Who is PayPal?
PayPal Holdings, Inc., headquartered in San Jose, California, is an American company that operates an online payments system in multiple countries worldwide. It serves as a convenient electronic alternative to traditional paper methods like checks and money orders.
If PayPal appears on your credit report as a collections account, it suggests you’ve defaulted on payments. This could be related to your PayPal account balance, a PayPal Credit account, or a PayPal-branded credit card.
How can I remove PayPal Collections from my credit report?
Collection accounts can impact your credit score for up to seven years, so it’s essential to address them promptly. To remove collections from your report, start by disputing any errors related to the account with the credit bureaus.
If the information is accurate, consider negotiating a “pay-for-delete” agreement, where you offer payment in exchange for the account’s removal. Another option is to work with a credit repair service that specializes in challenging collections.
Ready to Clean Up Your Credit Report?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
PayPal Contact Information
Address:
PayPal
2211 N 1st St.
San Jose, CA 95131
Phone number: (402) 935-2258
Should I contact or pay PayPal?
Before contacting a debt collection agency, verify that the debt is legitimate and accurately reported. Credit reports can contain errors or list debts that are no longer valid. Also, be aware that making payments on a debt can reset the clock and potentially harm your credit.
The most effective way to deal with PayPal collections is to work with a credit repair professional. They help remove millions of negative items every year from companies like PayPal on behalf of their clients.
Will PayPal Collections sue me or garnish my wages?
PayPal, like any creditor, is entitled to take steps to collect money owed to it. If you have a significant outstanding debt, it is technically possible for PayPal to file a lawsuit against you to recover the funds.
If PayPal wins the lawsuit, they could potentially obtain a judgment from the court, allowing them to garnish your wages or take other actions, depending on the laws in your state.
However, it’s essential to note that lawsuits and wage garnishments are generally seen as last-resort measures. Before resorting to these actions, PayPal, like most companies, would likely attempt to contact you to arrange a payment plan or seek other forms of resolution.
PayPal Collections Complaints
Many collection agencies have numerous complaints filed with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you are being harassed, consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include disputing credit reporting errors and being treated fairly and respectfully by debt collectors.
Your Rights When Dealing with PayPal Collections
Debt collectors must follow state and federal laws. The Fair Debt Collection Practices Act (FDCPA) prohibits abusive, unfair, or deceptive practices and ensures your rights are protected:
- It is a violation of federal law for PayPal Collections to report inaccurate or incomplete information about you.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. They have 30 days to prove the debt is yours and the amount is accurate.
- PayPal Collections cannot threaten or harass you, call repeatedly, swear at you, or publicly publish a list of debtors.
- PayPal Collections must be honest about who they are and their purpose. They must notify you in writing and verbally that they are a debt collection agency.
- PayPal Collections cannot threaten to have you arrested or imprisoned for unpaid debts.
Remove PayPal Collections From Your Credit Report Today!
Credit Saint offers assistance with disputing PayPal collections. With over 15 years of experience, they have worked with clients to address incorrect entries on credit reports.
If managing collection accounts feels overwhelming, working with a trusted credit repair company could be a helpful step toward improving your credit.
Visit their website or call (855) 281-1510 for more details.
