Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Justmethistime
    • By Justmethistime 9th Mar 18, 12:15 PM
    • 3Posts
    • 0Thanks
    Justmethistime
    Ppi
    • #1
    • 9th Mar 18, 12:15 PM
    Ppi 9th Mar 18 at 12:15 PM
    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?
Page 1
    • zx81
    • By zx81 9th Mar 18, 12:40 PM
    • 17,227 Posts
    • 18,308 Thanks
    zx81
    • #2
    • 9th Mar 18, 12:40 PM
    • #2
    • 9th Mar 18, 12:40 PM
    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
    • By dunstonh 9th Mar 18, 12:42 PM
    • 92,974 Posts
    • 60,354 Thanks
    dunstonh
    • #3
    • 9th Mar 18, 12:42 PM
    • #3
    • 9th Mar 18, 12:42 PM
    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.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • BooJewels
    • By BooJewels 9th Mar 18, 12:47 PM
    • 278 Posts
    • 207 Thanks
    BooJewels
    • #4
    • 9th Mar 18, 12:47 PM
    • #4
    • 9th Mar 18, 12:47 PM
    It's highly unlikely there will be any records remaining after so long.
    Originally posted by zx81
    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.
    • zx81
    • By zx81 9th Mar 18, 12:49 PM
    • 17,227 Posts
    • 18,308 Thanks
    zx81
    • #5
    • 9th Mar 18, 12:49 PM
    • #5
    • 9th Mar 18, 12:49 PM
    Indeed. That was why I said unlikely.
    • Justmethistime
    • By Justmethistime 9th Mar 18, 2:31 PM
    • 3 Posts
    • 0 Thanks
    Justmethistime
    • #6
    • 9th Mar 18, 2:31 PM
    Query...
    • #6
    • 9th Mar 18, 2:31 PM
    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!
    • zx81
    • By zx81 9th Mar 18, 2:33 PM
    • 17,227 Posts
    • 18,308 Thanks
    zx81
    • #7
    • 9th Mar 18, 2:33 PM
    • #7
    • 9th Mar 18, 2:33 PM
    They ask you to tell them.
    • BooJewels
    • By BooJewels 9th Mar 18, 3:11 PM
    • 278 Posts
    • 207 Thanks
    BooJewels
    • #8
    • 9th Mar 18, 3:11 PM
    • #8
    • 9th Mar 18, 3:11 PM
    How do PPI firms(those purporting to deal with claims) manage to check individual's information for PPI?
    Originally posted by Justmethistime
    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.
    • Moneyineptitude
    • By Moneyineptitude 9th Mar 18, 11:46 PM
    • 20,404 Posts
    • 11,307 Thanks
    Moneyineptitude
    • #9
    • 9th Mar 18, 11:46 PM
    • #9
    • 9th Mar 18, 11:46 PM
    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.
    Originally posted by BooJewels
    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...

    How do PPI firms(those purporting to deal with claims) manage to check individual's information for PPI?
    Just a thought!
    Originally posted by Justmethistime
    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...
    Last edited by Moneyineptitude; 10-03-2018 at 8:41 AM.
    • BooJewels
    • By BooJewels 10th Mar 18, 1:04 AM
    • 278 Posts
    • 207 Thanks
    BooJewels
    The key part of your post there was that you rang YOUR bank.
    Originally posted by Moneyineptitude
    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
    • By cleeside 10th Mar 18, 10:55 AM
    • 20 Posts
    • 12 Thanks
    cleeside
    Old PPI
    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.
    • Moneyineptitude
    • By Moneyineptitude 10th Mar 18, 9:12 PM
    • 20,404 Posts
    • 11,307 Thanks
    Moneyineptitude
    I didn't know I had PPI
    Originally posted by cleeside
    Not surprising that you had forgotten agreeing to it TWO DECADES ago.
    they basically just refunded the money.
    Originally posted by cleeside
    Yes. Sometimes Banks will refund without any investigation just to be rid of the complaint once and for all.

    Most complaints based on simply forgetting about the insurance will, of course, fail...
    • Justmethistime
    • By Justmethistime 12th Mar 18, 5:49 PM
    • 3 Posts
    • 0 Thanks
    Justmethistime
    Thank you
    Please you got some money back Cleeside, I will try online form, thank you!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,319Posts Today

8,135Users online

Martin's Twitter
  • Nearly at the Cheshire Show. Doing an @itvMLshow there today and tomorrow. Do say hi if you're there or ask a question.

  • Good morning. I'm on the train to go to the Cheshire Show today to film for an @itvmlshow Roadshow. Looking forwa? https://t.co/T0uKOKyj4I

  • Early days, but so far a huge majority - 19 in 20 people - support legalising cannabis for medical use. Whereas t? https://t.co/a3gJipQITc

  • Follow Martin