Compare Debt Solutions: Vulnerable Customer Policy
At Compare Debt Solutions, we understand that some customers may be experiencing vulnerability due to various personal circumstances. While not every individual within these categories may be vulnerable, we are committed to assessing each customer’s unique situation when potential vulnerability is identified. The groups we consider may include, but are not limited to:
- Long-term illness, serious medical conditions, or frailty
- Elderly individuals
- Persons with physical disabilities
- Individuals with learning difficulties or mental health challenges
- Those experiencing recent bereavement
- Customers facing severe financial hardship
- Individuals with communication impairments
- Customers with a history of alcohol or drug misuse
Adapting Our Services
When we recognize that a customer or just someone needing help and assistance may be vulnerable, we tailor our services to minimize any distress and provide appropriate support.
Our Guiding Principles
When assisting vulnerable customers, our advisers adhere to the following key principles:
- Comprehensive Record-Keeping
- Maintain up-to-date records of customers identified as vulnerable to ensure consistent and informed support.
- Referral to Specialized Advice
- When suitable, guide customers to additional debt advice resources such as Citizens Advice Bureau and Money Advice Service.
- Proactive Complaint Monitoring
- Regularly review our complaints procedures to detect and address any emerging trends or issues.
- Accessible Communication Channels
- Utilize alternative communication methods (e.g., email, text messages) to accommodate customers with specific needs.
- Dedicated Complaint Handling
- Implement a specialized complaints procedure for customers dissatisfied with our teams’ conduct.
- Ongoing Adviser Support and Training
- Continuously monitor and evaluate our teams’ performance, providing training and feedback to uphold high standards.
- Promotion of Free Debt Advice Resources
- Include contact details for free debt advice services in all our informational materials to ensure customers are aware of available support.
- Encouraging Open Communication
- Foster an environment where customers feel comfortable reaching out if they are experiencing financial difficulties.
- Transparent Solutions Disclosure
- If we are unable to provide help, we will clearly explain the reasons to the customer.
At Compare Debt Solutions, our priority is to support everyone with compassion and understanding, particularly those who are vulnerable. By adhering to these principles, we strive to provide effective and respectful assistance tailored to each individual’s needs.