We're 4 months into 2015, which is a great time to review trend data from 2014. The Consumer Financial Protection Bureau (CFPB) releases raw data every year regarding complaints and collection agencies. At National Service Bureau we pride ourselves on ethical collection processes. We take extra care when dealing with sensitive accounts receivable (particularly medical and student debt) by emphasizing the importance of customer relationships and context throughout our collection efforts. We're happy to share that NSB performed better than the national average according to CFPB statistics in 2014!
The CFPB is the national consumer watchdog for the financial industry. If a debtor has a complaint about collection agency behavior, the CFPB is where they report it. In 2014 there were 38,751 complaints filed in the United States regarding the behavior of 1,736 different debt collection companies. The national average in 2014 was 11.7 complaints per organization with a high of 2,470 unique complaints. Complaints by industry were highest with credit card debt collection.
If you are interested in more debt collection data, you can export reports directly from the CFPB by visiting their website. Thank you to all of our customers for choosing National Service Bureau in 2014 and we look forward to another successful year in 2015!