What are Zombie Debts?
Zombie Debt is debt that is very old or no longer owed. Effectively, these debts have ‘come back from the dead’ to haunt you again. Debt collectors often purchase zombie debt from a source – the original creditor, a successor creditor or even from another debt collection agency.
Our advice for you:
1. Never ignore a lawsuit that has been filed against you for any debt, even an old debt that you don’t recognise.
2. Check your credit rating annually.
3. Zombie Debt may not be yours! Investigate! The debt might belong to someone with a similar name or it could be the result of a creditor’s mistake.
If you have zombie debts, other unsecured debts and mortgage arrears, look into your Insolvency options today with R Hendy & Co. We will do our best to put you into a Personal Insolvency Arrangement and deal with all your debts once and for all. Contact R Hendy & Co on 0402 29376 ext.1