1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

extreme negative balance on paypal.. what are my outs??

Discussion in 'Ebay' started by alex33, May 19, 2014.

  1. alex33

    alex33 Newbie

    Joined:
    Mar 22, 2014
    Messages:
    38
    Likes Received:
    4
    Need Help.. Stressed beyond belief...what are my outs.. ?

    long story short i dug myself a huge hole that i cant seem to get out of on paypal.. i was selling some items on pre order and purchasing my inventory overseas.. a huge order i recently placed with my supplier got stopped and seized at customs.. now i am out $6k and the shady company i was buying from will not refund me the money.. (no surprise there)
    the problem is i have no back up funds to cover my losses and refund my customers..so in short i have alot of angry customers opening dispute claims on paypal for "item not received" and i cannot refund anyone since i am broke ...
    what will happen if i can not and do not clear my negative balance..?
    i know paypal will eventually send my negative account to collections but will this affect my already poor credit score or worse??
    also i have all my real information on file bank account, cc ,etc.. would they actually take me to court?? or will they try to take funds from my bank account (my part time job check gets direct deposited into same bank account but i can always tell my job to cancel direct deposit..)
    also what i am more concerned about is will paypal reimburse the buyers that do not receive there merchandise? its one thing if i have paypal collections on my ass but it will be worse if i have angry customers trying to hunt me down as well..

    i have tried to get a loan but of course denied due to poor credit ... do not have any family or friends who can bail me out.. i see no possible way to get this resolved..this was the main part of my income as well.. with no savings and only a part time job .. i will be on the street in no time unless i can start selling again

    Any serious helpful advice would be GREATLY appreciated...
    IF YOU HAVE NOTHING POSITIVE TO ADD PLEASE DO NOT COMMENT..
     
  2. Alkanphel

    Alkanphel Junior Member

    Joined:
    Mar 7, 2011
    Messages:
    100
    Likes Received:
    19
    First, can you do a chargeback on yours or the customers Credit cards? (whoever paid the 6k) Also, did you not insure an item worth that much?

    It sounds to me, you did not do due diligence, 1 with customs and bringing the item in. And 2, the company you where buying off.

    I would talk to one of those companies that help people in financial crisis and debt recovery but I reckon you may have to look at filing for bankruptcy.

    That however won't get you out of people taking you to court if they want to recover there monies.

    You could try and explain your situations to the customer and tell them you will pay them off and give them a good will payment, may or may not work, but it doesn't hurt to give it a try.
     
  3. small_town_boy

    small_town_boy Power Member

    Joined:
    Aug 14, 2008
    Messages:
    513
    Likes Received:
    163
    How come customers can do chargebacks on you, but you cannot do the chargeback on the person you purchased from?
     
  4. jamesvick

    jamesvick Senior Member

    Joined:
    Jul 26, 2010
    Messages:
    968
    Likes Received:
    653
    Location:
    article directories
    Home Page:
    in future make your payments using cards and not paypal balance man. This way you are always safe. I myself paid over $8000 for a project in freelancing site but it was not delivered and they didn't refund. Placed a chargeback - got all my money back within a month. Feel sorry for your loss but learn from your mistakes and move on. Make sure they don't get your real ID and in future try and repay them slowly with a personal email explaining the issues. I am sure no one would be mad.
     
  5. alex33

    alex33 Newbie

    Joined:
    Mar 22, 2014
    Messages:
    38
    Likes Received:
    4
    getting money back from supplier is of no use.. all payments i sent where through western union or moneygram and always paid in cash... these are usually the standard method of payments when buying overseas.. and any items i sold where paid through paypal invoices,which has purchase protection for buyers..
     
  6. alex33

    alex33 Newbie

    Joined:
    Mar 22, 2014
    Messages:
    38
    Likes Received:
    4
    what i need to figure out is .. what steps do i take from hear to fix this mess in a very short period of time....
    Also to note im located in the usa
     
  7. Alpha.

    Alpha. Power Member

    Joined:
    May 11, 2013
    Messages:
    505
    Likes Received:
    236
    Location:
    Europe... No Borders? No Worries!
    Is your paypal linked to your real bank account and ID? Then you're pretty much fucked... What's that saying again, you don't skin a bear you haven't killed yet?

    Anyway, talk to a Bankruptcy lawyer and maybe go that way?
     
  8. alterego888

    alterego888 Registered Member

    Joined:
    Mar 16, 2014
    Messages:
    83
    Likes Received:
    3
    How the hell is he gonna have a credit card dude he said he had poor credit
     
  9. Gliko

    Gliko Newbie

    Joined:
    Aug 4, 2013
    Messages:
    26
    Likes Received:
    0
    mate,

    costumes can not stopped nothing... if you play fear! If all was legit, then you dont have a problem! If not then, you have! I dont understand you.... take a lawyer.... ask... and then you will see! You talk abut like you have no way out, but in all situation is way Out!

    Mate, take a time and make these right, but in all ways, you must comunicate with buyers and thell them situation!!
     
    Last edited: May 19, 2014
  10. small_town_boy

    small_town_boy Power Member

    Joined:
    Aug 14, 2008
    Messages:
    513
    Likes Received:
    163
    Why don't you chargeback from people who scammed you on paypal? That's what your customers are doig.