ARM Industry Claims Plummeted in September

Litigation dramatically decreased for the FDCPA, TCPA and FCRA, as well as for monthly consumer complaints to the CFPB, according to the latest report from WebRecon.

11/02/2022 2:15 P.M.

1.5 minute read

WebRecon’s latest report shows litigation plummeted across the board in September in Telephone Consumer Protection Act, Fair Debt Collection Practices Act and Fair Credit Reporting Act cases.

FDCPA suits decreased 18% from August to September, TCPA suits decreased 20.2%, FCRA cases decreased 6.4%, and consumer complaints to the CFPB decreased 11.1%, according to WebRecon.

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

Fair Debt Collection Practices Act

FDCPA claims decreased by 18% to 305 in September compared to 372 in August. Compared to claims from Jan. 1 through Sept. 30, 2021, FDCPA claims declined 27.3%, from 5,043 to 3,664, during the same period this year.

Telephone Consumer Protection Act

TCPA claims decreased by 20.2% to 134 in September compared to 168 in August. Compared to claims from Jan. 1 through Sept. 30, 2021, TCPA claims declined 16.7%, from 1,395 to 1,162, during the same period this year.

Fair Credit Reporting Act

FCRA claims decreased by 6.4% to 465 in September compared to 497 in August. Compared to claims from Jan. 1 through Aug. 31, 2021, FCRA claims increased 5.6%, from 4,066 to 4,295, during the same period this year.

Consumer Financial Protection Bureau Complaints

Consumer complaints filed with the CFPB decreased 11.1% from 4,984 in August to 4,479 in September.

There were 6,022 complaints in September 2021 compared to the 4,479 complaints in September this year—a 25.6% decrease.

The types of debt behind the complaints were:

  • 1,343 Other debt (30%)
  • 1,058 Credit card debt (24%)
  • 896 I do not know (20%)
  • 701 Medical debt (16%)
  • 268 Auto debt (6%)
  • 79 Payday loan debt (2%)
  • 78 Mortgage debt (2%)
  • 30 Federal student loan debt (1%)
  • 26 Private student loan debt (1%)

The most common type of complaint was about attempts to collect debt not owed, at 52% or 2,345 complaints, followed by complaints about written notification about a debt at 18% or 826.

Read the complete WebRecon report here.

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