Remember the paper boy in Better Off Dead -- the psycho tyke who chased John Cusak around, demanding his two dollars? Yeah, we all laughed about the little dude's persistence, but truth of the matter is, creditors like that kid make their living by being tenacious, tracking down borrowers wherever they are. And where they are these days is on social media sites like Facebook and Twitter.
Earlier this summer, there were numerous accounts of lenders using Facebook and Twitter to determine the creditworthiness of loan applicants. According to those reports, posting a Facebook update like, "I just got fired!" or "I'm heading to Vegas to blow my inheritance!" could cause creditors to ratchet up your loan rate. In some instances, it might prevent you from scoring a loan at all.
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