Are contracts for debts null and void if sold to a collection agency

[KORAK]

I read on the freeadvice forum that I quote
"Assignment of a debt to a collection agency relieves you of any liability to pay, not only your original creditor, but also subsequent collectors. Banks are prohibited by accounting regulations from loaning money. Secured debts such as your mortgage could be canceled because of disclosure violations of the Truth in Lending Laws."

Would anyone know the validity of this claim?
KORAK

[GreatGadsby]

sure, they're full of crap!

[jk]

I would like to hear who posted this. As with any website such as this, there are people with knowledge and there are people without knowledge and then there are people who believe they have knowledge.

It sounds like that poster was among the last of the groups.