If you thought the spam calls lately were out of control, this time next year debt collectors will be able to text, email, or contact you via social media.
The Consumer Financial Protection Bureau (CFPB) last month changed its debt collection rules to allow debt collectors to contact debtors via text, email and messenger platforms on social media.
According to the final rule, debt collectors will be able to contact consumers up to seven times per week by phone, and as much as they’d like through text message, email, and private messages on social networks.
The rule, however, requires debt collectors who communicate electronically to offer the consumer a “reasonable and simple method to opt-out of such communications at a specific email address or telephone number.”
“With the vast changes in communications since the FDCPA was passed more than four decades ago, it is important to provide clear rules of the road,” said Consumer Financial Protection Bureau Director Kathleen L. Kraninger. “Our debt collection rulemaking provides limits on debt collectors and provides clear rights for consumers. With this modernized debt collection rule, consumers will have greater control when communicating with debt collectors.”
The changes are set to go into effect next October.