Once the payment clears, you are OK. Banks will not normally reverse a transaction written on a check unless the checks were stolen.
I tried getting my bank to reverse a payment this way two years ago. They asked me if I wrote the check, and I of course said yes. They told me there is nothing they can do, that if I feel I was ripped off I should sue the person in small claims court.
Of course, PayPal could still side with the buyer if they file a dispute.
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