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Hey, yes it will, when you signed up with PayPal you agreed to terms and conditions which basically gave them the right to retrieve money owed to them using any means nessesary, which also gives them the right to report your to credit services which will have an impact on your credit rating, same thing happened to me but i just paid it off even though it was totally a scam and not my fault.
What else can I help you with?
When does accounts receivable have a credit balance?
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
What does it mean if your account has a minus sign?
IT most likely means that your overdrawn on your account and its at a negative balance.
What is the balance in the account after the cheque is written out?
The balance of an account is the cash that is in it at any given time. It may be a positive or, if you have been given permission, negative amount.
What if your bank statement arrived. You had a balance of -52.79. After the 307.74 deposit from Rolands Bookstore what is your new account balance?
To find your new account balance, start with the negative balance of -52.79 and add the deposit of 307.74. This calculation results in -52.79 + 307.74 = 254.95. Therefore, your new account balance is 254.95.
Is overdraft asset or liability?
An overdraft is considered a liability. It occurs when a bank account holder withdraws more money than is available in their account, resulting in a negative balance. This negative balance represents a debt owed to the bank, which the account holder must repay, making it a liability on their financial statements.
Will having a negative balance in an unused checking account affect your credit rating?
No, having a negative balance in an unused checking account will not directly affect your credit rating. However, if you fail to pay off the negative balance and the account is sent to collections, that could potentially have a negative impact on your credit rating.
What is the term used for a negative checking account balance?
"Overdrawn" is the common term used to describe a negative checking account balance.
What is a negative account?
Below 0 balance.
Has negative current account balance always negative impact on the economy?
yes
Has negative current account balance always negative impact on economy?
yes
Does closing a savings account hurt your credit score?
Closing a savings account does not directly impact your credit score because savings accounts are not reported to credit bureaus. However, if you have a negative balance or owe fees when closing the account, it could be sent to collections and affect your credit score.
How does closing a savings account affect my credit score?
Closing a savings account does not directly affect your credit score because savings accounts are not reported to credit bureaus. However, if you have a negative balance or owe fees on the account, it could be sent to collections, which could then impact your credit score.
How does closing a savings account impact your credit score?
Closing a savings account does not directly impact your credit score because savings accounts are not reported to credit bureaus. However, if you have a negative balance or owe fees on the account, it could be sent to collections and that could affect your credit score.
What is the term for the amount of money you have in your account?
The amount of money available in an account is usually referred to as the "balance" of the account. The cash balance may be positive or negative.
When does accounts receivable have a credit balance?
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
How can I obtain a cash advance with a negative balance?
It is generally not possible to obtain a cash advance with a negative balance. Cash advances are typically given based on a positive account balance or credit limit. If you have a negative balance, you may need to first deposit funds to bring your account to a positive balance before requesting a cash advance.
What does it mean if your account has a minus sign?
IT most likely means that your overdrawn on your account and its at a negative balance.
