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What happens when you have no balance to cover CHARGEBACKS ?

Discussion in 'BlackHat Lounge' started by host32, Sep 29, 2015.

  1. host32

    host32 Regular Member

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    Hey guys

    I've been offering services online for years and never ran into any problems, had refunds and chargebacks but I always had either enough reserve to cover it or a secondary funding source.

    My question is, what would a payment processor like 2checkout for example do if chargebacks accrued and my reserve is not enough to cover the charges and my secondary funding source doesn't have enough balance ? are they simply gonna pay it out of their pockets and suspend my account or is there other procedures in cases like this ?

    Just curious

    - Host32
     
  2. elfgirl

    elfgirl Jr. VIP Jr. VIP

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    I am sure they will pay for you but will send you the bill for the amount (plus a fee maybe). If you don't pay for a while they can send it to collections.

    Either way, I am sure they will find a way to get their money.
     
  3. BusinessSmack

    BusinessSmack Jr. VIP Jr. VIP

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    I know paypal will shut ur account down and if u ever try to make another one the first thing they will do once they find out the accounts are linked is limit the new account and send u a nice bill if u want to continue. They will probably also send the owed amount to a collection's agency where it will only get more expensive every month. I would recommend paying it.
     
  4. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Send your details to debt collectors? Start legal proceedings? Who knows, it will depend on the company and the amount of money involved.
    As you mentioned 2checkout, take a look here:
    https://www.2checkout.com/policies/international-seller-services-agreement
     
  5. host32

    host32 Regular Member

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    Guys, I'm familiar with the term debt collectors however I'm not sure if that's what you are referring to above, is it ?

    However I believe what you said only applies if I live in the states, what happens if I live abroad ?
     
  6. rushuna

    rushuna Junior Member

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    They'll find a way to get their money back. They accept transactions from multiple countries.
     
  7. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

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