The Office of Fair Trading (OFT) have today released their updated debt collection guidance which warns debt collectors against pursuing those who owe them money via social media websites such as Facebook and Twitter.

Under the guidance, the warning appears under ‘Physical/psychological harassment’ which incorporates ‘disclosing or threatening to disclose debt details to third parties’ and ‘acting in a way likely to be publicly embarrassing to the debtor’.

The OFT have given an example of ‘posting messages on social networking sites in a way that might potentially reveal that an identifiable person is being pursued for the repayment of a debt.’

The OFT’s director of consumer credit, David Fisher commented: “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.”

Debt collection agencies who are found breaching the updated guidance risk having their consumer credit license revoked.

If you find you are struggling with debts and are in need of personal/business debt help or are experiencing creditor harassment, please contact The Business Debt Advisor on 0800 848 8036 or complete our contact form and a

member of our team will give you a call.

Alternatively, should you need assistance with budgeting, The Business Debt Advisor have a handy solution finder which is an invaluable tool to help you regain control of your finances.