Tag Archives: ZombieDebt

How to Protect Yourself from Zombie Debt

Zombie debt is when an old debt suddenly rises from the grave and becomes a problem all over again. These debts are especially troublesome, because it’s harder to tell if they’re even accurate. Getting hassled by debt collectors for money they don’t think they owe is the single most common complaint that Americans make to the Consumer Financial Protection Bureau. Here’s a look at how to keep this problem from coming back. How to Fight Zombie Debt Never ignore anything from a debt collector: It might be human nature to ignore a letter asking for money you don’t owe, but never ignore any materials from a debt collector. This could harm your credit score, and things will generally go better for you if you challenge a debt within 30 days of being contacted. Get the facts: If you can’t remember owing money or you don’t think you are still on…
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What Is Zombie Debt and How Do I Fight It?

If you’re a fan of the AMC series The Walking Dead, then you know just how bad zombies can be. However, we guarantee you that we know another kind of zombie that is worse than a horde of walkers and often harder to kill: zombie debt. What Is Zombie Debt? Zombie debt is the nickname given to debt that is old and shouldn’t be owed any longer. Generally, the term refers to debt that was sold to debt buyers by your original creditor for a fraction of the principal amount. Then, when you’re least expecting it, your debt rises from the dead to bite you (the debt collector who bought your debt tries to make you repay it). The types of collectors that typically buy old debt for pennies on the dollar before coming after you for repayment can be pretty sleazy. They are notorious for using any means, even…
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