MSE News: Card protection firm CPP must pay £14.5m to mis-selling victims

slowen

BettyLou wrote: »

I've been following this on and off and am wondering how long to wait for CPP to contact me. This was a service offered years ago by a CC company and it was STRONGLY recommended. Somehow or other, even though I never used the service--since my internet at the time could not access the forms online--the annual charges continued. I questioned this with the CC company but was fobbed off. I eventually managed to stop the service after years of paying for something I could never use.

So, how long do I wait or is there an address I can write to begin my complaint?

From memory in the FSA document it said something like CPP will be in touch with affected customers in due course to inform them they can claim but doesn't say exactly how long it will take for CPP to contact customers and doesn't say how they are working out which customers are affected and which ones are not.

If I was you I'd phone CPP and tell them you want to complain regarding being miss sold the policy, if the policy was taken though a bank you would need to complain to the bank as well via their complaints department.

I contacted my bank via post as I phoned up to complain and I was told to complete the PPI complaint form which was on the financial ombudsman website and then send it in the post.

Initial correspondence from my bank was to say they received my complaint and that I would receive a letter half way though the complaint deadline then a final letter within 8 weeks which takes it to the end of this month so just waiting to see what they come back with

KevinG

slowen wrote: »

I was told to complete the PPI complaint form

The PPI complaint form? What's that got to do with it?

slowen

KevinG wrote: »

The PPI complaint form? What's that got to do with it?

That's what I thought when the guy at HSBC told me to fill in the PPI complaint form as I said to him its not PPI.

Only thing I can think of is maybe with it being a complaint form and asks for reference numbers and details that could be why he told me to complete it and not sure if their is a standard form for the CPP complaint.

After getting letters back from the bank they have took on the complaint and investigating it from the PPI form

Firemunchkin

I received my annual renewal reminder in the post recently and have decided to cancel the policy. Knowing now that any fraudulent activity on my card is covered by the banks anyway means the policy is fairly useless to me. The main reason I got it was because I thought I would be liable for the amounts spent by thieves!

So I phoned them up and told them I wanted to cancel the policy, but I mentioned that I was waiting to hear from them with regard to the mis-selling of my policy. The customer services agent said that it was created originally through Mint (a credit card I used to have). I disputed this and was put through to a manager. I explained that the original policy was cancelled, I have a letter dated May 2003 stating this was the case and attempting to win my custom again by making false claims that I could potentially be liable for fraudulent activity on any stolen cards. The next thing that happened was that my bag was stolen in Barcelona in June 2004. I was in a bit of a state as you might imagine, and although I had transferred my cash out of my current account I was concerned about my credit card being used and me being liable for the money. I called CPP remembering what they had told me in their letter and they said that the policy was cancelled, but could be reinstated if I wanted it to. At the time I didn't know what I know now, so I agreed to have CPP handle everything for me. My conversation reinstating the policy was with CPP directly, even though the original policy may have been set up via a credit card company.

The manager said that the process for this is to open a complaint, which would be acknowledged within five working days. Then the complaints team would investigate historically how the policy was set up, by whom, etc. They may ask for further information, and any documentation I have can be scanned and emailed to them. There is a time scale of 40 working days (approx eight weeks) to resolve the complaint. The refund of past policies paid is not an automatic right, the investigation will establish whether or not it was missold and that's when the refund happens (or not).

I have no idea if they will agree with me that the policy was mis-sold, and because my policy was sold to me prior to 2005 I do not know if that comes into it as well. What I do know is that the main reason I reinstated the policy was because I was worried about being liable for the spending of fraudsters or thieves, their letter dated 2003 said:

"...if your cards are lost or stolen it can be a real hassle and a race against time to stop someone spending a small fortune at your expense.

A credit card fraudster could use your cards before you even notice they are gone, so the longer it takes you to report the loss, the more you could be liable for."

Which to me looks like blatant mis-selling!

Fingers crossed I get the resolution I'm owed, and I hopefully should get around £255 back. Watch this space!

Reillymac

Mis-selling - CPP - Card Protection: I decided to write to CPP - I received a very courteous and prompt reply and today received a cheque with regard to the Mis-selling of Card Protection.

I am still waiting to hear about the Identity Protection Insurance.

moreofthegoodstuff

Just had a letter today - CPP are sending a cheque for £90 for the card protection plan I had between 2007-2009. Bonus!

slowen

Glad to see some success and refunds being made, lets hope it continues

Sponge1980

I got a renewal letter about my policy and wrote back to them saying I wanted to cancel the policy and also that I thought I had been mis-sold the policy.

Got a letter back today saying that the FSA found " between January 2005 and March 2011 CPP overstated the risks and consequences of identity theft during sales of its Identity Protection product." And as my policy was sold between January 2005 and March 2011 they have upheld my claim and are sending me a cheque for £380.28.

I must say that they were very quick. Just 3 weeks from my initial letter to the letter that arrived today.

Hope everyone has the same success.

paulineg1950

Really confused about CPP card protection! Have read various comments, posts etc and most of them are about reclaiming the fees. Have had it for years but can anyone please tell me whether it is really needed these days? . Any help/advice would be greatly appreciated.

KevinG

paulineg1950 wrote: »

Have had it for years but can anyone please tell me whether it is really needed these days?

Depends what you want. If it's just cover for fraudulent use, you don't need it. If you want a one-stop-shop for reporting loss of all your cards or change of address and all the other little add-ons, then you might. I have had a policy (not through CPP) for years, but I never had it as cover against fraudulent use and was never sold it on that basis.