[Kookie]

I have a new debt on my CR (02/08)that I am going to pay but I want it removed from my credit report. I contacted the CA by telephone and asked them if I pay off the debt in full if they can send me something in writing saying they will remove the debt entry from my credit report. He informed me that the entry will not be removed, it will simply be updated to say "Paid Zero Balance" This is not a credit card, this is paypal. Is he being honest? Can't they contact the CRA and request that it be removed? I would much rather have this removed than have it updated with "Paid Zero Balance" What can I do to get this removed. I'm not even trying to negotiate a lesser amount.

This was a mistake on paypal's part where my account was phished and used for online gambling and when they noticed the suspicious activity they stopped one of the transaction, & held the funds in my paypal account. I contacted them and & my bank and all the money used was refunded to my bank account, the transaction that they stopped was taken out of my bank account but was sitting in my paypal account, they refunded that amt as well to my bank account (so I received that amount twice, once in my bank account and the other sitting in my paypal acct) I left it there for 6 months and then never picked it up, so i ended up using it, then a year later they released that amt to the casino and my paypal account was negative that amount.

[Pale Rider]

Can they remove? Yes, reporting is voluntary.

Are they required to remove? No.

As long as they are reporting accurately, they can keep it on there for the full 7 years. They may also have a contract with the CRA's not to remove the tradeline, unless it was reported in error to begin with. I could go on and on about how this is just another flaw in the system, but they do have the right to report accurate information.

If I read correctly, you got double back what you should have, so the account should have been left alone to pay them back. The length of time to correct was not handled properly, but you also had a part in the matter. So, the best thing would probably be to pay it. You might hold out a little longer and try negotiating the deletion, but you run the risk of more fees added on. If you had some violations to leverage them, then you might have a better chance at getting them to delete.

[Kookie]

Is "Paid Zero Balance" that bad? Should I go ahead and pay it and have it say "paid zero balance" or should I still try to get it removed? I thought all they really want is their money, If I'm offering to pay the complete amount in full, why don't they just cooperate and delete the entry?