Don’t Let the Rise of Zombie Debt Haunt You
Many people never heard of zombie debt until they receive a letter regarding their once resolved fraudulent credit issue which has been re-awakened. This is known as zombie debt. Imagine that your credit card was stolen and the thief goes on a shopping spree. You notify the credit card company of the theft and to rectify the situation. All charges are cleared and you are not responsible for them. Right? Better think again.
Collectors harass consumers to no avail when collecting debt. Consumers who believe the debt was resolved or never even had any in the first place are reporting more and more abuse from collectors. From nasty phone calls to trashing credit reports, the Federal Trade Commission has heard it all. They received many complaints in 2005 about third party debt collectors. For more information on zombie debt, please visit MSN.com.
“Zombie debt refers to old debt purchased by debt collectors hoping to intimidate consumers into paying the debt. If you’re contacted by a collection agency about an old debt, don’t give in immediately. You have several tools you can use to fight back.” See About.com for more information.
Links to Tackling Zombie Debt
- Deal With Zombie Debt. Find great advice on how to deal with zombie debt.
- Sound Money Matters. Ready to fight zombie debt? Learn how to deal with zombie debt once and for all.
The bottom line is to be vigilant with your credit! Review your credit statements on a monthly basis and review your credit score at least once a year. Do not assume you owe the debt. Verify that you owe the debt and make the collectors prove you owe the debit. Start a file and keep all letters from collectors in one place. Feel free to hang up on collectors if they are being rude or call everyday. You may want to consult with an attorney if the calls and letters continue.
Finally, file a complaint with the Federal Trade Commission. They are pursuing illegal collections and are shutting down collection agencies. Make sure you know your rights and take the necessary steps to handle the situation. It’s your credit that is on the line!
Rebecca Sebek is a writer first and a “niche” writer second. I am very passionate about many subjects such as art and culture, animal and human rights, education, (formal and informal) travel, and health and wellness, just to name a few.
Writing to me is like breathing air; it’s something that I need to do. I enjoy lending my voice to those who cannot speak or who require someone else to speak on their behalf. Unfortunately, people hear but they do not always listen. Sometimes it takes a person with a little more “oomph” in their voice in order to get a point across or change a policy.
Rebecca enjoys making a difference in the lives of people by leading, inspiring, and motivating them to live their best life yet. Change yourself, change the world.
Blog URL: http://misticcafe.com Magazine URL: http://www.whenmagazine.com/index2.html
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