By Rob Sutter
It seems like the gates of social media have been opened and the debt collecting industry has passed through them. As reported on the Huffington Post website, a woman named Royette Fischer has filed a suit Medicredit. Supposedly, the story goes that a debt collector working for Medicredit has gathered information from Facebook and Twitter in order to manipulate the debtor, Fischer in this case, to pay up. While every debt should be paid, was the use of social media truly necessary in commercial debt collection?
This could very well be a case where the debt collector doesn't act in a moral way. Strong collection agencies such as Rapid Recovery do work in the right way, acting fairly towards both parties in order to come up with a sensible solution. It would be true if it was said that there weren't a few bad eggs amongst the commercial debt collection business. Certain collectors may go out of bounds when seizing a debt and, as a result, risk legal trouble. The rules which debtors and collectors alike can keep track of are seen in the Fair Debt Collection Practices Act.
Even when everything is not entirely fair in the debt collecting world, you should be certain that a collector has no obligation to back down. Collectors are allowed to go after a case once debts amass to great amounts. One such example is if a college graduate starts to pay off loans and then suddenly stops for several months after. Yes, a collector should make note of the rules that are set in place, but to simply act timid instead is not right.
It's not difficult to understand why social media has been taken advantage of by these dishonest collection companies. Social media is a great platform to conduct business by since it is simply a monster. Facebook and Twitter aren't just for talking to friends and family members anymore since businesses have taken to them as well. Whether a company is world-renown or only locally known at the time, engaging fans and spreading their names are vital acts to carry out. How Medicredit seemed to utilize it, though, wasn't necessarily the proper way.
I've learned that when it comes to news stories about debt collecting, you're not always going to take the side of the debtor. Some people might believe that the debtor should have paid what was owed in a timely manner and not complain about it. Others stay true to the idea that debt collecting, as a whole, is a business that should go away forever. Whatever the case may be, the rules for commercial debt collection businesses have to be followed and it's hard to defend Medicredit's misuse of them.
This could very well be a case where the debt collector doesn't act in a moral way. Strong collection agencies such as Rapid Recovery do work in the right way, acting fairly towards both parties in order to come up with a sensible solution. It would be true if it was said that there weren't a few bad eggs amongst the commercial debt collection business. Certain collectors may go out of bounds when seizing a debt and, as a result, risk legal trouble. The rules which debtors and collectors alike can keep track of are seen in the Fair Debt Collection Practices Act.
Even when everything is not entirely fair in the debt collecting world, you should be certain that a collector has no obligation to back down. Collectors are allowed to go after a case once debts amass to great amounts. One such example is if a college graduate starts to pay off loans and then suddenly stops for several months after. Yes, a collector should make note of the rules that are set in place, but to simply act timid instead is not right.
It's not difficult to understand why social media has been taken advantage of by these dishonest collection companies. Social media is a great platform to conduct business by since it is simply a monster. Facebook and Twitter aren't just for talking to friends and family members anymore since businesses have taken to them as well. Whether a company is world-renown or only locally known at the time, engaging fans and spreading their names are vital acts to carry out. How Medicredit seemed to utilize it, though, wasn't necessarily the proper way.
I've learned that when it comes to news stories about debt collecting, you're not always going to take the side of the debtor. Some people might believe that the debtor should have paid what was owed in a timely manner and not complain about it. Others stay true to the idea that debt collecting, as a whole, is a business that should go away forever. Whatever the case may be, the rules for commercial debt collection businesses have to be followed and it's hard to defend Medicredit's misuse of them.
About the Author:
Visit Rapid Recovery Solution, Inc. if you're looking for more information on full services debt collection businesses.
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