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debt collection

CFPB's Report on Debt Collection

CFPB's Report on Debt Collection

A Consumer Financial Protection Bureau report found that more than half of consumers who reported being contacted about a debt also reported that the debt was not theirs, was owed by a family member, or was for the wrong amount. Unfortunately, the survey also found that debt collectors continue to use threatening tactics and most people who are sued for a debt do not show up in court.