Start your PPI claim

Can I claim PPI if I have paid back the loan?

11th October 2017 - posted by Chris McCabe

If you have taken out a loan or a credit agreement that you’ve paid back, and you believe that you won’t be able to claim back mis-sold PPI – don’t worry! Just because you’ve paid back the loan, it doesn’t stop you from making a complaint.

I have already paid back the loan, what should I do?

Just because your loan or credit agreement has finished, it doesn’t mean that you’re no longer entitled to the compensation.

Check the original paperwork from when the loan was taken out. If you don’t have this anymore, it’s not a problem. You can still contact your credit provider and ask them if the loan had PPI on it.

Why should I make a claim?

There is £10bn still owed to victims of mis-sold PPI. The Financial Conduct Authority (FCA) has recently set a deadline, encouraging people to seek compensation before 29th August 2019. If you believe that you were mis-sold PPI on a loan or credit agreement that has finished, don’t hesitate to make a claim.

Am I eligible to make a claim?

In order to be eligible, you generally need to raise a complaint within six years of being sold the policy or within three years of realising that PPI has been added onto a loan or credit agreement.

If you think you are eligible to claim for PPI, or have any queries about your eligibility, get in touch. Our team at First Target Recoveries specialise in mis-sold PPI policies and claims. We have helped over 65,000 people like you claim back their PPI compensation since 2011.

Get in touch via our online form or call us on 0800 023 4953 to find out more and get your claim off the ground.

Start Your Claim

  • We will not disclose your personal data to any third parties, read our full privacy policy here

  • This field is for validation purposes and should be left unchanged.