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Volume 25 - Number 25

December 8, 2014

Downloads Available: Consumer Debt Collection Complaints Filed With CFPB by Company - as of 9/30/14

Complaints About Debt Collection Down Again by Double Digits in 3Q

Debt collectors showed an even larger double-digit decline in consumer complaints filed about them with the CFPB in the third quarter of 2014 than they did in the second – a 20.5 percent drop versus a 11.5 percent decline – but the latest numbers in the bureau’s database show a huge 85.7 percent jump year-over-year. Among the top 50 ranked by Inside the CFPB, 17 companies saw triple-digit increases YOY, and one even saw a quadruple-digit increase for the period. Part of the surge could be explained by the fluid nature of the CFPB’s data collection and classification processes, which tends to reflect retroactive adjustments. For instance, back on April 1, first quarter data showed 9,140 debt collection complaints. But by July 1, ...

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