The number of lawsuits alleging violations of the Telephone Consumer Protection Act and the Fair Debt Collection Practices Act continue to remain well below the pace from last year, according to data released recently by WebRecon.
Through the first three-quarters of 2019, the number of FDCPA claims is down 9.4% from the same period a year ago, and the number of TCPA claims is down 14.7%. Meanwhile, the number of claims alleging violations of the Fair Credit Reporting Act is up 7.2% from the first nine months of 2018, according to WebRecon’s data.
Also on the decline are the number of complaints filed against collection agencies with the Consumer Financial Protection Bureau. The 3,995 filed in September was 6.7% lower than the number of complaints filed in August, and through the first nine months of 2019, the 35,931 complaints is 12.3% lower than the same period last year.
The data from WebRecon is incredibly helpful for collection agencies who might be interested in understanding the direction that plaintiffs and consumer attorneys are heading, in terms of the lawsuits they are filing against companies in the accounts receivable management industry. The knowledge can help companies shore up possible areas where they might get sued or prepare for suits that might be filed against them.
All told, through the first nine months of 2019, there have been 10,735 lawsuits filed against collection agencies, according to WebRecon.