Collection Agencies Are Turning To Social Networking Sites Too!

Filed in archive Debt Collection , Debt Collection Agencies , Hunting Debtors on July 25, 2010

© Todd Barnard

Imagine this: you have debts and you have not paid it yet. Maybe you have managed to ignore the Debt Collectors' letters in the mail and have successfully evaded their phone calls.

You think they can't find you?? They will. Eventually! And when you least expect it...

How?

One keyword is Facebook. If you are in the above-mentioned situation, you have to be careful in what you post on your Facebook profile and in other social networking sites. Why? Because Debt Collection Agencies are now turning to social networking sites to hunt down the debtors and look for more information about them!

According to Marc Davenport- president of RMI Consulting - a Houston commercial debt collection firm: "It is an important tool. We do it because information is power."

Here's one example:

Davenport recalled a businessman who failed to pay a $17,500 debt. The man claimed his business was in the tank and he was filing for bankruptcy. But pictures he posted on Facebook said otherwise. He showed off his new Corvette and a picture of himself on a boat fishing off Florida's coast, images that didn't add up to him being broke, Davenport said.

"He was boasting and bragging about it to all his friends," Davenport said. "When we told him the information we had, I thought he would drop dead of a heart attack."
Busted, the man paid his bill in full.

See?? You can run...but you can never hide. Certainly not on the internet!