The honest answer is that there is no fixed period and as such there is a great deal of miss information and confusion. The statute of limitations says that a claim must be within six years. However, many loans/cards etc were taken and were still running in the last six years so we successfully argue that these can be reviewed as the PPI was still in operation in the last six years. Of course if you have all of your information this can make is easier, but like most people when a loan or card has been closed or after the application has been processed then you get rid of the paperwork. This should and does not affect the possibility of recovering any PPI that has been mis sold, where the majority of our clients do not have the documents or details.
The real dictator regarding how far we can review PPI is dependent on the lender and here they are all different, in that some destroy paperwork older than six years ago so are unable to find in formation and others were not regulated by the same watchdog to assess their sales process. Again this is a grey area but we can then look at the underwriter of the policy and look at recovering the mis sold money from them.
Ultimately there is no hard and fast rule as to how long we can go back when looking at clinets PPI claims, so we say to all clients to look at all of their facilities regardless of how old they are as the worst the bank can do is say no to a refund as they have no records, at least we would have looked and of course if this was the case you would not be charged by ourselves.
You might not be sure if you have been mis-sold Payment Protect Insurance (PPI). However, Recover Your Money is able to offer professional advice on a no-win, no fee service so why not email us at firstname.lastname@example.org or call on 01752 840623 as it could be time to reclaim what is legally yours!