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Old 04-26-2015
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Default paypal working capitol/ Ebay suspension/ NOw what?

So how do they expect to get paid the daily repayment if I can not sell anymore? Minor defects got me suspended after I accepted a loan for 3500 based on what they projected my future sales to be...no credit check?? do you think this could be a possible way to get reinstated? Should I go a and delete or close checking account tied to this paypal?
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Old 04-27-2015
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

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Originally Posted by Unforgiven View Post
So how do they expect to get paid the daily repayment if I can not sell anymore? Minor defects got me suspended after I accepted a loan for 3500 based on what they projected my future sales to be...no credit check?? do you think this could be a possible way to get reinstated? Should I go a and delete or close checking account tied to this paypal?
You should never get loans of anything against a stealth account mate,
Unfortunately they wont give a shi* i was in the same boat made around 700 from sales tried withdrawing it got limited yet still owed fees luckily i set up shop fast and sold more items i suggest you do the same
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Old 04-27-2015
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

Actually this was my real account, not stealth that got suspended. I really would like to hear them explain how they are to be paid now. Especially since this was the route that was chosen by them regarding repayment. The whole thing is based on them receiving their money daily from my sales. The contract I have read a dozen times makes no mention of what happens if account is suspended, it only says that I can not stop using PayPal to process my future sales until it is repaid. It says I must maintain the same sales volume as when the offer was accepted. If I have no sales one day then I don't pay anything that day.....someone forgot to add the part of that contract that says what happens if you are suspended. ....my guess is that we will probably begin hearing a lot more of these cases but I bet that contract will contain a few more clauses now. What are your thoughts
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Old 04-28-2015
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

They will expect you to pay the money back, and will sell the debt to a collection agency if it is written off as a bad debt, and your credit will take a hit.
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Old 04-28-2015
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

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Originally Posted by Dmshark25 View Post
They will expect you to pay the money back, and will sell the debt to a collection agency if it is written off as a bad debt, and your credit will take a hit.
Exactly. Just because eBay shut you down does not mean that you don't owe PayPal the money they lent you. PayPal will do exactly what Dmshark25 said. The debt will go to collections and it will be reported on your credit bureau file.

Also, eBay is unlikely to reinstate you just because you owe PayPal money. You can try to appeal your suspension and MENTION that you are worried because you have no way of paying back the loan otherwise, but that does not mean that they will reinstate your account or forgive the loan.

I am not familiar with the PayPal Working Capital contract, but I cannot imagine that PayPal simply forgives debt owed if you get shut down by eBay. Their attorneys are too smart for that.
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Old 04-28-2015
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

I just searched on this and you MAY have a way out. Is your account a business account? Some sites are reporting this is a BUSINESS debt with no personal guaranty. If so, the only thing they could do is try to retrieve funds from your checking account (since it would supposedly be a business account).

Please keep in mind I AM NOT AN ATTORNEY and I have not seen the user agreement.
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Old 04-29-2015
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

I'm guessing that you spent the full loan on inventory ??

Either way if you don't have the money you have some inventory , which is basically cash, just get a bunch of accounts going and start selling. Put some funds aside for the loan, and when u figure out what the whole picture is u can make your decision .

As long as you have inventory, u are good, that's one thing with learning stealth. You can always get back in the game immediately , and the biggest problem is that u are at a point with no funds for inventory and I'm assuming you have a $3500 stock on standby.

Continue selling it, but don't make a payment right away, u will give up your leverage, you may be able to get your account back, if you play it that you can't move the inventory anywhere, so it's either u need to reinstate me or take a loss

Hopefully they reinstate the account, but make a bunch of stealth accounts and sell off everything, and hold the funds, that way If they plan on hitting your credit and writing it off as a bad debt u can pay it off
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

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Originally Posted by Unforgiven View Post
So how do they expect to get paid the daily repayment if I can not sell anymore? Minor defects got me suspended after I accepted a loan for 3500 based on what they projected my future sales to be...no credit check?? do you think this could be a possible way to get reinstated? Should I go a and delete or close checking account tied to this paypal?
Call your bank and tell them that you want to,block any payments that may be pulled from eBay or PayPal , that way u keep the account open if they reinstate you and in the mean time u won't get overdrawn and buried in NSF ANd Overdraft fees
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Old 04-30-2015
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

Great information friends, the sting is starting to feel a lot less that it did a week ago. Yes it is a business account and yes I still have inventory. I am confused on two things per your recommendation and one is how do you create multiple stealth and not have to have a social security number? And the second is , why would some but a stealth account vs create one? ...is it simply conveinence ? my son lives across town and I am thinking of getting him to open a new bank account for me to assume, buy a new modem, get a VPN....and try stealth. I m a nervous wreck!!! I feel like I am doing something underhanded and I hate that but I sell a item that has hardly any competition and it sells consistently for me. I m trying to leave a very harmful relationship and without the $$$ there is no way to do this, so it really leaves me no choice
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

Oh, one more question ...if this loan is based on my expected sales and not by my credit score or information, then can they still revert back to my credit. Their whole premise is that it will not effect your credit and "no credit check". The terms are very very loose and they really seem not to care when they are repaid, or at least at this point they don't seem to care. They told me , oh well you don't have a due date to pay it off or a payment due date so just try to get yr business up and running again and you can just make manual payments. Now I know these are just folks answering the phone and somewhere down the line this is probably going to be something that has to be adjusted somehow in order for them not to have a never ending string of loans with endless time to pay back. Seems to me that would leave a huge mess to clean up rather quickly
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

Applying for the loan would not affect your credit because they told you they weren't going to run a credit check, anytime u apply for a loan or credit card, it affects your credit

But If you default on the loan than I'm sure they just won't say " oh well" and let it go, they will try and collect.

You need to open accounts the proper way, don't use someone's identity to open another account

Get the stealth guide, it has all the basic questions and than come back to the forum once u have a grasp on he guide and have a plan down , share it with us and we will shape it up , than start.

But get the guide because we can't answer every basic question, u will get a lot of no responses,
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Old 04-30-2015
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

As an FYI, when you see an advertisement for a financial product and it says that the application will NOT affect your credit, that is TRUE, but it only applies to the APPLICATION, not to any DEFAULT, those are two different things.

No bank or loan company could afford to give out loans if there were no consequences for not paying the loan back. If there were no consequences, then why would ANYBODY pay? Morals? Perhaps. But we no longer live in a world where people HAVE any morals.
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

Quote:
Originally Posted by jeffweico View Post
I just searched on this and you MAY have a way out. Is your account a business account? Some sites are reporting this is a BUSINESS debt with no personal guaranty. If so, the only thing they could do is try to retrieve funds from your checking account (since it would supposedly be a business account).

Please keep in mind I AM NOT AN ATTORNEY and I have not seen the user agreement.
I just closed my business and owe Paypal Working Capital a large amount. In reviewing my contract my name does not appear anywhere, it is all in the name of my business. I am sure they took my personal information when I applied but I am fairly sure there is no personal guarantee. These "merchant processing" loans are predatory in nature and have very high interest rates for a reason. Their only recourse is to come after your business assets if you have any.
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Default Re: paypal working capitol/ Ebay suspension/ NOw what?

You said your items sell quickly on Ebay and yet you are suspended,what did you do to get suspended?
Ebay does not care if you have bills to pay,you violate their policy and thats it.
But your paypal account is still good,which means you can still use it to accept payments if you sell on other sites like Ecrater,Bonanza,Etsy etc.
Why not ask your son to sell for you,and do not use your paypal account,use his ,and then transfer/send you the sales proceeds,outside Paypal
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