Litigation was down for FCRA and TCPA claims but up for FDCPA claims, according to the latest report from WebRecon.
12/14/2023 10:55 A.M.
2 minute read
WebRecon’s latest report shows litigation decreased in October for Fair Credit Reporting Act and Telephone Consumer Protection Act claims, but increased for Fair Debt Collection Practices Act claims.
FDCPA suits increased 14.7% from September 2023 to October 2023, TCPA cases decreased 17.3%, FCRA cases decreased 7.8%, and CFPB complaints increased 3.1%, according to WebRecon findings.
Here is a breakdown of claims under accounts receivable management industry laws as well as CFPB complaints for October 2023.
Fair Debt Collection Practices Act
FDCPA claims increased by 14.7% to 414 in October compared to 361 in September. Compared to claims from Jan. 1 through Oct. 31, 2022, FDCPA claims declined 13.4%, from 3,867 to 3,434, during the same period in 2023.
Telephone Consumer Protection Act
TCPA claims decreased 17.3%, with 129 claims in October compared to 156 claims in September. Compared to claims from Jan. 1 through Oct. 31, 2022, TCPA claims increased 11.5%, from 1,304 to 1,454, during the same period in 2023.
Fair Credit Reporting Act
FCRA claims decreased by 7.8% to 485 in October compared to 526 in September. Compared to claims from Jan. 1 through Oct. 31, 2022, FCRA claims decreased 2.1%, from 4,759 to 4,661, during the same period in 2023.
Consumer Financial Protection Bureau Complaints
Consumer complaints filed with the CFPB increased by 3.1% to 5,517 in October compared to 5,352 in September.
There were 4,761 complaints in October 2022 compared to the 5,517 complaints in October 2023—a 15.9% increase.
The types of debt behind the complaints were:
1,353 I do not know (25%)
1,273 Credit card debt (23%)
902 Other debt (16%)
522 Medical debt (9%)
447 Rental debt (8%)
440 Telecommunications debt (8%)
280 Auto debt (5%)
133 Payday loan debt (2%)
71 Mortgage debt (1%)
49 Private student loan debt (1%)
47 Federal student loan debt (1%)
The most common type of complaint was about attempts to collect debt not owed, at 55% or 3,016 complaints, followed by complaints about written notification about a debt at 16% or 906.
Read the complete WebRecon report here.
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