I received a letter from MCM stating they had just purchased a past due account from Capital One and they were attempting to collect on it. I have only had 1 account with Capital One and I paid it off through another agency over a year ago.
I called MCM and informed the person that answered tha I had already satisfied that debt over a year ago. He quickly stated that they recently purchased the debt from Capital One. He apologized and stated that "we will handle it from here. You don't need to do anything else."
I informed him that I was going to follow up with a dispute letter to MCM as well as file a complaint with Capital One. He quickly stated that it was not necessary to do that since they, (MCM), had not reported on that account to any credit bureau. I told him I was going to do it anyway to protect myself.
I also noticed that in their "settlement offer" there was a form stating tha unless I specifically instructed them not to do so, they would share any and all non-public information about me and my account that they collected. To do this I had to fill out a separate form and mail it to another address they had.
I truly believe this company is sending these settelemnt letters to accounts that they may have been offered in the past with the hope that someone will unwittingly begin paying them. The sad part is that the "offer" they made was almost double what the original credit limit was and much greater than what I had paid to settle it. The "balance owed" was even more ludacris. It is unfortunate that when these companies do "buy" debt, they buy it for pennies on the dollar and can then charge whatever they want to "settle" it.