PPI reclaim older than 6 years

Dannyh1

Hi,

I have a friend who took out loan with PPI about 10 years ago & finished paying about 7 years ago.

He still has all the paperwork.

I know on the guide is says chances of success are 'reduced' - but has anyone here had any sucess in this area?

Many Thanks.

magpiecottage

It depends who sold him the PPI.

roonaldo

There are many lenders (usually subprime) that are not under FOS jurisdiction for pre Jan 05. If so then it will be hard to get a refund.

Dannyh1

Hi

Thanks for replies.

I've been told the lender was Northern Rock - is this a positive or negative? :undecided

PPItechexp

Dannyh1 wrote: »

Hi

Thanks for replies.

I've been told the lender was Northern Rock - is this a positive or negative? :undecided

what are the loan/ppi figures and what was the purpose of the loan? had your friend ever consolidated debt or did they repay a previous loan when they took this one? Even if it isnt in fos jurisdiction (which i think it is) you can still complain to the firm. How is the information about the cost of the ppi presented. If you reply il give u an idea of whether youv got a good job at fos. Did your mate have any pre existing medical conditions or was he self employed?

magpiecottage

Dannyh1 wrote: »

Hi

Thanks for replies.

I've been told the lender was Northern Rock - is this a positive or negative? :undecided

It would depend if Northern Rock sold the policy or not.

DrSqueeze

As far as timescales are concerned, although it may be more difficult to prove misselling the further back you go it certainly isn't impossible. I've had a complaint upheld about PPI on a credit card which started in 1994, and I've read posts from other people going back even further.

If your friend has grounds for making a complaint, he should do so.

ALIBOBSY

There are no timescales on claiming PPI, however the main problem with older claims is proof and the fact the documents are usually gone-lost or destroyed.

Sounds like your friend has the info for the calculations to be done so definately worth banging a claim in, if he has grounds for miss selling as DS says get a claim in. In the initial stages all you can loose is the price of postage and a bit of your time.

good luck
Ali x