Three-Month Debt Collection Complaint Average Continues to Decline
The latest Consumer Financial Protection Bureau's monthly complaint snapshot focused on credit card complaints, which increased from May to June 2016.The three-month average for debt collection complaints declined for the second month in a row, according to the Consumer Financial Protection Bureau’s latest monthly complaint snapshot released on July 27, 2016. The
three-month average of debt collection complaints from April to June
2016 declined 3 percent to 7,063, compared to 7,265 in April to June
2015. The average recorded in the May report
also declined. The three-month average for debt collection complaints
from March to May this year was 7,415, compared to 7,442 this time last
year, ACA International previously reported. According to the
report, the CFPB received 7,032 debt collection complaints in June. Debt
collection represented 29 percent of the approximately 24,500
complaints submitted in June–the same percentage as reported in May. Overall,
the CFPB has handled a total of approximately 930,700 complaints as of
July 1, 2016, according to the report; the CFPB has received a total of
248,278 complaints on debt collection. More info here.
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