BCFP Complaint Snapshot Report Details Drop in Share of Collection Complaints

While still the product that is receiving the most complaints filed by consumers with the Bureau of Consumer Financial Protection, the share of debt collection complaints relative to other products shrunk in 2017 compared with 2016, according to a report issued earlier this week by the agency.

There have been 302,438 total complaints lodged by consumers against debt collectors, according to the report, but collection-relation complaints made up only 26% of the total number filed in 2017, compared with 30% a year earlier.

The BCFP’s report offered a state-by-state snapshot of complaints that have been filed.

Residents from California, Texas, and Florida account for nearly 30% of all the complaints that have been filed. While leading the way on the total aggregate number of complaints, when looking at the number of complaints on a per-capita basis, they lagged behind the District of Columbia, Georgia, and Delaware. The District of Columbia averaged 359 complaints for every 100,000 people, well above everyone else. Georgia was next at 270 per 100,000 residents. Florida was fourth at 221 complaints per 100,000 residents. Residents from Iowa are the least likely to complain, averaging 63 complaints per 100,000 residents.

The marketshare of collection complaints — when comparing the share of collection complaints to those of other products between 2016 and 2017 — declined in 48 states and the District of Columbia. In Maine and Nevada, the shared stayed exactly the same. In no state did the share of collection complaints increase between 2016 and 2017, according to the report.

The top issue with collections was attempting to collect on a debt not owed in all 50 states and Washington, D.C.