Debt recovery
Public sector debt and vulnerability Given the impact of the Covid crisis on people’s finances, Rhona Parry, CEO at Indesser, looks at how to support different sections of society with their public sector debts There’s an excellent TED Talk by Brené Brown called ‘the power of vulnerability’. Brené helps people accept that we’re all vulnerable sometimes. Many will face vulnerability in their lifetime, and for those people who have had their job, health or loved ones taken away by the pandemic, that time is now. Even before the crisis, the FCA found 24 million of us had one of several characteristics of vulnerability in some form. That number will have risen as many more of us, maybe for the first time in decades, worry about whether we can pay the bills or remain employed. For many, this will be a temporary blip, but for others, they may need forbearance and support for a while to come.
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Debt collection must not, and need not, For those of us working in the public sector exacerbate the growing pressure on people’s who have a duty to collect the revenue mental health or financial vulnerability. that funds public services, this rise in Identifying and helping the most vulnerable vulnerability is a real challenge. We need individuals in debt and finding ways to understand the changes in people’s to recover money fairly, efficiently and lives to protect them, treat them fairly and ethically needs to remain a priority for make sure debt does not overwhelm everyone from the largest central them. How can you recover government departments to the money from people at smallest local authorities. a time when more Debt are struggling and collecti Problem debt vulnerable? How can o Over the past six months you avoid kicking not, an n must d we have seen that the can down the n e not, ex people are still choosing road where debt acerbat ed e the growin to engage and have forgiveness is g press conversations around not an option? on p ure
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