If you are getting collection calls, Stop!! Don’t Pay a Penny on that “Old” Debt Until You’ve Talked to a Lawyer!
Many of us have enjoyed (or been scared by) a zombie movie or tv show. They are quite popular these days. However, few people have heard of or seen the real life horror story of a “zombie” debt.
What is a zombie debt, you ask? Well, like the unfortunate souls in those movies, it is a debt that keeps coming back to life. The term usually refers to a debt, that is beyond the statute of limitations, that keeps getting passed from one debt collection agency to another. The world of debt collection often involves the buying and selling of old debts. Often for pennies on the dollar.
Once a debt is beyond the statute of limitations, you cannot be sued or taken to court over it. However, a debt collection company may still try to collect the debt from you via the normal channels, like phone calls and letters. Often, these debts keep getting re-reported to the credit reporting agencies each time they are bought and sold. As a result they never die, just like a zombie.
Many people are shocked when they get contacted by a collection agency for a very old debt. The debt collection companies take advantage of your emotions and will try to get you to make a payment. This is the worst thing that you can do with a zombie debt because it can restart the statute of limitations in some states. Now rather than getting empty threats, the debt collector can take you to court and possibly obtain a judgment.
If you made a payment, don’t worry because you may still have rights. If the debt collector used illegal tactics (it could be something as simple as lying to you) you may have a claim against the debt collection company. Contact the attorneys at Hinkle Law, PLLC to find out your rights. We regularly sue debt collection companies who violate state and federal law.