What Is A Zombie Debt – Great Article On Debt Buyers Of Old Debt


This is an article from MSN’s Liz Pulliam Weston who wrote one of the best articles we’ve seen on zombie debt – debt bought and sold by debt purchasers or debt buyers. This is a huge problem in not only Alabama but all over the country. Here’s a sneak peek:

An identity thief victimized Nancy Rose 10 years ago, running up a $5,045 bill on a credit card account in her name.

Rose, a Baton Rouge saleswoman, battled collection agencies for years over the bogus account. They harassed her by phone and trashed her credit report. She’d no sooner convince one that the debt wasn’t hers than the account would be sold to another and the calls would start all over again.

Read this fine article but here is where the name “zombie” comes from – see if it reminds you of the old horror movies where the zombies keep coming and coming and coming….

The collection agency settled for $40,000, according to Rose and [attorney David] Szwak. They thought they had finally won the war.

That was in 2003. Three years later, Rose got a letter in the mail — from a new collection agency, dunning her for the same $5,045 debt.

“It never ends,” Rose said

We have many clients in Alabama that suffer from this same type of conduct – if you have been contacted by a debt purchaser about “zombie debts” then feel free to contact us to discuss your options. Or maybe watching some old horror movies would give us all some ideas on how to kill zombie debt once and for all….

Another resource for you is to join our Facebook Fan Page – Alabama Consumer Protection Attorneys where we share useful information about the same types of issues that we cover in this blog.


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