topic Help with next steps....Bill Me Later / Paypal Credit / Synchrony / ACI in Rebuilding Your Credit

Help with next steps....Bill Me Later / Paypal Credit / Synchrony / ACI

800goal800 — Tue, 06 Oct 2020 13:00:32 GMT

My wife had a PayPal Credit account that I guess was serciced by Bill Me Later. My understadning is that this is now part of Synchrony Bank. No OC has ever reported.

Data:

We believe the account was opened some time in 2013 or 2014.

Best guess is date of last payment mid 2015 but not sure since not on credit report. SOL in my state is 5 years

Unsure of date of first deliquency since not on crdit report. I doubt my lsat payment brought me current.

Account is now with ACI / American Coradius and lists the creditor as Synchrony Bank.

ACI offered 50% off in their letter. My primary concern is if I engage them and/or Synchrony, it may be reported. I do understand it could be reported at any time regardless

Since we are in the market for a house, I'd like to stay in front of this.

Is anyone familair with ACI or could suggest ideal next steps to avoid reporting ?

Re: Help with next steps....Bill Me Later / Paypal Credit / Synchrony / ACI

Brian_Earl_Spilner — Tue, 06 Oct 2020 13:14:57 GMT

Tell them you'll accept the offer if they will not report the account. Get it in writing.

Re: Help with next steps....Bill Me Later / Paypal Credit / Synchrony / ACI

800goal800 — Tue, 06 Oct 2020 13:56:37 GMT

ACI says they dont report...never have...and have no plans to ( for what it is worth ). Will not send a letter. Said the 50% can be paid over six months. They also said PayPal Credit does not report....but....I'm now hearing that since Synchrony bought that they are now starting to report...is this true....

According to the rep the account last made a payment on 12/13/2015 ( so in SOL for 2 months ) and was charged off 7/17/2016.

If I pay ACI....I'm assuming its possible that once they notify Synchrony that the acount is paid/settled...they coould now start reporting.

Any thoughts ?

Re: Help with next steps....Bill Me Later / Paypal Credit / Synchrony / ACI

Brian_Earl_Spilner — Tue, 06 Oct 2020 14:15:27 GMT

Yes, it's true, they are reporting, and them getting paid will trigger an update to show 0 balance IF the CA is collecting on behalf of Synchrony. If they bought the debt, Synchrony wouldn't be notified.

Re: Help with next steps....Bill Me Later / Paypal Credit / Synchrony / ACI

800goal800 — Tue, 06 Oct 2020 14:52:44 GMT

ACI says they are collecting for Synchrony so it doesn't sound like they own the debt...

While everyone is different....what would you do ?

Re: Help with next steps....Bill Me Later / Paypal Credit / Synchrony / ACI

AndySoCal — Tue, 06 Oct 2020 17:27:41 GMT

This link may help you. https://www.paypal.com/stories/us/paypal-and-synchrony-complete-consumer-credit-receivables-sale

Synchronny Bank is now handling the credit card part of Paypal. What was sold or not sold to them is a guess at best.