Paypal credit

Superkitten76

Hi

As part of my debt management I Have a Paypal credit agreement that I stopped making payments to, which shows as closed and default on my clearscore account from December 24, but the login still shows the account open and they just keep sending me reminders of a missed payment. Has anyone had Paypal credit default before? Did it eventually move to debt collection, or do I need to set up a payment plan with Paypal direct now. I've never had official notice of the default in the post, just the generic emails and texts. 

sourcrates

PayPal is an American company, and although the majority of their financial products are FCA regulated now, they can fall short in their due diligence when it comes to things like sending default notices.

They usually assign Wescott or Moorcroft to manage their bad debts, you will likely hear from one of them at some point.

Sly72

I stopped making payments, had a balance and for some reason I was able to close my Paypal account. Made no payments for 12 months, no default then letter out of the blue saying the debt was cleared and no money due.