Reclaim CPP article discussion

davemidd

Leicesterbeer wrote: »

davemidd. Thank you for the honest answer. Its about clarity not collusion. I reworded what others were asking in an attempt to get that clarity. Formal documents and the way they are worded frighten and confuse people as we all know. Knowing what was said at the time is different to knowing why we signed up. That's easy!Someone suggested it was a good idea and gave the benefits in a way now classed as misselling. From reading the recent posts everyone is making an effort to be honest . As usual with anything like this the letter from CPP is very well and bery cleverly written.
Good luck to all reclaiming.

It's not about what was said at the time but why you bought the policy. If you were happy with the various benefits that the policy provided (which was not just protection against unauthorised spending, but also things like a single point of contact should you lose you wallet or purse, key fobs with free return postage etc) and you thought they were value for money, then there is no reason to claim compensation. If however, the main reason _why_ you bought the policy was for protection against unauthorised spending, then that is possible grounds for compensation since that protection was already being provided by the banks and card issuers.

I don't know why you think the letter from CPP is "very cleverly written"? Heck, they even give you verbatim the possible reasons for claiming compensation.

Wilchard

Their letters imply that, even if the claim is not granted i.e. fails, the policy will still be cancelled, presumably without any refund of premium. This seems grossly unreasonable. Is this correct?

WinkyWillis

Just a quick one, the guide says to fill in the form using block capitals. I sent mine off before reading this using my scruffy cursive scrawl.. will this matter?

tommytomtom

Hi,
Thank you Frodob,

I have been told by the FCA that I was mis-sold and advised on MSE website to vote “YES” and I did along with the 18% of 7 million also voted “YES” and that was the 98% needed for the compensation scheme. 5.7 million policy holders did not bother to vote.

I don’t mind claiming the money back and take out a similar cover.

KittyHawk

I can't see that it's grossly unreasonable for them to cancel the policy. The foundation of reclaiming the money is that the policy wasn't needed; you can't very well say 'I didn't need the policy; please may I keep the policy?'

KittyHawk

WinkyWillis - Yes, it would appear to matter. You'll need another form. Posts elsewhere suggest you'll go to the bottom of the queue if you request a new form, but I don't know if that's so.

KittyHawk

I agree, tommytomtom. I don't like the implication that we're being greedy. If the FCA is satisfied that this policy was mis-sold, that's good enough for me. Ipso facto. Frankly, I don't think you should have explain why you think you're entitled to compensation. The fact that they've been fined for mis-selling would seem to be the principal reason.

davemidd

KittyHawk wrote: »

If the FCA is satisfied that this policy was mis-sold, that's good enough for me. Ipso facto. Frankly, I don't think you should have explain why you think you're entitled to compensation. The fact that they've been fined for mis-selling would seem to be the principal reason.

A fine for mis-selling a product doesn't mean that all policies were mis-sold and therefore all policy holders are entitled to compensation. if that were true then it would have been detailed in the FSA findings and everybody would automatically get their money back.

CavTor

Re Compensation Claim Form

There are two templates by Martin in response to section B of the form: 'Why You Want To Be Considered For Compensation'

Is there any reason why I can't use/incorporate both templates.........its a long time ago and I can't remember the details of the policy.

Thanks

davemidd

CavTor wrote: »

Re Compensation Claim Form

There are two templates by Martin in response to section B of the form: 'Why You Want To Be Considered For Compensation'

Is there any reason why I can't use/incorporate both templates.........its a long time ago and I can't remember the details of the policy.

Thanks

You must have missed in that section:

"If you had card protection, here are the main reasons the regulator found for mis-selling, together with what you should write on the form if you think they apply to you. You only need one reason, so pick the strongest (truthful of course) one."