The Consumer Financial Protection Bureau on Wednesday published its much-anticipated list of debt collection complaints its gathered since accepting them on July 10. The grand total in the
If the number seems low to industry insiders - the Federal Trade Commission averaged 15,000 a month - it's because the figure represents only complaints that had a response from the companies named. Of the complaints, 5,071 consumers said they received a timely response from the companies named and only 843 consumers disputed their resolution.
The categories named in the database are broken down thusly: 23.9% credit card; 9.4% medical; 4.9% mortgage; 3.3% auto; 3.0% private student; 2.6% federal student; 20.1% uncategorized; and 32.7% other (telecom, etc.).
The types of companies named include: collection agencies; debt buyers; collection attorneys, large banks and payday lenders. The latter group in the future will show up in another section after the Consumer Financial Protection Bureau on Wednesday announced the launch of a new complaint tool for payday loans.
CCR will update this story and publish follow-up stories as additional information is made available.
