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Old 02-28-2008, 02:52 PM
 
Location: Sitting on a bar stool. Guinness in hand.
4,429 posts, read 5,935,291 times
Reputation: 1713

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Consumers haunted by 'zombie debt' -- Newsday.com (broken link)

Great! We don't just have debt now-a-days. We have Zombie debt as well. Anyone been hit by this phenomenon?


And you actually meet the person that collecting on you. Did they look like this?



Or were they more like a Troll?


Last edited by baystater; 02-28-2008 at 03:13 PM..
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Old 02-28-2008, 03:21 PM
 
336 posts, read 1,433,937 times
Reputation: 263
How can a debt company pursue a debt that is over 15 years old?
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Old 02-28-2008, 04:20 PM
 
Location: Heartland Florida
9,324 posts, read 24,687,502 times
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Only by breaking the law! They take the chance because they hope to get something as a payment. Little does the debtor know that any acknowledgement of the debt restarts the clock and they could be liable for all of it.
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Old 02-28-2008, 05:02 PM
 
Location: Hougary, Texberta
9,023 posts, read 12,161,604 times
Reputation: 10960
Quote:
Originally Posted by tallrick View Post
Only by breaking the law! They take the chance because they hope to get something as a payment. Little does the debtor know that any acknowledgement of the debt restarts the clock and they could be liable for all of it.
They aren't breaking the law. Otherwise you are right, sort of. It hasn't been determined for sure that the acknowledgement restarts.
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Old 02-29-2008, 12:15 AM
 
69,360 posts, read 58,394,989 times
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Quote:
Originally Posted by carrot juice View Post
How can a debt company pursue a debt that is over 15 years old?
Lets also add in the fact that the news story stated that they filed bankruptcy, meaning that it would violate numerous federal laws to try to collect.
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