American families owe more than $12 trillion in debt. The nation’s debt is just $7 million more. $436 billion of which is "seriously delinquent," meaning it is over 90 days past due. The debt crisis has given rise to the debt-buying industry. One major debt-buying company is Encore Capital Group — they claim that one in five consumers owes or has owed them money in the past.

Banks often sell the debt of the customers to third-party debt-buying companies for a fraction of what it's worth. These companies then are able to go after the debt-ridden consumer for the full amount. Banks sell off debt to Encore and other debt-buying companies. Nothing is vetted, and most of the information typically comes in the form of an Excel spreadsheet listing names, social security numbers, account balances and outstanding debt.

Now, this may be shocking, but these debts that are sold often no longer exist. There's even a name for them: zombie debts. These are debts that have been neutralized through bankruptcy or that are too old to be sued over or that have flat-out been paid. It doesn't matter, though. They are now in the hands of debt buyers who will go to just about any means to collect them. Debt collectors are ruthless and use any tactics to collect including:

• Threatening murder.
• Threatening to "wake up every neighbor in your entire f*cking building."
• Calling someone a loser and suggesting they jump in front of a train.
• Threatening to have someone's dog "arrested," shoot the dog and eat the dog.
• Finding out where someone works and calling their boss at home.
• Pretending to be a government agency.

These tactics are not legal but these collectors often skirt the law claiming it’s “just part of the business.” The Federal Trade Commission in 2014 reported that more than 280,000 complaints were filed with federal authorities related to debt collection. But the most common method debt buyers use to get their money is to take people to court ... or at least to pretend like they want to take people to court.

Becoming a debt-buyer is too easy for any person. Anyone with a computer can do it. Once you become a debt buyer, you are sent dozens of files that list names and contact information including: work information, email addresses, cell phone numbers and current addresses. Many companies purchase our debt cheaply and then aggressively come back to collect it.