Debt collectors turn to Facebook

11/05/2009

Debt collectors are embracing modern technology and using tools like Facebook to track down debtors.

Borrowers in the US have been warned that some debt collection companies are making profiles and sending friend requests to customers.

Credit and Collection News has highlighted that the practice is potentially illegal and can be compared to harassment.

The practice also relies on deception, as debt collectors often avoid revealing their identity until after a friend request has been accepted.

Although just recently highlighted in the US, the trend could spread to the UK as banks and lenders seek to target debtors to cope with the growing pressure of the recession.

CreditExpert recently warned Brits of other dangers associated with Facebook and highlighted the risks posed by posting personal information on the internet.

"Social networking sites like Facebook and MySpace are a magnet for identity thieves seeking innovative ways to source credit information from their potential victims," the fraud protection service said.

Tags; Debt Management and Banking,

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