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Credit Issues Top Nation’s Consumer Complaint List
Posted on August 5, 2011
Consumer complaints are tallied every year and again this year consumer credit issues top the list of what American wants to complain about to the government. So many complaints have been registered with the government consumer agencies, many can not even handle the amount pouring in.
After 31 state and county agencies from 18 states around the country participated in a comprehensive survey, it was found that credit repair firms, debt collection agencies, and credit card companies brought about the second most consumer complaints. In the top spot again are complaints involving vehicle purchases.
Some analysts say that due to the recession and consumers overall financial strains, it is not surprising credit repair and credit card complaints are still high on the complaint list. Consumer advocates cite this reason as an obvious sign that more consumer protection initiatives and laws need to be enacted.
However, working on solutions for the mass of consumer complaints is proving to be difficult. Since spending cuts have reduced the workforce at the consumer protection agencies, there is not enough manpower to handle the amount of complaints coming in. For instance, a Fort Lauderdale, Florida agency has stopped handling complaints that relate to credit card sales over the Internet or consumer disputes that range under $200.
Consumer advocates are urging governmental agencies to consider the need for increased consumer protection especially where credit repair and debt issues are concerned when officials work on their budget. The advocates believe that the public services these agencies provide are as vital as police departments and fire personnel.
The survey of consumer complaints was sponsored by the National Association of Consumer Agency Administrators, the Consumer Federation of America, and North American Consumer Protection Investigators and was completed during March and May 2011. The results are reflective of 2010 complaints and include some 2011 data.
Image credit: flickr

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