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PayPal Credit default
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sourcrates said:
The account only defaults once, what you see are the monthly status updates.now243 said:I'm in a similar boat, I've had a default registered on me each month sinch September 2022 but no further communication.
Defaults stay on file for 6 years, PayPal, to date, never sell debts nor issue proceedings through the courts, however they do use collection agencies.
Eventually the debts will become statute barred in most cases.
Paypal credit sold mine to Lowell!
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Sorry, should have made my post clearer, I was referring to PayPal debts, not PayPal credit debts.MrRichTea said:sourcrates said:
The account only defaults once, what you see are the monthly status updates.now243 said:I'm in a similar boat, I've had a default registered on me each month sinch September 2022 but no further communication.
Defaults stay on file for 6 years, PayPal, to date, never sell debts nor issue proceedings through the courts, however they do use collection agencies.
Eventually the debts will become statute barred in most cases.
Paypal credit sold mine to Lowell!
By PayPal debts I mean unpaid eBay transactions, selling fee`s etc.
I understand they do sell debts from their credit products that default, sorry for the mis-understanding.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
They are still contacting me each month about missed payments and are still seeking minimum payments etc…status remains the same0
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@ sourcrates"Eventually the debts will become statute barred in most cases." is this from the last day you made a payment to them?sourcrates said:
The account only defaults once, what you see are the monthly status updates.now243 said:I'm in a similar boat, I've had a default registered on me each month sinch September 2022 but no further communication.
Defaults stay on file for 6 years, PayPal, to date, never sell debts nor issue proceedings through the courts, however they do use collection agencies.
Eventually the debts will become statute barred in most cases.I have Dyslexia which is a learning difficulty that primarily affects the skills involved in accurate and fluent word reading and spelling so some post may not make sense.0 -
Either that or the date of default, you can argue either would be correct.Sly72 said:
@ sourcrates"Eventually the debts will become statute barred in most cases." is this from the last day you made a payment to them?sourcrates said:
The account only defaults once, what you see are the monthly status updates.now243 said:I'm in a similar boat, I've had a default registered on me each month sinch September 2022 but no further communication.
Defaults stay on file for 6 years, PayPal, to date, never sell debts nor issue proceedings through the courts, however they do use collection agencies.
Eventually the debts will become statute barred in most cases.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Only one not to default to date!!!!sourcrates said:
Either that or the date of default, you can argue either would be correct.Sly72 said:
@ sourcrates"Eventually the debts will become statute barred in most cases." is this from the last day you made a payment to them?sourcrates said:
The account only defaults once, what you see are the monthly status updates.now243 said:I'm in a similar boat, I've had a default registered on me each month sinch September 2022 but no further communication.
Defaults stay on file for 6 years, PayPal, to date, never sell debts nor issue proceedings through the courts, however they do use collection agencies.
Eventually the debts will become statute barred in most cases.I have Dyslexia which is a learning difficulty that primarily affects the skills involved in accurate and fluent word reading and spelling so some post may not make sense.1 -
My PayPal credit debt has been sold to Lowell now0
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How does it work with PayPal credit in terms of requesting a CCA if they are not FCA regulated?0
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Some, of PayPal's credit products are not FCA regulated, pay in 3 for example is not, but PayPal credit is.freshstart2023 said:How does it work with PayPal credit in terms of requesting a CCA if they are not FCA regulated?
PayPal credit is regulated by the consumer credit act and so is subject to all terms and conditions of that act the same as any other regulated credit agreement.
However as its entirely electronically based, any CCA would be in a digital format, and will likely be available to you.
There won`t be, and never was, a paper copy.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1
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