In November 2001, my wife settled a debt with Capital One and NCO Financial, paying $5125 on a debt of ~$7800. We were told the debt would be listed as settled. Fast forward a few months, and we get a tax form, stating we have to report on our 2002 taxes the charge off that capital one took on our behalf. I could live with that, but was unhappy that they had posted it to her credit report as a charge off rather than a settled, otherwise, I would have just not paid period. Fast forward a few years. We moved out of Florida in June 2006 to Oklahoma, and had never heard from Capital One, nor any collection agency about this debt. It shows on her credit report as a charge off, last action 11/01. She applied for a Lane Bryant credit card the other day, and was approved. Now low and behold, almost 6 years after the fact, we get a dunning notice from Alliance One stating they have been charged by Capital One to collect the "debt" which has somehow grown to $5600.44, and we have 30 days to respond. The temptation is to pitch it, as the Florida SOL has expired to my knowledge. Last charge we made on the account had been in 1998. I'd appreciate input in how to proceed. Thanks in advance.