Did the right thing... but man, that hurt!

Anonymous · ‎01-12-2016

Yesterday I was reading about someone who had a collection from years ago show up regarding a PayPal account (not PayPal Credit).

This made me panic and I Googled to find that there are many cases of PayPal selling accounts to collections.

I've worked really hard to build my credit back and now waiting for a couple baddies to fall off. However, I've known all the while I owed PayPal $2,900 from a situation in 2013 which was ultimately my fault (though not intentional by any stretch).

I called them last night in a panic and they said my account was locked and that I owed that amount. I asked if I could pay it over time or if they could give me time to come up with that amount. She said they do not allow payment plans and that they cannot guarantee it won't be turned over to a collection agency (she said it could happen at anytime).

So, reading about cases of them turning accounts over to collection agencies and knowing this was a sizable amount I just bit the bullet and gave them a credit card number to get it paid off.

I will pull some money from stocks to cover my credit card... and I know I did the right thing, but **** that hurt, lol.

Pway · ‎01-12-2016

I totally understand. I had to do the same thing for my college tuition bill, it was sent to collections and in 30 days it would show up on my credit. I paid the 2k to protect my credit. It hurt really bad but then I had to think about my credit and the damage it could do for a long time.

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.

Gunnar419 · ‎01-12-2016

Good for you. Man, it must be hard to have to make a big payment like that out of the blue. But congratulations on manning up (or womaning up) and doing the hard but good thing.

Anonymous · ‎01-12-2016

Yeah... seeing firsthand the damage hits can cause (and a goal of home ownership this year), there really was no choice.

I don't even know if they would ever sell it off to CA (since they haven't in 2.5 years!) but it's a risk that I cannot take. And at the end of the day, it is money they are owed and deserved.

Grafton88 · ‎01-12-2016

It will hurt for a while but I think you did the right thing. Getting everything bad off of your record, no matter the circumstances, will be better in the end.

Good luck on your rebuild.