Collecting Debt: Collectors Using Social Networking Sites to Snare Past Due Borrowers

Collecting Debt Has Got To Be One of The Worst Jobs In America
If collecting debt is not the worst job in the USA, it certainly must rank up there with the top five. Think about it; the economy is in a humbling state of affairs at the moment. An unprecedented number of homeowners are facing foreclosure. We are experiencing the highest number of delinquent credit card holders we have ever seen. Unemployment is the highest its ever been in some states. Gas prices are steadily rising. The auto industry, the banking industry and the airline industry are all in a state of flux tittering on crashing.

Every morning we get up and every night we go to bed, some new issue seemingly pops out of the sky as to say, "Have you had enough yet?" We've got to deal with the "Swine flu, e-coli and cookie dough recalls. In some parts of the country we have droughts.

In others parts of the country, rain fall has wiped out essential crops. We've got planes crash landing in the Hudson River and then planes simply crashing. In the midst of all of these issues, Joe Blow comes home, takes off his shoes to get fives minutes of relaxation and then, BAM! Some inconsiderate bonehead calls to say that he or she is collecting debt!

They don't care that Joe Blow went from making $85k a year down to $32k a year. They don't care that Joe Blow has no savings, lost his home and is trying to get his life back on track. They've made it clear; the call is about collecting debt and all of the other things going on in the world and in his life are moot and immaterial.

I'm Collecting Debt For An Account You Haven't Paid On In...
Joe Blow abruptly halts the conversations and demands to know how the debt collector got his number being that it was unlisted and only family members and friends were privy to it. The answer astounds him! Joe Blow is a member of one of the top (SN) social networking websites and a while back he received a "Friend" invite from an attractive woman who seemed genuinely interested in him.

Flattered, Joe responded by providing his contact information and over a short period of time divulged information about himself that he would never reveal to any debt collector. The "Friend" turned out to be a debt collection company that has learned a new twist to collecting debt; the best way to snag past due borrowers is to join their network!

Collecting Debt Goes To New Lows - MySpace or MyBait? Facebook or Facehook?
Social networking (SN) websites hit the scene like the rage of the age! If a person is online, they are more likely than not, to be a part of one or more of the SN sites such as: Facebook, LinkedIn, MySpace, Bebo, Friendster, hi5, Orkut, PerfSpot, Yahoo! 360, Zorpia or Netlog.

These sites are great places to connect up with old buddies and meet new friends. So far so good? Maybe not anymore! Just when we thought it couldn't, debt collecting has stooped to a new low. They are starting to track down past due borrowers using the power of the Internet and openness of social networking.

You Had To Know Debt Collectors Would Stoop This Low!
Per the Federal Trade Commission, the debt collection industry receives more complaints lodged against it than any other industry. This new twist to collecting debt is just par for the course. You can also expect debt collection companies to start using Skype and text messaging to track down past due borrowers.

Is what they are doing legal? It's new territory, so who knows. Suffice it to say, if you receive one of these "Friend" invites and it turns out to be a debt collection company carrying out this ill-conceived collecting debt ruse in disguise, you need to make a "B" line to your Attorney General and file a complaint!