CFPB Features Consumer Story on Debt Collection Dispute

Published on:
10 September 2014 at 08:16 a.m. ET

Written by: Patrick Lunsford – Editor – insideARM

http://www.insidearm.com/news/00000527-cfpb-features-consumer-story-on-debt-coll/

The CFPB Tuesday featured on its blog the story of one consumer’s issues with a credit card company that continued to contact the man for a debt he said he did not owe.

William tried to resolve the issue for over four years, seeing his credit get ruined in the process. He said “None of them could do anything… except tell me I had to pay them the $8,500.”

He finally got relief when he logged a complaint with the CFPB and the credit card company was forced to respond. After a week of investigation, the company removed William as the debtor on the account.

The story tracks similarly to consumer complaints from July, which we covered Monday, that showed consumers are increasingly complaining about collection calls on debt they say they do not owe.

Watch William’s story below in a CFPB-produced slip posted to YouTube: