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Thursday, July 10, 2014

CPP The New PPI

It seems that there has been another mis-selling scandal, akin to the PPI one, wherein people are entitled to seek redress, this being CPP (Card Protection Plan).

However, according to the Martin Lewis (writing in the Telegraph) up to five million people may be missing out on the compensation because they confuse the issue with PPI and throw away a legitimate ‘‘fill this in to get your money back’’ form for junk mail.

Since February more than seven million people have been sent CPP redress letters, dating back to policies since 2005. Many were under names such as CardGuard, Card Protection Plus, Card Safe or Egg Emergency Cover.

Martin Lewis estimates that £900 million remains to be claimed, with a deadline of August 30 looming on the horizon.

I wonder if there is any financial product in this country that hasn't been mis-sold?

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