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Paypal - Big negative balance

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Please Help and give some advice

 

I have over £7,000£ negative balance on my Paypal account - I can only say its my fault and I have to blame only myself but i want to pay off everything as soon as I can

 

I had a call today from Paypal asking to pay this otherwise they will pass it to Debt collection, they gave me 7 days from today to pay as much as I can but what after ?? Did someone had simillar expeience ? What happenes after 7 days ?

 

I asked to give me 8 weeks to pay it off but she didnt want to lissen

Please advise, looks like they dont want any aggrements, I have to add that this debt its not old, week only

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More details please. Also for a 7k negative balance, paypal wouldnt go through a DCA theyd chase it themselves. But chances are they cant touch you anyway, and they know it.

 

Also, stop talking to a DCA> They dont have any legal rights, especially if paypal still own the alleged debt.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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Hello,

 

What you want to know?

 

I was stupid trying to have extra cash and I was buying from one of my account and use the option 14days pay after delivery, this went too far, it was for gambling, I lost control for short time, I am not addicted I have say, I want pay the debt to paypal but without any other third parties. This is not old debt and I told them I am fully responsible for this and I want pay it in full and I will, specially that I am still selling on ebay as a Business seller and I can pay every month something but she didn’t listen, she gave me only 7 days and I don’t know what will happen after

 

I can’t take any more loans, I have big mortgage but I can afford to pay everything, I never had any missed payments

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I am only shocked why it’s so quickly, why they don’t want to wait if I offer to pay it ASAP, I know very well, my fault – I just lost mind for short time

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OK - if you want to pay them do it on your terms. Unfortunately you may find you cannot pay directly into the affected Paypal account as Paypal will have frozen it. If this is the case and you still want to pay them send a cheque/Postal order to their Registered address which is, I believe, still in Richmond. May sure you clearly state what the payment is for and ask them for an easier way to pay them by installments.

 

To find their current registered UK address search companies house and use recorded mail.

 

Do not pay any Debt collector - pay Paypal direct if you decide to pay them.

 

I was in a similar situation with them where I owed (and still do a substantial sum) and went I went to pay into the account to wind down what I owed I couldn't as the account was frozen. Subsequently I did get loads of debt collector letters threatening all sorts of dire action - all of which I ignored. Now I don't hear anything from them. If they did take me to court they would have difficulty in explaining why I could not repay the debt directly into my Paypal account because they effectively stopped me doing so.

 

Having said all that Paypal have not, to my knowledge, taken anyone to court either directly or through any of the entities they use for debt collection. It may be to your advantage if they did take you to court as Paypal would have to provide a method for you to pay in installments if you cannot pay in full due to your circumstances. Pay something like a fiver a month then they'll be happy to settle after a year of so for a fraction of the original debt. But, as said, it is highly unlikely you would see the inside of any court room by any action initiated by Paypal.

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Many thanks, at the moment I can still pay to my paypal account and even login there, account its not usable but I can go there, and still make payments from my Bank account. I cancelled direct debits so Paypal doesnt have access any more to my account.

 

Your advice is - if they closed my account and sell my debt to someone I should still pay paypal, not them? I am sorry but I am not folowing you, I was never on situation like this. Paypal will say that they gave me opportunity to pay but using third parties and I refused. Is this becuase paying collectors will cost me more??

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not easy, because I was always almost perfect, Month ago I had even excellent scoring but taking as well 2 loans to play to have my money back I don’t want go there and check.

 

I am sure - I will never play again, I lost so much because I want to have more - I hate myself. I have a good job and not bad money so I can pay everything back, will take time only, the only problem I will have with Paypal, I can’t believe what did I do. Good things are I sent email to Colar to close my account and now I won’t be able to login again and use them even in the future

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You do not need to worry about Paypal. They themselves will not chase you - only through third party or in house debt collectors. As I have stated on previous threads the likelihood of Paypal taking you to court is as likely as the Pope becoming Moslem.

 

But if you want to pay them back do so directly to Paypal. If they refuse to accept your payments - end of. Just keep a record of their refusal in the remote likelihood it is taken further.

 

If your Paypal account is still open (which to me is amazing) just pay what you can afford into that. Whatever you do do not link a bank account back to the Paypal account as Paypal will simply help themselves.

 

Ignore any debt collector letters they have as much force as a wet fart in the wind. As soon as you see who the letters are from destroy them and under no circumstances respond to them. The only letter to respond to is one coming from a court and that would be a first if it should ever happen.

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Thank you for so many advises, at the moment i have 7 days to pay minimum of 500.00, she will call me again on the 11th and lets see that happens later, I will update

 

 

Many thanks again

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How did paypal allow you to go into such a large debt?


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Thank you for so many advises, at the moment i have 7 days to pay minimum of 500.00, she will call me again on the 11th and lets see that happens later, I will update

 

 

Many thanks again

 

Who says so? You pay what you can realistically afford at a rate you can realistically afford. Dont listen to the DCA. Even if it went to a court, the court would set repayments at a level that works for your financial situation.

 

And stop dealing with this over the phone. Tell them, in writing, and then hang up.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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not easy, because I was always almost perfect, Month ago I had even excellent scoring but taking as well 2 loans to play to have my money back I don’t want go there and check.

 

I am sure - I will never play again, I lost so much because I want to have more - I hate myself. I have a good job and not bad money so I can pay everything back, will take time only, the only problem I will have with Paypal, I can’t believe what did I do. Good things are I sent email to Colar to close my account and now I won’t be able to login again and use them even in the future

 

HI There

 

Thanks for being honest. Keep at it in your mind and get yourself back on your feet :)

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Just pay what you can afford. You are in control - NOT Paypal. Under no circumstances pay more than you can afford. As stated DO NOT have contact on the phone. If you answer when they or their debt collectors call tell them you will deal with them in writing by letter ONLY.

 

If you are able block their calls so they cannot harrass you further. As already stated it is highly unlikely this will ever go anywhere near a court so they are fortunate you are willing to pay them anything. Always remember you are in control of the situation not them.

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And only pay if the actual debt is legit, AND enforceable.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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pay as much as you realistically can but dont allow them to set up a direct debit mandate or continuous payemtn authority to your bank account.

If you have been paying via paypal to a gambling firm the debts may be unenforceable under UK law so it may be worth trying to find out if this is still true as it used to be for all gambling debts. That then becomes Paypal's problem, not yours

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Hello Guys,

 

Maybe I will give some updates.

 

Its already October 2017 and I am still paying my debt to PayPal,

in the beginning - Middle of April 17 when all transactions finally been returned to my PayPal negative balance was over £15.5k

now I have £3,200.00 .

 

PayPal didn’t close my account,

4 weeks ago still I could log in to see balance,

now I can only transfer Money from my First direct account but not log in,

 

 

account it’s still active,

they didn’t send me any letters etc… ,

any debt collectors,

anything

– is it Luck???

Or something else

 

Huge debt but I am just thinking why I am paying them?

 

I was gambling, spending fortune on daily basis, My PayPal account was connected with Coral so every day transactions going between Coral and PayPal. I manage my debt with PayPal having two PayPal accounts and two eBay accounts and buying between my accounts items using pay after delivery option so I had Money for gambling and to pay/ clear my “previous shopping”. I was doing this at least a few Months and PayPal didn’t notice anything earlier, they allowed me do some suspicious transactions for hundreds of £ a day between my private account and my business account (but still register for my name)

 

Can I stop paying them and claim what I paid already???

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well they cant do anything to you

and as you are paying them..

they wont want too.

 

 

I do question how much of this balance re how it was accrued - is actually legally owed by you mind..


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sorry for late response.

 

You are right - I didn't get these money legally, is that what you mean ?

I did dummy transactions but they allowed me to do for long time PLUS from each transaction they had nice fees.

 

Can i send them SAR request?

I am asking because I am still paying but I dont have any more access to my Paypal account.

 

Debt was from April this year, I was making payments every few days ,

after two Months later (I dont remember exactly) they started changing my payments from GBP to EUR but still I had access to my account.

After each payment I had always two confirmation emails :

 

'PayPal has made a transfer between the balances in your account for the following reason:

 

Our policy of converting negative to positive balances.

 

The following transfers were made:

 

Negative balance : -4,106.90 EUR Covered From : £25.00 GBP (1 British pound = 1.09731 Euros)

 

Yours sincerely,

 

PayPal' and another one

"The transfer of funds from your bank account to your PayPal account for the amount of £25.00 GBP is now complete.

The funds are now reflected in your PayPal account balance.

 

Yours sincerely,"

 

Months ago they cut my access to my Paypal account,

I cant login any more so I don't know how much still its outstanding,

I am still paying them the same way as before,

transfer from my Bank account

 

each time I have only one confirmation email, that the transfer is now complete.

The funds are now reflected in your PayPal account balance."

 

Are they still converting my money?

if yes - why they stop sending me emails with balances?

If they stopped conversion why now?

 

I don't want call them maybe someone has any idea?

I am paying but I don't have idea what's going on there.

I didn't get any letter,email or left message on my phone regarding this change

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Ignore them for now. They won't do anything except pass it on to a dca. That dca will send 4 or 5 letters then give up. Only respond if something that's actually official arrives.

 

If it does, come back here for more advice.

 

They've had 3 years so far to chase it and they haven't.

 

Let them make the first move for now


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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right,

they have turned off one of your paypal accounts and transferred the balance to pay off some of the debt on the other one.

 

From what you say in an earlier post you have been committing fraud by false representation

 

I wouldnt be in a hurry to send them a SAR and likewise I wouldnt be poking a hornet's nest by stopping paying either if you are currently paying them something on a regular basis.

 

The path of least resistance it to pay back what you can realistically afford to do so and they will be happy enough with that, even if they do send you more messages saying they want the debt cleared etc.

However, this isnt a priority debt

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Hi there,

 

I have negative balance with PayPal from April 2017, it was over £15k, now it’s still £3k

 

For the first few weeks they called me every few days,

every time I answered their calls and always my answer was the same

that I don’t have that amount to repay now and I can only pay what I can,

 

I was paying every few days something,

sometimes more sometimes less but regularly and still I am doing.

 

I don’t have access to my PayPal account,

after few Months they locked me

but I am still able to do payments from my Bank account directly to my PayPal account,

 

each time I have confirmation email regarding my payment,

I never received any letters, reminders etc…

 

I am not on any payments plan with them,

I am paying what I can afford

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I should add from May they stopped even calling me, becuase they see that I am paying my debt, I make payment today - 15.11, before 06.11 and 31.10 etc...

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Youre being bluffed tbh. They say you owed them 15k and theyve done nothing about it, mainly because youve blindly paid them


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I didn’t have choice because it was my debt , I don’t want go to details but it was theft and I knew what I was doing

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