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How Far Back Can I Claim Back PPI?

Questions that people have been asking themselves recently “how far back can I claim my PPI?” & “How far back in time can ppi claims go?” Or “How far back can I successfully claim a PPI Refund?” etc.

This is a question that comes up often for claims management companies, more and more as the deadline for claiming looms (all readers of this page need to claim compensation before 29th August 2019.

This article will answer many of the main questions you may have about this subject, so read through carefully.

How Far Back Can A PPI Claim Be Claimed From?

There are claims that have gone back as far as 25-30 years where people have had claims coming from mortgages and loans and credit cards.

The short answer is, there is no time limit retrospectively that a payment protection insurance plan can be claimed for, there has been no structured limit or ruling on time limitations for time going backwards (missold PPI is missold PPI), however there is what is known as the “Six Year Time Limit” but this is not a legal ruling, below we will look at this in further detail.

What Is The Six Year Time Limit?

The “Six year time limit” is the amount of time that a lender MUST retain records of all their customers and their agreements held with them.
Obviously if you have an agreement with the lender that is still active, the records will be retained for the duration of that arrangement and well beyond it, so if the agreement is still active you need not worry about a “six year time limit” and the retention of that information starts from the moment of the termination of that arrangement, not the beginning of it as some people mistakenly believe. The time limit begins AFTER the termination of the PPI policy.
This only applies to people whom have terminated or cancelled or completed their lending arrangement.
This does NOT mean that if your agreement was not made within the last six years that you won’t be able to claim ppi – that is a misconception as many claims going back much further than that have been successfully claimed and refunded, this is not necessarily a problem at all.
The six year time limit was basically the timescale (going backwards) that the financial ombudsman gave the banks and corporations are obligated to give a full investigation if PPI is present.

What It DOES Mean

It does mean however that there is a possibility that the claim will be more challenging to complete, this is because if a claim has gone back beyond the “six year time limit” there is a potential that the company may have destroyed records of the agreement (BUT even that doesn’t necessarily mean you can’t make a claim, get in touch with us for guidance on that matter, we may be able to help you).
By Definition the Six year time limit is: The statutory period by which the banks and lenders MUST retain records of your data.

Differences In How Banks & Lenders Handle This

Some banks and lenders will destroy all records of agreements after six years from which the agreement has been terminated, however there are differences from bank to bank in how they handle data, with your bank or lender this may not necessarily be the case, so it is worth further investigation to ascertain this.
If the banks have lost or misplaced/destroyed the information from an agreement then it may be possible that this information can still be obtainable by us, it may also be possible that an estimate could be provided by them but for this we make no guarantees.

Do You Have Records Of Your Agreements On File?

If you have paperwork relating to your agreements with the Banks’ or Lenders’ on file, then this can help, be sure to check through your things to see if you can find information pertaining to your agreement that you’re looking to claim on (having the documentation can help a claims management company verify that PPI was missold), and most operator on a no win no fee basis..

What Does This Mean For People With Claims From In The Past?

Don’t give up on your claim, there are claims management companies out there in business that would be happy to look into your ppi claim and investigate on your behalf to find out if there is a claim that is valid and worth pursuing.

With the recent ppi deadline being introduced, you have a limited time to pursue your claims (until June 2019) meaning that any claims submitted after that period will not be processed and it will be too late to make your claim, on that basis, it’s advisable that you make contact with either us or an alternative ppi claims company OR look to handle the claim yourself well within the allotted time frame to maximise chances of a successful ppi refund.

(also remember that the ‘time limit for ppi’ mentioned on this page is not the same as the 29th august deadline for claiming, this page is about how far back in time can the PPI claims go to still be claimable.)

Remember This: If your policy that contains ppi is still active, you can start a ppi claim today, this issue will not apply to you.

What About Claims Prior To 2005?

The Origins of the ppi claim influx began with the FSA statement in 2005, calling for a payment protection insurance review, however the banks and lenders were still subject to regulatory rules previous to that, so this should not automatically be an issue with a claim.
Claims dating back further than 2005 have successfully been refunded, so this should not discourage you from making a claim, to this day there are still ppi claims being made from as far back as 2005 that are being successfully refunded.

What About Claims From Years Ago?

Many people ask about claims from some time ago (certain amount of years including PPI policies miss sold 15,17,25,30,35, or 40 years ago).
Our recommendation if this is you is that you make contact with us at the earliest available opportunity so we can assess your claim individually, you can rest assured our claims service is carried out on a *no win no fee basis.
So the takeaway message is: if you have suspected miss sold PPI from further back in time than most other PPI claims, don’t worry, proceed as normal and contact us whether it is 15,17,25,30,35,40 years ago or any time in-between or further back, we will review it individually & inform you as to whether or not we can help you.

How Many Years Back Can I Claim PPI?

The truth is there is no ‘hard and fast’ rule in relation to how many years exactly you can go back with PPI reclaims, it is a good idea to let us review your potential claim as our expertise may prove useful in making your claim a success.
Each claim is different from the next & we have dealt with claims dating back several years so there is no reason to be deterred from getting in touch should you want to reclaim miss sold PPI.
Points For Advice: If the above applies to you
Make sure you check your records, you may have paperwork laying around somewhere that can help your claim, make sure to check thoroughly
Seek professional advice on your next move, be it a ppi claims company or the citizens advice bureau OR the FOS (Financial Ombudsman Service)
If you have terminated your policy, ask for a record of your previous agreement with the lender, if they don’t have this information, one option is to ask for an estimate

Can I Claim PPI From 25 Years Ago?

The short answer is yes you can still submit a PPI claim for miss sold PPI from 25 years ago, however, you may or may not have a harder time winning your compensation, for the sake of speed and to ensure you don’t miss the deadline for claiming PPI, we would recommend you contact us without delay so we can investigate the circumstances of your claim: you may be due substantial compensation.

How Far Back Can You Claim PPI On A Mortgage?

Many people are asking the question: “how far back can I claim PPI on a mortgage?”, the answer is there is no official time limit in terms of claiming back compensation for mortgage related miss sold PPI, however we would advise you to contact us for assistance with your mortgage PPI claim without delay, you could be due substantial compensation and it would be better if we could act on your behalf sooner rather than later.

How Many Years Back Do PPI Claims Go?

PPI claims can go as far back as PPI claims were originally miss sold. There is no specific time limt or limitation in years for claims to go back to. If a PPI claim is valid it may be winnable.
We would invite you to get your claim started ASAP as the deadline is looming and we would like to act on your behalf ASAP.

Should you require assistance & want to check if you have a valid, claimable, ppi claim, fee free to get in touch with us, our contact form is at the upper right hand side of the page. We are more than happy to help you with your potential claim (start your claim now to make sure you are within the time limit for ppi claims).

There is also a complaints procedure for you to take up with the Financial Conduct Authority if you feel you have been badly treated as a victim of misselling.