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Blog

MPs speak out on financial vulnerability

The VRS welcomes a report published last week by the Treasury Select Committee on their inquiry into consumers’ access to financial services. We were deeply encouraged to see that the Select Committee’s findings align so closely with the aims and motivations of the VRS, with the Select Committee concluding that…
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VRS wins Credit Information Provider of the Year award

A quote given out during the awards suggests that "Taken forward well, this initiative can become a standard part of data offerings across the credit bureau" The important work that the VRS is doing to protect and support financially vulnerable consumers was recognised last night when it was a winner in…
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Mental Health Awareness Week

The Money and Mental Health Policy Institute published research earlier this year showing that those with mental health problems are three times more likely to be in debt. Debt is often a major factor for those suffering with stress and anxiety and the two issues can feed into each other,…
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How much value do you place on Vulnerability within collections strategy

At this time of year lenders will be gearing up to handle increased levels of borrower contact and the smarter lenders will be preparing for proactive contact. In recent years there have been big advances in the ability to use technology and data to develop pre-impairment indicators that can help…
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BUDGET NEWS – Extending debt Breathing Space

In last week's budget the Chancellor announced that The Breathing Space Initiative is being extended from 6 weeks to sixty days which equates to about eight and a half weeks. This scheme aims to give creditors a period of time free from fees, charges and collections activity while they are…
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The National Audit Office Report

The National Audit Office” report out on 6 September 2018 says that there are 8.3 million people struggling with personal debt in the UK, other worry factors include: 40% proportion of reported debt problems in 2017-18 relating to debts owed to government, up from 21% in 2011-12 £15 billion total…
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VRS – News letter September 2018

Keeping you informed about recent events and developments within the VRS and how we are helping vulnerable people to make organisations aware of their circumstances. As the Vulnerability database builds in volume, we thought it would be useful to check out where the most registrations were coming from in the…
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19 Billion owed in everyday bills

£19 billion owed in everyday bills, as Citizens Advice reveals it helps 1 person every 3 minutes with bailiff issues Citizens Advice is calling for better regulation of unaccountable bailiff firms as it reveals households have fallen behind on their essential bills, such as council tax and utilities, by an…
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Vulnerability in the Energy Sector

Vulnerable customers – do we need them, or do they need us? It is clear that anyone who is vulnerable needs someone to help them. Is it as simple as offering those who are vulnerable some form of help? Or is that an oversimplification? The question being pondered by Energy…
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Data sharing and vulnerable customers

In 2017 The Vulnerability Registration Service was approached by the Personal Finance Research Centre at The University of Bristol to take part in an expert interview to assist valuable research into the link between financial difficulty and mental wellbeing. The research report was published in April 2018 in an article…
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