People who are still waiting to receive compensation from a payment protection insurance (PPI) mis-selling case have been assured that they will get their money eventually. The number of claimants has grown sharply in the past few months and the Financial Services Authority (FSA) recently revealed that a record number of payouts had been made in November 2011. A total of £379 million was issued to Britons who felt they had been sold insurance packages unfairly during the month. Now, the FSA has urged all other claimants to be patient, as the sheer number of cases means the organisation and other claims management firms are stretched to the limit. Speaking to the Sheffield Star, an FSA spokesperson commented: "People will get their money, the FSA is very much on the case. But we want it done in a way that's right and not rushed." The body has put strict deadlines in place for banks to deal with PPI cases and these appear to be being met so far.Charles BakerCharles is a reputed financial analyst with decades of experience under his belt.
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