CPP Reclaims - Reclaiming mis-sold CPP Insurance

[tastyjane]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Just a quick update - I have been receiving CPP letters over the past few months but as I had this refunded last year I have ignored them - today I get home to a letter saying that they really think I have a claim and just fill in their claim form and post it off in their pre-paid envelope. What do you think? I am beginning to wonder if my file has never been marked refunded as the CEO's office dealt with it - it would be lovely to have it refunded twice The devil in me thinks I should just fill it in and send it off and see what happens....... or am I going to open up a can of worms do you think????

[cookie2112]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance



The devil in me would be thinking the same thing, go for it...but whether that is the right thing to do I don't know, wonder if they could then ask for it back if it get's picked up later on.

[Bill-K]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Hi to Tasty Jane and others in this thread - I have been working with Di30 & Turboman on PPI & CPP elsewhere, and am hoping I can perhaps help a little here in AAD. I realise that this thread is possibly dormant - but sometimes these matters take time and patience. I have posted some stuff which might be useful in this case in Di30's CPP thread here:

http://forums.all-about-debt.co.uk/s...reclaiming-CCP

I tend to specialise in the figures aspect of these claims, and I have worked with Turboman & Di30 for some time now. CPP Ltd. were ordered by the FCA to pro-actively contact all card users who were sold CPP, and to refund the premiums. Unfortunately, CPP Ltd. appear to have dodged the issue of account interest, and have managed to limit their liability to repaying just the CPP premiums charged, plus 8% simple interest - and only from 14/01/05. There seems to be no provision made by either CPP Ltd. or the FCA to refund claimants the portion of account interest that was charged on the accruing total of CPP premiums made by the lenders - and this appears to have been ignored completely. Looking at SXGuy's claim in Di's thread (linked above), I was amazed at how much account interest that CPP can accrue, and this amounted to over 6 times the amount of the CPP premiums !!!

The general consensus seems to suggest that any CPP paid before 14/01/05 should be reclaimed directly from the lenders themselves. Naturally, the lenders will deny that they have any data going back that far - but it is likely that CPP Ltd. will have this data, and we may need to try and get it from them before they destroy it. Similarly - I believe that we must also reclaim the apportioned account interest from the lenders themselves, as it is they who have charged it and then retained it for themselves. I have devised a spreadsheet/calculator program for all those 'non-geeks' who can't stand maths (I'm no expert, but I'm a masochist - LOL) - so that they can hopefully calculate what interest they can claim from their lender as regards CPP - and this is posted in Di's thread. Perhaps my mate 'IF' here will nail it up as a 'sticky' later, if it merits that.

A further note I wish to add is that CPP Ltd. also managed to secure a deadline for claims against them - which I believe is 31/08/14 (this needs confirmation.) Any claims after this date cease to be CPP's responsibility, and may well be declared 'time-barred,' in which case they may have an uphill struggle to succeed. That in itself seems to suggest a separate battlefield, where we may find ourselves having to argue that CPP sales were 100% mis-representation, and are therefore not covered by any 'time-barring' clauses. But legal-speak is not my forté (and neither is English at this time of night !!!) - so that may be a separate discussion.

Anywayz - I hope I've posted some useful stuff...

[Bill-K]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Hi to all here,

I'm not sure if this will interest you, but I have started a CPP thread here, which is still a work-in-progress:-

http://forums.all-about-debt.co.uk/s...Being-Scammed-!!!

I'm just posting the link on any CPP threads I see in AAD, as I think it is worth ALL CPP claimants checking out.

Apologies for the hi-jack.

Bill.