Social networking sites being targeted by debt collectors

Whilst we all consider social networking sites like Facebook and Twitter to be associated with the entertainment, communicating with friends, or simply making comments to let others know your thoughts, there are some people that use them for strictly business purposes. This includes those that want to find out information or try and make contact with people for something more than just adding them as friends!

It has been revealed that in some cases debt collectors have been targeting people that owe money through the use of social networking sites, posting messages on these popular sites. However, officials are concerned that people could soon find embarrassing and confidential details about their debts and finances making their way onto the Internet if this practise continues. There are concerns that messages posted on these social networking sites by debt collection firms could be seen by friend, family and even work colleagues of the person that the message has been left for.

With this in mind the Office of Fair Trading has now warned the debt collecting industry about using these social networking sites to contact people that owe them money. The OFT has now updated its guidelines with regards to debt collecting firms, which were last updated in 2006. The debt collection industry has also been warned about contacting people at locations that are deemed inappropriate such as hospitals.

An official from the OFT said: ‘In the present economic climate, with many people, including those who may be particularly vulnerable, in financial difficulties, it is crucial they are treated fairly by companies recovering their debts. This updated guidance makes clear the standards the OFT expects of all businesses involved in debt recovery, including debt collectors, banks and law firms.’

Tags: whilst, Technology Internet, twitter, official, debt collection firms