What happens if

case_jane · #1 03-28-2009

It's a long story but I need a quick answer....

What happens if a paypal account is negative $20K

I've read many posts that say it's turned over to collections but I'm concerned about the amount...

Here We Go Again · #2 03-28-2009

It is turned over to collections.
If the account has your REAL information you will be tracked down.
If you left Paypal with a debt of $20K and had your REAL information they will find you.

case_jane · #3 03-28-2009

I think he has his real info. Is there anyway to change it? What will happen after they track him down/find him?

oompaloompa · #4 03-28-2009

change the fact that they have real real info? not unless you have a time machine.
Paypal are quite persistant, if he lives at that address right now, they will write to him,
then it will be a court summons.
Has anyone got any ideas on this, can he say someone misused his info? They cannot check his computer right, but if his bank account and real cards used, real phone number and other factors it would be difficult to make a case to avoid it.
Ive heard of people using their relatives details and then the collections not being able to do anything about it because they say 'wasnt me', but that was for Ebay not paypal.

case_jane · #5 03-28-2009

so worse case scenario is that it will be sent to collections?? I'm a little confused...sorry. What will they write to him? I'm guessing if no response then a court summons? What happens with the summons, what do they summons you for? I really appreciate everyone's help with this. He made a really stupid mistake, trusted dropship, etc. & is trying to figure out what to do...

doughboykilla · #6 03-28-2009

Quote:

Originally Posted by case_jane

What will happen after they track him down/find him?

they will break each of his fingers 1 by one till the money is paid back. If they run out of fingers they will do the fingers of loved ones.

Paypal use mafia style tactics.

LoL j/k.

Here We Go Again · #7 03-28-2009

^^^^^^^^^^^^^^^
IGNORE HIM.....

-------------------------------------------------------
If he gets a court summons then he must go to court.
If he blows off court then he will get a warrant for his arrest.
So then the cops would either knock on the door
OR
Next time he gets pulled over for running a red light or speeding he goes to jail.

case_jane · #8 03-28-2009

Ok. Just wanted to make sure that he will have the opportunity to "work it out" before someone just comes and halls him off to jail. Thanks so much!

importracer150 · #9 03-28-2009

My friend had a paypal negative 8k with his real info last year. They hadnt did
anything yet to him.

**aspkin** · #10 03-29-2009

Handn't did anything.. Yeah!

I say your friend is going to have some trouble..

boondoggle · #11 03-29-2009

Ive had loads of PayPal accounts with around $2-500 negative balance and they "handnt did anything" to me because the information is bogus, but with a 20k negative balance being blown off would that not make them more likely to try to track him down? Its a lot of cash, is there no threshold when they look into using other legal powers to recover the money?

GreenBean · #12 03-29-2009

paypal will attempt to recover ANY debt.To what lengths they will go depends. Can only agree with aspkin that 'the friend' is going to have
problems.

case_jane · #13 03-29-2009

Ok, so when you say he's going to have "some trouble" can you be more specific?

GreenBean · #14 03-29-2009

If you are worried about a SWAT team knocking the door down, that is not likely to happen (yet). BUT if an approach is made by paypal in ANY manner and ignored, then there will be 'some trouble'. At first paypal will attempt to resolve the problem by having the balance brought to nil.Expect a lot of messages.Paypal will limit the account & ask for the balance to be fixed. If nothing is done then the matter will escalate. This will not go away. The 'friend' should deal with this.

I gotta ask why is 'the friend' not asking the questions? Really annoys me to give advice to a third party. 'The friend' made the mess, he should take the responsibilty to clear up the matter and in fact ask here himself.

case_jane · #15 03-29-2009

I am just trying to help out a friend who's got alot on his plate right now. Why do some people say that they have had negative balances & it's been sent to collections but that's as far as it goes & then some say they haven't had to deal with anything? I haven't heard of one person getting picked up or arrested anything like that except for much higher balances. This is a good person, powerseller with 100% that expected some merchandise to come that didn't. I'm guessing that nobody knows the real answer and that it's probably a situational/timing thing....like everything else is with paypal??

GreenBean · #16 03-29-2009

What matters is what happens to THE FRIEND. Bottom line is that the matter is between paypal & the friend. I agree with your last sentence: it
is paypal. Get the friend to take the advice & resolve the matter.
Truly there is not much more that can be said here.

NO ID · #17 03-30-2009

Are you afraid? OK - Just make partial payments to them cause they accept that and or just find a product that will help you make that amount within a month or 2.

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planes · #18 03-30-2009

Well he can file bankruptcy and add that debt to his list of creditors.

ebay · #19 03-30-2009

it's a load of bull they can't do anything to you
all they (Interim Debt Collection) are going to do is keep ringing you like 2-3 times a day and they will send a few letters saying if you don't repay your debt then we will take you to court.
after like a 7-8 months they will stop hasseling you.
exact same sort of thing happened to me with my first proper ebay account with real info.

hateem · #20 04-01-2009

If you have real info, they will most likely contact you. I owed paypal a little over 800 dollars. They sold it to a debt collector for a little over 400. The debt collector sent me a letter stating that I owed them the money. A good thing to do, which I did was respond to the letter by writing a debt validation letter. What this does, is it forces the debt collector to go back to paypal to prove the debt is valid. It is a long and painful process for the debt collector and they will most likely dismiss the debt. If you do not here from them within 30 days, by law it has to be dropped. Most people do not know there rights when it comes to the debt collectors. For more information on the debt validation letter, click the link. It also gives a sample letter. Hope this works. Sample Debt Validation Letter | Debt Prison