Legal Question in Business Law in Florida

Yes it is legal as long as they have an assignment of the debt and bill of sale. They usually accept a lower lump sum payment or will work out a payment schedule with you.

Most commercial debts are transferrable at the creditor's option. This means a transfer does not require the debtor's approval. The transfer doesn't increase the amount of the debt or create harsher terms for the debtor. The buyer obtains the same rights and obligations the seller had. But the terms of most credit card debts can be changed upon notice from the creditor. When a buyer becomes the new creditor, it might choose to exercise those rights in ways that the seller hadn't.