Zombie Debt. (bankruptcy, company, federal)

[baystater]

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?

[carrot juice]

How can a debt company pursue a debt that is over 15 years old?

[tallrick]

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.

[mikeyyc]

Originally Posted by tallrick

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.

[pghquest]

Originally Posted by carrot juice

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.