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Brandon Blog Post

COLLECTION AGENCIES NOT SO SECRET SOCIAL MEDIA TRICKS

debt, collection agencies, social media, social media sites, Facebook, Google Chrome, Marauder’s Map, InstagramDon’t say anything online that you wouldn’t want plastered on a billboard with your face on it.

Erin Bury

Collection agencies have internet access too

So true! Once something is out there in cyberspace you can’t get rid of it. There is no delete button. Therefore, it can be no surprise that collection agencies are using social media to track debtors. The amount of personal information that we give up on social media sites is shocking.

Collection agencies can read social media postings

Did you know that Facebook tracks the location of all of your messages? Facebook’s Messenger app uses location data. And, with a Google Chrome extension called Marauder’s Map, a person’s exact location is revealed if their location settings are enabled. Instagram also collects specific data about users’ locations based on where they post images.

It’s no wonder that collection agencies have realized the value of social media in tracking down debtors. “Normally, collectors use social media to locate people or see if there are any assets that might be collectable,” notes Joel Winston with the Federal Trade Commission.

Collection agencies look to see if your social media backs up your story

Before you go ahead and post information on any of the social media sites, stop and think first. Posting photos of your recent trip to Tahiti while you’re pleading poverty to the debt collector is never a good idea. Remember that every time you post an item on a social media site you’re giving up personal information.

What to do if collection agencies are hounding you

If you’re been chased by collection agencies you need professional help and you need it now. Contact Ira Smith Trustee & Receiver Inc. today. There are a variety of options we can discuss including a bankruptcy alternative like credit counselling, debt consolidation or a consumer proposal or bankruptcy, if ultimately that’s the best course of action for you. Starting Over, Starting Now you can be on your way to living a debt free life.

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Brandon Blog Post

CANADA REVENUE AGENCY SOCIAL MEDIA

Canada Revenue Agency, CRA, CRA audit, social media, social media sites, Facebook, LinkedIn, Instagram, Pinterest, trustee, income tax debt, debt, trustee, starting over starting now, Canada revenue agency social media, receiverCanada Revenue Agency social media investigative staff review your latest photos and news on social media sites that you post to. Did you know that? If you do post to social media sites and you did not know that Canada Revenue Agency social media investigative staff may be looking at your postings, then you’re like most of the adults online.

Sharing everything from your marital status to what you’re eating at a restaurant on social media sites has become second nature. We have a great need to share, without giving it a second thought. According to Pew Internet Research, as of September 2013:

  • 71% of online adults use Facebook
  • 17% use Instagram
  • 21% use Pinterest
  • 22% use LinkedIn

You may think that participating in social media is a harmless activity and you may even post some white lies, but after all, the Internet encourages creativity. And, who could it hurt anyways? The answer is you! It’s not just your friends checking out your Facebook page, the Canada Revenue Agency (CRA) may be checking you out as well. The Canada Revenue Agency social media investigative staff use an audit technique called Indirect Verification of Income.

The CRA is on the lookout for folks living a high income life – big house, fancy cars, and exotic vacations – without reporting the income to sustain such a lifestyle. This kind of behaviour is a huge red flag for the CRA and you could be in for an audit. Rest assured that the CRA, including the Canada Revenue Agency social media investigative staff which is an increasingly important component of the investigation side, will leave no stone unturned in search of the unreported income.

We had an interesting file that demonstrated exactly how deep in trouble you many find yourself if you post everything on social media sites, and lie. A high income earner was trying through a Proposal to compromise $400K of his income tax debt (amongst others). Throughout his entire professional career he had photos of himself in front of yachts, mansions and fancy cars to show how successful he was. The only problem was that none of it was ever his. It took a year to convince the CRA that neither he nor his spouse ever owned such assets!! Ultimately we were successful in satisfying CRA’s concerns and the CRA voted in favour of his Proposal.

Before you post your life story on social media sites, ask yourself what the Canada Revenue Agency social media investigative staff will think if they crawl your pages.

If you’re having serious financial issues related to income tax debt or any other cause, contact Ira Smith Trustee & Receiver Inc. With a solid financial plan in place Starting Over, Starting Now you can free yourself of debt.

Call a Trustee Now!