Want to know how far back can you claim PPI?
How far back can you claim PPI is a question asked by many. Let us shed some light on this FAQ!
Think that you have a valid PPI claim?
If you do, then this guide will help you not only learn when you can check for PPI but also how to make your claim too.
Isn’t the deadline 6 years?
Many people believe that a PPI claim must be made within 6 years of the account being taken out. This is certainly not the case. The 6 year rule applies to the end date or closure date of the agreement and whilst it does make things easier if the account is relatively new; those accounts which are older are certainly not exempt from making a PP claim against.
Where did the 6 years come from?
You are probably wondering where these murmurings of 6 years have come from. It applies to the 6 years that lenders are required to keep your details on file by law. Remember this is 6 years from the closure of the account, during the time that your agreement is live, your details relating to it must be kept.
How to claim for PPI
Believe that you are within the 6 year period and are looking to make a claim for PPI? Then there is a good chance that you will want to know exactly how to make your claim. The easiest method has to be getting in touch with a PPI claim company, one has plenty of experience and knowledge in the industry.
However, you can decide to pursue your claim yourself. The process can be split down into 3 main steps.
1) Find all the documents that relate to the PPI claim that you believe that you have. Ensure that you take copies of absolutely everything that relates to the policy, including the payments that you have made on it. You can never have too many documents, so if you think it will be useful then take a copy of it.
2) Once you have all the details that you need, it is time to write to the credit card, loan or mortgage provider concerned. There are a variety of template letters available for you to download and use, or, alternatively, many banks and lenders have an online form that you can fill in. You will need to ensure that you send through copies (not originals) of all the documentation that you have. This will help your claim.
3) If you do not hear back from the lender within 8 weeks, then it is time to pursue the complaint with the Financial Ombudsmen Service (FOS). This will however mean that you will need to fill out a further form.
Use a professional company to check for PPI
One of the best tips when it comes to claiming for PPI is to make sure that you choose one of the high quality PPI claims companies out there. By doing this you can make sure that you are going to receive expert advice and guidance and receive the money back that you deserve quickly, and with minimal hassle.
So, whether you have a recent claim, or want to check for PPI on an older account, get in touch with a dedicated we fight any claim PPI companies and you can be sure to get the answer that you are looking for. Hopefully the FAQ ‘how far back can you claim PPI’ has been answered for you!