Scammed $6k Paypal from Bitcoin sale :(

[Frap]

Just venting out my anger, seeing if anyone had anything similar to this?

I trade about $50k - $100k Bitcoin a month on LocalBitcoins & Paxful. I use various payment methods including Paypal, Cash Deposit, Moneygram etc...

I legit just got $6k in chargeback fees from Paypal 3 weeks ago from different accounts, im like WTF?

Obviously I disputed the chargebacks and called Paypal. They said nothing can be done since it was virtual goods, i knew that. But I questioned them saying they are allowing buyers to receive items and issue an unauthorized charge? Are you serious?!

I know there is nothing to do to the buyer, probably using bunch of stealth accounts or whatever, can't prove anything anyways.

My paypal is like negative -$5500 now and I really don't want to pay that lol. It sucks, my 10+ year Paypal account. I'm probably not going to pay it. I'm guessing this goes to collections?

I probably will pay it if I ABSOLTELY have to lol. But I doubt it. Friend told me they won't stop harassing me with calls and mail etc...

Can anyone provide insight? Has anyone had a negative balance this big before?

Thanks!

*UPDATE

Lmfao, so I just talked to one of my Linkedin Connections that works at Paypal, this is what he said:

You will Never win a transaction against a buyer with Paypal with Virtual.

If you do not return the $$ in your paypal account, nothing will happen for another 12 months. After 8-12 months they may send you a collection notice from NCO financial which will give you 3 offers for you to pay the debt.

1) They will try to collect the full amount $900

2) If you do not respond, they will send you another notice about 2-3 months from the first one.

3) They will let you make payment plans.

4) They will drop the debt a little.

Can anyone vouch for this?

 

[DonMillion]

Run!

 

[Jklmno]

You should have asked paypal F&F

 

[Frap]

All trades are done with Goods and Services when buying selling Bitcoin. Thats to avoid fees on seller's end.

 

[awesomewebsites]

Next time use Escrow for this.

 

[Local SEO]

PayPal is risky business. You should keep capital aside for risk management.

Nothing you can do. You have to pay them anyway.

 

[john1444]

Had same issues here. I sell virtual products and sold a value of $3,200 to a client who later disputed it and won. This happened about a month ago, I don't have the funds to pay it and am about to be homeless. PayPal sucks, I haven't been answering their calls and responding to their email.

And guess how this ended, they ask me to provide additional evidence so I quickly wrote in the note and ask them to give me 30 mins to compile it. Before I could submit the additional evidence they've already taken their decision and ruled against me. All my appeal fell on deaf ears.

I'm still owing the shitty company PayPal and will be homeless by march ending. Thanks to PayPal for ruining me.

 

[Lukmat]

I have 2k$ on business account and they are using now debt collector company. I said to this local company "fck off" because step between seller and buyer it's against law in most countries, paypal have not any formal law except their terms&conditions. I don't know how in USA but in Europe?
I told to PayPal and debt company that we can meet in local court because I am 100% sure my win. Also if they continue calls and sending emails, ill sue them for stalking.

 

[Frap]

Had same issues here. I sell virtual products and sold a value of $3,200 to a client who later disputed it and won. This happened about a month ago, I don't have the funds to pay it and am about to be homeless. PayPal sucks, I haven't been answering their calls and responding to their email.

And guess how this ended, they ask me to provide additional evidence so I quickly wrote in the note and ask them to give me 30 mins to compile it. Before I could submit the additional evidence they've already taken their decision and ruled against me. All my appeal fell on deaf ears.

I'm still owing the shitty company PayPal and will be homeless by march ending. Thanks to PayPal for ruining me.

Sorry to hear that man. Did Paypal immediately limit your account or are you still in good standing and just negative -$3200?

I really really don't want to pay them lmfaoooo. The only way I'm paying them is they threaten to issue a judgement or if I really need to keep my Paypal account for business. FCKKKK

and WTF? So is this like a regular thing? I see several of you have similar recent problems! This is crazy, how does Paypal not have a solution for this? And why is it they wont protect seller for virtual goods?

They are pretty much saying, "Yes you can sell whatever you want and use our services, but we can't promise you that buyer won't chargeback and win... even if you send goods!"

 

[Baropi]

New PayPal policy next month may give you an advantage against chargeback or dispute like that, it's U.S account only though.

Buyer won't be covered with guarantee if what you claim to sell is a service

 

[Frap]

New PayPal policy next month may give you an advantage against chargeback or dispute like that, it's U.S account only though.

Buyer won't be covered with guarantee if what you claim to sell is a service

Ooooo so 2 more weeks, i hope thats accurate. I am in the US.

 

[Baropi]

https://www.paypal.com/us/webapps/mpp/ua/upcoming-policies-full

Just bill them as a service, it's pretty close anyway. Even though what you're selling is virtual item but in a way it's a service like money exchange or some sort.

 

[Jklmno]

Had same issues here. I sell virtual products and sold a value of $3,200 to a client who later disputed it and won. This happened about a month ago, I don't have the funds to pay it and am about to be homeless. PayPal sucks, I haven't been answering their calls and responding to their email.

And guess how this ended, they ask me to provide additional evidence so I quickly wrote in the note and ask them to give me 30 mins to compile it. Before I could submit the additional evidence they've already taken their decision and ruled against me. All my appeal fell on deaf ears.

I'm still owing the shitty company PayPal and will be homeless by march ending. Thanks to PayPal for ruining me.

You should have asked paypal F&F

 

[royserpa]

Just venting out my anger, seeing if anyone had anything similar to this?

I trade about $50k - $100k Bitcoin a month on LocalBitcoins & Paxful. I use various payment methods including Paypal, Cash Deposit, Moneygram etc...

I legit just got $6k in chargeback fees from Paypal 3 weeks ago from different accounts, im like WTF?

Obviously I disputed the chargebacks and called Paypal. They said nothing can be done since it was virtual goods, i knew that. But I questioned them saying they are allowing buyers to receive items and issue an unauthorized charge? Are you serious?!

I know there is nothing to do to the buyer, probably using bunch of stealth accounts or whatever, can't prove anything anyways.

My paypal is like negative -$5500 now and I really don't want to pay that lol. It sucks, my 10+ year Paypal account. I'm probably not going to pay it. I'm guessing this goes to collections?

I probably will pay it if I ABSOLTELY have to lol. But I doubt it. Friend told me they won't stop harassing me with calls and mail etc...

Can anyone provide insight? Has anyone had a negative balance this big before?

Thanks!

*UPDATE

Lmfao, so I just talked to one of my Linkedin Connections that works at Paypal, this is what he said:

You will Never win a transaction against a buyer with Paypal with Virtual.

If you do not return the $$ in your paypal account, nothing will happen for another 12 months. After 8-12 months they may send you a collection notice from NCO financial which will give you 3 offers for you to pay the debt.

1) They will try to collect the full amount $900

2) If you do not respond, they will send you another notice about 2-3 months from the first one.

3) They will let you make payment plans.

4) They will drop the debt a little.

Can anyone vouch for this?

Create as many pp accounts as you can to hedge the risk.

That's the only solution with paypal.

 

[Jklmno]

All trades are done with Goods and Services when buying selling Bitcoin. Thats to avoid fees on seller's end.

Ask for bank transfer or any riskless method that do not cost money or actually just charge more fee to buyers

 

[Frap]

Yeah guys, I kinda know what I should've down. Escrow was done. Its just that theres nothing you can do when the buyer files unauthorized charge on credit card... Bank will always side with them. I'm not even going to dispute the other chargebacks cus I know what the answer will be.

I do think that it could be the same person using hacked paypal accounts to buy Bitcoin but fck it don't even matter lmaooo.

I don't even think paypal investigates this? Do they?

Has anyone had a similar situation? -$500+? What happened? I'm guessing you didnt pay lmao , I wouldn't. Paypal is full of crooks!

 

[Lukmat]

Just venting out my anger, seeing if anyone had anything similar to this?

I trade about $50k - $100k Bitcoin a month on LocalBitcoins & Paxful. I use various payment methods including Paypal, Cash Deposit, Moneygram etc...

I legit just got $6k in chargeback fees from Paypal 3 weeks ago from different accounts, im like WTF?

Obviously I disputed the chargebacks and called Paypal. They said nothing can be done since it was virtual goods, i knew that. But I questioned them saying they are allowing buyers to receive items and issue an unauthorized charge? Are you serious?!

I know there is nothing to do to the buyer, probably using bunch of stealth accounts or whatever, can't prove anything anyways.

My paypal is like negative -$5500 now and I really don't want to pay that lol. It sucks, my 10+ year Paypal account. I'm probably not going to pay it. I'm guessing this goes to collections?

I probably will pay it if I ABSOLTELY have to lol. But I doubt it. Friend told me they won't stop harassing me with calls and mail etc...

Can anyone provide insight? Has anyone had a negative balance this big before?

Thanks!

*UPDATE

Lmfao, so I just talked to one of my Linkedin Connections that works at Paypal, this is what he said:

You will Never win a transaction against a buyer with Paypal with Virtual.

If you do not return the $$ in your paypal account, nothing will happen for another 12 months. After 8-12 months they may send you a collection notice from NCO financial which will give you 3 offers for you to pay the debt.

1) They will try to collect the full amount $900

2) If you do not respond, they will send you another notice about 2-3 months from the first one.

3) They will let you make payment plans.

4) They will drop the debt a little.

Can anyone vouch for this?

Just don't pay. I don't know if you are from USA, because it's law weird. But even that I would wait for court. If they want money, they need to sue you.
I am waiting with my 2k$ and I don't care. The only legal way to dispute buyer&seller is court between buyer&seller, not some 3rd party company decision.
For me, even your 5k$ debt just not exist from legal side. They just think that they can scare you and they have right, 90% users will pay.

 

[Frap]

Just don't pay. I don't know if you are from USA, because it's law weird. But even that I would wait for court. If they want money, they need to sue you.
I am waiting with my 2k$ and I don't care. The only legal way to dispute buyer&seller is court between buyer&seller, not some 3rd party company decision.
For me, even your 5k$ debt just not exist from legal side. They just think that they can scare you and they have right, 90% users will pay.

Yeah bro, I'm completely aware that Paypal is just a payment processor. They can AT MOST ask for the money and sell to a debt collection agency. I am from US.

I kinda know how to go about it. Was just venting and seeing what people with similar situations have done. Thanks for your input!

 

[john1444]

My account is only in negative balance, it's still in good standing order.

I love most of the comments coming here too. My priority is my life and not the fictitious dept am in.

Sorry to hear that man. Did Paypal immediately limit your account or are you still in good standing and just negative -$3200?

I really really don't want to pay them lmfaoooo. The only way I'm paying them is they threaten to issue a judgement or if I really need to keep my Paypal account for business. FCKKKK

and WTF? So is this like a regular thing? I see several of you have similar recent problems! This is crazy, how does Paypal not have a solution for this? And why is it they wont protect seller for virtual goods?

They are pretty much saying, "Yes you can sell whatever you want and use our services, but we can't promise you that buyer won't chargeback and win... even if you send goods!"

 

[simplevinc]

You will Never win a transaction against a buyer with Paypal with Virtual.

This is really weird. I am a buyer using Paypal since 2009. I got scammed sometimes and only open 3 disputes so far and guess what? I lose them all. All of them are virtual items. Got scammed again today so i search and found this thread. Open my 4th disputes now but i think it is hopeless. Looks like Paypal always side with the "fault" side or my Paypal account is cursed. Fuck.