Auto financiers and collections agencies are seeing an uptick in litigation as social media platforms provide a hotbed of misinformation around debt validation practices. Consumers contesting the validation of debt and alleging harmful practices by financiers are turning to social media for advice on how to do so, while others are using AI to seek legal advice and draft claims against lenders. Lenders are seeing their compliance costs rise as they combat these social media-driven efforts. Videos on social platforms like Instagram and TikTok are circulating suggesting how consumers can: Keep their vehicles despite remaining behind […]
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