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CPP Mis-selling
phill99
Posts: 9,093 Forumite
Evening.
Listening to moneybox on Radio 4 yesterday and there was a discussion about CPP (the company that registers your credit cards etc) Mis-selling and that thay have set aside a fund for compensation.
Has anybody any details / news on this?
Many thanks
Phill
Listening to moneybox on Radio 4 yesterday and there was a discussion about CPP (the company that registers your credit cards etc) Mis-selling and that thay have set aside a fund for compensation.
Has anybody any details / news on this?
Many thanks
Phill
Eat vegetables and fear no creditors, rather than eat duck and hide.
0
Comments
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Only what the FSA recently announced:
http://www.fsa.gov.uk/consumerinformation/firmnews/2012/cpp
http://www.fsa.gov.uk/portal/site/fsa/menuitem.10673aa85f4624c78853e132e11c01ca/?vgnextoid=835f237360895310VgnVCM2000004fbc10acRCRD&vgnextchannel=56ecf414f9d35310VgnVCM2000004fbc10acRCRD&vgnextfmt=default0 -
Soon after my husband's death in 2009, my purse was stolen on the bus and I rang CPP to advise them of my stolen Credit cards and debit cards, as we had a card protection policy with them.
I was in a state of grief at the time and very upset about the theft of my purse. I was advised that it would be a good thing to take out identity protection with CPP and did so. All charges are by DD.
I have received a letter from them as my ID protection policy is due to renew this month.
I will now cancel it. having found out that ID protection is not of any use, I feel strongly that in my state of mind in early 2009, I was persuaded to buy a policy I did not need.
Will I be one of their customers who will be contacted with a view to having my premiums reimbursed?
Anniel0 -
Will I be one of their customers who will be contacted with a view to having my premiums reimbursed?
Anniel
''The firm will not be contacting customers that took out an identity or card protection policy through their bank, when registering a card or through another CPP business partner, during this review...........however you can visit the CPP website or call 0808 156 0199 if you have any concerns. CPP will provide further information on its website.''
http://www.fsa.gov.uk/consumerinformation/firmnews/2012/cpp
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I spent an hour today trying to cancel my CPP unsuccessfully. I was sold it through my Barclaycard account. I have changed address and CPP will not accept my new address, only the address when they sold me the policy. As it awas ages ago I cant remember. Barclays offered to refund the £39.99 payment which was nice of them, but I still need to cancel the policy.0
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I have since sent a complaint to cpp via their website. In the email I included my address at the time they sold me the policy, as well as my current address. I also told them that Barclaycard had credited my accounted with £39.99 as a goodwill payment. CPP called later that day. I asked them to cancel my policy and credit my account with £39.99. I could then repay the goodwill payment to Barclaycard.
After a long debate about who was responsible for crediting my account, the lady agreed to cancel my policy and credit my account.
I have emailed them since, as my barclaycard account has not been credited, and I have received no notice that my cpp policy has been cancelled.
My fear is that I will have to go through all this bs again next year. I will send one more email instructing them to cancel my policy.
Frustrating to say the least!0 -
Final post. Just checked my Barclaycard account and cpp have credited it with the £39.99 the originally deducted.
I will now inform Barclaycard that they can reclaim the 39.99 they issued to me as a goodwill payment. This is not something I will enjoy doing as Barclaycard have made a fortune out of me drawing currency abroad and paying hotel bills etc over the years.0 -
I was also mis sold CPP. I didnt realise I had it until my credit card statement came through with it on for around £30.
I was really annoyed and after a phone call I decided to pay it as I didn't want to pay any interest they would surley charge me.
Am i entitled to a refund? This was last year now.0 -
call them. all calls are recorded. unfortunately you may find that you were offered it and you took it. only way to find out is to call them0
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