A new vulnerability register for consumer credit

The Vulnerability Registration Service Ltd (VRS) officially launched at the Consumer Credit Trade Association’s (CCTA) Going Forward conference in Nottingham on the 2 and 3 November 2016.

Vulnerability is at the heart of many creditor’s agenda’s right now and in a timely fashion the Vulnerability Registration Service has been created with plans to launch in the New Year.

The VRS is an independent private sector initiative with the purpose of protecting consumers and provide organisations with a tool to help deal with vulnerable people. The VRS is run by seven co-directors who all have backgrounds in the consumer credit market. Vulnerable customers will use the platform to record their personal circumstances when they are looking to protect themselves from further debt or related financial problems.

When vulnerable consumers fill in the register it can be as simple as only having to fill in their name, address and date of birth. Every 3 months the system reminds consumers that they are registered on the VRS register allowing the consumer to update their personal situation or remove themselves from the register altogether. Lenders and creditors will be able to subscribe to the platform and therefore access all data.

At the official VRS launch at the Consumer Credit Trade Association, guest speaker Helen Lord, co-director of the VRS, discussed how the platform will work supporting both vulnerable consumers and organisations. At the close of Helen’s presentation delegates gave a warm and enthusiastic round of applause. Find out more about the CCTA –

The VRS further displayed its service with a stand in the conferences exhibitor’s room.

VRS Director Bruce Turnbull, a consumer credit professional and well-known figure in the Consumer Credit arena stated that the VRS was very well received with considerable delegate interest. Bruce was pleased that attendees asked some searching questions that will allow the VRS to further improve and develop its business model. Summing up Bruce described the VRS launch at the CCTA conference as a resounding success.

The VRS will be attending and speaking at the Collections, Debt Sale and Purchase conference in Manchester on the 24 November 2016.

For further details about this exciting new register;

Email – | Telephone: 024 7767 2996

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