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Returned "instant transfer"
 

I have a major problem. We received a $2300 check for something my husband sold.

We deposited it into our bank account. On Tuesday am I went online and we had a negative balance because this check was returned unpaid.
Meanwhile we used that money for Christmas items that we bought thru paypal using instant transfer.

Now they are going to all be returned unpaid.$2100 , what are my options.

will they take me to court for returned check?

any info would be helpful. thanks

Your account will go -2100. You will have to either

a) Deposit 2100 into your paypal account
b) Ditch the account and risk a negative credit report, and have collections after you. They most likely wont take you to court.

They will not take you to court, but there will go after your credit for sure. You will most likely need to contact whoever you sold the item to and figure it out with them.

This is why you should not accept a check. Did you check with the issuing bank if the check had funds?

you should be more involved in going after the person who gave you the bad check! you will still be responsible for the money to the bank and you do not want to ruin a bank relationship this way. you will be on the chexsystems database and will be blacklisted from opening a bank account in the future

With a check of this amount it is likely they knew exactly what they were doing. Rarely does somebody right a check and not realize they have the money. I would most likely get all their information. Send them a physical letter, email, and attempt to call them. If you need to get the police involved do so. Some of this will be a scare tactic on your part, but do everything legally you need to do.

Although it is very rare, I have buying purchase expensive items, and try a charge back. I immediately call them, and let them know I will contact their local police department as well as their bank for fraud, and it easily solves the problem.

Make sure you sound professional and very serious when contacting them, but not forceful and threatening.

Next time get a money order or cashiers check as payment.

If your TIN or SSN is not on the account you will not have to worry about paying that back. they will send a few letters, i have had a negative account balance on my regular non standard first PayPal account back in 05 and it has a 4500+ negative balance. i had my bank account registered to it, i immaterially closed my bank account and started a new one with the same bank :D

sure they sent a few letters, but they just say, hey you should pay your negative balance or we will keep sending you mail.

To this day, there are no legal court disputes about a negative balance case. if there were, i am sure it is out of court and its high business companys with $1,000,000 negative balance disputes for them to even be interested in taking you to court.


PayPal is a Billion Dollar company, they do not care about $2100, that is 0.00000000000000000000021 to them.

The down side is, you will need to create a stealth account from here on out to use PayPal again, because they will link your names and address and be like, well she has another account with a unpaid balance, BAM limited account...

good luck!