FTC Reports Debt Collectors Are Top Consumer Complaint

The Federal Trade Commission released its annual top consumer complaints list, with debt collectors topping the list.

The number of complaints turned out to be more than 140,000 in 2010, from less than 120,000 in 2009, according to Alabama news provider The Birmingham News.

Recently, debt collection calls have been at, or near the top of the list of complaints, making up 27 percent of all discrepancies, the news source said. In spite of the negative publicity, some in the debt collection industry are defending themselves.

"It is very challenging collecting debt, but we take complaints seriously and take steps such as monitoring calls to ensure that our collectors treat consumers fairly," Martin Sher, co-chief executive officer of AmSher Receivables Management, told the news source.

Sher also cited the economic downturn for the rise in complaints, adding that he was not surprised by the results of the FTC's survey.

Consumer debt relief is an important topic in the wake of a recession, and consumers who have credit card problems could be better served dealing with their lending companies, if they cannot avoid debt.