CCR2 Vulnerability


an income below £11,500 lack essential digital skills and one in five (22%) clients have no internet access at home. This has left people incredibly isolated


and reliant on phones to contact vital support networks. Some clients have been unable to afford credit for their pay-as-you- go mobiles, leaving them instantly cut off from friends and family, and unable to contact anyone to ask for help. Former client, Diane, said: “I will not be


online in two days as my phone is pay-as- you-go and it is £15 every 30 days. That is how I am online. “I do not have a phone or internet in my


house. I cannot afford the phone bill. I will not be able to phone [my family] as I will not have any credit. It has been horrible these last few weeks.” Even as restrictions begin to lift, we are


most definitely not out of the thick of it. From our experience, there is often a significant


lag between a household experiencing a financial shock and accessing debt advice. On average, clients waited two years before seeking help with debts. It is, therefore, a concern that many forbearance measures are set to end between now and October. We all have a part to play to ensure that


we continue to support people impacted by the coronavirus outbreak, particularly those who may fall through the cracks of provision or who are often overlooked. We do not know how the next few months


or years will pan out. What we do know is that we cannot stop supporting people in financial hardship. Rates of recovery for households will


differ significantly, with many months more hardship in store for many whose hours have been reduced or whose employers have terminated their employment. Those with ill-health will also continue to be impacted by the threat of the virus,


We all have a part to play to ensure that we continue to support people impacted by the coronavirus outbreak, particularly those who may fall through the cracks of provision or who are often overlooked


which could cause a long lasting impact on household finances. This unprecedented time provides us all


with an opportunity to think harder about how we can support our vulnerable and low-income customers. Now is not the time to wind down support measures, but instead to consider how to improve them. CCR2


At Collect My Debt Limited we are able to collect any business-to-business related debt. Our main focus is to collect debts in full or put a sensible payment arrangement in place within 7 days of receiving your instruction. Collect My Debt do not charge any administration or up-front costs for implementing this type of service. There are sliding scales of commissions deducted from any monies collected:


Our Typical Recovery Success Rates are:


of business-to-business debts are recovered within


days of instruction


45% 2-3


of business-to-business debts are


68% recovered within days of instruction 7


of business-to-business debts are


89% recovered within 21-28 days of instruction


Available 24/7 Across 365 Days Tel: 0800 612 5161 Email: info@collectmydebt.co.uk Web: www.collectmydebt.co.uk


August 2020


www.CCRMagazine.com


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