PayPal credit

[Anonymous]

Hi all been on the forums for a little while now and I’m lookijg to see if anyone has a question they can answer.

I have a PayPal credit account (comenity) they are changing to synchrony starting this summer. The account is in collections but is NOT on any of my reports. It’s been there since i was 18 and I’m now 23. I do get letters from time to time about a paying a portion to have the debt wiped.

My question is they’re changing to synchrony would they decide to put that on my report that it’s in collections? I can pay it no problem it’s only a few hundred bucks but I haven’t since it never got reported.

[Adkins]

---

@Anonymous wrote:
Hi all been on the forums for a little while now and I’m lookijg to see if anyone has a question they can answer.

I have a PayPal credit account (comenity) they are changing to synchrony starting this summer. The account is in collections but is NOT on any of my reports. It’s been there since i was 18 and I’m now 23. I do get letters from time to time about a paying a portion to have the debt wiped.

My question is they’re changing to synchrony would they decide to put that on my report that it’s in collections? I can pay it no problem it’s only a few hundred bucks but I haven’t since it never got reported.

---

Yes, if synchrony chooses to report the account. 

[Anonymous]

Kinda what I was thinking but wasn’t to sure. Since comenity sold off the debt to a collector and it want been reported. Would the chance of paying it make it show up anyways?

[Adkins]

---

@Anonymous wrote:
Kinda what I was thinking but wasn’t to sure. Since comenity sold off the debt to a collector and it want been reported. Would the chance of paying it make it show up anyways?

---

I don't know. If commenity sold the debt, then technically the debt belongs to the debt collector. Synchrony can still get the closed & deliquent account information from Comenity once everything is changed over and post that information though. (The original deliquent information doesn't go away from the original creditor when it's sold, it just goes to a zero balance. This is why you want to avoid this, because you'll have two dings on your credit report.) This situation has a lot of depends. You might want to post this in the rebuilding thread and ask RobertG about it - his technical knowledge is spot on! 

[Anonymous]

Thank you I’ll do that!

[Pikaboo-icu]

If Comenity sold it than I believe they no longer have the debt- thus Synchrony would not take it over as it belongs to a CA now.

That's my reasonable guess... Perhaps somebody else knows for certain.

That said; depending on the age, the collection agency can still report it, in the future.. 

Just because they haven't doesn't mean they wont, unless it's aged out. 

[Anonymous]

PayPal credit was never on my Credit profiles. I do understand that it could show up. I forgot the name of the company they sold the debt to, but synchrony is taking over accounts here shortly.

[UncleB]

Hi @Anonymous, I've merged your threads into one. 

Please don't cross-post the same topic on multiple boards... it's confusing to follow and is against our guidelines.  If you need a thread moved, just use the "Report Inappropriate Content" option to notify a moderator and we will take care of it.

--UB

[AverageJoesCredit]

I dont know much about collections, had one pop up last year and played havoc on my newly rebuilt credit profile for a few months, but were it me and I knew I had one floating out there that could possibly pop up at most inopportune time, I'd definitely try and pay it off if I had the means. Just my opinion of course.

[RobertEG]

A debt collector can report after payment, so to be sure they dont, you can contact the new owner (debt collector) and make them a pay for not reporting offer.

If they accept, you then have an agreed contract that will preclude their reporting once you pay.