Debt collectors can now send you DMs on social media, but they must comply with certain rules
Debt collectors have a variety of ways to contact you, and the Consumer Finance Protection Bureau added a new way for them to reach you: social media.
Don’t worry, debt collectors won’t be able to comment on your posts or write up something for the public to see. But according to a release from the CFPB Tuesday, they now can privately message you on social media.
The debt collectors must clearly identify themselves, and they also must include a way for you to stop receiving their messages, basically providing a mechanism to opt out.
Changes to integrate modern technological communication methods into the CFPB have been over a year in the making. In October 2020, Kathleen Kraninger, director of the CFPB at the time, announced in a blog post that the agency was making upgrades to the capabilities of debt collectors.
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While debt collectors have several mechanisms at their disposal, the 1977 Fair Debt Collection Practices Act prohibits harassing, abusive and unfair debt collection practices as well as false and misleading representations by debt collectors.
The CFPB’s Debt Collection Rule bans collectors from calling more than seven times within a seven-day period or within seven days after engaging in a phone conversation with you about a particular debt.
Michelle Shen is a Money Tech Digital Reporter for USA TODAY. You can reach her @michelle_shen10 on Twitter.