Can claims companies go back further than DIY?

1cat2fish

Hello, we have been told by a claims handler that they can claim back up to 20/25 years, but if we do it ourselves we can only go back 6/7 years. Is this true? I'm sorry have never claimed any thing before and not really sure how it works. We have tried to access credit files and failed the security questions which is why we looked at the option of a claims handler. We must be a complete numpties. Not really sure if we can take it any further ourselves if we can't access credit files.

[Deleted User]

1cat2fish wrote: »

Hello, we have been told by a claims handler that they can claim back up to 20/25 years

Claims companies have no special ability that you do not have yourself. Complaints about old loans are usually dependant upon the availability of documentary records, either kept at the Bank or from your own personal archive. If neither you nor the Bank have kept such records then a CMC cannot do anything and any complaint will fail on that basis alone.

CMCs are a waste of money. The do very little and charge a lot.

dunstonh

Hello, we have been told by a claims handler that they can claim back up to 20/25 years, but if we do it ourselves we can only go back 6/7 years. Is this true?

No. Its a typical cold calling claims company lie. The CMC use the same free of charge complaints process you were to use. The data held by the lender/firm is the same whether you use a CMC or DIY.

I'm sorry have never claimed any thing before and not really sure how it works.

Effectively, you are making a complaint and you give your reasons for complaint. As simple as that.

We have tried to access credit files and failed the security questions which is why we looked at the option of a claims handler.

Your data is not in the public domain. So, any CMC saying they have info on you is in breach of data protection.

roonaldo

There isnt such thing as a 'claim' its just a marketing ploy by CMC's to make you sign up with them as if its some sort of entitlement only they can obtain.

You need to complain about the sale of the policies, you can do this on the telephone to the bank! All a CMC does is send a letter on your behalf with a load of lies on, weakening your complaint if anything.

If you failed the security questions then the CMC wont be able to gain any information you cant. If its 25 years ago then its likely the data has been destroyed, meaning you might as well give up.

Insider101

1cat2fish wrote: »

Hello, we have been told by a claims handler that they can claim back up to 20/25 years, but if we do it ourselves we can only go back 6/7 years. Is this true? I'm sorry have never claimed any thing before and not really sure how it works. We have tried to access credit files and failed the security questions which is why we looked at the option of a claims handler. We must be a complete numpties. Not really sure if we can take it any further ourselves if we can't access credit files.

Typical CMC lies. You can complain as far back as either you or the bank have records. The process is no different whether you complain directly or through a CMC. Do bear in mind you need valid reasons though.

dinkypo

Banks have a legal obligation to keep records for six years, but most keep records for longer than this. The basically look at your account and see what year the earliest statement is. CMC's do not have any more power than you do. It's just a lie to get you to sign up with them.
I suggest just filling in the questionnaire and sending it off to your bank. If they can't find anything, you've not lost anything.

roonaldo

dinkypo wrote: »

Banks have a legal obligation to keep records for six years, but most keep records for longer than this.

Sorry i'm in a pedantic mood but theres no legal obligation of six years at all.

Insider101

roonaldo wrote: »

Sorry i'm in a pedantic mood but theres no legal obligation of six years at all.

This is the correct answer. The only legal obligation under the DPA is to keep records no longer than they are necessary. How long they are thought to be necessary is a matter of legitimate commercial judgement and sometimes comes back to bite you where it hurts. Six years is common because it coincides with the time frame set out under the statute of limitations. However, as the regulated complaints process also imposes the three years since you became aware rule as an overriding factor, longer and longer retention periods are becoming more common.

1cat2fish

Thank you everyone. That's very helpful.