Zombie debt business booms, putting consumers at risk

Zombie Debt

It sounds like a creepy Halloween story, but if you have a debt from years ago that has never been paid, beware. That old account could come lurching back to life when you least expect it.

Very old debt, often referred to as zombie debt, can haunt consumers for a long time, according to Ira Rheingold, executive director of the National Association of Consumer Advocates (NACA), an organization that includes more than 1,500 consumer attorneys. “It’s a debt that never dies — it just keeps coming back in many different forms with different owners, and you can’t kill it,” Rheingold says.

Read more: http://www.creditcards.com/credit-card-news/zombie-debt-buyers-consumers-fight-back-1282.php#ixzz27sR9o84c

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