NACA in the News: Zombie debt: What consumers should consider in light of a new CFPB proposal

Bankrate

Zombie debt: What consumers should consider in light of a new CFPB proposal.

“‘It will work to hurt consumers because what they’re basically saying is debts that are no longer collectible — they’ve passed the statute of limitations — here’s the notice you can send to people when consumers don’t have a duty to pay,’ says Ira Rheingold, executive director of the National Association of Consumer Advocates. ‘Those debts shouldn’t even be allowed to be collected as far as I’m concerned.'”