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Zombie Debt, Graveyard Markets and More!

Posted on | October 31, 2008 |

Do you know how to protect yourself from Zombie Debt?

Do you know how to protect yourself from Zombie Debt?

Here’s a little Friday fun, Halloween edition, for your enjoyment.

ZOMBIE DEBT

Zombie debt is about the worst kind of bad debt you can have. Sounds pretty scary, but that’s only because it is!

Zombie debt is debt so old the borrower has forgotten all about it. This type of debt is usually given up on by the creditor, but is often bought by another company. This new company has not given up on collecting the debt, and may haunt the borrower anew in an attempt to recover the money owed.

If you are being unfairly haunted by this Zombie (either you’ve paid off the debt, or never really owed it to begin with) and can prove it, you can take action.

Under the Fair Debt Collection Practices Act (holy water for Zombie debt) you can petition the debt collector to cease and desist in pestering you. That only works if you are being unfairly targeted though… if you rightfully owe, you need to make good.

GRAVEYARD MARKET

A Graveyard Market is the period near the end of a prolonged bear market when long term investors have taken large losses and new investors are watching on the sidelines, waiting for the right time to jump in.

It is called a Graveyard market because investors in the market can’t get out, without incurring big losses, while investors who aren’t in the market want to stay out. Graveyard markets linger until the greater economic or market conditions improve. Let’s hope we’re not headed for one of these!

For more Halloween investing terms, check out Haunting Wall Street: The Halloween Terminology Of Investing.
Photo by Drunken Monkey

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One Response to “Zombie Debt, Graveyard Markets and More!”

  1. Purge yourself of toxic debt! | Simple Debt-Free Finance
    February 26th, 2009 @ 8:34 am

    [...] debt for individuals, not to be confused with Zombie debt, is debt [...]

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