Learn Something
Don’t Turn Old Bills Into Zombie Debt
The zombie apocalypse is real, and it’s eating your money. Well, it’s trying to anyway, and you might unknowingly be helping them.
If you’ve every received a phone call or letter in the mail demanding payment for a debt that is years old, you might have unfortunately have zombies knocking at your door. Some debt collectors have a way of resurrecting debt that is so old that is might actually be outside of the statutes of limitations for collection. We call that zombie debt.
A tactic that is often used is trying to reset the clock on an old debt. How do they do this? By trying to get you to make a mistake. If you acknowledge the debt by admitting that you owe, make a partial payment, or ignore a lawsuit, you might have just given a debt collector ammunition against you.
For more about this practice, check out the video below.
