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

longhairedsally

I've just found this thread so please be gentle with a newbie. Today I received two different letters from CPP stating that I may have been mis-sold my policy(ies) and I should expect another letter in around 12 weeks or so to see if I'm a victim of mis-selling. I'm a bit bemused how I ended up with two policies but I can accept that this happened - I think I took out my first CPP policy in the late 1990s when I first acquired a credit card (I can't recall now if I was advised to do by a third party so or did of my own initiative) and things have happened in my life since then, moving house, different banks etc but surely CPP should have picked up that I had or had had a policy already?

To add to my confusion, I do recall going to cancel a policy for financial reasons upon receiving a renewal notice but finding that it had renewed automatically on my Barclaycard, I left it. However without ringing CPP to get the details, I do recall cancelling one policy over the phone but when I did escapes me now. How can I work out in this period of time if I was mis-sold a policy given that in my instance, I'm talking around 12+yrs of policies? Ironically when I did lose my purse once, I did all the donkey work in cancelling the card providers - it never occurred to me to ring CPP!

xamberangel

Does this apply to Card Protection taken out separately for example Sentinerl Gold

KevinG

xamberangel wrote: »

Does this apply to Card Protection taken out separately for example Sentinerl Gold

Sentinel is sold by a completely different company. I have not yet heard that they are involved in mis-selling. I have a Sentinel policy, taken out years ago, and I knew exactly what I was buying. I probably won't renew it as I think the benefits are probably not worth the cost. Interestingly, no doubt as a result of all the publicity, they have recently removed fraud protection from the policy but I doubt they have reduced the cost.

celestialteapot

I'm slightly lost with all this.

I did have the barclaycard card protection (£35) which I guess was provided by CCP, but for years I was also paying £80-odd to CCP for identity protection which even though I had no idea what it really was because the first letter I received from them also had the barclaycard logo on I assumed it was to do with my credit card. Subsequent letters didn't have the logo and I always wondered why I got two different letters. I don't remember agreeing to the identity protection, or anyone selling it to me - I was a student at the time and I would have never been able to afford the £80 so I don't exactly understand how I've been paying this without having agreed to it? I've kept all the policy certificates from 2009 as...well, it seemed a good idea to do so.

The letter about being mis-sold has my customer number on which matches the barclaycard policy, but the CCP identity protection has a different policy number which isn't on the letter so do I have to contact them to find out about getting the money back for the identity protection?

emerty

We have just received their pack with details on how to vote for their "Scheme". Has anyone else received it?

Just a bit concerned that we are voting on whether to accept their scheme to pay compensation and I'm just a little concerned that by voting for their system - which they have created - will benefit them more than us. Call me a skeptic but I'm assuming that's why there is so much legal mumbo jumbo...

KevinG

emerty wrote: »

Just a bit concerned that we are voting on whether to accept their scheme to pay compensation and I'm just a little concerned that by voting for their system - which they have created - will benefit them more than us

http://www.moneysavingexpert.com/news/insurance/2013/08/vote-yes-for-cpp-redress
http://www.moneysavingexpert.com/news/insurance/2013/11/had-your-cpp-card-protection-mis-selling-letter-dont-forget-to-vote-yes

KevinG

celestialteapot wrote: »

do I have to contact them to find out about getting the money back for the identity protection?

I certainly would.

Firemunchkin

An update on my situation (recap: CPP denied they sold me the policy and refused to look at my evidence showing they had. I went to the FSO.)

So I received a claim form from the Ombudsman which wasn't 100% accurate but I retyped it and sent it back to them. I spoke to them last week, after 6 weeks of waiting for a response. They said there's such a high number of claims at the moment that it is taking them months to get back to people. Once they have your form, they get CPP to send in their side of the story & evidence etc. That takes about two months too.

Eventually (around three months!) it will get to an adjudicator will look at both sets of evidence and make a decision.

Nothing quick then!!

In the meantime, CPP have written to me saying I may have a claim - ARGH!

DavePower

I have all the letters throughout the process with Cpp even stating my account number. My wife and I have no idea when or on what product we were sold protection. What, if anything, can we do to try and claim compensation?

Matt1784

Hi there,

I have had a claim success letter and cheque from CPP. My question is that the amount offered is dated from 14th January 2005 until cancellation. Does this mean this is the date I started the policy...?

Should I call them and ask what date I took the policy out an then request compensation calculated from that date or is 14th January 2005 a date they have been given to calculate from...?

Thanks in advance.