(NewsNation Now) — New rules implemented by the Consumer Financial Protection Bureau on Tuesday, November 30 now allow collection agencies to email, text and direct message people on social media to track you down about outstanding debts.
However, there are limits. Debt collectors don’t need your permission to reach out but they must identify themselves and give you a way to opt-out of being contacted online. The messages also must be private. For example, debt collectors can message you on Facebook but cannot post on your public page or any other place it can be seen by your contacts.
The rules clarify that before a collector reports a debt to a credit rating agency, they must attempt to speak with the borrower in person or wait at least 14 days after sending a letter or virtual communication, including social media contacting, before reporting.
The CFPB said the change “clarifies how debt collectors can communicate with you, including what information they’re required to provide at the outset of collection about the debt, your rights in debt collection and how you can exercise those rights.”