Being in debt is a major concern for most Americans, whether in Maryland or elsewhere. While many of us have straightforward financial lives, it is possible that we face the inability to pay off some debts. Where this doesn't happen, debt collectors step in and try to force the clearance of the debt. Now, however, there seems to be a whole new way debtors can be troubled by debt they were unable to pay.
Debt collection tended to revolve around getting debtors to repay credit card debts in the early days of the economic recession. Today, collectors have expanded their territory and are now collecting even mortgages, medical debts and vehicle loans. The fact that such debts may have been written off by the actual lender has led to experts calling these 'reawakened' obligations "zombie debts." The debtor may have made a fresh start assuming that the company he owed money had canceled the debt, but suddenly, a new debt collector comes calling and demands repayment.