Collector - April 2018 - 12

FYI

From 2015 to 2016,
complaints against
debt collectors
decreased by

13%
Leaders of the Pack
Consumers complained
more about:

2015

2016

cellular telephone
service and supplies;
telephone communications;
cable television,
CATV and satellite;
and auto car dealers.

Source: Council of Better Business Bureaus

Double-Digit Decline in BBB Debt Collection Complaints
Emerging trend shows that debt collectors are working hard to assist consumers and help the U.S. economy.

T

he debt collection industry is
often subject to unfair negative
perceptions, but new data from a
reliable source shows that debt collectors
are working every day to help consumers
and do not deserve the reputation
they are given in media reports. In
reality, consumer complaints against
debt collectors are declining, and debt
collectors still outrank other industries in
complaint resolution.
The Council of Better Business Bureaus
released data showing that debt collectors
have dropped to fifth place among the
service providers consumers complain
about most. The BBB's 2016 Complaint
and Inquiry Statistics report also shows
a dramatic decrease in the number of
complaints against debt collectors.
Delving deeper into the BBB data,
debt collectors received 16,817 consumer
complaints in 2016. Consumers

12

complained more about cellular
telephone service and supplies, telephone
communications, cable television, CATV
and satellite as well as auto dealers than
debt collectors.
Complaints against debt collectors
declined 13 percent from 2015 to 2016,
according to the data. Coupled with an 8.5
percent decrease from 2014 to 2015 and
an 11 percent decrease from 2013 to 2014,
this marks a nearly 40 percent drop in
complaints from four years earlier.
While there is always room for
continued improvement, the BBB's
complaint data represents a very small
fraction of the 1 billion consumer contacts
made by debt collectors each year. The
vast majority of contacts by debt collectors
are amicable transactions that help restore
consumers' good financial standing.
Collection agencies have made great
strides in improving customer service and

reducing the number of complaints. Debt
collectors are trained financial services
professionals working to help consumers
solve problems and get back their
financial footing while at the same time
keeping the U.S. credit-based economy
healthy and thriving.
Recovery of consumer debt by thirdparty debt collectors on behalf of America's
public, private and nonprofit sectors
benefits the nation's economic health.
Third-party debt collectors returned
nearly $67 billion to U.S. creditors in 2016.
That translates to an average savings of
$579 for every household that did not
have to pay more for goods and services to
offset other consumers' debts. In addition
to the economic benefits, third-party
debt collectors are engaged in their local
communities as valued civic leaders,
employers, volunteers, philanthropists
and taxpayers.

ACAINTERNATIONAL.ORG


http://www.ACAINTERNATIONAL.ORG

Table of Contents for the Digital Edition of Collector - April 2018

Collector - April 2018 - Cover1
Collector - April 2018 - Cover2
Collector - April 2018 - 1
Collector - April 2018 - 2
Collector - April 2018 - 3
Collector - April 2018 - 4
Collector - April 2018 - 5
Collector - April 2018 - 6
Collector - April 2018 - 7
Collector - April 2018 - 8
Collector - April 2018 - 9
Collector - April 2018 - 10
Collector - April 2018 - 11
Collector - April 2018 - 12
Collector - April 2018 - 13
Collector - April 2018 - 14
Collector - April 2018 - 15
Collector - April 2018 - 16
Collector - April 2018 - 17
Collector - April 2018 - 18
Collector - April 2018 - 19
Collector - April 2018 - 20
Collector - April 2018 - 21
Collector - April 2018 - 22
Collector - April 2018 - 23
Collector - April 2018 - 24
Collector - April 2018 - 25
Collector - April 2018 - 26
Collector - April 2018 - 27
Collector - April 2018 - 28
Collector - April 2018 - 29
Collector - April 2018 - 30
Collector - April 2018 - 31
Collector - April 2018 - 32
Collector - April 2018 - 33
Collector - April 2018 - 34
Collector - April 2018 - 35
Collector - April 2018 - 36
Collector - April 2018 - 37
Collector - April 2018 - 38
Collector - April 2018 - 39
Collector - April 2018 - 40
Collector - April 2018 - 41
Collector - April 2018 - 42
Collector - April 2018 - 43
Collector - April 2018 - 44
Collector - April 2018 - 45
Collector - April 2018 - 46
Collector - April 2018 - 47
Collector - April 2018 - 48
Collector - April 2018 - 49
Collector - April 2018 - 50
Collector - April 2018 - 51
Collector - April 2018 - 52
Collector - April 2018 - Cover3
Collector - April 2018 - Cover4
http://online.collector.com/collectormagazine/201906/
http://online.collector.com/collectormagazine/201905/
http://online.collector.com/collectormagazine/201904/
http://online.collector.com/collectormagazine/201903/
http://online.collector.com/collectormagazine/201902/
http://online.collector.com/collectormagazine/201901/
http://online.collector.com/collectormagazine/201812/
http://online.collector.com/collectormagazine/201811/
http://online.collector.com/collectormagazine/201810/
http://online.collector.com/collectormagazine/201809/
http://online.collector.com/collectormagazine/201808/
http://online.collector.com/collectormagazine/201807/
http://online.collector.com/collectormagazine/201806/
http://online.collector.com/collectormagazine/201805/
http://online.collector.com/collectormagazine/201804/
http://online.collector.com/collectormagazine/201803/
http://online.collector.com/collectormagazine/201802/
http://online.collector.com/collectormagazine/201801/
http://online.collector.com/collectormagazine/201712/
http://online.collector.com/collectormagazine/201711/
http://online.collector.com/collectormagazine/201710/
http://online.collector.com/collectormagazine/201709/
http://online.collector.com/collectormagazine/201708/
http://online.collector.com/collectormagazine/201707/
http://online.collector.com/collectormagazine/201706/
http://online.collector.com/collectormagazine/201705/
http://online.collector.com/collectormagazine/201704/
http://online.collector.com/collectormagazine/201703/
http://online.collector.com/collectormagazine/201702/
http://online.collector.com/collectormagazine/201701/
http://online.collector.com/collectormagazine/201612/
http://online.collector.com/collectormagazine/201611/
http://online.collector.com/collectormagazine/201610/
http://online.collector.com/collectormagazine/201609/
http://online.collector.com/collectormagazine/201608/
http://online.collector.com/collectormagazine/201607/
http://online.collector.com/collectormagazine/201606/
http://online.collector.com/collectormagazine/201605/
http://online.collector.com/collectormagazine/201604/
http://online.collector.com/collectormagazine/201603/
http://online.collector.com/collectormagazine/201602/
http://online.collector.com/collectormagazine/201601/
http://online.collector.com/collectormagazine/201512/
http://online.collector.com/collectormagazine/201511/
http://online.collector.com/collectormagazine/201510/
http://online.collector.com/collectormagazine/201509/
http://online.collector.com/collectormagazine/201508/
http://online.collector.com/collectormagazine/201507/
http://www.nxtbookMEDIA.com