Recieved notice i that one collection company bought out anothers debt what can i do?

Question

NCO just sold my debt to a smaller company and doubled the price of what NCO stated i owed them. I know im an idiot not paying off the 1,000$ credit card bill. I know i need to pay them back. However the total amount owed now is 8,574$ this debt is 8 years old and past the 7 year statutes of mimitations in florida. However i did recieve mailing stating that they had good reason to keep the 4,500$ (only 1,000$ was ever charged)case open.

So after the case was reopened by NCO they sold the debt to a smaller company and they say i owe them 8$k but will settle for 4,900$

im unemployed and was laid off like many others i know recently but i want to do something about this debt

do i file for discovery to see where they got this number? I dont know how to but they 7,500 in fines and interests seems alittle excessive.

oh yeah its off my credit report also. But i dont know if it wil come back anytime soon.

Answer 1

If it is over 7 years old don't answer them. The minute you reply to them you re-open the debt.  Tell them you don't know what they are talking about and also tell them you don't want them calling your house or anywhere else or you will report them to the attorney general and the banking commission.

Answer 2

Well I dont think they can hit your credit again, and if its past the statue of limitations and unless they have went to court and won a judgement on you then I think you should be fine, I would tell them to kiss it, but im not 100% sure.

Answer 3

Tell the collections company that you dont acknowledge the debt, tell them its past SOL and threaten to counter sue them for. If this is 8 years old, the SOL is 99.99% past in your state. Check your state's SOL. Every state has it differently. Dont acknoweldge nor pay. If you are summoned to the court, go there and present your case calmly. The judge will toss the case anyways. If you are served, tell the collections to drop the case immediately or else!

Here is an example letter for the SOL past due.

http://www.fair-debt-collection.com/Disp...