Paypal question...

[mytraffichunt]

What will Paypal do if my closed account goes into negative by over 1,500 because of a chargeback?

I removed my credit card and bank account before I closed it.

I'm from the states.

 

[Checkmate]

What will Paypal do if my closed account goes into negative by over 1,500 because of a chargeback?

I removed my credit card and bank account before I closed it.

I'm from the states.

Had this happen before to me (scammer payment) and not nearly as much as $1,500.

The account gets locked and you can't access it until you pay the funds off.

NOW, if you ever want to open another Paypal account (a real account under your name) you are going to have to pay off those negative funds.

 

[mytraffichunt]

Had this happen before to me (scammer payment) and not nearly as much as $1,500.

The account gets locked and you can't access it until you pay the funds off.

NOW, if you ever want to open another Paypal account (a real account under your name) you are going to have to pay off those negative funds.

Account is closed already though, so what does locked mean?

Will Paypal try to collect the money somehow? Will it affect my credit score?

 

[Mad Gear]

A co-worker of mine removed his credit cards and checking account away from paypal because of a $800 dispute with a customer. I don't recall my co-worker mentioning paypal sending the money to collections, this was about 6 months ago when he removed his information. If you don't want to pay just keep an eye out for collections letters in the upcoming months and check your credit report.

 

[Checkmate]

Account is closed already though, so what does locked mean?

Will Paypal try to collect the money somehow? Will it affect my credit score?

Locked meaning when you try to login it's going to say "This account is locked due to..." but since you closed the account you aren't going to see that obviously.

Paypal does not try to collect the money (for me they didn't) but I didn't owe nearly as much as you did.

I'm sure eventually they will send a collection agency after you to get the funds just like eBay does if you don't pay their fees.

 

[mytraffichunt]

I appreciate the answers guys.

What are my options if it does indeed go to collections?

 

[g33k0f9x]

collections sucks!

 

[g33k0f9x]

you can pay it off though and avoid that, they will work with you.

 

[Checkmate]

I appreciate the answers guys.

What are my options if it does indeed go to collections?

I found this on Paypal's help center:

I have been contacted by a collections agency. What can I do?


If your PayPal account has maintained a negative balance for an extended amount of time, it may be sent to a collection agency working on behalf of PayPal.

This agency will contact you by phone or by post to request that you repay the amount owed and provide you with a range of payment options. We would request that you work with this agency in order to resolve the matter.

 

[mytraffichunt]

I'm more worried about my credit score getting screwed because of this. I'm not worried about getting another Paypal account, I already have one under my brother's name.

How much will it affect my credit score? I have a perfect credit history right now.

 

[Checkmate]

I'm more worried about my credit score getting screwed because of this. I'm not worried about getting another Paypal account, I already have one under my brother's name.

How much will it affect my credit score? I have a perfect credit history right now.

This thread should help you: http://www.blackhatworld.com/blackhat-seo/making-money/127606-can-paypal-touch-my-credit-score.html

 

[mytraffichunt]

This thread should help you

Thank you checkmate. That thread is full of good information, I'm going to bookmark it for later.