Litigation continued to slide for the FDCPA, TCPA and FCRA, as did monthly consumer complaints to the CFPB, according to the latest report from WebRecon.
12/01/2022 12:15 P.M.
2 minute read
WebRecon’s latest report shows litigation remained low across the board in October in Telephone Consumer Protection Act, Fair Debt Collection Practices Act and Fair Credit Reporting Act cases.
FDCPA suits decreased 7.2% from September to October, TCPA suits decreased 2.2%, FCRA cases decreased 9.2%, while consumer complaints to the CFPB increased 2.8%, according to WebRecon.
Here is a breakdown of claims under accounts receivable management industry laws as well as CFPB complaints for October.
Fair Debt Collection Practices Act
FDCPA claims decreased by 7.2% to 283 in October compared to 305 in September. Compared to claims from Jan. 1 through Oct. 31, 2021, FDCPA claims declined 30%, from 5,654 to 3,960, during the same period this year.
Telephone Consumer Protection Act
TCPA claims decreased by 2.2% to 132 in October compared to 135 in September. Compared to claims from Jan. 1 through Oct. 31, 2021, TCPA claims declined 14.2%, from 1,512 to 1,297, during the same period this year.
Fair Credit Reporting Act
FCRA claims decreased by 9.2% to 422 in October compared to 465 in September. Compared to claims from Jan. 1 through Oct. 31, 2021, FCRA claims increased 4.3%, from 4,541 to 4,735, during the same period this year.
Consumer Financial Protection Bureau Complaints
Consumer complaints filed with the CFPB increased slightly by 2.8% from 4,705 in October compared to 4,578 in September.
There were 5,824 complaints in October 2021 compared to the 4,705 complaints in October this year—a 19.2% decrease.
The types of debt behind the complaints were:
- 1,426 Other debt (30%)
- 1,141 Credit card debt (24%)
- 972 I do not know (21%)
- 678 Medical debt (14%)
- 240 Auto debt (5%)
- 100 Payday loan debt (2%)
- 90 Mortgage debt (2%)
- 35 Federal student loan debt (1%)
- 23 Private student loan debt (0%)
The most common type of complaint was about attempts to collect debt not owed, at 52% or 2,468 complaints, followed by complaints about written notification about a debt at 18% or 847.
Read the complete WebRecon report here.
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