I came across an article last Friday before I went under the weather this cold weekend and am still feeling the effects. Have you settled with a creditor? Have you had your identity stolen and charges rung up in your name? You thought everything was taken care of? But the zombies came back.
On the credit market, debts are sold and resold from agency to agency, so something you may have settled — even more than once — can spring back to life, with no record of past payments. Collectors grab for whatever they can get. And the debts are hard to kill.
Apparently this is a big market and they hope to scare you into paying. According to this article they have no legal right to force you to pay after 6 years (check your state law) but if you pay even part, you open the window.
Learn your rights if you are getting hassled and get legal advice. If there is anything I have learned about the internet is that you get many different opinions.
photo via http://www.flickr.com/photos/bahkubean
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