Saturday, November 15, 2014

You Can Run But You Can't Hide From Your Debt



                                                                          

Technology has allowed creditors, debt collectors and some state taxing authorities the ability to search for consumers on the internet use social media networks such as Facebook, Myspace,Twitter, Linkedin and other sites to find consumers.  This seems extreme but it is legal.  

According to the Fair Debt Practices Collection Act, debt collectors can contact your family and friends to find your location or get other personal information such as your address, email address or phone number.  If you posted your contact information including your current employer on your social media profile you may soon be getting emails, phone calls or visits from your debt collectors. What if a debt collector contacted someone who is listed as a friend on your social media profile? How embarrassing would that be?  With the frequent consumer data breaches and lack of strong security protections on Facebook and other social media profiles it is not too hard to find anyone these days.

If you use social media networks and are in debt, you presence on them can increase your chances of your creditors and debt collectors finding you.  The IRS has not confirmed whether they use social media networks to find taxpayers who owe back taxes but I assume they probably do.  However, tax agents cannot friend a consumer who owes back taxes on a social media site but that probably doesn’t stop them from doing it.  Here are some ways you can be found on the internet:


1.      Internet search engines
2.      Motor vehicle records
3.      Chat rooms and forums
4.      Social media networks
5.      Employment records
6.      Tax records
7.      Bank records
8.      Public inquiries at local businesses such as groceries stories, barbershops, church meetings, social and civic meetings, etc.
9.      Posts you made about an article or video or post you made on a website
10.  Credit reports


Contact your creditors and debt collectors before they contact you to setup a payment plan or request a financial hardship.  Follow-up with a letter confirming the agreement and stick to the agreement.  It is better to be safe than sorry.

6 comments:

Gerald Vonberger said...

From your list of bad debts, it sounds like I have quite a few. My bad debt mortgage is really taking a toll on my finances. I like the advice you given for people in my situation. It would be good to get some more advice that is more personalized to my situation. I will definitely start with the tips that you outlined the article, then I'll probably have to find a bad debt mortgage consultant or something. http://www.ralainvestments.com/

Albert einstien said...

I am all time fond of reading the blog, when I reached to this blog I wondered to read such informative article, it inspired me a lot thanks. free credit reports from all 3 bureaus

Albert einstien said...

I am all time fond of reading the blog, when I reached to this blog I wondered to read such informative article, it inspired me a lot thanks. free credit reports from all 3 bureaus

hely fely said...

Thanks for the effort, keep up the good work Great work, the thoughts you state are truly awesome. I expect you will write several more posts. direct payday loan

hely fely said...

Hello! After browsing some amongst the post I felt this is totally new to me. Anyhow, I’m absolutely happy to find this. paydayloans

Herry Pat said...

I really didn’t know all these things before which you have informed us through your best writing. small payday loans