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The US agency enacted new rules this week that allow debt collectors to contact Americans on social media and text message.
The rule from the Consumer Financial Protection Bureau opens the door for people with loans to be taken over by other people.
Critics say the messages could be lost online or lead to invasions of privacy.
The change is a simple update to rules that were created in the 70s.
The change was approved by the CFPB last year and it means that you can't post on your public-facing page if you want to contact the defaulters privately.
Consumers can opt out of these messages, but they don't need permission to contact people. There are no rules about how many messages they can send.
The Fair Debt Collection Practices Act, which regulates the industry, became law in 1977 and was the reason for the change.
A new limit for phone calls is created by the rule. Seven calls a week can be made for any debt, but people with multiple debts may still be called a lot.
Debt collectors can only speak to consumers about a specific debt within a week.
The change is a small step forward in modernising communications with consumers, according to the CEO of the debt collector trade group.
Critics say the option creates new ways for people to not communicate because they don't have constant internet access. Private messages about late bills could still be sent to the wrong person.
The rule could affect tens of millions of people because around one-third of Americans who have had a credit report have a debt that has been sent to a collection agency.
Social media.
Personal finance.
Personal debt.
The United States.
