Millennial Money: Watch for debt collectors, scams on social

By LAUREN SCHWAHN of NerdWallet

The next time you check your DMs, you could see a message from a debt collector. Late last year, the Consumer Financial Protection Bureau rolled out new rules that allow debt collectors to contact debtors through social media. While the rule changes outline how these communications should work, consumer advocates worry it could still create confusion and invite scams. So what can you do to protect yourself from unfair debt collection tactics and scams on social media? Learn to identify red flags, know your rights as a consumer and report any violations.