The UK is seeing a rise in debt and levels of arrears, caused by a range of economic and social factors including stagnating wages, rising household bills and an ageing population. In this paper we are exploring the financial stress that can contribute to the complex issue of vulnerability. Identifying and supporting vulnerable or at risk individuals is an increasing priority across all sectors.
In this paper we explore:
- Tackling the vulnerability challenge
- The increasing scale of consumer financial vulnerability
- Factors influencing financial vulnerability
- The challenge for business
- How to identify and support financially vulnerable customers
- The time to be proactive is now