At Medicred, we understand that applying for finance for healthcare treatment can be a significant and sometimes stressful decision. We are committed to supporting our customers fairly and with care, especially where personal circumstances may place someone in a vulnerable situation.
A vulnerable customer is not a fixed type of person. Vulnerability can affect anyone at any time, and it may be temporary, long-term or arise unexpectedly due to a change in personal circumstances.
Vulnerability may arise because of a range of personal circumstances, including for example:
Being vulnerable does not automatically mean you cannot apply for finance. It simply means we may need to take extra care to make sure the loan is appropriate for your circumstances, that you understand the information provided and that you are treated fairly throughout the process.
Before entering into a regulated credit agreement with us, you may wish to pause and ask yourself whether any of the following apply to you:
a. Financial wellbeing
b. Emotional wellbeing
c. Understanding and decision-making
If any of these questions cause concern, you may be in vulnerable circumstances or at greater risk of harm.
That does not mean you cannot speak to us, it means we want to make sure you receive the right support.
If you inform us that you are vulnerable, or if we identify that you may need additional support, we will take this into account during the application process and throughout your customer journey.
Depending on your circumstances, we will support you with:
Our aim is to ensure that you are treated fairly and that we do not place you into a credit agreement that may not be suitable for your circumstances or place you into a difficult financial position.
Vulnerability is not only something that may exist when you first apply. It can arise at any point, including:
If your circumstances change, we encourage you to contact us as soon as possible at support@medicred.co.uk so we can understand your situation and consider what support may be appropriate.
If you think you may be vulnerable, or if you are unsure you fall in the above categories and need further assistance, please do not hesitate to contact us. Telling us about your circumstances will help us support you appropriately and fairly.
You may wish to let us know if:
Although this may seem self-evident, it is important to emphasise that your mental health should never be compromised by financial pressure or by the process of applying for or repaying credit. If the stress, worry or uncertainty associated with borrowing or managing repayments is affecting your wellbeing, please do not hesitate to seek support.
At times, financial concerns can feel overwhelming, but help is available.
Your GP or a qualified mental health professional may be able to support you. You may also wish to contact one of the following organisations:
Sometimes vulnerability can arise because of financial difficulty, debt pressures or a series of challenging financial circumstances. If you are worried about debt, struggling to manage your financial commitments, or concerned that borrowing may place additional pressure on your situation, it may be helpful to seek independent debt advice.
Debt can feel overwhelming, but with the right support it does not have to be permanent. Free and independent organisations can help you understand your options, manage financial pressure and make more informed decisions.
For Debt Support, you may also wish to contact one of the following organisations:
If gambling is affecting your finances, wellbeing or ability to manage repayments, it may be helpful to seek specialist support. Gambling-related harm can increase financial pressure, reduce financial resilience and make it harder to manage borrowing sustainably.
If you think gambling may be affecting you, support is available from specialist organisations who can help you regain control and access confidential advice.
Medicred is committed to treating all customers fairly, respectfully and diligently. Where vulnerability is identified, we aim to provide appropriate support and to make sure our processes, communications and decisions are consistent with good customer outcomes.
For more information on how we support vulnerable customers, please see our Vulnerable Customers Policy.
If you would like to discuss your circumstances with us or let us know about any vulnerabilities, please contact us through one of the below options and we will do our best to support you.
You can reach us by;
Email: support@medicred.co.uk
Telephone: 020 3488 4284
We care deeply about the planet and creating a business that gives back to nature. Medicred plants a tree for every new customer that we onboard.
