Any consumer who was mis-sold PPI for a loan, mortgage or credit card from 1990 onwards can reclaim their refunds. Regardless of the bank’s six-year data policy, you can use workarounds to procure your repayment information and justify your right to claim your full compensation.

Banks Tell You They Only Keep Data for Six Years

The UK’s constitution states that all business and financial institutions keep consumer data for only six years to avoid unauthorised use in the future. However, credit rating companies can keep this information for future reference. Therefore, if you ask for a credit evaluation, you can see all the repayments you’ve made for the insurance policy.

Data Access Request

You can pay £10 to your bank to receive a full summary of repayments made for the mis-sold insurance policy for at least six years as well. However, this statement is incomplete. A credit evaluation is a better option.

Plevin Case

If your PPI is a Plevin case, then you must present documents proving your financial adviser or bank employee failed to discuss their commission upon selling the insurance policy. If you weren’t given a statement to sign acknowledging you have purchased PPI willingly with the representative receiving more than 50% of the policy’s value as commission, you can rightfully reclaim your refunds in full.