The Financial Services Authority (FSA) has completed its consultation on how banks should contact people who were missold payment protection insurance (PPI) and is expected by Which? to now move on to the next phase of dealing with the scandal.Between four million and 12 million letters will have to be sent on the subject and the government body asserted that the communication should contain a clear summary explaining that it contains important information.Furthermore, it ought to state that a consumer may have been missold PPI, the findings that led to this revelation, that the member of the public might be entitled to receive redress through PPI claims and that there is a time limit for making a complaint.The letters have to avoid complicated legal or technical language or jargon and should be written concisely and clearly."Many PPI policies have been missold which means you might spend a lot of money on expensive insurance you'll never be able to claim on," Which? states.Jennifer Haines Jennifer's speciality knowledge is credit card changes and balance transfers.
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