Sunday 31 July 2011

The Use of Social Networking in Debt Collection

Now a day’s people don’t just write a letter or pick up the phone get in touch with someone. They have several new options with the technological advances in communication including email, social networking sites, blogging, text messaging etc. Debt collection agencies are taking advantage of these social networking sites like Facebook, MySpace and LinkedIn to locate debtors. Debt collectors are using these websites to locate debtors they could not track through phone directories and other resources. Although they have this new resource, debt collectors must still comply with the Fair Debt Collection Practices Act (FDCPA).