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Bank loan “Tweeticide”?

Posted by Michael Bloch in online world (Tuesday May 11, 2010 )

I sometimes check out people who I don’t know who contact me via social networks to get a better sense of the person. Employers do it, and perhaps banks might start doing it too.

If you’re looking for a home loan, or even a commercial loan for your online business; it wouldn’t hurt to ensure your social networking presence is up to muster.

Natalie Ball from MyRate made some interesting observations in regards to banks possibly screening applications in part by using the web.

For example, Natalie says income stability is a crucial element in determining the overall risk you pose to a lender.

Comments you post around the web that may indicate anything but stability; (whether they be financial or otherwise I guess) could wind up being a form of “Tweeticide” when it comes to applying for finance.

It doesn’t stop at applying for jobs and bank loans. Potential business partners will likely search around to learn more about you as part of their due diligence.

A criminal record can stick with you forever – and so can off the cuff comments, or the views of others posted online.

I remember a case where a colleague got into an online fight with some customers, one he pretty much well lost, and then when searching on his name or business in Google, that thread was the first listing to come up. Needless to say, it had a negative impact on his bottom line.

It’s hard to stay totally in check at all times – after all, even online business folks are human – but while the ordinary Joe may have an easier time of hiding behind a screen name, for us, the reputation bar is raised higher.

While in the early days of the web we may have still felt and expected some degree of privacy – that luxury is rapidly fading. Even in private online conversations, it seems people have less qualms about posting what is said for others to see.

It’s something to think about before hitting the “Tweet”, “Share” or submit button.


Monitoring your online reputation
Dealing with aggressive customers


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