The CFPB received approximately 207,800 debt collection complaints in 2024, but this number only captures what consumers actually know is wrong and take the time to report. The most consequential collection techniques, like manipulating a consumer into a statute of limitations reset, are completely invisible in regulatory complaint data. Compliance enforcement varies wildly across the … Read more
Debt collection lawsuits are not distributed randomly. Court data proves that a massive percentage of civil dockets are dominated by a handful of corporate debt buyers, not original creditors. Having multiple accounts in collections dramatically increases your risk. Consumers with five or more delinquent debts face a 35 percent lawsuit rate, compared to just 6 … Read more
The CFPB received approximately 207,800 debt collection complaints in 2024, nearly double the volume from the previous year. A staggering 45% of all complaints involved consumers who simply did not recognize the debt being collected, marking a 333% increase in this specific issue. Lawsuit threats are weaponized heavily: 59% of legal threat complaints involved claims … Read more