How far can you go back?

Yorkie1974

I'm moving over from being a lurker on the 'Debt Free Wannabe' page (finally debt free after six years!) and now want to see if I can boost my savings balance by claiming back some dodgily-sold PPI.

I've put in claims on two Halifax loans using the basic forms - that's very straight forward, but we had a number of other PPI policies dating back about 10 years - all linked to accounts that are now fully paid off and closed - including:
- Mothercare account card from 8 years ago (bitter about this, as one time my wife did try and claim some money when she was off work with a bad back, she was refused)
- Masterloan dating back to 1999
- Egg card dating back to around 2001.

What are the time limits for claiming these back? I rarely chuck away paperwork, although my filing is pretty bad, so if it is worth a few hundred quid, it is probably worth me spending some time rooting through old paperwork boxes. If not, I won't bother.

How long can you go back to claim misselling?

dunstonh

What are the time limits for claiming these back?

There are no limits with regards to complaining. However, there are potential issues with regards to paying redress. Many firms destroy data after 6 years. Not all of them but it is increasingly the case. Especially on closed accounts. If the firm no longer holds paperwork, you will be required to supply your copies.

There is also the potential of the 3/6 year rule for FSA regulated firms. You have 6 years from the date of sale to put in a complaint or 3 years from when it is reasonable you were aware of a potential issue. You are past the 6 years on these but the 3 year may or may not be an issue. It would take some persuasion by a firm to get the 3 year rule applied at this stage IMO.

Obviously, the key thing is whether you were mis-sold or not and what documentation you can supply to show this or what documentation they can supply to counter it. Just having PPI is not grounds for complaint.