Does paypal affect my credit rack up? i have a delinquent narrative on my paypal which my friend borrowed

i have a delinquent narrative on my paypal which my friend borrowed w/c is under my given name. now i get a letter contained by the mail from a collecting agency asking me to pay cheque! will this affect my credit score/history?

Answers:
many collection agencies will put it on your credit report as a delinquency.

This have nothing to do next to the fact that it comes from paypal.

so, the answer you are looking for is: yes, it can affect your credit.

but the answer to the sound out as asked is: paypal itself will not report it to the CRA's (credit reporting agencies).

send a communiqu�� to the collection agency disputing the validity of the charge in 30 days. this will many times brand them reject outright the collection job and it will bring sent back to paypal and not reported.

Any collection reported to the credit bureau will negatively affect your credit.

If you rate before it is reported it will not affect your credit rating. Try to settle paypal and not the collection agency.

A paypal account usually is not reflect on your credit report. However, an unpaid or delinquent paypal account will be reported to the credit agency. If it is already on credit report you can slickly dispute through the individual credit reporting agencies. If it is not yet reflect on your credit report try contacting paypal directly. If you look at their site map you should find a link to a dispute. If not beckon paypal directly. GOOD LUCK

You are responsible.

It will effect everything you have and will do surrounded by the future.

You want to collect from your "friend", and pay it bad, otherwise you need to reward it off - and presently it's delinquent. Call the company - that you now owe. Ask them to aid you with lower payments that you can afford. It is your bill.

GOD bless us other.
MBA-Boston Univ.
CPA-retired