When considering your mis-sold car loan protection you should bear in mind your loss of time in addition to the loss of your funds. The legal action that you take must come up with a solution which looks after the needs of both these. Only by succeeding in both these can you be completely satisfied.
There isn't anything the matter with Protection insurance for those who need it. Of course there is a place for your mis-sold car loan protection. Its job is to cover loan or card repayments in cases of injury, illness or time on the dole. Such a thing is specially useful in the current financial situation. Yet if you were sold a Protection insurance cover policy from the lender, it is more than likely you are paying massively more than you should, so you should check if the same is available somewhere else for less.
The financial regulator has been fining Payment protection insurance companies all over the place for not treating customers honestly, and the Competition commission has investigated the market and made a number of demands on lenders, also including prohibiting transactions within one week of selling a visa card or loan finance and totally outlawing single premium cover.
It must be an awful instant when you think about your mis-sold car loan protection and the waste of time and money it was. Fortunately there are laws which allow the overturning of these wrongs and the restitution of your money. These regulations exist to completely defend the rights of the customer.
The result of action brought in accordance with peoples' mis-sold car loan protection is binding and will set a precedent for deciding future consumer legislation. What matters is that the consumer is totally compensated for all the money which has been wasted. Legal precedent in the UK is nowadays effectively established in opposition to any scoundrels who bring about this malpractice.