Consumer Complaints against Debt Collectors at All-Time High

The US Federal Trade Commission (FTC) recently published its annual report on the Fair Debt Collection Practices Act (FDCPA). In this report, the FTC alarmingly highlights a sharp increase in consumer complaints about debt collectors. In 2010, consumers lodged 140,036 complaints against debt collectors; these claims of abuse now account for 27 percent of all those filed with the FTC. These numbers are up from 2009, when 119,609 complaints were filed. In fact, complaints about abusive debt collectors outnumber all other categories of consumer complaints. Debt collectors are increasingly relying on illegal tactics to pressure and intimidate debtors the FTC says, likely due to competitive market factors. Many debtors unfortunately do not realize that debt collectors are strictly prohibited from engaging in abusive, fair, and/or deceptive measures during collection. Sadly, even more complaints are believed to... Read More... Consumer Complaints against Debt Collectors at All-Time High