Should I Use Social Media To Reach Consumers?
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According to the FDCPA, agencies are allowed to communicate with consumers through “any medium.”
The CFPB realizes that there are generations who prefer to communicate via social media, even on matters like debt collection.
Tim explains how social media can fit into your omnichannel strategy below.
How Should You Use Social Media For Debt Collection?
If you want to use social media for debt collection, there are two prerequisites to start building now:
- Design policies and procedures. What can be said? Who will be responsible for responding?
- Build a process to use social media. What will be the protocol for when you receive a negative review on social media? What if someone posts publicly on your company’s Facebook page?If you open up the door for consumers to have access to you via social media, be ready for them to access you that way – even if it’s in a way you don’t necessarily like.At Indebted, they occasionally receive Twitter DMs from their consumers. After the procedures of verification have taken place, they do their best to redirect conversations that take place over social media to more secure channels.
Another piece to keep in mind is that if you are initating the communication, you must use direct messaging functions, you cannot post anything publicly.
The use of social media should always fit into a more consumer-centric strategy, not less.
Consult your own compliance team to make sure that using social media is possible for your specific situation.
This information does not, and is not intended to, constitute legal advice; instead, all information is for general informational purposes only.