Claim PPI as far back as 10 years, really?

DocHants · 24 January 2011 at 10:37AM

I was always gutted when I heard you could claim back PPI if sold it withitn the last 6 years, as I vividly remember the conversation I had with Black Hourse, when I asked if I could have the loan without the insurance, and was basically told, that I would be unlikely to get the loan without it...!

Ive recently seen ads with companies saying you can claim upto 10 years, I thought great.. my loan started in 2002, and was settled in Jan 2005 when we got a mortgage, so paid off the remaining £4.5k.. now I know the process can be done yourself, and these companies are simply making money from you... but is this trued, upto 10 years?

Could I reclaim the insurance premium I was paying for 3 years???

tifosi · 25 January 2011 at 12:41AM

Dont see why not when people on the forums have had claims back to the late 80's!

Look at it this way, if it wasnt possible, why would they waste money advertising it?

Do you have the account numbers/ any paperwork?

If so, go for it!

dunstonh · 25 January 2011 at 10:37AM

It depends on how it was sold and the regulatory status of the firm at the time and how long time has gone by. Time is an issue in some circumstances.

Look at it this way, if it wasnt possible, why would they waste money advertising it?

Claims companies make most of their money on the up front fees people pay. They put in complaints about everything and anything, even when there is no reason for complaint. One complaints handler at a financial firm said that over half the complaints they get from claims companies dont even have the product that is being complained about. The compliance company I use has said around 1/3rd of all complaints they handle are obvious try-it-ons and nearly all come from claims companies. So, just because a claims company says something or does something, doesnt mean its right.

DocHants · 25 January 2011 at 7:09PM

In a strange twist of fate, I wa tidying up my cupboard recently and I actually found the policy documents from 2002, from Blackhorse, confirming that I was to pay nearly £1800 PPI....

Ive just emailed off a request for full refund...

I do hnestly remember the pre loan interview and I did ask for the cost of the loan without PPI, and was told that due to my credit history, they would not be able to offer the loadn without it...

I know its an old policy, but if I was mis-sold it, then I was mis-sold regardless of when it was.... maybe Im just about to get lucky, Im well overdue some luck, and it was strange just stumbling across that policy doc.. I was thinking id have to contact them and try to get some info from them, but now im armed with the policy doc itself...!! Ill let you know, but I aint holding my breath!!!

roonaldo · 25 January 2011 at 10:13PM

there is time barring issues now so 2002 would be too long ago

DocHants · 26 January 2011 at 10:07AM

Thats a bit annoying.. I took the agreement out in 2002, over a 60 month term, but settled it on 10 jan 2005... so really, its not that long ago... its worth a try!

amersall · 26 January 2011 at 10:39AM

DocHants wrote: »

Thats a bit annoying.. I took the agreement out in 2002, over a 60 month term, but settled it on 10 jan 2005... so really, its not that long ago... its worth a try!

Hi there, i had a loan taken out in 02 and settled in 05 and i won mis sell with this, also i won with a loan from the 90s, as others on this forum have too. Good luck with this and please keep us posted.

peadars · 26 January 2011 at 5:23PM

in similar position as you,i have had catalogueaccount also lloyds personal loans on two seperate occasions plus two credit cards with ppi. i have some paperwork but too scared to start ball rolling. i wish you luck and will keep checking in to see your victory post

di3004 · 26 January 2011 at 5:51PM

I was successful in reclaiming loan ppi from a case in 2001, this was last year, so give it a go, you've nothing to lose, good luck.;)

di3004 · 26 January 2011 at 5:53PM

peadars wrote: »

in similar position as you,i have had catalogueaccount also lloyds personal loans on two seperate occasions plus two credit cards with ppi. i have some paperwork but too scared to start ball rolling. i wish you luck and will keep checking in to see your victory post

If you have your reasons for being mis sold, then go for it, remember lloyds have stacks of these complaints, so don't feel alone, your only reclaiming as this is your rights if you've been mis sold.
Don't worry about the paperwork, if you have your account number then that is fine.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Good luck.;)

DocHants · 5 January 2012 at 10:11AM

Thought I would let everyone know that it was a success!!!!

I got over £3200 just before decmber.. which was nearly double what I thought I may have gotten! This was perhaps because I was originally told on the phone I would be getting around £1800 back, which I was made up with, then a week later, I called again, and was told £3200, which I couldnt quite believe! The amount was made up of £1800 in ppi payments, and around £1400 in interest!!!

I urge anyone doing a PPI claim NOT to use a cmopany. they do nothing you cant do yourself.. they simply fill and submit forms on your behalf. All financial institutions have PPI cliam forms, that are really easy to complete, as I submitted one to Black Horse as Id had a very small second loand with them, so thought what the hell, and claimed this back myself, got £300!

Luckily I had used a cmopany that only charge 15%, but wish I hadnt even done that.. seriously, do it yourslef, photocopy all forms and send special delivery...

Took nearly 10 motnhs from submitting a claim to getting a cheque.. and to think, I nearly didnt even bother as I thought it was too far back, as most places tell you it must be within last 6 years!

Good luck!!

Claim PPI as far back as 10 years, really?

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