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  #1  
Old 06-20-2013
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Default Paypal Refund

Hi Everyone, so I sold a high valued item a month ago, and now the buyer wants a refund. He has returned the item, but I currently don't have the funds to cover the refund. What happens when paypal tries to pull the money out of my bank account? Am I going to have a negative balance on that paypal account? Or are they going to keep trying to take the money out of the account?

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In my limited experience with this, they will take the funds from your Paypal account, you will have a red/negative balance and they will contact you with ways to fund your account. You will get a few emails, and after 2 weeks it will get a little bit more serious. I would try to fund it asap if it's stealth, you don't want to bring attention to the account, well, more than you already have with the balance issue.
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CCS1, thanks for the reply, so when you say a little more serious, do you mean they will try to sue? Or they will send it to collections?
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No that won't sue you, they will give u some time to pay the negative balance, but if this is a stealth account with no SS# than your account will be in trouble and may get suspended , so if u want the account u need to take care of that ASAP
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Yeah, they won't sue, but they will probably try calling you after a while. You want to avoid being called, for obvious reasons.

If you simply don't pay, then it will be sent to collections. Meanwhile you still still receive emails saying "please pay your balance so we can re-instate your account!"... lol
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Old 06-21-2013
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Quote:
Originally Posted by Enigma View Post
CCS1, thanks for the reply, so when you say a little more serious, do you mean they will try to sue? Or they will send it to collections?
Thanks
Emails will come

Friendly at first. Then more demanding. Then more threatening and advise of being sent to collections

If you value the account, resolve the negative balance

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If you have a SS# or an EIN than this will affect your credit if it goes to collections , if u have these numbers in than Paypal is willing wait longer because they know they have you if you don't and your cimpletely stealth they are worried and u risk account suspension
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Old 06-21-2013
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Quote:
Originally Posted by Enigma View Post
Hi Everyone, so I sold a high valued item a month ago, and now the buyer wants a refund. He has returned the item, but I currently don't have the funds to cover the refund. What happens when paypal tries to pull the money out of my bank account? Am I going to have a negative balance on that paypal account? Or are they going to keep trying to take the money out of the account?

Thanks
You will have not only negative balance in your PP if the fund upload fails but also your bank will hit you with NSF charges. How much is the amount? Are you considering keeping the PP account alive?

If so, pop the funds into your bank and let it go up - yes, your name might be seen on manual review but sometimes the risks outweigh the bigger risks. Or consider a large sale and get the funds cleared...quite a few approaches to this.

Or - if you intend to go delinquent - yes, collections....
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First off you cant refund without the funds

If you want to refun d the buyer than send what you have and tell him to dispute the rest and he will win the case and your account goes negative. If you do nothing and the buyer does nothing nothing happens buyer is screwed and you keep the money and item.
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Originally Posted by rsot View Post
You will have not only negative balance in your PP if the fund upload fails but also your bank will hit you with NSF charges. How much is the amount? Are you considering keeping the PP account alive?

If so, pop the funds into your bank and let it go up - yes, your name might be seen on manual review but sometimes the risks outweigh the bigger risks. Or consider a large sale and get the funds cleared...quite a few approaches to this.

Or - if you intend to go delinquent - yes, collections....
The amount is for $4200. Everything is in my real info, as I didn't expect anything to go wrong, and the item is a legit autographed basketball authenticated by one of ebays approved authenticators. The buyer just wants a refund, and PayPal is in favor of the buyer. I have nothing to worry about, other than the fact that I don't have the money to refund the guy at this time. Even if I did, I still wouldn't want to. PayPal can't possibly expect a seller to refund an amount like this, especially being that it's been a month old. I like all the responses so far, and thanks for the help.
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I guess, I'll eventually make payments towards the account, so that it won't go into collections.
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Quote:
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I guess, I'll eventually make payments towards the account, so that it won't go into collections.
4200 is a pretty steep amount - you can expect to be harassed by PP.

PP will not accept 'eventually' as an excuse
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Originally Posted by Enigma View Post
I guess, I'll eventually make payments towards the account, so that it won't go into collections.
You need to be proactive now.

Have you had contact with the buyer? There is a fine line here about what you must do to protect your own back
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You need to be proactive now.

Have you had contact with the buyer? There is a fine line here about what you must do to protect your own back
I've responded too all the buyers messages. He just wants his money back, so eBay and PayPal both know that I'm not trying to hide from the situation. I think I'll refund $1000 a month until paid off.
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Keep all the communication going until fully resolved
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Dont refund nothing unless you can refund all. If you dont care about your credit let it go to collections and negotiate it for a third of the balance.
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And don't refund until you get the one u sent back and make sure it's not a counterfeit that the buyer is trying to pass off to scam you , hope you. Have documents and some kind of proof the one u sent is legit in your possession
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Dont refund nothing unless you can refund all. If you dont care about your credit let it go to collections and negotiate it for a third of the balance.
Why wouldn't you partially refund until paid off?
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Because if something happens and you can only refund part of it, you will still have damage to your credit and or paypal
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Quote:
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Because if something happens and you can only refund part of it, you will still have damage to your credit and or paypal
But - of course - if you keep paying it down to avoid collections, you can avoid the credit hit
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Quote:
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Because if something happens and you can only refund part of it, you will still have damage to your credit and or paypal
That is a 50-50 scenario

Real account with real details it may be more to the OP's advantage to enter into a plan. That gives some standing should anything happen later

Looking to cooperate will be preferable because of potential credit issues
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It is a several stage process. First PayPal sends emails being polite reminding you of the
different options to fix your negative balance. However if you fail to do so in a limited amount of time they will try to take it from your Bank Account that is attached.

Also once your PayPal account is in the negative you cannot successfully remove your bank account from your PayPal.
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