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Debt Collection

FOS complaints against debt collectors fall

By CreditMan Thursday, May 26, 2016

Complaints made against debt collectors have fallen over the last 12 months, according to the latest figures from the Financial Ombudsman Service (FOS), as firms continue to give even greater priority to identifying and understanding all expressions of dissatisfaction and resolving issues at source.

The number of complaints for the period March 2015 – March 2016 fell from 843 to 707, a drop of 16%, and was welcomed by the President of the Credit Services Association (CSA), Leigh Berkley: “Our members today have better systems for recording and analysing the root causes of complaints and this is having a direct impact not only in improving levels of customer satisfaction but also on the number of complaints that are elevated to the ombudsman.”

The positive news contrasts starkly with complaints raised against other parts of the financial services sector and notably Pay Day Lenders (short term loans) where complaints rose by 178% for the same period.

http://www.csa-uk.com