There is certainly a whole host of information regarding payment protection insurance policies on the internet and it can be sometimes difficult to separate fact from fiction. One thing is for sure there are many people asking the same question which is “how far back can I reclaim PPI?”.
Firstly, what you need to do is try to find some type of paperwork that will have your financial details relating to a PPI that may have been mis-sold to you. Some people who have taken out loans, credit agreements, hire purchase loans or mortgages that have since been paid back may struggle to find relevant information they need in order to reclaim PPI.
The good news is that even if you cannot find any proof via written documents then there are alternative ways of finding out just when you were mis-sold payment protection insurance policy. The financial institution or company that issued you your credit will have detailed records all you need to do is telephone them, write to them or email. A polite letter with your name and address and all the other relevant information detailing why you may have been mis-sold a PPI should go a long way in finding out whether you have a legitimate claim compensation.
Some companies will obviously be more helpful than others. At time of writing Barclays bank and Lloyds TSB are amongst one of the best companies to reclaim compensation due to the mis-selling of PPI and since the banking crisis the spotlight is directly been shone on the UK banking industry. Years ago they seem to have got away with murder but with strict UK law coming into effect a couple of years ago large high-street banks such as Barclays, Lloyds, TSB, NatWest, HSBC, Santander and others are now required to properly process all customer enquiries relating to mis-sold PPI.
If you look online at the official website of the company in question you will probably see a link on the home page where you can get in touch with their PPI claims team. Unfortunately, some companies make it difficult customers to get in touch with them and purposely hide their PPI claims department contact information to make it harder for people to claim back mis-sold PPI.
The truth is for people asking the question how far back can I reclaim PPI? You can go as far back as you want as long as you have ample proof that you were mis-sold a policy. You could have been paying back a loan or credit agreement over a number of years and obviously the bigger the loan the more money you are probably entitled to claim back. There is a lot of misinformation published online about six-year time limit but the truth this is simply not true, after all, there will be people that are unaware that they are entitled to claim back mis-sold PPI so the law is also designed for people to claim back in years to come.
Consumer websites will have up-to-date discussions about claiming back mis-sold PPI but please be aware that some of these are affiliated to PPI claims management companies and may also get commission for any advice that leads to a sale.