In the aftermath of the Covid-19 pandemic, it has never been more critical that those in the business of debt collection establish processes to ensure vulnerable customers are identified and supported to ensure they achieve a fair outcome. It is without question that more people than ever have suffered hardships which could make them vulnerable when entering the debt collection process, and in need of additional help and guidance.
This eBook provides an overview of what constitutes a vulnerable customer and 7 key steps to help those in the business of debt collection:
- Ensure their staff have the right skills to recognise and respond to the needs of their vulnerable customers
- Establish a customer vulnerability strategy including processes and procedures to ensure the needs of vulnerable customers are met.
- Monitor and assess whether they are meeting and responding to the needs of customers with characteristics of vulnerability, and make improvements where this is not happening
