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Consumers may need debt relief from "zombie" debt

Imagine being chased by a zombie. The party being pursued may feel scared and worry about being eaten alive. Although zombies may be fictitious creatures in scary movies and dramas, zombies do exist in real life in the form of debt, thus leading to the need for debt relief. A specific type of debt known as "zombie debt" may come to haunt a person when he or she least expects it in Pennsylvania.

Zombie debt refers to money that people owe to institutions from a while ago. Collection agencies locate and purchase old debt from companies such as cellphone providers, gyms and credit card companies. They then aggressively go after the people who owe this old debt.

Although collection agencies used to focus primarily on people who had long-outstanding credit card debt, now they are beginning to go after people who have been delinquent on medical debts, vehicle loans and mortgages. Their goal is to purchase bad debt from creditors for a low amount and then obtain from consumers more than it paid to buy the debt. They may even attempt to file lawsuits in order to claim this money. This debt can easily haunt a person for his or her lifetime.

Credit card debt can be frightening when it gets out of hand. In addition, the thought of being reminded about debt from years ago that you thought had been forgotten can cause further panic in Pennsylvania. However, it is possible seek help through a personal bankruptcy filing, which can often provide rapid debt relief. Through bankruptcy, one can eradicate incorrigible debt and embark on the road to financial peace once again.

Source:, "'Zombie' debt, unlike its namesake, is truly scary", Paul Samakow, April 6, 2014

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