‘Debt Collectors Social Media’ such as Facebook is another platform on the Internet these debt collectors use to keep you in debt. Any Debt Collector by the Debt Collectors Social Media can now legally text, email, and message you on their Debt Collectors social media sites to harass you into paying your debt collectors alleged debt, but they must be private communications.
This Debt Collectors Social Media rule by the Consumer Financial Protection Bureau’s former president Kathleen L. Kraninger, also clarifies restrictions on how debt collectors can contact you, as defined by the Fair Debt Collection Practices Act, FDCPA. Notice how these foreign-sounding names are at the head of all corporations, even the organizations that are supposed to protect and help you, the American consumer?
Collectors must clearly identify themselves, only send private messages and as part of their message, offer an opt-out option for receiving further messages when reaching out through social media, email or texts. Let us kill the ‘Debt Collectors Social Media’.
By adding emails, texts, and social media as ways of communicating with borrowers, the new rule only makes it easier for debt collectors to harass people, even with the opt-out option. ‘Debt Collectors Social Media’ should be illegal, but you do have a chance to “OPT-OUT”. Despite these FDCPA protections, consumer advocates argue that the new rules expose people to increased harassment from unscrupulous lenders.
Plus, it’s not yet clear how the opt-out options will work, or how to differentiate them from possible phishing scams. The ‘Debt Collectors Social Media’ proves to be very dangerous to presumed borrowers. The FTC already cautions against clicking on hyperlinks in unsolicited texts, emails, and social media messages, and recommends independently verifying that the sender is legitimate.
Knowing your rights as a borrower is the main thing. Debt collectors are required to provide the following information when requesting payment for outstanding debt, according to the CFPB. The Consumer Financial Protection Bureau, CFPB, is a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.
Any debt collector who contacts you claiming you owe on a debt is required by law to tell you certain information about the debt.
That information includes:
1. The name of the creditor
2. The amount owed
3. That you can dispute the debt
4. That if you don’t dispute the debt within 30 days the debt collector will assume the debt is valid
5. That if you dispute the debt in writing within 30 days the debt collector will provide verification of the debt. The only verification of debt is the original contract establishing the debt.
6. If you request the name and address of the original creditor within 30 days, if different from the current creditor, the debt collector will provide you that information.
If the debt collector doesn’t provide the above information in the initial contact with you, the debt collector is required to send you a written notice including that information within five days of the initial contact.
For more on your rights as a consumer, check out these guidelines. If a collector is harassing you, submit a complaint with the CFPB online or by calling 855-411-2372, as well as with the Federal Trade Commission online or by calling +1-877-382-4357 You can also report them to your state’s attorney general.
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