CPP Reclaims - Reclaiming mis-sold CPP Insurance

[ken100464]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Jane

Think I would be tempted just to see what Cap One come back with. Mark your diary with an acceptable date by which time a chaser would need to be sent to Cap One.

Something that is befuddling me is this change from the credit card to your current account in 2008. Who authorised this? Which bank is it?

You see it could be that this actually splits into two claims. If you went to another bank and were paying another bank cant see Cap One wearing that bit at all.

[tastyjane]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Hi Ken

I am pretty sure when I first had this it was set to come off my credit card as a payment annually. Obviously when I got onto problems and my credit card was frozen the payment started to come out of my current account. I am pretty sure I have them my bank card details when I signed up to "protect" that card and I assume they just switched where the payment came from. I have had the same bank card number since 1985.

I did wonder if I should write back to her and query that?

I'm not sure it's legal to do it?

Jane x

[ken100464]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Bit strange for sure.

But that 2008 date is slap bang in the middle of the dates which they have just been fined for.

Least you know CPP themselves dont think it was them lol. Good on them.

And dont foget the regulator was preparing to force the banks to pay up on this if it wasnt a direct sale. Which CPP have just told you it wasnt

I still would be tempted to wait on Cap One see what they have to say. But I would write to your current account bank and ask for it back from them from 2008 onwards. See what they have to say. Hopefully everybody will be pointing at one.

Its starting to look like these underwriter PPI claims. Lots of targets and all saying wasnt me.

But the money ended up somewhere and someone has made a profit from it.

We will get there just frustrating at times I know.

[tastyjane]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Hi all,

I returned from holiday today to a letter and cheque from Captial One. Unfortunately the cheque was only for £24 which was my first years premium! Reasons from Capital One as follows:-

Cpp was initially set up on 11 May 2001 during a telephone call to activate your new card. Given the time that has passed we no longer hold a call recording from that time so I am unsure of the details of this call.

The policy for CPP provided for 1 year, and would then automatically renew. This cover protects not only your Capital One card but any other financial cards you registered for loss, theft and fraud. I am sorry that you no longer find this beneficial.

Although I believe that the policy has been added to your account correctly, to bring this matter to a conclusion I have refunded £24 which represents all premiums charged for CPP.

I hope I have explained things clearly, however, financial regulations require me to advise you that this is my final response in relation to this matter. You now have the option to contact the FOS within six months etc etc.

Obviously I am not happy about this - the premium started at £24 but has risen to £49 over the past 12 years! Where do I go next? Any help much appreciated.

Jane x

[di30]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Did they confirm if this was the final decision or not?

If not then write back and ask them where they got the information from on the amounts you paid, and also ask about interest you should also be entitled to to date.

If it was final I would try writing to the Manager/Chief Executive officer (CEO) and say you want this looked into again as you don't feel you have been offered an amount equivalent to what you paid and no interest that you should be entitled to.
State you want to avoid taking further action as there are ways you can still go forward with this matter, via underwriter that the FOS will suggest.
I would raise any points that you feel have been missed.

[tastyjane]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Hi Dizzy,

Thanks for your response, yes, he did say this was his final response in the matter; I am very confused as they have only refunded the first year's premium. Do I write to the CEO of Capital One? I will put together a letter today.

Jane x

[di30]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Hi Dizzy,

Thanks for your response, yes, he did say this was his final response in the matter; I am very confused as they have only refunded the first year's premium. Do I write to the CEO of Capital One? I will put together a letter today.

Jane x

Well what I would do is write to the CEO, and send a copy to Cap one.

As above raise your concerns of why only one year, you could say it may have been a mistake and you want this relooked into in case this have happened, and if they could send you a detailed written breakdown. x
Ask if they can get back by 14 days of receiving your letter (post by signed for recorded delivery) or if you have the email address do it that way and ask for confirmation of the email sent x

[tastyjane]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Thanks Dizzy I will sort this out over the weekend, I will send him a copy of my letter to CPP and their response together with his employees letter, would you?

Jane x

[di30]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Thanks Dizzy I will sort this out over the weekend, I will send him a copy of my letter to CPP and their response together with his employees letter, would you?

Jane x

Yes I would include their letter and your's too to cover all ground.
I shall be back and forth over the weekend if you need any further help etc x

[tastyjane]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Hi Dizzy,

The weekends lovely weather took over but this morning I have put together the following:-

I enclose copies of correspondence that I have had with both yourselves and Capital One following my letter of complaint, sent on 22nd April 2013.

As you will note I believe I was mis-sold a policy, albeit initially by an agent working for Capital One but representing your product. Capital One have stated that they are only responsible for one year as this policy was a general CPP policy covering all my cards. Regardless of whether it covered all my cards I believe this to be a completely erroneous insurance product and I state that I was sold it under false promise and undue alarm.

I also feel CPP Group has acted, if not dishonestly, but in bad practice, to continue to collect a premium for over 12 years for a product that has been highlighted by the FOS Service as “pointless” and for which you have been fined by the FSA for miss selling.

I appear to be at an impasse, and please rest assured I will not hesitate to lodge a complaint with FOS should a successful conclusion not be met, but I thought I would appeal to yourself as CEO to reinvestigate my claim for the refund of all my premiums received by your Company plus statutory interest at 8% (or whatever other rate the courts might order).

I would look forward to your response within 14 days of this letter.

I will send it today recorded (or at least signed for) to Paul Stobart CEO of CPP Group.

Have I worded this correctly do you think? Thanks for any help.

Jane x

[di30]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Hi Dizzy,

The weekends lovely weather took over but this morning I have put together the following:-

I enclose copies of correspondence that I have had with both yourselves and Capital One following my letter of complaint, sent on 22nd April 2013.

As you will note I believe I was mis-sold a policy, albeit initially by an agent working for Capital One but representing your product. Capital One have stated that they are only responsible for one year as this policy was a general CPP policy covering all my cards. Regardless of whether it covered all my cards I believe this to be a completely erroneous insurance product and I state that I was sold it under false promise and undue alarm.

I also feel CPP Group has acted, if not dishonestly, but in bad practice, to continue to collect a premium for over 12 years for a product that has been highlighted by the FOS Service as “pointless” and for which you have been fined by the FSA for miss selling.

I appear to be at an impasse, and please rest assured I will not hesitate to lodge a complaint with FOS should a successful conclusion not be met, but I thought I would appeal to yourself as CEO to reinvestigate my claim for the refund of all my premiums received by your Company plus statutory interest at 8% (or whatever other rate the courts might order).

I would look forward to your response within 14 days of this letter.

I will send it today recorded (or at least signed for) to Paul Stobart CEO of CPP Group.

Have I worded this correctly do you think? Thanks for any help.

Jane x

I couldn't have put it better myself, well done! And fingers crossed, look forward to hearing the outcome.

[tastyjane]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Thanks,

It will go today then 14 days and counting , will let you know when I have his response.

Jane x

[ken100464]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

The way these are wriggling is making me more impressed with Barclays and the way they handled our complaint. Fair play to them.

Good luck

[tastyjane]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Interesting - just received a call from Coral the PA to Paul Stobart at CPP, she was acknowledging receipt of my letter and to assure me he takes complaints of this nature very seriously and they would open an investigation today.

Seems a little over the top for my little letter but hey ho I await their response with interest

Jane x

[ken100464]

Re: CPP Reclaims - Reclaiming mis-sold CPP Insurance

Easy to pass the complaint to someone who is jumping ship then blame him if you still aint happy.

http://www.cfo-insight.com/human-cap...d-insurer-cpp/

and here he is

http://www.cppgroupplc.com/board/pstobart.html

All the same wishing you luck on this.

Everyone seems to be wriggling here and the regulator does not seem to have the b**** to just say someone had the wonga. Dont care who pays but someone does if the consumer complains. If the companies want to thrash it out in court afterwards then let them after they have settled the bills to the consumer.