Mis-sold CPP card protection customers back redress scheme

Of those eligible to vote in favour of a redress scheme being set up, 18% voted. Of those, 98% voted 'yes' to setting up a scheme (see the Reclaim CPP Card Protection guide for full details).

The results of the vote follow a meeting held at London's Wembley Arena. Affected customers were sent letters last year, and were able to vote by post or at Tuesday's meeting.

MoneySavingExpert has been urging customers mis-sold card and identity protection products from CPP or their bank to back the redress scheme (see the Vote 'yes' for CPP redress MSE News story).

What happens next?

The High Court will now decide if the scheme goes ahead, with a hearing set for 14 January.

Court approval will mean everyone who was mis-sold a card protection or identity protection policy in 2005 or later will automatically be entitled to their money back. The same will apply to those who renewed a mis-sold policy in 2005 or later.

If the court approves it, you'll need to keep an eye on the post for another letter, due to arrive after 1 February. It'll be to ask whether you want to be considered for redress. This will include a claim form that has to be completed, signed and returned to CPP before 31 July (see the Reclaim CPP Card Protection guide for full details).

Last month, CPP announced it was setting aside £65.8m to pay customers, £10m more than expected. But the final amount will increase or decrease, depending on how many people respond.

If the scheme isn't approved by the High Court, the Financial Conduct Authority says it will work with the media and consumer groups to give advice to customers on what happens next.

I didn't vote, can I still claim?

Yes. Even if you didn't vote on the redress scheme, or if you voted against it, you'll still be able to make a claim if the scheme's approved by the High Court.