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Wednesday, December 28, 2016

CFPB Monthly Complaint Snapshot: Debt Collection Complaints

The CFPB complaint snapshot for December highlighted consumer complaints about debt collection. The most common complaint about debt collection has to do with attempts to collect on a debt that the consumer says is not owed. Many consumers complained they were never provided documentation to verify the debt, even after submitting requests for verification. Consumers also complained about their accounts being forwarded to third-party debt collectors without notice and receiving frequent and repeated calls.

As of December 1, 2016, the bureau has handled approximately 1,058,100 complaints nationally across all products. The CFPB also highlighted complaints from Arizona and the Phoenix metro area.

Read more.

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