CONBlog 02162022

New Debt-Collection Rules: What They Mean for Consumers 

For one thing, they allow debt collectors to contact you on social media, according to reuters.com. Notes the article:

But they have to let you know who they are.

If you recently got a text, email or social-media message from a debt collector, here’s one of the first things you should do: Make sure you know your rights. New Consumer Financial Protection Bureau rules, which took effect Nov. 30, clarify how debt collectors can use modern communication methods such as email, text messages and social media to communicate with consumers, among other things.

Debt collectors can now contact you via email, text messages and social media, as well as traditional forms of communications such as telephone call or postal mail…Debt collectors must identify themselves as such.

Also, any messages they send have to be private—so they can’t broadcast your debt on your Facebook or Twitter feed, for instance. They can, however, attempt to friend you on social media, provided they let you know they are debt collectors. They must also give you the option to opt out of these communications.

Debt collectors who violate allowable practices are subject to enforcement by the Federal Trade Commission and may also be held accountable for state-law violations.

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