I tried to settle an old account with a collection firm, and even started to negotiate. But then, I wanted to be sure that they own it, and I asked them about the details of the account. I asked about how much I owe them, how much is paid and all. They refused and told me they are not bound to tell that. They threatened me instead, and told they would sue me if I don't pay. Can they do that?

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Did all of this happen verbally or over phone? You need to send them a validation letter, that too in writing. They are supposed to give you the name of the original creditor and the amount you owe. Don't pay anything till you're sure that they own the account. It might be a scam.

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