Purchasing a Company's Expired Domain Name

My question involves collection proceedings in the State of: USA

So I received notice that a company called Elite Recovery Services was collecting on a debt that I allegedly owe them. I 1st called THE WRONG COMPANY! I was advised by the wrong company, who also the name "Elite Recovery", that there are MANY companies with that name.
I finally tracked-down, "my" Elite Recovery... and well, it appears that they are NOT in business any longer. All of the links pointing to their old site went to a domain for sale.
So I BOUGHT IT!
I have posted a message forgiving any debt with my new business http://eliterecoveryservices.com/ How far can I go with this?

You can't forgive debt not owed to you, regardless of what domain name you may have purchased.

Thank-you. I am wondering how I can be helpful to other people and also I do not want to be responsible for any wrong doings that are done in the name of the defunct company. Since I will not and cannot forgive debts that are not owed to myself, I also want to be sure that I am not responsible for collection activities that are being pursued with the name of the company-since my business is mainly a domain/website.
Simply--if someone were to sue them, I do not want to be responsible.

If you put something up on the website, such as information on what to do if hounded by a debt collector, or a consumer complaints board, that will in no way make you responsible for the former owner's actions or obligations. The legal ramifications of pretending to be them? You don't want to go there, but your site makes it very clear that you're not the company. (Perhaps you changed the content, as I was expecting something different based upon your description, "I have posted a message forgiving any debt with my new business" - if so, good move).