Can You Claim on PPI Policies More than 6 Years Old?

Even if your PPI policy is more than 6 years old, you could still make a PPI claim!

There’s something of a common misconception about PPI claims. There’s talk of a maximum ’6 year time limit’ and this can often be taken to mean that you can’t claim on policies that are more than six years old. In actual fact though, you may still be able to claim.

You can make a PPI claim if you were mis-sold Payment Protection Insurance, irrespective of whether your policy started (or even ended) more than six years ago. The whole ’6 year’ talk actually relates to the length of time that a provider is required to keep your paperwork on file.

You will need the paperwork to make a PPI claim on policies that ended more than 6 years ago. You’ll have to be able to prove your policy existed and have the documentation around its terms. If you have a copy of the paperwork, then you can prove that you had PPI on your financial product (whether it was a loan, mortgage, credit card or other).

And remember, the providers are required, by law, to keep your records for 6 years after the end of your agreement. So, for example, if you took out a loan ten years ago, but didn’t finish repaying it until 3 years ago, the provider must still have your agreement.

And remember, as long as you can prove you had the policy, there’s no such thing as a ‘maximum PPI claim time limit.’ If you were mis-sold Payment Protection Insurance, then you could be entitled to a refund plus interest and compensation.