OSI Collection Services, Inc. collected money from us and sold our account to another company St Louis Missouri

Sherri of Piedmont purports to know what she/he is talking about and obviously does not. True that there are some agencies that purchase debts, not all do. OSI Collections services did used to have those types of debts but the Capital One debts were not one of them.

Collectors are not bottomfeeders. There are some bad apples in the business just like in any other. Kirk is more on target with his rebuttal.
There is a difference between a 'written off' debt and a debt that is sold.

The FDCPA only covers third party consumer debt. If in fact the debt is purchased it is then owned by the agency that bought it and they are not governed by the FDCPA or the FTC which is the federal agency responsible for enforcing the FDCPA (fair debt collection practices act).

It is true that if the account is not closed out properly that it could be recalled from the original creditor (Capital One in this instance) and then sent to another collection agency by the original creditor or even sold. It is imperative that you get a paid in full letter from any entity in which you conduct financial transactions. Keep it as long as you are able in the event it comes up again months or years later.

OSI may not have done what they should have to properly close the account and that is their wrong doing. You did not get your paid receipt and that is where you made your mistake.

1. Accounts are charged off after 180-days of delinquency, NOT six years. Six years would be beyond that Statute of Limitations in most states. After they are charged off, the original creditor writes it off as bad debt and then bottomfeeders "purchase" the "non-performing portfolio" for literally pennies on the dollar.

2. The debtor has NO legal or moral obligation to pay a bottomfeeder, as the debtor did not have a legal contract with the bottomfeeder/"third party collection agency", not was the debt "assigned". The bottomfeeder purchased INFORMATION on the debtor in an attempt to make significant profit on a minimal investment. Paying a debt scavenger is never a good move, as you become an easy mark, and they will sell your information to other bottomfeeders and the process starts over again and again.

3. Bottomfeeders profit from ignorance people have of their rights. Thanks to sites like this one, more and more people are getting educated.

It was not actually OSI who is trying to rip you off. It is Capital One. This is something they try to do all of the time. I worked for OSI when I was in college and was assigned Capital One accounts. Every time we would receive new accounts, almost half would be accounts that was settled with some other collection agency. Capital One is is just trying to milk more money out of you. Also, Capital One does not sell off accounts until they are 6 years old. Whenever you settle accounts, make sure you receive a settlement paid letter. If you call Capital One they have to provide you with one.