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

Paypal question...

Discussion in 'BlackHat Lounge' started by mytraffichunt, Apr 18, 2012.

Tags:
  1. mytraffichunt

    mytraffichunt Newbie

    Joined:
    Apr 29, 2011
    Messages:
    7
    Likes Received:
    0
    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.
     
  2. Checkmate

    Checkmate Elite Member

    Joined:
    Aug 9, 2010
    Messages:
    1,632
    Likes Received:
    675
    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.
     
  3. mytraffichunt

    mytraffichunt Newbie

    Joined:
    Apr 29, 2011
    Messages:
    7
    Likes Received:
    0
    Account is closed already though, so what does locked mean?

    Will Paypal try to collect the money somehow? Will it affect my credit score?
     
  4. Mad Gear

    Mad Gear Newbie

    Joined:
    Mar 2, 2012
    Messages:
    2
    Likes Received:
    0
    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.
     
  5. Checkmate

    Checkmate Elite Member

    Joined:
    Aug 9, 2010
    Messages:
    1,632
    Likes Received:
    675
    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.
     
  6. mytraffichunt

    mytraffichunt Newbie

    Joined:
    Apr 29, 2011
    Messages:
    7
    Likes Received:
    0
    I appreciate the answers guys.

    What are my options if it does indeed go to collections?
     
  7. g33k0f9x

    g33k0f9x Regular Member

    Joined:
    Mar 16, 2012
    Messages:
    262
    Likes Received:
    137
    Occupation:
    IM
    Location:
    Orgrimmar
    collections sucks!
     
    Last edited: Apr 18, 2012
  8. g33k0f9x

    g33k0f9x Regular Member

    Joined:
    Mar 16, 2012
    Messages:
    262
    Likes Received:
    137
    Occupation:
    IM
    Location:
    Orgrimmar
    you can pay it off though and avoid that, they will work with you.
     
    Last edited: Apr 18, 2012
  9. Checkmate

    Checkmate Elite Member

    Joined:
    Aug 9, 2010
    Messages:
    1,632
    Likes Received:
    675
    I found this on Paypal's help center:

     
  10. mytraffichunt

    mytraffichunt Newbie

    Joined:
    Apr 29, 2011
    Messages:
    7
    Likes Received:
    0
    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.
     
  11. Checkmate

    Checkmate Elite Member

    Joined:
    Aug 9, 2010
    Messages:
    1,632
    Likes Received:
    675
    • Thanks Thanks x 1
  12. mytraffichunt

    mytraffichunt Newbie

    Joined:
    Apr 29, 2011
    Messages:
    7
    Likes Received:
    0
    Thank you checkmate. That thread is full of good information, I'm going to bookmark it for later.