topic Re: Missing paypal debt in Rebuilding Your Credit

Missing paypal debt

Anonymous — Fri, 18 Aug 2017 19:19:19 GMT

A year ago I got into a mess and let 4 credit cards go into collection. I have never recieved anything on this paypal account and nothing showing on any of my credit reports. I am not even showing the actual account with the creditor on any of the reports. The account is for around $600. If at all possible, I wanted to pay it before it does show on my credit report as a collection. Is there a chance it dissapeared since it never even shows initially on the credit? Does that happen? or should I contact paypal to play it safe? Thank you in advance

Re: Missing paypal debt

Failingupwards — Fri, 18 Aug 2017 21:12:56 GMT

I received a letter from a collection company about a month ago (Convergent Outsourcing) about a BillMeLater account I had completely forgotten about in my rebuilding. I've sent a DV letter and I'm waiting for a response.

Re: Missing paypal debt

RobertEG — Fri, 18 Aug 2017 22:42:37 GMT

Initial reporting by either a creditor or a debt collector is voluntary. One or the other, or both, my choose either to report or not to report.

Additionally, a party must have a credit reporting agreement with a CRA in order to report, and some parties do not qualify for reporting, while others may choose not to undergo the time/expense of reporting.

Even if you now chose to pay the delinquent debt, that alone would not preclude their ability to report to a CRA.

However, if they have chosen in the past not to report, chances are usually good that they wont report if you pay the debt.

To ensure they wont report, you can first send an offer to pay that includes an express agreement not to report to a CRA.

If they accept the pay for not reporting offer, you have an enforceable contract agreement that will prevent their reporting.

Re: Missing paypal debt

Anonymous — Sun, 20 Aug 2017 15:37:20 GMT

PayPal doesnt report to the CRAs.