Many obtained it through their banks and credit card issuers. However, the Financial Conduct Authority ruled that a lot of these products were mis-sold and fined CPP £10.5m in 2012.
Well, it seems like CPP are finally getting the cheques out to customers who put a claim in, and some of them are getting paid around £1,000 for their trouble.
If you haven't put a claim in, you've still got until 30th August to get some money back.
You should've received a letter from CPP, which you may have thrown away thinking that it was a circular, but no worries.
You can get information about their compensation scheme by visiting cppredressscheme.co.uk or call them on a freephone number at 08000 83 43 93. If you're outside the UK, then dial +44 1144 520 800. If you have had a form, but think you've completed it incorrectly, then call the number and ask for a new one, then complete it in black ink, in block capitals and send it back in the pre-paid envelope.
Separate letters are being sent if you happen to have been mis-sold card and identity protection. Fill out both forms to claim for your compensation.
As ever, with things like this, be wary of scams. If you have any concerns it is always best to ring CPP to make sure. Good luck, and give us a yell if you get some money from them!