Coming to Terms
Return of the Living Debt, Part 3
Once you're over the fear of the zombie debt and know how to recognize it and even how to fight it, it's time to come to terms with the debt. Put on your best poker face and stare the zombie debt in the eyes. Size up the zombie debt in front of you and plan your move: is attacking it head on the best approach? Or should you slip out the back door and forget all about the zombie debt? As long as that zombie debt is valid, you need to deal with it, or it will continue to haunt you.
Check Your Credit Report
You check the weather before you get dressed, you look in the mirror before a date, why be surprised by something as evil as zombie debt on your credit report? When you are diligent about paying your bills on time and have a financial plan in place for the future, it would be shame to let something as ugly as zombie debt mar your credit report with gore.
- Keep an eye on your current open accounts being reported to the credit agencies, while keeping a keen eye out for old zombie debt.
- Request your annual free credit report from each of the three major credit reporting agencies. Don't assume because one credit report is free from zombie debt that the others are as well.
Give in to the Un-Debt
Not for the faint of heart, giving in to the un-debt may be the best approach. In the past, back when zombie debt may have been in black and white, not in full color, paying off old zombie debt could update a delinquency on your credit report. This is no longer the case. Paying off zombie debt could actually leave an unsightly smudge on your credit report and dig your credit score deeper into the grave.
- Paying off a zombie debt collector will not remove a "charge-off" from your credit report.
- Setting up a payment plan with a zombie-debt collector could restart the statute of limitations. It's better to pay in full if you can.
- Paying off part of the debt could trigger the zombie-debt collector to pursue you for the rest of the debt, regardless of any agreement you may have made.
So, Sue Me
The maverick zombie-debt fighters among you may be thinking, "so sue me," while the more timid fear the courtroom. Going to court may not be a bad thing. Zombie-debt collectors are not known for their accounting or paperwork skills. The paperwork they use to sue debtors may be incomplete when they file in court. Missing information, or messy details could work in your favor. Judges, in the wake of the recent mortgage crisis where foreclosure paperwork has also proven to be sloppy, have no tolerance for inadequate filings. If you're sued, it's up to the zombie-debt collector to prove that you owe the debt.
http://www.atlanticcredit.org/when_paying_bills_can_hurt.htm
http://www.ftc.gov/os/statutes/fcrajump.shtm
Read more about Credit Cards
Return of the Living Debt, Part 2: Fighting the Un-Debt 
Consumers being pursued by zombie debt collectors can come out of hiding and use these weapons to fight off the financial monsters.
Return of the Living Debt 
If you're the type to dismiss zombies as poppycock, and you value your credit score, you may want to pay attention. There is a type of zombie which may interest you: zombie debt.
Zombie Debt! 
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Bad credit credit cards
Orchard Bank Classic MasterCards
- An excellent credit card for help rebuilding credit scores; reports to 3 major credit bureaus monthly
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Email and text messages are available to remind you of your upcoming payment due date
Orchard Bank Visa Cards
- Reports to 3 major credit bureaus monthly providing you the opportunity to rebuild your credit
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
Green Dot® Gold PrePaid Visa®
- $0 Activation Online - with no credit check
- Access over 18,000 MoneyPass® ATM's
- Get a $4.95 credit on your first MoneyPak cash load (see site for restrictions)
Orchard Bank Classic MasterCards
- An excellent credit card for help rebuilding credit scores; reports to 3 major credit bureaus monthly
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
Walmart MoneyCardSM MasterCard® Prepaid Card
- No issuance fee online
- No credit check or bank account required
- No overdraft fees
Walmart MoneyCardSM Visa® Prepaid Card
- No issuance fee online.
- No credit check or bank account required
- No overdraft fees
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