The Power Behinds the Computer
What is happening in this front?
It is not simply the social media websites that the overzealous debt collectors use so as to get information about the debtors. They also create fake id’s in the different social media websites so that they can collect more detailed information regarding the debtors and their whereabouts.
Last year (2011), in the month of April, the FTC or the Federal Trade Commission had hosted a workshop attended by the government, the collection agencies and also the consumer groups. This workshop was about the new technologies and how these new developments are creating problems for the legal debt collectors and consumers at the same time.
In fact, according to reports, FTC has decided to develop a committee that deals specifically with the debt collectors and their improper usage of social media. However, FTC is still reading through the complaints of the consumers and debtors for better analysis. This analysis may help them to take the right step towards handling the illegal practices practiced by the overzealous debt collection agencies. The Consumers Union along with the other consumer groups are of the opinion that FTC should inevitably come up with some new rules and guidelines. This may help ease off the extreme pressure that the debtors are required to face while trying to pay off their debts to the debt collection agencies.
On the other hand, some of the collections industry executives are of the view that FDCPA is enough to help the debtors. They argue that the present debt collection guidelines which are there in place can also be applied to social media problems. The FDCPA or the Fair Debt Collection Practices Act which governs the practices of the debt collection industry, thereby making the provisions designed so as to prevent the debt collectors from completely harassing the debtors.
Like, as per FDCPA, the debt collectors aren’t supposed to lie in order to collect debt. They are not supposed to impersonate as another person and so on. Thus, FTC can apply FDCPA to the social media usage by the debt collectors. This may help prevent the debtor harassment and illegal practices by the debt collectors over social media websites.
Author: Kavin Matthews is a financial writer who has expertise in dealing with financial issues. He loves to contribute financial write ups to websites and blogs so that he can help people who are struggling with financial worries. To know more on ways in which you can get out of any kind of debt obligations, you may visit http://www.facebook.com/debtconsolidationcare
