Thursday, November 18, 2010

Debt and Social Media

I have recently heard a number of stories about a new weapon in the debt collector arsenal, social media.  Think about all the information that is now shared online via Facebook and Twitter. A great way for that debt collector to find out more information on your current situation, where you going, eating out, buying something new, posting recent vacation photos etc.

Just think of all the status updates you provide and how they could relate to your financial state. If you have outstanding debt and are not current on it, it’s probably not a good idea to be showing off a new purchase on Facebook. It’s a simple rule, that any of us with kids have discussed, be careful what you post online, potential employers may see it, colleges, friends, etc. It’s really about common sense and protecting one's own privacy. Make sure you check privacy settings on any of the social media application that you make be using and think about what you are posting before you click submit.

Have you ever posted something online that you regretted?

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