Tired of having debt collectors inundating your mailbox and voice mail?
Get ready for them to start contacting you via text, email and social media.
There might not be an emoji angry enough to show your reaction to that news.
The Fair Debt Collections and Practices Act (FDCPA) hadnt been updated since 1977.
In our digital age, that meant we were largely protected from having debt collectors harass us online.
Previously, these debt validation anddebt verification lettershad to be paper and mailed the old-fashioned way.
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The CFPB under the Trump administration sided with the debt industry over arguments from consumer advocates on this issue.
This gets even more confusing for consumers because debt validation letters can now be provided electronically.
But just because a debt collector sends an email doesnt mean youre stuck receiving endless messages.
Bear in mind that this communication must be in writing telling them over the phone wont do.
And theres no mention about a limit for the number of contacts when it comes to electronic communications.
Again, see to it this request is made in writing.
But it also potentially opens up the door for scammers.
Thats a little more alarming.
There are privacy issues when you start talking about social media as a communications tool for debt collectors.
That seems reasonable, but people who are overdue on debts rarely owe on only one account.
You may also have additional consumer protection rights depending on which state you live in.
it’s possible for you to find out more by heading to yourstates attorney general website.
She is a regular contributor to The Penny Hoarder.
Information from Penny Hoarder writer and editor Tiffany Wendeln Connors is included in this report.
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