Elaine Walker will head up the new department at CEL Solicitors dedicated to supporting and assisting those who have experienced financial mis-selling, known as ‘Plevin’ claims
Liverpool law firm CEL Solicitors has expanded its board of directors as it launches a new practice area to tackle the growing number of financial mis-selling claims from consumers.
Headed up by financial litigation expert Elaine Walker, the new department is dedicated to supporting and assisting those who have experienced financial mis-selling, most commonly experienced among those who have been given unsuitable advice relating to mortgages and pensions.
Financial mis-selling cases, or Plevin claims, are when a lender was paid what is deemed an unfair amount of commission for a PPI claim without the consumer’s knowledge. Ms Walker, who has more than 18 years’ experience in the industry, joins the firm’s 30-strong team at CEL, which also specialises in housing disrepair, data breach and Japanese Knotweed claims.
Her role will include growing the new practice area’s team, developing processes and building contacts, primarily focusing on Plevin claims to begin with.
Related to the high level of commission earned by a lender or broker for recommending a particular product, Plevin claims arise when the consumer is not aware of this process and has this commission added to the cost of their PPI. This means that many PPI mis-selling cases which were originally rejected can now be reconsidered.
Ms Walker said: “Helping raise awareness of Plevin to mitigate the impact of financial mis-selling is something I’m extremely passionate about. It is widely accepted that the PPI deadline had passed, and while this is true for the claims themselves, it is still possible to claim against the high levels of commission alone.
“In some cases, this can be up to 67% of the PPI claim, so it’s an issue that is gathering momentum as more people begin to understand it.”
To be eligible for a Plevin claim, claimants would not have had the risks associated with the financial product explained to them, or given full information upon purchasing. Following Ms Walker’s appointment, CEL is now looking to grow its wider team further, with the data breach department looking to increase in size.