Letting creditors know about vulnerabilities or adjustments

Anyone can become vulnerable at any time. There is help for you if due to your personal circumstances you’re especially susceptible to harm, particularly when a firm isn’t acting with appropriate levels of care. 

They might also have specialist teams to give the support you need in order to manage your debt and day-to-day money, including relevant options for third-party representation. So you should speak to your creditor about this. 

The Financial Conduct Authority (FCA) has set out four main factors for financial services firms identifying the characteristics of vulnerability:

• Health – if you have a health condition or illness that affects your ability to carry out day-to-day tasks.
• Life events – if you’ve suffered a bereavement, lost your job, or had a relationship breakdown.
• Resilience – if you find it hard to withstand financial or emotional shocks.
• Capability – if you don’t understand, and have trouble managing, your money. This might be because you find it hard to do things like read letters or write emails.

If you’re facing higher living costs, find out about extra sources of income and support in our section Help with the cost of living 

If you have a physical disability, mental health problems or are vulnerable, you might be worried about talking to your creditors. 

But it’s a good idea to tell them about your situation. This is because once they know, they’ll be better able to offer support. They might have a specialist team to help customers like you. 

Most companies will let you contact them in the way that best suits you. That can be webchat, email, telephone or in person. 

Companies also have a duty to make reasonable adjustments to ensure goods and services are accessible for disabled customers, at no extra charge. This might include, for example, making adjustments to the way they communicate remotely or in person, or offer delegated or third-party access so a trusted person can help you manage your affairs.

If you wish to let your creditors know about a vulnerability or adjustment you can check if they are signed up to SupportHubOpens in a new window where you can register and select which of your creditors to notify of your support needs. 

You can find out more about how your creditors can help in our guide Money problems and mental wellbeing.

If you need help to sort your payments, try our Bill prioritiser. And our Budget Planner can help you understand how much you can afford to offer your creditors. 

You can also find out what benefits you’re entitled to and how to claim them in our guides to benefits, and what financial support and support services out there to help you.

All creditors have a responsibility to ensure their products and services are accessible and that you are not being treated unfairly on the basis of your vulnerability. 

Financial service firms are also required to recognise when consumers are vulnerable and act with appropriate levels of care. This means that they should have appropriately trained staff and the support mechanisms in place to respond to your needs. They should also take your vulnerability into account when considering whether the products or services they offer will meet your needs.  

You should talk to your creditors if there is something you’re not happy with and explain what you would like them to do to make things right.

If that doesn’t sort things out, you can make a complaint. Citizens Advice has more information about how to make a complaintOpens in a new window and the relevant ombudsman for the organisation you are complaining about. 

If you are unhappy with treatment from a financial services firm you can also contact the Financial Ombudsman ServiceOpens in a new window