Paypal debts

[jakeisback123]

So my old paypal account from a year ago was neg 113 dollars, i decided to not pay it cause i was scammed and couldn't do anything now a year later debt collectors are calling my house "LOL" i had a fake address on there but my mom answered the phone idek what she said to em but do you think i should pay the debt or just leave it and ignore the calls?

 

[EpicNPC]

Pay it or it will ruin your credit which will cost you a LOT more than $113 in the long run. The lower your credit score the worse interest rates you'll get for loans which will end up costing you thousands of dollars. It might not matter now if you're young, but when the time comes to buy a car or house or anything else that you need a loan for you'll have a hard time getting a good interest rate.

 

[jakeisback123]

Even without my SSN? and im 16 isn't it illegal for them to pursue a minor for a debt?

 

[EpicNPC]

If they are calling your house, then they probably already know all the info about you they need to know.

I've heard of stories of parents with bad credit opening credit lines under their kids names and ruining there credit, so the fact you're only 16 doesn't matter. I don't think there is an age limit for when credit history starts to get recorded.

Im not an expert on this, although I'm fairly certain of what I posted, however I would still do more research to double check.

 

[insanelyodd]

Negative credit before you hit the age of 18? Sure, why not. You want a credit card? Not until you are 18. The system is the best!

 

[jakeisback123]

life of a trader

 

[therealsnafu]

Banned - You may not threaten this site or it's staff/users.

Paypal hands over negative balances to collection agencies after 60 days... if this happened a year ago chances are you've been on their list for several months. This is NOT good dude. You may be too young to realize it but your credit is one of the most important things you can have as an adult.

Pay it NOW or it will only get worse. Debt collectors don't just go away man... I still get calls asking where one of my family members is 12 years later (and he lives in a different state...)

And no, they don't give two craps how old you are and/or if you got scammed. They get paid by getting the money from you and have no problem ruining your credit forever... it's their job!

 

[Geek]

You're gonna want to pay that off. When I was younger I had an account go into the red, a few years later it haunted me when applying for credit. Active bill collections and negative dings on your credit add up. Contact the company who now handles your debt, work out a reasonable payment plan with them (they will accept it once they find out that's all you're capable of)

Well worth it to keep Paypal happy with you. I would be lost without them