insideARM: Accounts Receivable Management
Some Collection Agencies Already Have Practice with CFPB Complaints
According to several sources and accounts, the CFPB will begin taking debt collection complaints in July. Once that happens, ARM companies will have to set up processes to address each complaint logged against it. But some firms have already been dealing with complaints.
An analysis of consumer complaint data in the CFPB’s Consumer Response system shows that several high-profile collection agencies, debt buyers, and collection law firms have been dealing with complaint response for a while.
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