Mis-sold CPP card protection insurance? Court rules you can get money back

Today's approval means everyone who was mis-sold a card protection or identity protection policy in 2005 or later will automatically be entitled to their money back, so long as they return a claim form that'll be posted to them next month.

The same will apply to those who renewed a mis-sold policy in 2005 or later (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. So if you were mis-sold a policy by CPP or a bank, keep an eye out for a form and make sure you claim.

The High Court decision follows a vote by affected customers which also backed setting up a redress scheme.

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). 18% of customers voted, and of those, 98% backed it.

Watch out for a letter – and return the form

Now the High Court has approved the redress scheme, keep an eye on the post for a letter, due to arrive after 1 February.

This will ask whether you want to be considered for redress. It'll 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). If you don't send it back, you won't get a refund.

Separate letters will be sent out for card protection and identity protection.

Will I automatically get my money back?

If you complain, you'll get your money back. It's that simple. The Financial Conduct Authority won't be judging this on a case-by-case basis, meaning you don't need to provide stacks of paperwork to prove your policy was mis-sold.

Any redress paid will be done so on a rolling basis after the claim form has been received. So the sooner you return your claim form, the quicker you should get your money back.

How much will I get?

You'll get the money you paid in premiums, minus any money paid out by the policy. You'll also get interest, calculated at 8% per year.

All redress payments will be paid by cheque. If you're due redress from both products, you're likely to receive two cheques.

I didn't vote, or I voted against it. 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. You should also keep an eye on the post next month for a letter.

I haven't had a letter, am I still eligible to claim?

If you haven't received a letter from CPP, but think that you're eligible for compensation it's not too late to get redress. You can contact the scheme team on 08000 83 43 93 and explain why you think you should be included in the redress scheme and your case will be looked into.

How do I know if I had CPP in the first place?

If you bought card protection or identity protection, you would've had a welcome pack in the post. Look out for the words CPP or Card Protection Plan Limited.

If you can't find anything but think you may have had it, check credit and debit card statements. CPP says if you bought its products directly on a card, it "should say CPP on those statements".

CPP's card protection product was also known by a number of different names – see our Reclaim CPP Card Protection guide for a list of these names as well as more infomation on how to find out if you had CPP in the first place.