The office of fair trading is warning debt collectors to stop targeting people who owe debt over Facebook and twitter. Its sharing embarrassing details of financial difficulty online. The Financial Ombudsman have received 357 complaints from April to September. The complaints consisted of harassment by the debt collectors, being chased for debts that aren't even owed or being chased for a debt when a repayment plan has been put into place with the creditor.
The office of Fair trading has recently published a more updated debt collectors guidance in order to set out standards that are expected from these people.
David Fisher, the OFT's director of consumer credit, said: "In the present economic climate, with many people, including those who may be particularly vulnerable, in financial difficulties, it is crucial they are treated fairly by companies recovering their debts."
There is also a worry about privacy on Facebook and Twitter as friends and business contacts can sometimes see messages being sent. Debt collection agencies tend to receive money by posting through the letterbox or leaving phone messages which may have been picked up by other family members. Debt collectors seem to view the internet as another place to get money.
What do you think? Should debt collectors be informing people about their outstanding payments?
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