Debt collection complaints to CFPB decline.
Credit: ACA International
In 2018, the bureau handled approximately 81,500 debt collection complaints, compared to 84,500 in 2017, according to the Consumer Financial Protection Bureau’s eighth annual report to Congress on the Fair Debt Collection Practices Act .
From Jan. 1, 2018 through Dec. 31, 2018, the CFPB sent approximately 51,700 (63 percent) of the 81,500 debt collection complaints it handled during that time to companies for review and response.
The report notes that the bureau’s analysis excludes multiple complaints submitted by a given consumer on the same issue and whistleblower tips.
Collection agencies continue to respond to and resolve complaints effectively and efficiently. According to the CFPB report, companies already responded to approximately 49,400 complaints, or 95 percent, of those they received for last year.