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CFPB highlights debt collection complaint statistics

Joe Mont | January 3, 2017

The Consumer Financial Protection Bureau has released a monthly “complaint snapshot” highlighting consumer complaints about debt collection. The report shows that the most common complaint about debt collection has to do with attempts to collect on a debt that the consumer says is not owed.

As of Dec. 1, 2016 the Bureau has handled approximately 1,058,100 complaints across all products, most of them detailed on its public compliant database.

Since the Bureau began accepting complaints in 2011, debt collection has been the most-complained-about financial product or service by over 100,000 complaints compared to the next most-complained-about product. As of Dec. 1, 2016, the Bureau had handled approximately 285,000 debt collection complaints.

Findings in the comliant tally include:

  • More than a third (39 percent) of complaints submitted about debt...
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