Ever heard of Zombie Debt?
" Some debts aren’t worth paying back. Ever heard of ‘zombie debt’? "
You have a responsibility to repay the money you borrow.
However, sometimes life interrupts — you unexpectedly get laid off or a medical crisis limits your ability to earn a living.
This disruption to your income makes it impossible to keep up with your debt payments.
Then the collection calls start. The chase for payments may start cordially, but eventually the threat of legal action accelerates. Here’s why.
Debt collectors have a limited number of years in which they can sue for repayment. After the time runs out, certain unpaid...
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