PPI How Far Back is Possible please?

russellsnr

Hi, I no this question has probably been asked before but there are over 500 pages on here alone.
I wrote to my bank and the response was "I have searched what documents we hold on file, unfortunately we only hold paperwork for the last 7 years which is the guidelines set out by the FSA.
If you do have any paperwork in regards to any loans at all that you previously had with us"
As we have been customers for approximately 40 years with the bank and many loans where taken out early in married life we obviously do not hold paper work for them.
Is this statement of 7 years binding and correct please?
Thank you
Russ

[Deleted User]

russellsnr wrote: »

As we have been customers for approximately 40 years with the bank and many loans where taken out early in married life we obviously do not hold paper work for them.
Is this statement of 7 years binding and correct please?

You could write a Subject Access Request (SAR) letter;

https://forums.moneysavingexpert.com/discussion/1475553

which costs £10 per lender but might throw up details from earlier than seven years ago.
I wouldn't get your hopes up about your early loans if they were thirty to forty years ago, though! Any complaint from that far back would most definitely be time barred.

russellsnr

Hi, Thank you for the reply.
Unfortunately any loans etc we had with the bank are more than 6 or 7 years ago from the late 80's through to the and beyond the 90's
so reading the advice posted under the SAR form it states that it will only serve for 6 years back.
Thank again
Russ

[Deleted User]

russellsnr wrote: »

so reading the advice posted under the SAR form it states that it will only serve for 6 years back.

No, they will only guarantee to cover the last six years, but the Bank must divulge all records which have been kept regardless of age. It's therefore possible for older material to appear too.
So it's your call whether you want to gamble that £10. What complaint reasons would you give for these very old loans?

xyellowx

ive started a claim this week and wanted to know the answer to your question on monday heres what ive found out this week

halifax - have given me details to all my loans with them going back 15 years (they keep them in there archive). but cant give me details of a black horse finance loan which was paid off over 7 years ago as they dont keep that info

tsb have today with proof of id given me the details to 2 loans i had with them 15 years ago on a old bank account

black horse fin said they didnt keep the info and as i cant/havnt got any info tough luck

capital i had to write to asking if id paid ppi

halifax been very helpful but i still bank with them so maybe thats the reason
what bank you dealing with out of interest?

dunstonh

The guidelines are that data should not be held any longer than is necessary. The FSA guidance is 6 years. Some will hold on for longer. Some will not. There is no hard and fast rule.

russellsnr

xyellowx wrote: »

ive started a claim this week and wanted to know the answer to your question on monday heres what ive found out this week

halifax - have given me details to all my loans with them going back 15 years (they keep them in there archive). but cant give me details of a black horse finance loan which was paid off over 7 years ago as they dont keep that info

tsb have today with proof of id given me the details to 2 loans i had with them 15 years ago on a old bank account

black horse fin said they didnt keep the info and as i cant/havnt got any info tough luck

capital i had to write to asking if id paid ppi

halifax been very helpful but i still bank with them so maybe thats the reason
what bank you dealing with out of interest?

Hi, We use the Clydesdale bank.
I have now requested with the use of the form provided here for all our information.
If it works it's a good £10 spent if it doesn't :cool:
Russ

janetnbecks

OH has just won a PPI reclaim from 1998-2000 but he DID have the original paperwork showing breakdown (front loaded) PPI.The Bank in question must have had the records as they knew it was paid off early and calculated the redress on that basis.OP, I would try a SAR - you never know

russellsnr

Hi, This is the reply we received from the Clydesdale Bank.
"I could certainly go ahead with ordering a data subject request for yourself which as stated in your letter has a cost to yourself of £10, however this will only provide you with account numbers for accounts that you have held with ourselves. This will not act as evidence of any Payment Protection Insurance on any borrowing (Personal Loans and Mortgages) that you have had with the Clydesdale Bank. It is important that we are provided with policy numbers for us to proceed with any claims out with the 7 years time frame that we hold documentation for.

If you would like me to proceed with a Data Subject Request please reply via email or by contacting myself at the branch on ........

IF the above is correct (This will not act as evidence of any Payment Protection Insurance on any borrowing (Personal Loans and Mortgages) that you have had with the Clydesdale Bank.) I cannot see what good this would do within a claim.
But I also cannot understand if they are correct why the draft for the SAR letter would be posted within this website unless the 6 year clause comes into affect.
Is there another road to go down with this or do you feel we would be flogging a dead horse, so to speak?
After talking we believe that we started any borrowing with the bank around 1982 through to 2006.
Thanks
Russ

dunstonh

If you are talking about mortgage protection, then it wont appear with the agreements anyway. Mortgage insurance is standalone. That is part of the reason why there are fewer complaints about mortgage insurance as for most people it is set up correctly.

russellsnr

Hi, Many thanks for all the replies.
There is one thing that I find about this PPI that does not add up IMO.
Why only six years is or seems to be the guideline to go back.
I no if you have paper work it makes life a lot easier.
If you were sold PPI in 2006 and that was done incorrectly then if you were sold PPI in the 1980s it was still done incorrectly and I believe that the mid 80s onward through the 90s was the time when borrowing was at its height, maybe wrong there?
If you borrowed say £500 back in 1980 and failed to pay it back for some reason then go back to the same bank today and try to borrow £5000 would the 1980s come back to bite you?
Russ