How Far Back Can You Claim PPI?

Posted on March 1, 2018 by Canary Claims A clock next to stacks of coins

Here, we answer the common question: how far back does PPI go? You might be surprised at just how far back you can claim PPI from!

Payment protection insurance (PPI) is an insurance product designed to protect you in the event that you are unable to make a payment on a debt or loan because of a crisis, such as death, illness or unemployment. In the 1990s, the banks realised what huge profits they could make selling the insurance. From this, the mis-selling of PPI began.

Many claims were sold nearly 30 years ago and, as consumers catch up and look to discover if they can make a claim, there is confusion as to how far back PPI claims go. Here at Canary Claims, we seek to answer the questions people have and help you with your PPI claims, so here’s a clear guide to just how far back a PPI claim can go.

How Far Back Can I Claim PPI?

An important figure to remember is six years. All financial institutions are required to keep documentation of their accounts for six years. So, if the bank does not have documentation of your account within this period, they are not meeting regulatory standards.

For example, if you opened a loan in 2000 but finished paying it off in 2010, the six-year time frame would begin in 2010. The bank would be required to keep paperwork until 2016. After that, they have no obligation to keep track of your information. Some banks follow the rules exactly and get rid of records right at the six-year mark. However, there are banks that do keep records for longer.

Below are different scenarios about PPI claims and time-frames, bringing together all the essential information you need to know about how far back PPI claims can go.

If you are still paying PPI

If you happen to still be paying PPI on a loan, mortgage or credit card, it will be easy to check your latest statements and see if PPI is on there. Remember that it might be listed as another name, such as “loan protection” or “account cover”. If you do find PPI on your statements, start your claim right now.

If you had PPI on a product closed within the past six years

If you were mis-sold PPI on a product you paid off within the past six years, you may be in luck and be able to get information straight from the lender. Even if the account was closed, it doesn’t mean you cannot file a claim.

As mentioned, the six-year mark is from when your debt has been closed or is considered inactive. It does not start from when the account opens.

For example, if you had PPI on a mortgage you took out in 1994 and you paid off the mortgage in 2014, the bank will still have the details about the account, because it was less than six years ago.

If your account has been inactive or closed for longer than six years

Even if your account is inactive or has been closed for longer than six years, it’s still possible to make a PPI claim. As long as you have the proper paperwork and information to provide to the bank that you had the policy and that it was mis-sold, they are required to investigate your case. You can claim back as many years beyond the six-year time limit if you believe that PPI was mis-sold to you. If you have all of the correct paperwork, it will make the claim easier.

You’re not sure if you ever had PPI

You might not know if you had PPI on any of your financial products, or when they may have been mis-sold. If this is the case, you can contact your lender, a creditor, or a PPI claims company to find out this information for you. If PPI is discovered and you believe that it was mis-sold to you, you are able to make a claim.

Don’t miss the 2019 PPI deadline


Now we’ve gone back in time and answered the question of how far back you can claim PPI, it’s time to look to the future. You need to be aware of the PPI deadline. The deadline for all PPI claims is 29th August 2019, so you must make your claim before this date.

Every household should look into whether they are due a PPI refund. The more information you have on your policy, the more likely you are to reclaim your money. The best case scenario for a consumer is to have the paperwork that identifies the policy and also some proof that it was mis-sold.

Canary Claims offers a no win, no fee policy [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] and one of the lowest fees of just 18% (including VAT) for PPI claims. No matter how far back PPI claims go, we will uncover if PPI was mis-sold to you. Contact us today to find out.