Sued by a acquisition/lawyer

[westone]

I need information concerning credit laws regarding the code that relates to someone buying your old debt and then the acquisition holder trying to collect the money. It is my understanding this practice is against the law?
New Jersey

 

[Michael Wechsler]

Why should it be against the law to but the debt of another? It's done every day in numerous forms.

 

[westone]

Thank you for time. This was a disputed credit card debt now over four years old. The credit company I retained told me it was not legal. But, all they have done is cost me several thousand dollars without any positive help. Headed for bankruptcy..........

 

[dee_dub]

Did your credit company tell you WHY they think it's illegal?

 

[westone]

They claimed someone who buys an old debt couldn't sue for the amount. I now understand this was false information....