Reclaim PPI on closed accounts?

adergiman

Just something that I wanted to clarify that if you've run the course of your credit card(s) and closed them off and paid them off, will there still be a point to try reclaim potential PPI fees etc?

To clarify, I had gone into debt management to get rid of all my crap (all clear now by the way, minus the overdraft) and was curious if it were possible for a potential reclaim foot?

Any advice?

dunstonh

If you were mis-sold and have valid reasons for complaint then yes.

However, whilst there are not actual timebars to complaint (there do not exist for all complaint areas) there are potentially issues that do apply on old debts repaid. The lender does tend to start destroying documentation. Typically after 6 years, some 10, some never. So, you are reliant on them still holding paperwork.

The other issue you have is that you went to debt management. If the agreement involved any amount being written off, then the lender can use the redress and pay it towards that amount written off. You would only see any surplus above it.