Top Debt Collection Complaints

February 27, 2014
debt settlement news
Since it began fielding complaints about debt collection last summer, the Consumer Financial Protection Bureau has received more than 11,000 related gripes -- second in volume only to mortgage grievances.

The biggest problem consumers say they have with debt collectors is being pursued for a debt that is not even theirs. Roughly a fourth of the submitted complaints -- or about 2,700 -- fell into that category. Also troubling were repeat or overly frequent calls from debt collectors, cited by 13 percent of consumers; lack of information to prove that the debt was indeed theirs and that the amount was accurate was also cited by 13 percent. The public additionally was nonplussed about being harassed for debts that had already been resolved; attempts to collect an inaccurate amount; disclosure of the debt to a third party; threats of legal action; or continued contact from a debt collector that has been asked to stop.

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.