Paypal credit balance gone and they are no longer taking payments from me ??

Whitebeast

Hi so I owe around £650 in PayPal credit I couldn't afford the interest and min re payment so they put me on a plan I have been on for 4 months £12 a month  no interest ect.
Which has be paid by DD. However I noticed last week the past 3 months they didn't take the £12 out my back and also the PayPal Credit section and the amount I owe ect is no longer showing Its like the debt has gone. I no I owe this amount and should pay it back but Im just not sure to tell them or to leave it and see what happens.
Im biggest worry is that its been passed on to a debt collector.

Has anyone ever had anything similar happen to them with paypal credit ?

jjmmww1

never seen that before but check the 3 main credit reports and see if its on there still? I would get in contact with them after checking that

km1500

I am guessing that if you didn't make the agreed payments for three months for whatever reason then the debt has been defaulted to debt collectors

obviously the only way to find out is to get in contact with PayPal

sourcrates

PayPal credit won`t be able to tell you anything, when a debt is assigned, it just vanishes off their system, the call handler will be non the wiser as to why.

They do not make their debt collection policy public, they don`t tend to sell their debts, but they do equitably assign them to 3rd party collection companies, such as Moorcroft/NCO Collections etc etc.

After at least 3 payments have been missed, an account can be defaulted, this is usually when they are sent to an external collection agency.

No doubt they will write to you soon, if that is the case.

Whitebeast

sourcrates said:

PayPal credit won`t be able to tell you anything, when a debt is assigned, it just vanishes off their system, the call handler will be non the wiser as to why.

They do not make their debt collection policy public, they don`t tend to sell their debts, but they do equitably assign them to 3rd party collection companies, such as Moorcroft/NCO Collections etc etc.

After at least 3 payments have been missed, an account can be defaulted, this is usually when they are sent to an external collection agency.

No doubt they will write to you soon, if that is the case.

This was last payment but they have not tried to take out any since I have always had the money only noticed yesterday when I went on that they didnt take any payments for 3 months even thou i had the ££ in account
Im ringing them now to see if they no anything but be on hold an hour !

Whitebeast

sourcrates said:

PayPal credit won`t be able to tell you anything, when a debt is assigned, it just vanishes off their system, the call handler will be non the wiser as to why.

They do not make their debt collection policy public, they don`t tend to sell their debts, but they do equitably assign them to 3rd party collection companies, such as Moorcroft/NCO Collections etc etc.

After at least 3 payments have been missed, an account can be defaulted, this is usually when they are sent to an external collection agency.

No doubt they will write to you soon, if that is the case.

They said that cause its a 3 month plan after 3 months I needed to ring them to schedule 3 more payments which would of been may june july and because I didnt thats why no payments came out they said they can set it back up starting next month for 3 months but I have to ring them after last payment to schedule more