Zombie Debt & Foreclosure News
June 13, 2008 by Todd N. Wilkinson
Even if you have filed for bankruptcy, unscrupulous collection agencies may still attempt to collect on your discharged debts. The collection agencies know that many people will end up paying rather than fight. Additionally, these collection agencies may report such discharged debt to the credit reporting bureaus (Equifax, TransUnion and Experian).
Read more about zombie debt here.
In other news, foreclosures are up 48% nationally compared to last year. Lenders attempting to modify loans in a last ditch effort to prevent foreclosures are totally overwhelmed. Compounding the situation are rising mortgage rates based on inflation concerns.
Read the foreclosure news story here.
Call Oliveros & O'Brien, P.C. to schedule a free consultation if you have a pending foreclosure or are experiencing "zombie debt" issues. It's a good idea to visit www.annualcreditreport.com once a year to verify the accuracy of information on your credit reports.