Most people need to understand that some bill collectors try to get you to pay on no longer collectible debts. You might think it's illegal, but it's not. On Wall Street, an old debt like written-off credit card balances are bundled and sold to collection firms for pennies on the dollar. Then, they try to squeeze the people to pay on these old debts. If they're unsuccessful, they'll rebundle you and sell it again. But most of the time, the statute of limitations has run. But they can call you and trick you into paying this debt. If you receive these calls, consult a lawyer experienced in this area before you return the calls.