The new Acting Director of the Consumer Financial Protection Bureau is signaling what I’ve been going on about for years when it comes to debt relief companies.
Regulators want everyone to just deal with the consumer complaint in a professional way. See my post How to Handle a Consumer Complaint Like a Pro And Come Out Smelling Like a Rose.
CFPB Acting Director David Uejio has said, “One of Uejio’s top priorities is ensuring that consumers who submit complaints to the CFPB “get the response and the relief they deserve. Consumer complaints are [the CFPB’s] lifeblood; [they are the CFPB’s] direct connection to consumers in distress, and they are at an all-time high right now.”
The article goes on to say “In noting his understanding that some companies “have been lax in meeting their obligation to respond to complaints,” Uejio warned that it is the CFPB’s expectation that “companies provide substantive responses that address the issues consumers describe in their complaints.”
And as a further clue that how a debt relief company responds to a consumer complaint will paint a picture of the character of the company, “The message here is clear: CFPB consumer complaints should not be treated as second-priority items. Companies responding to a CFPB consumer complaint should treat those responses as they would any communication to or with a federal agency by providing a complete and full response or noting specific items that will require more time, why that is, and how long it will take.”
I get it, consumer complaints suck. People are unreasonable or have selective memories. And while it might be unfair to always feel like you are guilty before innocent with regulators, this is just the field that has been built by thousands of scammers before you.
You will find the advice in my post is common sense and a good guide to follow, even though you might not like it.
But here is a presentation by a state regulator that can help explain it from their point of view.
Here is the one key point to remember when it comes to regulators and complaints, they want it resolved and off their desk with a happy consumer.
You can be right or you can be off the radar. The choice is yours.