Zombie Debt
Posted in Credit Cards
define: Zombie Debt
Essentially, zombie debt is old, basically unrepayable debt that should have died, but just won’t. Certain types of debt are beyond the legal statute of limitations for collections by a credit card issuing company, such as when a thief runs up charges on a stolen credit card. But sometimes that doesn’t stop the company from hiring a collection agency to attempt collecting the debt.
This definition is filed under Credit Cards.
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