Last Monday (September 1st, 2008) the show was about Zombie debt and that when you manage to dodge the debt collector it could come back to haunt you.  If your identity is stolen and you diligently report your credit cards stolen, you close your checking account, your savings account, you fill out a police report, you fill our and identity theft affidavit per the credit card company’s direction, and then you think you have played by the rules so, it should go away.

Well . . . . . . . . . . . . . . . . . . . . . . . .

Unfortunately, that’s not always the case.  While this is the way it should work and that’s the way that it was intended to work sometimes the system is flawed and sometimes those flaws come back to haunt us in the form of Zombie debt.  Now, Zombie debt is not its official name – it is the name that it has been give by most of the financial industry and I have read about it many times.  I have even been a victim of it and it was on my credit report for over 10 years (that’s 3 years past the legal time limit) only when I wrote directly to the counsel of the debt collection company and threatened to sue them did they remove it off my credit.

For more information about this topic; please listen to the radio show recorded on September 1, 2008 at  http://www.financediva.com/radio.html