When considering the action you should take about your mis-sold insurance policy protection you should also factor in your loss of time together with the loss of your funds. Any legal action taken must come up with an outcome which serves the interests of both these. Only by succeeding in both can you be truly satisfied.
The result of action brought in accordance with peoples' mis-sold insurance policy protection is binding and will set a precedent for deciding consumer legislation to come. What finally matters is that the consumer is totally compensated for all the money which has been lost. Case law in the UK is nowadays resolutely implanted against the swindlers who insist on these misdemeanours.
Lots of ordinary folk take out completely unnecessary protection insurance consequent to their mis-sold insurance policy protection which they have been sold by unscrupulous salesmen and this is merely insurance which is surplus to requirements either for the reason that the product they bought already has its own cover or they are already covered by existing consumer laws or legal precedent. Another consideration could be that it would be physically unfeasible to attain the kinds of loss described in the protection insurance cover.
It is a horrible feeling when you consider your mis-sold insurance policy protection and the total waste it turned out to be. Thankfully there are legal precedents that allow the redress of these wrongs and the recovery of funds. The law exists to completely defend the rights of the consumer.
The financial regulator has been heavily penalising Payment protection insurance companies in many situations for not behaving towards customers fairly, and the Competition commission has scrutinized this market sector and made some demands on lenders, including prohibiting sales within seven days of selling a credit card or loan and totally banning single premium polices.