Every year, the Federal Trade Commission releases their annual summary of consumer complaints. This is a report on the categories that received the highest number of complaints from consumers. For 2016, 3.1 million complaints were reported first to the Consumer Sentinel Network before the FTC sorted them into 30 separate categories.
FTC Annual Summary of Consumer Complaints
The number one complaint in 2016 from consumers was debt collection. It received 859,090 total complaints throughout the year, which was 28% of all complaints. Impostor scams passed up identity theft for the first time as the second most common category of consumer complaints. Reaching a total of 406,578 complaints, it made up 13% of complaints. Identity theft also made up 13% of complaints, but instead had 399, 225 complaints.
The rise in impostor scams is said to be due to an increase in reports of government impostors. While impostor scams come in many forms, they all work the same way. A scammer pretends to be somebody trustworthy to get the consumer to send money. Impostor scams topped the list of military consumer complaints, which was followed by identity theft complaints.
Twenty-nine percent of the consumers who complained of identity theft reported it as being used to commit tax fraud, while more than 32% of consumers reported it as being used for credit card fraud. The most common method of payment for those who lost money to fraud was by wire transfer. Fifty-eight percent of people lost money this way. Of those people, 77% said they were first contacted by phone. The FTC says to “be wary of any caller asking for a wire transfer.” Government agencies will never ask anyone to wire money and it’s illegal for telemarketers to ask you to pay by wire. If you do receive a call from a government agency, call them back on a number that you do know belongs to them. Do not call the number someone left you on a voicemail or gave you over the phone.
Is there more you would like to know about the FTC’s Annual Summary of Consumer Complaints? Let us know! To enlist the help of a trustworthy, effective credit repair company, call us today at 1-866-991-4885!
No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.
We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.