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Are Creditors Looking at Your Social Media?

Apparently.  Information shared on social media is now being used more and more by financial institutions to build a credit worthiness profile for consumers.  As if consumers didn’t have enough to worry about with debt, carrying too many credit cards, and keeping up with bills, now they must also be concerned about how they appear on social media to creditors.

http://www.post-gazette.com/business/2014/02/14/Financial-institutions-are-using-social-media-to-build-credit-profiles/stories/201402140059

Creditors want to know more and more about applicants for credit and social media can be very telling.  Websites like Facebook, Twitter, and Match.com provide details into an applicant’s lifestyle and behavior.  In addition to financial institutions, lawyers, and collection agencies use social media to track down consumers in debt.  In general, it seems information found on social media can only hurt the consumer and never help.  Therefore, if you are a consumer in debt, contact a qualified debt settlement attorney.  A qualified debt settlement attorney can help consumers navigate the finance world and work to settle the consumer’s debts for a fraction of the balance.  This will not only get the consumer out of debt, but ultimately improve the consumer’s credit score.

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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.