Ppi

Justmethistime

I am owed around 7 years of PPI from bank, however dates back to 1994-2001.
Have I run out of time?
I have been putting off claiming for years, quite stupid really.
Can anyone tell me if I am wasting my time submitting an application for refund?

[Deleted User]

You don't put in an application for a refund. You make a complaint about why you think it was mis sold to you.

It's highly unlikely there will be any records remaining after so long.

dunstonh

I am owed around 7 years of PPI from bank, however dates back to 1994-2001.

If you havent put in a complaint yet, how do you know you are owed anything?

Have I run out of time?

Not yet but you may find that data/info no longer exists going back that far.

Can anyone tell me if I am wasting my time submitting an application for refund?

You dont make an application for a refund. You make a complaint stating what you think the seller of did wrong.

BooJewels

Deleted_User wrote: »

It's highly unlikely there will be any records remaining after so long.

I think that depends on the individual organisation, I had a complaint upheld in respect of a bank secured loan that was older than that, so some clearly do retain long records.

[Deleted User]

Indeed. That was why I said unlikely.

Justmethistime

Yes I phrased original post incorrectly, understood.
How do PPI firms(those purporting to deal with claims) manage to check individual's information for PPI?
Just a thought!

[Deleted User]

They ask you to tell them.

BooJewels

Justmethistime wrote: »

How do PPI firms(those purporting to deal with claims) manage to check individual's information for PPI?

Do you mean claims management companies, like the ones you see advertising on TV? If that is what you meant, then please don't use one. If it was a bank, then just visit their web site and search out the details on their PPI complaint procedure. If you use a CMC, they'll just take a whopping commission to undertake a task that you can do yourself for free.

I think most banks etc publish complaint forms online that you can download, print and complete and post off to them, if you have details of the original borrowing. If you don't have the details, ringing them first might set the ball rolling. When I rang my bank they were able to give me details of all the accounts that had protection there and then on the phone, going back over 20 years.

[Deleted User]

BooJewels wrote: »

When I rang my bank they were able to give me details of all the accounts that had protection there and then on the phone, going back over 20 years.

The key part of your post there was that you rang YOUR bank.

Many people have had multiple accounts with different lenders over the last two decades.

It is far far more likely that Banks still hold records if the customer still has an open account than if the account is closed.

The longer ago the account was closed, the less likely the lender will have kept records...

Justmethistime wrote: »

How do PPI firms(those purporting to deal with claims) manage to check individual's information for PPI?
Just a thought!

If there are no records of specific finance and/or PPI, no Claims Company can "magic" these up. In such circumstances the complaint will stall completely with or without the involvement of a CMC.

CMCs have no special investigative abilities and can do nothing the complainant cannot do themselves and for free. The fees charged by Claim Companies are therefore extortionate (fully a third of all redress plus VAT).

Just a different thought...

BooJewels

Moneyineptitude wrote: »

The key part of your post there was that you rang YOUR bank.

I hadn't actually considered that as being pertinent; still being an active customer. Thank you.

I do also feel that the customer has some responsibility - I think if you expect an organisation to part with some dosh in your direction, you should be able to provide them with enough detail to start the ball rolling.

cleeside

I've just received £2300 back from Lloyds & MBNA from loans and credit cards dated between 1995 & 1999. I didn't know I had PPI and I had no information about it at all. I did the PPI check on their websites and they basically just refunded the money. My advice would be to think who you had credit with and check direct with the organisation and cross fingers. It worked for me, good luck.