Growing and Changing Vulnerabilities for Customers

The focus has shifted towards addressing vulnerability in light of current circumstances such as rising living costs, energy issues, and inflation. More individuals find themselves in vulnerable situations who may not have previously required assistance. The changing nature of vulnerability means that debt collection agencies are encountering people who have never dealt with debt collection before. Many individuals are struggling due to circumstances beyond their control, which adds to the complexity of the situation. Recognizing the unfairness of their circumstances, it is crucial to develop strategies and digital solutions that effectively support and assist vulnerable customers.

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