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.