Financial Conduct Authority Portfolio letter for debt purchase, debt collection and debt administrator firms.
Are you doing enough to identify and protect vulnerable customers? The Financial Conduct Authority (FCA) published its Portfolio letter for debt purchase, debt collection and debt administrator firms on the 18th January identifying drivers of harm and how firms should mitigate risks. It highlights the major concern that firms can…
How to identify exactly who is vulnerable
We all know that need to treat vulnerable people in an appropriate way, we know that we have a corporate responsibility to do so. We also know that the regulators expect us to take the right approach. The challenge is often how to identify exactly who is vulnerable. The Vulnerability…
5 Tips to Help Save for Christmas
It’s about this time of year when the shops start showing the first signs of Christmas on the way – and for many of us, that can mean a familiar sinking feeling as we wonder where we’re going to get the money from to cover all the presents, parties and…
5 Tips to improve your credit score
If you saw our recent post about credit score myths, you’ll know that you don’t actually have just one universal credit score. In fact, lenders will have their own different scoring criteria for each of their products. Of course, there are things you can do to ensure that when you…
5 Credit Score Myths
If you’ve ever applied for credit, whether it’s a mortgage, credit card, loan or even a store card, then there’s a very good chance that the company you were applying to, did a credit search on you. This simply means that they’re checking your credit history to see if you’re…
Vulnerability: what is it and why should we record it?
The FCA describes a vulnerable consumer as somebody who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care. There are many reasons a person may be vulnerable. These may be related to health, capability, resilience, or the…
How to support someone who can no longer manage their own finances
There are a number of reasons why someone may find themselves unable to manage their own money. They may have a condition such as autism or downs syndrome which makes it very difficult or they may have an illness like dementia or Alzheimer’s. In these situations, it’s important that people…
6 Things to do if you lose your job
Losing your job can be an extremely stressful time, especially if it happens unexpectedly. It can often leave individuals and families with a significant drop in income and a sudden inability to pay their bills. The good news is, there are steps that you can take to help you to…
Who should register for the VRS?
The Vulnerability Registration Service (VRS) provides vulnerable consumers with a way of sharing information on their circumstances with companies they have dealings with. People can choose to be pre-declined for credit applications – or, if they prefer, they can simply make companies aware of their circumstances, so that these can…
5 Ideas to help you to save money faster
Most of us have something we’re saving for, whether it be our first (or next) home, a dream holiday or just that jacket we saw the other day. The problem is, saving money is difficult and often takes a lot longer than we’d like it to (or than it needs…
