May Dip in Debt Collection Suits and Complaints Contrasts 2014 Data

From April to May 2014, complaints to the Consumer Financial Protection Bureau about debt collectors fell nearly 16 percent, according to the latest data from WebRecon. There were a total 3188 complaints filed against debt collectors in May 2014, but the data shows that 95 percent of complaints received a timely response, and 69 percent of complaints were closed with explanation. Consumers accepted 83 percent of the responses. <more>