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I'm a bit of a jiffy here. I did some stupid and then even stupider. Need help

Discussion in 'Business & Tax Advice' started by soheb123, Apr 5, 2017.

  1. soheb123

    soheb123 Newbie

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    So I just got my first debt collection call for 735$ because I was dumb enough to sell game keys on eBay and literally all of my customers did a chargeback. Leaving me with notnonly a nice -1000 debt for PayPal but also a -325$ on eBay. PayPal already referred me to a debt collection agency and in the call I was stupid enough to say I would pay it by next week because I got scared it would affect my credit. I am only 21 years old and a college student. I have no way of paying this because I had to use the money I had saved for an emergency. What will happen if I don't pay PayPal? The company is called American Cordius or whatever.
     
  2. MisterF

    MisterF Jr. VIP Jr. VIP

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    Presumably you're in America ?

    I can't advise as I don't know enough about American law.
    One option would be to offer an instalment plan, on the proviso they halt any interest on the debt. Make it a reasonable yet affordable amount. $20 a week as a minimum. Note though, if you default or mess about they'll come after you for the full amount and interest.


    You might be best seeking a free advice session from a lawyer.
     
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  3. soheb123

    soheb123 Newbie

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    Yes I am American. I just find it rather unfair I have to pay since all the ebay buyers were scammers. I learned this method on BHW too lol. Lesson learned but hey atleast I made my first money online eh?
     
  4. Heiko

    Heiko Jr. VIP Jr. VIP

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    Scammers? So it means you provided the gamekey > They bought the gamekey > recieved the gamekey >actiaved it > refunded it > & got their money back?
    You should try to get a part time job and try to pay PayPal + eBay weekly for example 10-20$. Like @MisterF already said, you should contact a lawyer and sort everything out with him.

    Good luck.
     
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  5. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator

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    I thought that game keys were not allowed to be sold on Ebay.

    Anyway, call the collection agency back and do as @MisterF suggested above and work something out. There is a good chance they bought the debt at .10 on the dollar and will work with you.
     
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  6. soheb123

    soheb123 Newbie

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    Yea ebay let me get away with selling game keys for 2 months even increased my selling limit. I will probably do the weekly thing as I have money coming in from amazon too now. But whats the worst they can do for 700$ just curious?
     
  7. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator

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    The worst they can do is sue you and obtain a judgement but for that little amount they will just annoy you with phone calls and letters.

    And your credit will take a ding in all probability too.
     
  8. soheb123

    soheb123 Newbie

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    A part of me wants to just pay it off and get it over with because I dont want to cheat anyone. But at the same time I am just starting off only 21 and the 700$ will be a big help to investing. If they dont sue then I might just take the hit to my credit rating and hope that I never have to take a loan for a while.
     
  9. MisterF

    MisterF Jr. VIP Jr. VIP

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    If you were in the UK, you'd be looking at small claims court and a County Court Judgement (CCJ) against you and bailiffs coming after you for payment. The 700 would almost double with costs.
    The CCJ would impact on your credit rating, meaning getting a mortgage etc would be near impossible for several years.
    They could also push to make you bankrupt.

    If you defaulted it could go to High Court and then the High Court Sheriffs would come after you and again take goods to the value.

    Whatever you do, please don't bury your head in the sand and hope it will do away - it won't do.
     
  10. soheb123

    soheb123 Newbie

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    I think you are right. Ill just be honest and try to get them to agree to a weekly or monthly compensation and just keep trying online to make money. Last thing I want is for this to turn into a $1400+ hit
     
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  11. MisterF

    MisterF Jr. VIP Jr. VIP

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    Make you you explain you have little money, so you NEED them to freeze any interest !!!


    You're young enough to learn from this mate, take the hit on those charge backs, do the right thing and learn then move on.
    You'll be able to hold your head high and not be looking over your shoulder for the debt collectors. You'll sleep better for it ( so will your family who you live with).
     
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  12. soheb123

    soheb123 Newbie

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    I really appreciate everyones advice. I am positive Ill be able to make this money back with a bit more effort. :) Thank you
     
  13. MisterF

    MisterF Jr. VIP Jr. VIP

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    Just make sure you get across you need them to freeze interest.
     
  14. soheb123

    soheb123 Newbie

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    Will do! Thank you :)
     
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