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paypal -£1.500 in the red


Silky444
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So a few months ago i met this person and we started a business together, he got me to get a paypal account in my name, although it was a business account. he has access to it. and drained it from the funds. paypal gave the customers there money back but it now leaves the accoutn in -£1.500 in the red. i am now over £7.000 in debt and at only 18 im really thinking about going bankrupt. why do paypal to this? the account is not registered to the address i have now, all they have is my name no bank details or addresses... will they find out where i live or what? :(

 

Also the company IS NOT in my name.

 

Lloyds TSB overdraft - £800 (Taken £3,000 bank fee's from me)

Lloyds TSB mastercard - £1.600

Capital One Visa - £260

Aqua Mastercard - £900

Streamline - £950

Orange - £1700

o2 - £1900

Paypal - £1600

 

Im not loosing sleep because the way i think about it... How the heck can so much credit be given to a 18 year old? Are they stupid.... most of this credit was given to me when i was out of work!.. O.o

The guy upstairs seriously has a problem with me.. Nothing seems to go right!!!:|

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In response to Paypal they may never find you and well I have no sympathy for them but thats another story :).

 

Personally I wouldn't go bankrupt as it will impair your credit rating for a very long time. However it is completely your choice.

 

Having been 18 and run up debts of £24000 I understand your situation. I now owe just under £5000 although it has been a long and tiresome journey.

 

Personally I would work out a plan of action for paying off the debts, negotiate a deal with all my creditors and begin to pay back. I would also not take out any more credit and cut up any credit cards I owned.

 

Sounds all to easy but for me it was the only way.

Completed:

Woolwich: Received £30

Intelligent Finance: Received £1100 after two years and approximately 20 letters, 6 pieces of hair and an eyeball.

Barclaycard: Received £90

HFC: Received £170

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I cut up all my cards 5 months ago. TSB and Aqua never agree'd to stop the interest, TSB are just not human.. they don't give a dam about anyone... all they want is your money!. Well, i will get a job soon but at the moment it's hard with it just got xmas and that :(

The guy upstairs seriously has a problem with me.. Nothing seems to go right!!!:|

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