Vulnerable Customers

Over 840,000 renters in arrears as a result of the pandemic

23rd July 2021 Consumer Collections |

New research has found that 840,000 private renters have built up arrears as a result of the Covid pandemic meaning 56% of landlords have lost rental income. The research by Homeppl also found that there was also 71% rise in fraudulent applications, one in 50 are now fraudulent and that fraudulent tenants now costing landlords…

The importance of communicating with vulnerable customers highlighted in webinar

22nd July 2021 Consumer Collections |

Credit Connect’s hosted the latest edition of the Connected News series last week which saw a discussion focused on the delivery of responsible vulnerable communications strategies and the future of the sector discussed by four leading collections professionals. Banks, credit card providers, building societies, loan providers, collections specialists, utility firms and fintechs were amongst the…

Looming Council tax ‘crisis’ as seven million worry about affording bills

20th July 2021 Consumer Collections |

Over seven million people (14%) are worried that they will not be able to afford their council tax bills over the next year, according to new research from the Money Advice Trust. Findings from the charity’s ‘Council Tax After Covid’ report have highlighted that some vulnerable groups are most at risk of falling behind on…

8.7 million consumers ‘financially stretched’ with pandemic money worries

20th July 2021 Consumer Collections |

New research from Yolt has revealed that 8.7 million consumers (17%) are ‘financially stretched’ following the pandemic. Whilst one in ten (10%) expect to financially struggle in the next 12 months, despite signs of economic recovery, as many households continue to feel the financial impact of the pandemic. Yolt’s research has found that there are many experiences…

Charity launches gambling harms support guide

20th July 2021 Consumer Collections |

The Money and Mental Health Policy Institute have launched a new best practice guide to help banks and building societies step up efforts to support the growing number of customers affected by gambling harms. The charity’s research shows that banks and building societies can play a crucial role in reducing gambling harms, thanks to the…

One-third of households financially worse off this year

15th July 2021 Consumer Collections |

Ofwat has published its survey on consumer finances during the pandemic, showing a decline in mental health correlated with those financially struggling. It found more households were worse off in the past year than previously and many anticipated that to continue in the coming 12 months Ofwat has also set out a number of actions…

More than one million children living in poverty

14th July 2021 Consumer Collections |

New research by the TUC (produced by Landman Economics) has revealed that over a million children of key workers are currently living in poverty. The research, which used the government definition for key workers, found that in some regions more than a quarter of children in key worker households are living in poverty. Key worker…

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