Zombie Debt

Debt that has long since been written off as uncollectable, forgotten, or otherwise surpassed the statute of limitations on collection, but is once again being pursued by a debt collector.

Rick lent Carl his hat and $20 to buy an eye patch to shield him from the sun during the hot summer season. Over time, Rick forgot about the loans and Carl was free to move on with his life.

But Carl’s friend Sayid showed up, seemingly out of nowhere, insisting that Carl repay Rick, resurrecting the zombie debt.

Carl finally settled up with Rick after eight summers (and at least four seasons overdue).

Find other enlightening terms in Shmoop Finance Genius Bar(f)