Now collectors in the USA have the right to write to you about debts through social networks

Debt collectors have many ways to contact you, but now the Consumer Financial Protection Bureau (CFPB) has added one more for them: social media. The publication spoke about this in more detail. USA Today.

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Don't worry, debt collectors won't be able to comment on your posts or post anything for everyone to see. But now they can send you private messages on social media.

Collectors must clearly identify themselves and must provide you with a way to opt out of receiving their message.

Changes to integrate modern technological communication methods into CFPB have been under development for over a year. In October 2020, Kathleen Kreninger, then director of the CFPB, announced on her blog that the agency was empowering debt collectors.

“Advances in technology, in particular, have changed the way we communicate,” Kreninger said at the time. “But debt collectors and consumers are caught in a time warp. They were required to communicate with each other according to the standards adopted by Congress in 1977.”

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In addition to social media, debt collectors can use phone calls, email, text messages, and letters to communicate with consumers.

While collectors have multiple mechanisms at their disposal, the Fair Debt Collection Practices Act 1977 prohibits harassment, abuse, and unfair collection practices, as well as false and misleading claims.

The CFPB Debt Collection Rule prohibits collectors from calling more than seven times within seven days or within seven days of calling you about a specific debt.

However, there is no limit in CFPB rules as to how often a debt collector can contact you via text messages, email, or private messages. It only says that they are required to provide you with the option to unsubscribe.

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Debt collection is a multibillion-dollar industry with more than 8000 firms operating in the United States. The Federal Trade Commission warns that while many debt collector contacts are legitimate, it's a good idea to be wary of debt collection scams.

Callers may turn out to be fake collectors, they will refuse to provide you with their mailing address or phone number, they will try to scare you and force you to pay by threatening to report to law enforcement.

The CFPB insisted that consumers have rights when dealing with collectors. Keeping this in mind can help identify fraudsters and prevent harassment.

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