"guilty by association" another reason to avoid Facebook

[jeff of pa]

As more and more people post their lives on Facebook and increase their friend base, they could be decreasing our chances of getting a loan. Douglas Alexander, president of Alexander Financial Services in Henrico says some start up lenders like Lenndo, Kreditech, and Kabbage are now using Facebook to decide if you get that loan.
He says they're clicking onto friends lists for information.
"There are some startup companies that are using social data to judge if someone should qualify for a loan," he says. "They are checking everybody out to see if they are late or delinquent on payments."
And with each friend they scroll through they're looking for missed payments with PayPal, eBay, Amazon and other online accounts.
And if they find your friends haven't paid up it could be a strike against you.

http://money.cnn.com/2013/08/26/technology/social/facebook-credit-score/index.html

 

[Chadeaux]

I absolutely LOVE facebook as a financial tool. People are stoopid, and I just love it.

Setup a phony account with a pretty girl's pictures for the guys (Poser software makes it possible without threat of being sued for using someone's likeness ... just use a bit of anti aliasing and airbrushing the girls look "magazine ready"), or add a phony account for a wealthy, good looking guy for the girls, and they'll tell you their deepest, darkest secrets. Where they live, where they work, who their family is ... then I can get my papers served quickly and painlessly. Cheaper than using credit headers, and usually more accurate.