Debt Collectors Resolve 84 % of Consumer Complaints

 “According to the Council of Better Business Bureaus as reported by American Collectors Association, debt collection agencies are among the nation's leading industries in resolving consumer complaints.

 Debt collectors take consumer complaints very seriously and agree with the significant importance of protecting consumers against any business that engages in deceptive, unfair or abusive practices, said ACA Interim CEO Ted Smith.

 In the BBB annual report on consumer complaints, released in March 2011, debt collection agencies resolved 84 percent of the complaints received compared to an average of 75.8 percent for all industries tracked. Collections agencies rank 19th in the number of inquiries and fifth in the total number of complaints.

 Overall, the BBB received 535,224 inquiries about collection agencies in 2010. Of these, 14,966 were complaints and 12,568 were resolved based on BBB standards. Since 2002, collection agencies have been above the national average in resolving more than 80 percent of the complaints filed with the BBB.”