Miller, Stark, Klein & Associates is an experienced debt mediation services firm that is available to not only represent consumers with debt management claims but also to educate them on “zombie debt”, and how to avoid it.
Charlotte, NC -- (ReleaseWire) -- 11/17/2016 --The top two biggest concerns among consumers today are identity theft and debt collection scams. The risks of identity theft, the theft or misuse of personal information, and even debt collection scams have left many consumers very leery about the security of their finances and even their online presence.
Consumers who have had debt in the past that they were unable to pay are often written off as "uncollectable". This means that the company, organization or debt collection agency has given up trying to collect the debt. This typically happens if the consumer is unreachable after numerous attempts to collect the debt. After some time, these old debts are sold to new debt collectors and then the debt collection process begins all over again. This is known as "zombie debt".
However, this new debt collection business model and concept of "zombie debt" might not necessarily be legal. Most states have a statute of limitations on the amount of time a creditor can attempt to collect a debt. Therefore, if the debt is old enough, then it may not be legal for the collection agency to collect it.
About Miller, Stark, Klein & Associates
Miller, Stark, Klein & Associates is an experienced debt mediation services firm that is available to not only represent consumers with debt management claims but also to educate them on "zombie debt", and how to avoid it.
What Consumers Can Do About "Zombie Debt". Even if consumers have legitimately incurred and accrued debt fairly, and failed to pay it, they still have legal rights surrounding the amount of time to pay the debt and to be contacted regarding the collection of the particular debt.
Here are some tips for consumers on what to do if they are contacted about a "zombie debt":
1. If a creditor or collection agency calls requesting payment or personal information, simply ask for the agency's address and send them a letter instead. Never provide personal or payment information over the phone.
2. Consumers should never admit they are responsible for the debt, even if it is fair. Instead, correspond with the agency only via mail and written correspondence.
3. Send a certified letter to the debt collection company within 35 days of their contact requesting that they prove that a consumer does in fact owe the debt.
4. Ensure the legitimacy and validity of the collection agency before speaking with the agency for any reason. According to the Federal Trade Commission, and the Fair Debt Collection Practices Act, debt collection agencies must provide consumers with this information.
5. After information surrounding a debt collection agency or a particular debt is received and the validity of the agency is verified, the next step is to determine the statute of limitations on the particular debt.
In many cases, "zombie debt" might be computer error, a result of identity theft or it a scam altogether. Additionally, if a caller threatens legal action, such as an arrest or uses harsh or inappropriate language, then these are also clear signs of a scam.
How Miller, Stark, Klein & Associates Can Help
Miller, Stark, Klein & Associates is a trusted debt collection agency with years of experience working with consumers to help them to manage their debt and to educate on the best debt management practices.
The team at Miller, Stark, Klein & Associates is aware of debt collection scams and "zombie debt" attempts. Therefore, the team of financial analysts and account representatives at Miller, Stark, Klein & Associates are available to help consumers review their cases involving potential debt collection scams and questions surrounding "zombie debt".
If a consumer is looking for help with debt management or requires financial advice or help with "zombie debt", then know that the team at Miller, Stark, Klein & Associates is trustworthy, reputable, and experienced in helping consumers reducing the total amount of debt owed and educating them on how to best protect their finances. Part of the mission behind Miller, Stark, Klein & Associates is to help consumers plan for a healthy financial future.
For more information on the team at Miller, Stark, Klein & Associates, or to reach out to the team today, call 888-813-6630 or email firstname.lastname@example.org.