Neurodivergent UK Residents Face Financial Barriers, Study Finds
A significant number of neurodivergent individuals in the UK face financial challenges due to their neurodiversity, with many struggling to seek help from creditors or debt advice services. A recent study commissioned by the Money and Mental Health Policy Institute has highlighted the need for more flexible and empathetic approaches to supporting these customers.
The study found that feeling overwhelmed (73%) and anxious (72%) were major barriers to neurodivergent individuals seeking creditor support. Despite this, only 32% of those seeking debt advice disclosed their neurodiversity to the advice service, indicating a need for better understanding and support.
Neurodivergent individuals preferred flexible communication choices when engaging with financial services or debt advice. However, 64% did not seek help from creditors, with negative stigma about debt deterring 60% from doing so. Almost all neurodivergent individuals surveyed (97%) found managing debt challenging due to their neurodiversity, with those with ADHD, autism, or both struggling with impulsive spending, tracking income, missing payment deadlines, and managing creditor communications.
StepChange and Equifax have called for creditors and debt advice providers to adopt more flexible and empathetic approaches to neurodivergent customers. Clear pathways for improvement include proactive disclosure prompts, staff training, flexible communication, simplified information, and task assistance.
The study's findings underscore the urgent need for creditors and debt advice providers to better understand and support neurodivergent customers. By adopting more flexible and empathetic approaches, they can help neurodivergent individuals overcome financial challenges and manage their debt more effectively. Sarah Douglas, a StepChange client, found understanding her autism and ADHD helped her manage finances better, highlighting the positive impact of appropriate support.
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