Loan Companies, Debt Complaints
The buyer Financial Protection Bureau (CFPB) had been estabpshed this year within the wake regarding the worst financial meltdown in years. Its mission is always to determine dangerous and unjust practices that are financial to coach customers about these techniques, and also to manage the finance institutions that perpetuate them.
The CFPB has created and made available to the pubpc the Consumer Complaint Database to help accomppsh these goals. The database tracks complaints created by customers into the CFPB and exactly how they truly are solved. The buyer Complaint Database allows the CFPB to determine monetary practices that threaten to harm customers, plus it enables the pubpc to gauge both the performance associated with the economic industry and associated with the CFPB.
This is basically the 5th in a number of reports that review complaints towards the CFPB nationwide as well as on a state-by-state degree. In this report we explore consumer complaints about commercial collection agency, with all the purpose of uncovering patterns when you look at the issues individuals are experiencing with loan companies and documenting the part associated with CFPB in assisting customers effectively resolve their complaints.
Customer complaints about commercial collection agency are typical. Between July 2013 вЂ“ whenever customer Financial Protection Bureau began recording information on business collection agencies вЂ“ and January 16, 2014, the CFPB recorded a lot more than 11,000 complaints about commercial collection agency вЂ“ the second-highest level of complaints received about any monetary solution during that period of time. Continue reading