how zombie debt works
zombie debt generally refers to debt that is more than three years old which has either been forgotten about already paid off or belonged to someone else it can also be the result of identity theft a computer error or a fraudulent attempt to collect on a debt that does not exist the original creditor will most likely have given up on the debt and sold it to a debt collection agency these debt collectors can be quite unscrupulous and often make harassing and threatening phone calls the statute of limitations on how long a lender can attempt to collect on a debt is three to six years in most states and even shorter in some while the debt is still considered valid even after the statute of limitations has passed you are not legally required to pay it however the companies that buy uncollectible debts are playing a numbers game they only need a few people to repay their debts to be profitable those on the receiving end of these efforts need to be careful there is no benefit in paying a debt that is beyond the statute of limitations because paying anything will restart the statute of limitations put the debt back on your credit report and enable the debt collector to take you to court 