Payday Loans Make the Top 10 List of Gripes in Michigan

payday loan complaintsAccording to a recent article in the Detroit Free Press, Michigan consumers list payday loans as well as debt collection practices among the top consumer complaints in the state. Bill Schuette, the state’s Attorney General, shared a “Top 10 Consumer Complaints” listing, based on almost 9,000 complaints that were filed with the AG’s office in 2015.

The list confirms that many people are not alone when it comes to dealing with debt. Regulators use a consumer complaint list to assess areas of abuse or to determine what practices may possibly need stronger regulatory intervention.

The Federal Trade Commission (FTC) received similar complaints last year in the millions. The agency stated that a large number of complaints centered on abusive debt collection practices or identity theft. Among the 48 contiguous states, Michigan, Georgia and Florida were noted as having the most complaints for fraud while Connecticut, Florida and Missouri had the most complaints issued for Identity theft.

The AG’s office in Michigan received 1,137 complaints last year related specifically to financial and credit concerns. These complaints were associated with debt collection practices, mortgage brokering, credit repair, and payday advance companies.

The top 10 complaints in 2015 were listed as follows:

  • #1 – Issues with debt collection, flex loans and similar financial products
  • #2 – Problems concerning wireless communications, cable and satellite TV reception and robocall solicitations
  • #3 – Pricing disputes and quality-of-merchandise disputes with retailers
  • #4 – Used and new car dealer complaints and repair shop issues
  • #5 – Problems with online shopping and phony email solicitations as well as issues with Internet service companies
  • #6 – Dating service issues and problems with beauty shops, fitness companies and home security outfits
  • #7 – Problems concerning landlord and tenant communications
  • #8 – Disputes related to gas service stations
  • #9 – Contractor disputes, including landscaping and construction complaints
  • #10 – Health care issues associated with medical clinics, doctors and dentists

Anyone who has a consumer complaint in Michigan can file a grievance with the Consumer Protection Division of the Attorney General’s office by phone or submit the complaint online. If you live in another state, you can also contact your AG office with a consumer issue, either by phone or on the web.

Speak Your Mind