News broke and the girls went wild…Debt collectors can now contact you on social media? Whoa! Now, of course, we’re aiming for a debt free life – truth is, some of us aren’t there yet (we’re working on it) and we don’t need the collectors invading our digital space.
“We are finally leaving 1977 behind and developing a debt collection system that works for consumers and industry in the modern world,” Kraninger said in a blog post.
The The Fair Debt Collection Practices Act (FDCPA) Rules:
01. Social Media
Yes, debt collectors can contact you on social media. But… “They can’t leave messages on your posts but they can DM you and send you a friend/follower request” Shelley says.
So in other words, be careful who you’re accepting.
Let’s be clear, you also have the option to opt out. If you don’t want Credit Acceptance sliding in your DMs – pick up the phone and opt out.
“If you speak to the debt collector, they can’t contact you again for 7 days,” Shelley explained, “..and can’t call you more than 7x in a week”. You know those people that keep calling and keep calling – well, it’s against the rules. Major key – you have to speak to them – so don’t ignore the debt collector like you ignore that boy you don’t want to go out with – Talk to them, so they can stop calling. Mmkay.
Shelley stated, ” Now, debt collectors have to inform you of a collection BEFORE they place an account on your credit report and give you time to respond. This can be via phone call, snail mail, email or text”
Well, that a plus. There has to be open communication not only do you have to answer when they call – but they have to be upfront with you too. No more surprises on that credit report.
“Consumers in the collections process deserve to be on a level playing field with others in the financial services marketplace” Mark Neeb, CEO of ACA International, a trade association for debt collectors, said in a statement.
So, see – it’s not all so bad.
Debt collectors have the option to DM you BUT you have the power to opt my friend.