Debt Collectors Can Use Social Media To Contact You In 2021

You have 1 year to clean up your debt collection issues. According to Consumer Reports, a new rule from the Consumer Financial Protection Bureau (CFPB) will allow debt collectors to contact consumers via email, text message, and social media platforms. The ruling would permit collectors to place up to seven debt-collection phone calls per week with an unlimited number of attempts through messaging platforms as well as email.

Nearly 1 in 4 adult Americans (about 70 million people) who have a bill in collections at any given time, according to the National Consumer Law Center. And it could have a significant impact on the estimated 18 million who have more than one bill in collections. Meaning a consumer could receive multiple contacts a day from multiple collectors. Data shows that 45% of people who live in predominantly Black or Hispanic areas have debt currently in collections. Compared to 27% of people living in predominantly White areas. To Read More Click Here

Source: Black Enterprise

Source: Consumer Reports