Hey everyone,
I need some advice. I had a PayPal Credit balance of $2,400. In August, I paid the minimum $92, and then when I checked my statement, it showed the full $2,400 balance as PAID.
I downloaded the official PDF statement that clearly says “PAID”, and at first, I thought my balance was zero. But a few days later, the $2,400 balance came back as due again.
Now I’m confused:
- The statement says PAID.
- The money never left my bank account.
- The balance has returned, and it looks like I still owe it.
I also recently found out that PayPal originally opened my account using the wrong Social Security number. When I submitted my documents to fix it, they ended up closing my account completely.
My question is: Should I still pay this debt, or just wait and see if it ever goes to collections?
Has anyone had a similar experience with PayPal Credit marking accounts as paid by mistake, reversing the balance later, and how it affected your credit or collections?
Any advice would be really appreciated!
PayPal Credit marked my account as PAID, but the balance came back, what should I do?”
byu/Remarkable-Simple930 inpersonalfinance
Posted by Remarkable-Simple930
4 Comments
That’s how ACH works. They are kind enough to take your word for it, and if your bank bounces the payment it takes a few days for it to get reversed.
Pay what you owe, just because they made an error with your SSN doesn’t mean you don’t owe it.
You didn’t pay it. It’s not paid. That’s all that matters. A wrong statement or other administrative error doesn’t make the debt go away. You still owe the money. If you never had a paypal account and you woke up one day and found out they claimed you owed them, would it mean you really owed them? Of course not. Same thing in reverse. until you **actually** pay it, it’s not paid. Paypal is letting you know with this revised statement that you still do in fact owe the money. Ignore at your own peril.
As someone who got their PayPal account closed, it did effect my credit score until they closed it. But the damage had already been done.
They kept asking more and more every month until I need to pay the full £2k.
If you want to keep your account, then I’d recommend contacting them and seeing if you can do a monthly plan to pay it off, if not then eventually it’ll be closed.
So the end result is that you did *not* pay off your balance, and Paypal currently reflects that correct position?
You still owe the money, and I suspect you know that.
Ain’t no such thing as a free lunch, man.