Can I Claim PPI from 20 Years Ago?

Posted on January 14, 2019 by Canary Claims Elderly couple filling out PPI claim forms

The deadline for PPI claims is getting nearer. But just how far back do you need to look for a PPI policy?

The latest figures from the Financial Conduct Authority (FCA) reveal that over £33 billion has been paid to customers for mis-sold PPI policies. This colossal figure indicates just how many policies were mis-sold in the UK. If you haven’t yet made a claim or you want to claim again, there are just eight months left to do so.

The FCA set 29th August 2019 as the official deadline for making claims. This gives you only eight months to find out if you were ever sold a PPI policy and make a complaint to the bank. The deadline aims to encourage people to make a claim and put an end to the mis-selling scandal.

Many people can’t remember if they ever had PPI policies. This is because mis-selling tactics involved telling people it was compulsory or adding it automatically to products. PPI was commonly mis-sold alongside mortgages, loans, credit cards and store cards.

If you’re eager to make a claim before the cut-off date but want to know if you can claim PPI from 20 years ago, read below to find out more.

When Was PPI Mis-Sold?

Most PPI policies were mis-sold in the 1990s, meaning some are 20 years old or more. Many individuals have made successful PPI claims from before then, dating from the 1980s all the way up to the early 2000s.

Can You Claim PPI from 20 Years Ago?

Yes, you can claim from 20 years ago. However, you might find it to be more difficult unless you have the old financial paperwork with evidence of the PPI policy. However, it’s not impossible. Older cases can often be more complex and a claim might take longer. This is why starting soon is essential.

Our financial experts at Canary Claims can try to uncover any mis-sold PPI policies for you. If you can remember the various banks or lenders you had products with, this can help. In either case, we will do a thorough investigation to try to identify PPI on any of your financial products.

Making a Claim before the Deadline

There are a few simple steps to making your PPI claim before the deadline:

Gather the paperwork — Whether you find the paperwork yourself or use a PPI claims company to find it for you, make sure you have evidence of your PPI policy. You can’t make a PPI claim without this.

Contact the bank or lender — This step can be done yourself or by using a trustworthy PPI claims company. With evidence of your PPI, state your case to the bank. This includes how it was mis-sold.

Wait for an outcome — After the bank has acknowledged your claim, it should reply with an outcome within eight weeks. However, for complex cases or ones that are particularly old, it can be longer. If the bank upholds your claim, you should receive your refund shortly afterwards. If the bank rejects your claim, you have the choice to take it to the Financial Ombudsman Service (FOS, which will review your case. Claims sent to the FOS will take longer to be resolved.

With the clock ticking until the deadline, the banks are likely to be busier handling even more claims. Don’t miss your chance to get a refund that is rightfully yours.

Start your PPI claim today with Canary Claims — as a no-win, no-fee [Cancellation charges may apply only if the claim is cancelled after the 14 days cooling off period. The fee would be based on the work done at the time of cancelling at a rate of £120 per hour and up to a maximum total of £180] PPI claims company, we can investigate PPI policies from over 20 years ago. Contact us online to get started.