Vulnerability, debt and the missing £23 billion: How the credit and collections sector can drive change this winter

As UK household debt continues to rise, more than 8.5 million people are facing serious financial struggles in 2024. Projections for 2025 suggest this trend will only worsen.

Despite this, £23 billion in available support is set to go unclaimed this year – money that could help people regain control of their finances. Key barriers such as lack of awareness, complex systems and stigma prevent people from accessing the help they’re eligible for.

This webinar, tailored for customer vulnerability leads in the credit and collections sector, explored these challenges, highlighted the need for earlier intervention and discussed why signposting to support alone is not enough.

We discussed how creditors can integrate proactive tools like benefit calculators into customer journeys at the pre-arrears stage, boosting financial resilience.