Need Advice, Serious Question For People Who Have Been In Similar Situation

[Anonymous]

I have this so-called Paypal Credit Account that was never paid and now the creditor is Comenity Capital Bank. Anyways, all of the transactions are from February of 2012 - exactly 5 years now.  Interestingly enough, it's never appeared on my credit history as a delinquency or derogatory. For those who have been through this in the past, or for those who have sound advice, please advise whether to make the payment (approx. $200) or avoid the "attempt to collect a debt" letter - might be the better option if it goes away in two years (but I'm worried if I avoid it, it will appear as a baddie on my credit).  I've read that paying the $200 will start the 7 year progress all over again.  Help is very appreciated. Look forward to responses.

[stargazer25]

If you just received the first letter attempting to collect the debt and it hasn't shown up on your CR, pay it now! Once it gets on there it's not coming off. If you pay the $200 it is closed and is not subject to collection activity or restarting anything. Leaving it open means they can still add it to your credit report for those last 2 years even if you pay it off post fact. 

If you haven't received a letter still pay it off. 

[gdale6]

Nothing can restart the CRTP once the account is COed. Its max time is 7.5 yrs from the OCs DoFD which in your case would be in 2012.

[Anonymous]

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@Anonymous wrote:

I have this so-called Paypal Credit Account that was never paid and now the creditor is Comenity Capital Bank. Anyways, all of the transactions are from February of 2012 - exactly 5 years now.  Interestingly enough, it's never appeared on my credit history as a delinquency or derogatory. For those who have been through this in the past, or for those who have sound advice, please advise whether to make the payment (approx. $200) or avoid the "attempt to collect a debt" letter - might be the better option if it goes away in two years (but I'm worried if I avoid it, it will appear as a baddie on my credit).  I've read that paying the $200 will start the 7 year progress all over again.  Help is very appreciated. Look forward to responses.

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If the debt is yours pay it. It could appear at anytime on your files.

[Anonymous]

For what its worth I had a New  Egg   Account that had over $15,000 racked up on it and I never paid it due to over half of it being interest charges and their unwillingness to help me. It was the same type of com-capital retail bank. I also had a Pay Pal c redit account with $5K that was let go and never appeared.   This is about 2 years now. So I'm hoping they just never do anything about it.

[Anonymous]

Thank you for the replies. The thing is I don't really care about my FICO the next two years (I'm not buying a house and I have all the main credit cards I need); so if a collection did appear on my credit and if it will go away in two years well then I don't really feel the need to pay the $200. If it stayed for another seven years, then I would reconsider and promptly pay.

[Anonymous]

Having a collection appear on your credit files could flag your other creditors, thus the good possibility to impose adverse action against you. Credit line decreases and account closures.

So just be aware.