What is a Zombie Debt? Although most people think zombies only exist in the movies they do actually exist in real life. However, it is not in the way that you think it is.
Have you ever worried that old debt will always come back around to bite you where it hurts the most? When if you have those types of debt are exactly what we classify as zombie debt. Today we are going to be taking a look at what zombie debt is.
We are going to examine everything about zombie debt and why it is called zombie debt so that you can better fortify yourself not to fall victim to these types of debt. So as I always see if this sounds interesting to you or it sounds like what you are actually looking to learn about let’s go ahead and jump in.
What is a Zombie Debt?
In layman’s terms, it is an old debt that has simply fallen off your credit report which means it no longer reflects on your credit report because the statute of limitation has passed. These types of debt have usually been deemed uncollectible by the creditors so they have forgotten about it, even you have forgotten about it. However, they are called zombie debt because they can simply rise from the grave to haunt you.
They can rise from the grave because a debt collector can decide to start the process of collecting on the death all over again even when it is not legally possible to do so. These are the types of debts that are classified as zombie debts. It is very important that you know about zombie debt so that you can not fall victim to scams.
How Does a Zombie Debt Work?
A zombie death is a debt that is more than three years old or a death that has already been paid or a death that is simply for someone else. However, collectors can decide to collect on this date as a result of an identity theft a computer error or a fraudulent attempt to collect money from you. In such a case the operational character is likely to have already given up about that date.
However either as a result of a computer error and identity theft or a fraudulent attempt someone will contact you trying to collect on that debt. This is where you will not be getting calls from another collection agency or a scammer trying to collect on that death by making harassing and threatening phone calls. You should never give in to such types of debt.
What are the Tactics a Zombie Debt Collector Uses?
Zombie debt collectors are often called debts convergence, data make use of any means necessary for you to pay on the death that has already expired or is being paid. So we need to know some of the tactics that they use in order to protect themselves. Some of the tactics are listed below:
- They may ask you to pay a small amount of the debt so that they can leave you alone. Know that leave early you do not have to pay a zombie debt because it has already been thrown off your credit report.
- Zombie debt collectors with chatting to Sue you if you do not pay the debt immediately. It is important to note that a debt collection agency cannot legally threaten to Sue you it is a crime.
- They might switch to abusing or harassing you and making all sorts of threats and using harsh words excessive calls and others. These types of harassment are illegal so do not give in or simply report them.
- They basically lie to you that they are lawyers and they are going to sue you if you do not pay.
Examples of Zombie death that Collectors try to Collect?
There are specific types of death that the zombie debt collectors try to collect they are listed below:
- Discharged or settled debt.
- Time-barred debt.
- Debt that has fallen off your credit report.
- Jobs that belong to someone else.
These are the majority of the types of beds that zombie debt collectors try to collect.
How to Protect Yourself Against Zombie Death
There are various ways that a person can use in protecting himself or herself from a zombie death so that you do not fall, victim. The best of these ways and listed below for you to know and understand.
- Always research the tests before paying do not just pay a debt because a collector is breathing down your neck. Make sure to do your research to know if the debt is yours.
- One of the best ways to turn off zombie debt collectors is to simply request a validation letter. So that you can check this against your record on your credit history to know if the debt is yours or not.
- Do not share my information with the zombie debt collector because they should already have your information.
- Finally do not owe debts.
What to do if you are contacted about a Zombie Debt
If you are contacted about a zombie that is actually yours then it might be time to pay off the debt and never look back. You can start by getting your collector to agree in writing that they can’t see you collect the remaining amount when you pay off an agreed amount from the debt. However, payment isn’t an option you can simply decide to file for bankruptcy.
If you have paid the Debt already simply said it this week later to your credit or that the death has already been paid by you. However, if the death is still listed in your credit report go directly to the three major credit bureaus to dispute it. You can also send the agency a certified letter stating that the dead isn’t yours and ask them to stop calling you.
In the case where you determine that you are a victim of identity theft, you can simply freeze your credit close any account that is open in your name and place the front alert, and report to the FTC.
FAQs
How do you get Zombie Debt?
A zombie game is basically any date that you left on paid that has already fallen off your credit history or the statute of limitation for that date has passed. They can also be dead someone else, oh and you are being called upon to pay it.
What is a Zombie Debt in Texas?
It is any debt that is considered dead that is revived by a creditor years later after it has expired so that you can pay to make payment for them. Texas creditors are allowed for years from the date of the last payment for them to take action which can include filing a lawsuit however after four years the death is considered as dead.
