PayPal negative $9800 advise

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MegStarHorse

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Hello all. I would love any and all advice on this. Long story semi-short. Had a successful run selling items on a website with PayPal that was used for the payments. Average customer was buying items for $300-$500. Recently chaos hit the personal life. We had the orders ready to go out in two weeks. Which was the normal. So we took the money out on Friday per usual. Well the merchandise was damaged on the way to the post office. Car wreck. Bad one. So skip forward to today. I did the right thing and clicked refund on all the purchases. The money was already used to purchase more inventory though. Now I’m in now way able to work due to the wreck and my account it showing negative $9800. What is the general thought about what PayPal will do for this amount? Yes it’s my real info. Wasn’t trying to scam. No I’m not worried about my credit. Yes I’m in the USA. Texas to be exact and our laws are very protective of people. I don’t own a home or anything they could even come after if they wanted to….. but what is the general though PayPal does on amounts of this size? Please and thank you.
 
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Blue Panda said:
They will probably send you the mexican mafia. You better move to canada.
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Com'on don't freak him out :D

OPI have no idea what will happen. But stay chill, not worth getting hypertension over it. PayPal will try ro charge your linked bank account or card to take the money tho. And their debt collectors will phone you countless number of times.
 
After the 90 days of negative balance pass, your account will be automatically passed over to a debt collection agency. It is then their responsibility to try and recover the debt for PayPal. In some circumstances, the agency will purchase the debt, which means you now owe them directly. It will show up on your credit report too.
 
Stay calm it will be normal debt, if you care about your credit start thinking about how to come up with $
 
Just unlink your bank and any cards on your account
Else they'll try to pay themselves through those
Nothing will usually happen, if you don't care much about the account ditch it and move on
If you think its more valuable than that money, then keep using it until the negative balance is repaid
Paypal steals millions every year so they don't mind negative balances unless it's something like tenths of thousands.
 
crystalwiz said:
Com'on don't freak him out :D

OPI have no idea what will happen. But stay chill, not worth getting hypertension over it. PayPal will try ro charge your linked bank account or card to take the money tho. And their debt collectors will phone you countless number of times.
Click to expand...
the emails still available ?
 
PremiumAds said:
Just unlink your bank and any cards on your account
Else they'll try to pay themselves through those
Nothing will usually happen, if you don't care much about the account ditch it and move on
If you think its more valuable than that money, then keep using it until the negative balance is repaid
Paypal steals millions every year so they don't mind negative balances unless it's something like tenths of thousands.
Click to expand...
This might help.
 
They will try to collect it from you by sending emails and letters if you fail to re-pay within certain amount of time they will sell this to a debt-collector company and they will try figure our a way to collect money, e.g. you'd be paying certain amount of money each month, if you fail with them, they will take you to court.

Because its a huge corporation and not a personal loan, it would take a while before you actually get any legal action against you.

As an option, apply for PayPal working capital, cover debt with their own money, use the rest to restart the business.
 
Why take a chance? It's not that big of an amount. Take a loan and make things right. You can get a job and close the loan later. Shit happens in life, that doesn't mean you have to find a quick escape route.
 
It can be worst , just unlink the bank and cards attached and remove the paypal and its cookies from the browser , paypal tactics are simple they used many users money every year , so it not gonna get worst !
 
In europe, they sell the debit to debt collectors for a small fraction.

Then it's the debt collecting agency's job to sue you, after they will try to recover the amount the normal way, through phone calls, letters, emails, etc.

In my country, everyone who was sued by these wankers won, so that's good news for you.

That's it. Don't know outside Europe how the do biz.
 
Paypal ? Don't worry. Let them send you some letters from some lawyers - tear and throw all those in the dustbin. Paypal steals money from people. Don't bother if your Paypal account is in negative. To recover that will cost them more. All they can do is send lawyer's letters and emails and nothing more. And for your business, there are lots of other options apart from Paypal.
 
Very sorry to hear this, mate. Cut out a loan from somewhere and pay Paypal. Start your business again and pay back the loan in installments. Looking at your average order value, it seems you'll be able to pay back the loan in just a couple of months.
 
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