' How to Deal with Zombie Debt - Law Offices of Robert M. Geller
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

What is Zombie Debt?

Zombie debt – it sounds creepy and if you don’t understand what it is, your financial standing can be eaten alive.

Zombie debt is another way of describing junk debt, or more officially, delinquent debt. This is debt that has been written off by the original lender and sold to companies that hope to collect a portion of the original amount. The most common types of zombie debt include retail debt, credit card debt, telecommunications debt, and healthcare debt. In some cases, these debts might have been paid, but a mistake in recordkeeping led to the sale of the debt.

Debts have a statute of limitations that protects you from zombie debt collection. The length of time varies, but is rarely more than six years. An attorney can help you determine the date from which the statutes of limitations is calculated and whether or not a debt is still active.

Zombie debt usually rears its head when a person applies for a loan. When changes or updates occur on a credit report, zombie debt collectors gain access to personal information and attempt their collection efforts.

What Should You Do If You Receive a Request Related to Zombie Debt?

There are laws in place under the US Fair Debt Collection Practices Act to protect consumers from zombie debt collection. Like all collection efforts, zombie debt collectors are prohibited from being abusive or deceptive.

If a zombie debt collector contacts you, do not provide any personal or financial information. Do not acknowledge the debt or agree to make payments. Ask for the contact information from the debt collector and request written proof of the debt. Finally, send a certified letter to the collector disputing the debt and request that their collection efforts end.

Resolving Zombie Debt

If you have fallen victim to zombie debt collectors, you need to take action as soon as possible. Zombie debt can have a negative effect on your financial standing and affect your ability to obtain a loan. Review your credit report on at least an annual basis to ensure everything listed on it is correct. Working with an experienced attorney also makes it easier to put an end to zombie debt collection efforts and get back on track.

If you would like to learn more about zombie debt or you need assistance thwarting aggressive collections efforts by creditors, contact the Law Offices of Robert M. Geller at 813.254.5696

 

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

How Often are Bankruptcies Denied?

Bankruptcy offers a lifeline for people drowning in debt. It provides a chance to start anew and regain financial stability....
Read More

How Much Debt Should I Have Before Considering Bankruptcy?

Dealing with overwhelming debt and financial hardship is difficult. The prospect of bankruptcy may offer a path toward relief, as...
Read More

How Long Does Chapter 7 Bankruptcy Take to Discharge?

Chapter 7 bankruptcy offers a fresh start and a path toward financial stability for people struggling with debt. But when...
Read More

Does Business Bankruptcy Affect Personal Credit?

Does Business Bankruptcy Affect Personal Credit? For entrepreneurs and business owners facing financial challenges, the prospect of business bankruptcy can...
Read More

Can I Get an Apartment After Filing for Bankruptcy?

Filing for bankruptcy often feels challenging and overwhelming. It also raises a variety of concerns. One of the most common...
Read More

Are SBA Loans Dischargeable in Bankruptcy?

Navigating the complexities of Small Business Administration (SBA) loans and bankruptcy can be a daunting task for many business owners....
Read More

How to Get Bankruptcy Off of Your Credit Report

Rebuilding financial health after bankruptcy is challenging, but that doesn’t mean filing is worth the effort. One common concern for...
Read More

What Happens When You File for Bankruptcy?

Contemplating bankruptcy is a significant decision that comes with many questions. If you're considering filing for bankruptcy, it's essential to...
Read More

Can I File for Bankruptcy If I Have a Job?

Many people considering bankruptcy are unemployed or know that unemployment is imminent. However, this isn’t always the case. In some...
Read More

Can Bankruptcy Stop Foreclosure?

Many people face the distressing prospect of foreclosure on their homes. If you find yourself in this situation, it's crucial...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions