Emma RadmoreHM Treasury has announced this morning that the current form of debt letters, including default notices will be changed from December 2020.
The changes are expected to include making the notices more user friendly, with the regulated language and formatting being updated e.g. bold and underlined rather than capital letters. Legal terms will also have to be removed so that the notices are more readily understood.
Firms will have 6 months to implement the changes once they are adopted through secondary legislation.