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ARM Industry Claims Increased in December

increasing bar graphLitigation went up at the end of 2022 for FCRA and FDCPA claims while TCPA claims drastically decreased, according to the latest report from WebRecon.

02/22/2023 3:50 P.M.

2 minute read

WebRecon’s latest report shows litigation remained fairly high across the board in December in Fair Debt Collection Practices Act and Fair Credit Reporting Act cases; however, Telephone Consumer Protection Act claims plummeted.

FDCPA suits increased 11.2% from November to December 2022, FCRA cases increased 8% and CFPB complaints increased 7%, while TCPA cases decreased 32.4%, according to WebRecon.

Here is a breakdown of claims under accounts receivable management industry laws as well as CFPB complaints for December 2022.

Fair Debt Collection Practices Act

FDCPA claims increased by 11.2% to 297 in December compared to 267 in November. Compared to claims from Jan. 1 through Dec. 31, 2021, FDCPA claims declined 31.3%, from 6,584 to 4,525, during the same period in 2022.

Telephone Consumer Protection Act

TCPA claims decreased by 32.4% to 94 in December compared to 139 in November. Compared to claims from Jan. 1 through Dec. 31, 2021, TCPA claims declined 10.8%, from 1,716 to 1,531, during the same period in 2022.

Fair Credit Reporting Act

FCRA claims increased by 8% to 447 in December compared to 414 in November. Compared to claims from Jan. 1 through Dec. 31, 2021, FCRA claims increased 3.5%, from 5,407 to 5,597, during the same period in 2022.

Consumer Financial Protection Bureau Complaints

Consumer complaints filed with the CFPB increased by 7% to 4,695 in December compared to 4,389 in November.

There were 4,995 complaints in December 2021 compared to the 4,695 complaints in December 2022—a 6% decrease.

The types of debt behind the complaints were:

  • 1,414 Other debt (30%)
  • 1,254 I do not know (27%)
  • 977 Credit card debt (21%)
  • 662 Medical debt (14%)
  • 209 Auto debt (4%)
  • 69 Payday loan debt (1%)
  • 52 Mortgage debt (1%)
  • 31 Private student loan debt (1%)
  • 27 Federal student loan debt (1%)

The most common type of complaint was about attempts to collect debt not owed, at 55% or 2,566 complaints, followed by complaints about written notification about a debt at 17% or 813.

Read the complete WebRecon report here.

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If you have executive leadership updates or other member news to share with ACA, contact our communications department at [email protected]. View our publications page for more information and our news submission guidelines here.

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