FLA and The UK Cards Association Launch New Research on Customer Vulnerability
Both trade associations worked in partnership with the
The guide describes strategies to help staff deal with specific and often challenging vulnerabilities, such as serious or terminal illness, bereavement, addiction, and mental health issues.
The final section provides guidance on developing training programmes and working with partner agencies, and 21 case studies illustrate the difference that appropriate handling can make to a customer in need of a little extra support.
Commenting on the launch,
"The project has found and described best practice across the credit markets, and the guide suggests a number of practical ways in which staff can identify and cope effectively with often challenging situations.
"Vulnerability: a guide for debt collection will be a great resource for firms in the credit industry, and will benefit customers by helping ensure prompt and practical help when they need it most."
Graham Peacop, Chief Executive at
"It is positive to see how the industry has moved on since
In June, a second report on vulnerability from the same team will look at other parts of the lending markets with the aim of providing further insights into the effective identification and support of vulnerable customers across the full credit lifecycle.
Notes to Editors:
1. Vulnerability: a guide for debt collection (http://www.fla.org.uk/main-data-content/files/2014/redirect/765gjtY/submo_776yietRWTREYYGUGIHI_87/21-steps-vulnerability-and-debt-collection-web.pdf) has been financed by the FLA and
2. The guide can be downloaded from the FLA (http://www.fla.org.uk/main-data-content/files/2014/redirect/765gjtY/submo_776yietRWTREYYGUGIHI_87/21-steps-vulnerability-and-debt-collection-web.pdf),
3. The following organisations have endorsed the guide and were represented on the research advisory group: the
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