Wednesday, September 2, 2009

Zombie Debt

Zombie Debt is old debt that has resurfaced. The debt may have been settled in bankruptcy proceedings, may not have been your responsibility, such as identity theft, or the statute of limitations may have expired.

If you have been contacted by a debt collector regarding an old debt, send them a certified letter asking for proof that you owe the debt. Check the statute of limitations on old debt. If the collector files suit against you, attend the hearing with evidence that the statute of limitations has expired. Do not agree to make a payment to show good faith, because that will re-establish the debt.

Even if you owe the debt, you have rights. Send the debt collector that is harassing you a cease and desist letter by certified mail. If the debt collector continues to harass you, you can take legal action.

If you have requested proof that you owe the debt and the debt collector cannot provide it to you, be sure to fill out a credit report dispute so that it will be deleted from your credit report.

If you need assistance with understanding your rights, please contact us at 866.553.3272.

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