Can a debt collector buy a debt that was settled or written off by a company?
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M$
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M$
Thanks for relieving my mind. I actually have documentation somewhere of this stuff. I'll have to dig it up... grrr! I went through a reputable debt settlement company. I am going to call them tomorrow and see if they can handle this (get these people to stop calling) ... but I wanted peace of mind tonight.
To clarify, cosmo, yes the debt collector CAN buy your debt. (The original creditor should not have sold it to them, and it was probably a mistake, but they can.) HOWEVER, when the new "creditor" tries to collect, they must follow the federal Fair Debt Collection Practices Act (assuming you're in U.S.). They must give you notice on how you can dispute it, and must take appropriate action when you do dispute it. If they do not, you have the right to SUE THEM in federal court and recover (limited) damages. There are attorneys who can help you do that.
But, hg is right that you REALLY need to find your documentation - it will be very hard to try to get it from the credit card company.
Good luck, and remember, this comment does not contain any legal advice and you must not rely upon it in any way, shape or form.
I called the place that I paid to handle the settlement for me, they said that since discover card released the dept and sent a letter saying the debt was settled, I didn't have have to pay this place anything. That it would not hold up, since discover sent a letter saying the debt was taken care of. They said they kept copies of all of the documents.