Transferred Collection

[bradleysc7]

I have an Old Navy Credit Card that was with one particular collection agency who claimed the amount was approx. $500. I was saving up to send a PFD letter but last week I got a letter in the mail from a new collection agency indicating that they had bought the debt from the previous agency. They are claiming that my balance is $550, Is this legal? Shouldn't I only be responsible for the debt that I owe and not these ridiculous fees they are adding because they bought my debt for 3 cents from someone else? Need some advice.  Thank you in advance.

[rckstrscott]

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@bradleysc7 wrote:

I have an Old Navy Credit Card that was with one particular collection agency who claimed the amount was approx. $500. I was saving up to send a PFD letter but last week I got a letter in the mail from a new collection agency indicating that they had bought the debt from the previous agency. They are claiming that my balance is $550, Is this legal? Shouldn't I only be responsible for the debt that I owe and not these ridiculous fees they are adding because they bought my debt for 3 cents from someone else? Need some advice.  Thank you in advance.

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They are legally allowed to charge interest from the original balance owed to Old Navy, it possible it just wasn't reporting the recent accrued interest

-scott