Zombie debt is a debt you believed was paid off, written off, discharged, or otherwise closed. But months later it comes back to haunt you, wanting you to pay toward it.

In this episode, we go into some examples of how zombie debt can go after you and some preventive measures we can take to avoid this type of scare.

Resources:

• “Money Lessons for Baby Boomers” (Bountiful S6E7) – The Light Network Bountiful episode where we talk about elder fraud
• “Don’t Be Fooled by Scams” (Bountiful S15E11) – The Light Network
• Debt collection | Consumer Financial Protection Bureau (consumerfinance.gov) To find examples of debt validation letters, etc.
• Consumer Advice | Federal Trade Commission (ftc.gov) To find info on how to protect yourself from scams
• Debt Scavengers and Zombie Debt | Nolo
• What Is Zombie Debt? – Ramsey (ramseysolutions.com)
• What Is Zombie Debt And How Do You Get Rid Of It? (cnbc.com)
• What is Zombie Debt? | Mass.gov
• https://www.investopedia.com/terms/z/zombie-debt.asp#:~:text=Zombie%20debt%20generally%20refers%20to,debt%20that%20does%20not%20exist.
• https://www.bankrate.com/personal-finance/debt/zombie-debt