Opinions Please

[estrickland1]

I applied for a PayPal credit card (Comenity) and was instantly denied. Today I received a collection letter stating that I have a pass due balance of $948.36 and they are willing to settle at 45%. I have no idea how or why I owe them money...but there is a very slim possibility that I bought something years ago with BuyItNow. It isn't on either of my credit reports. Now I'm afraid they'll reopen it and bring down my score (another baddie). $427 is a lot. I could put it all on my latest card but then I'd have a high balance...I'm confused.

[Anonymous]

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@estrickland1 wrote:

I applied for a PayPal credit card (Comenity) and was instantly denied. Today I received a collection letter stating that I have a pass due balance of $948.36 and they are willing to settle at 45%. I have no idea how or why I owe them money...but there is a very slim possibility that I bought something years ago with BuyItNow. It isn't on either of my credit reports. Now I'm afraid they'll reopen it and bring down my score (another baddie). $427 is a lot. I could put it all on my latest card but then I'd have a high balance...I'm confused.

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Paypal Credit used to be Bill Me Later.  It doesn't show on credit reports usually.  If you pay less than the full amount, they can put that you settled for less than the full amount.  I don't know if they will since they don't usually report, but they can.