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Wednesday, May 25, 2016

CFPB Monthly Complaint Snapshot: Credit Reporting Complaints

This month’s CFPB complaint snapshot spotlighted consumer complaints about credit reporting. Consumer’s most frequent complaints, 77%, continue to be about incorrect information on their credit reports. Customers also report difficulty having errors resolved. Frequently these complaints are about a debt collection item that has been paid but appears as an unpaid debt on the repot, a debt that is not recognized by the consumer or a debt that is no longer due because it has passed the point of being enforceable in court.

Since the CFPB has been accepting credit reporting complaints in October 2012, the bureau has handled approximately 143,700 credit reporting complaints. This report also took an in-depth look at New Mexico.

Read more.

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