, you may also have been charged a high level of commission on your PPI premium(s). If this wasn't disclosed you could be entitled to make a claim for compensation under a ruling known as the 'Plevin' ruling as this constitutes an unfair relationship. However before making any claim for commission, it is important to find out the level of commission you were charged on your PPI policy premium(s).
What is Plevin PPI?
Plevin refers to a Supreme Court case from November 2014 where Mrs Susan Plevin brought a case against Paragon Personal Finance Ltd regarding her PPI policy. The claim was centred around the commission charges on a PPI policy that Mrs Susan Plevin was sold to cover a secured loan from Paragon.
Mrs Plevin later discovered that in small print of the terms and conditions of the PPI policy that a whopping 71.8% of her premium was the amount of commission she was charged by the lender. She alleged that this was unfair and unclear and took Paragon to court and the case went up to the Supreme Court.
The Supreme Court agreed with Mrs Plevin and her lawyers, and determined that the sale of the PPI policy was unfair because of the following reasons:
- The commission payment was not disclosed;
- The high percentage of the PPI premium that was paid as commission.
This decision set precedent for a new category of PPI claims, and opened the floodgates against banks and other finance firms who had sold PPI to their customers.
With around 64 Million PPI Polices Sold Between 1990 and 2010 there is a significantly high chance that you are eligible for a refund.
How is Plevin different to mis-sold PPI?
Originally the PPI scandal was focused on the mis-selling of PPI and whether the policy was suitable or not at the point of sale. however a Plevin PPI claim's focus is on whether BHS took a high-level commission from your store card PPI premium(s) without telling you about it. If the commission was hidden, or the commission was unfairly high, then this is deemed to be an unfair relationship between the lender and borrower and is eligible for compensation claim.
Plevin claims are based on a completely different area of law, namely the Consumer Credit Act 1974, so they are not subject to the FCA's PPI deadline, hence claims are still being processed today.
Claiming under the Plevin ruling
You could be eligible to make a claim if:
- Your PPI policy was open after 6 April 2007;
- You have not previously complained about Mis-sold PPI to BHS;
- Your PPI Claim was previously rejected by BHS;
- BHS only refunded you 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.
Had PPI with your BHS Store card?
A recent ruling means simply being sold payment protection insurance (PPI) means you're potentially a victim of a different category of mis-selling. Although the PPI deadline has now passed you can still claim back PPI commission from BHS.
BHS was one of many retailers who operated store cards and If you took out a BHS store card between 1990's and 2010 you could be owed money from them. BHS store cards were a type of credit card where you can use them to make purchases in store and pay for them later.
BHS Store cards were sold as a convenient line of credit for customers who could not or did not want to pay in full in one transaction. Generally, retail stores made a profit on shoppers who failed to pay off the balance on the card each month, when outstanding balances would attract interest charges of up to 30%.
BHS Shoppers who signed up to a store card may have also had a payment protection insurance (PPI) policy attached to it.
With the Plevin ruling and subsequent landmark court cases that have come to light, thousands of people who initially thought they were not eligible to claim may now be eligible to make a claim. This is why many BHS customers are checking their accounts to find out if they had PPI and whether they could be eligible to make to commission claim under the Plevin ruling.
If your BHS store card had a PPI policy and BHS took a high-level of commission from your store card PPI premiums without disclosing this to you. Then under the Plevin ruling this is deemed to be an unfair relationship and you automatically become eligible to claim back a PPI commission refund.
Ready To Get Started?
If you believe you could be eligible to make a commission claim under the Plevin PPI ruling please start a FREE PPI Check with MoneyPlus Legal. They'll check your BHS store card agreement and contact them to find out if you have a valid claim.
How we can help with your BHS Store Card Plevin Claim
MoneyPlus Legal is a Plevin PPI Claims specialist, whose core focus is on helping consumers who were sold PPI to use all available and possible options to obtain a legal remedy for compensation of undisclosed & high commission from the finance provider. If you’re unsure whether you are eligible to make a claim under the Plevin ruling please don't worry as MoneyPlus Legal will always conduct a full review of all your PPI credit agreement(s) to establish whether there is a case for unfair relationship.
MoneyPlus legal will use their specialist 'Plevin' PPI claims experience to investigate, negotiate and settle any claim as quickly as possible. Our Plevin PPI Check and claim service is simple and completed on a no win no fee basis* and you will be kept informed throughout the claim process.
Our Plevin Claims Process
Start Your Free
Plevin PPI Check
MoneyPlus Legal will call you to discuss your potential claim, confirm some details & explain the next steps to progress your claim.
Sign & Return Our Pre-Filled Forms
MoneyPlus Legal will send out a claim pack with letter of authority to sign & return back so they can start your Plevin PPI check.
Your Plevin Claim Eligibility Checked
MoneyPlus Legal will contact the lender(s) to ascertain how much commission was charged on your PPI policy & eligibility for a refund.