CFPB Releases New Report on Debt Collection and Credit Reporting Complaints

The Consumer Financial Protection Bureau (“CFPB”) released a new report entitled “Complaint Snapshot: Debt Collection,” which provides US consumer complaint data as of April 1, 2018. According to the report, the CFPB handled over 30,000 debt collection complaints in March 2018, and debt collection comprised 27% of the total complaints to the bureau (others concerned mortgage lenders and credit reports). The report also found that 37% of complaints to the bureau concerned credit reporting errors. The most common concerns lodged with the CFPB related to attempts to collect debts not owed by the consumer, collection without written notification, and/or using illegal communication tactics.
 
This report demonstrates that illegal debt collection tactics and credit errors continue to plague US consumers, including those living here in Las Vegas. If you are experiencing illegal debt collection tactics or credit reporting errors, you should hire a Las Vegas credit lawyer to represent you. Often this legal representation is free of charge because federal law requires the creditors and credit bureaus to cover your attorney's fees and costs.
 
Source: https://www.jdsupra.com/legalnews/cfpb-issues-snapshot-of-debt-collection-87297/