In The Negitive With PayPal

BrokenDreams

Firstly, I'll admit this is my fault on how this has happened, I got something, not realising that rather then insent transfer it was over. Few days and I didn't have money in my account, as I thought I was paying instantly.

PayPal rung me on Tuesday and I acknowledged it, I'm the type of person that'll face up to problems. I owe -46 something, I said I can pay off £25 when I'm paid next, and I'll pay the rest off after, which I don't think they wanted. I'm not in a position to pay it off all at once, which I explained on the phone, the guy was saying that he may end up passing it onto debt collectors and now I am paranoid. How long do they leave it before getting them involved? I would ask my parents for help, but that's the last resort.

Like I said, it's my own fault, I've acknowledged it (over the phone), I don't want to run away from it and hide (I find sticking head in the sand and wishing it away doesn't help), as I am not that type of person.

Sorry forgot to include please and thanks for any advice.

soolin

They do tend to act quite quickly and I'm not aware that they offer any repayment plans. However it is unlikely to go to court or anything, they may well pass the debt on and you may be door stopped a few times or get unpleasant phone calls. Best to check over on the debt board to find out exactly how far debt collectors can go and make sure you know what and what they are legally allowed to do.

You will of course almost certainly lose your paypal account, and any other household member may well lose theirs as well.

If you are the worrying type I would be asking your parents for a short term loan, get this paid off and pay your parents back later.

musafir05

I was -£987 3 years ago after a deal gone bad. I never paid a penny, paypal sold the debt. I get a few calls from collection agencies asking for money.:D

PS: My credit file is untouched. :money:

BrokenDreams

Thanks, borrowed some money from mum, now all I need to pay is 30.64 and it's all paid. I vow never to get into this situation again.

Procrastinater

BrokenDreams wrote: »

Thanks, borrowed some money from mum, now all I need to pay is 30.64 and it's all paid. I vow never to get into this situation again.

Be careful what you vow ! At 25 yo I vowed "Never to go into debt again" after a particularly bad experience - I was 48 before I realised that a mortgage was a good thing ! (with certain caveats)

RMS2

soolin wrote: »

Best to check over on the debt board to find out exactly how far debt collectors can go and make sure you know what and what they are legally allowed to do.

You will of course almost certainly lose your paypal account, and any other household member may well lose theirs as well.

I wouldn't worry about rushing to pay it, no matter how reasonable you are, how honest and upfront, as Soolin says, you've lost your account.

Debt collectors* have no legal powers whatsoever, they are just members of the public. You can just turn around to them and say the debt is in dispute with ebay and you want no more contact or it will constitute harassment.

They will not turn up at your door, certainly not for £50, it would cost them at least that just to send someone round. I have never had a visit and have had several accounts closed after ebay have given money back to a fraudster. You don't have any credit agreement with them and they would have to sign up to all kinds of UK legislation to get a licence, and they don't like being under the scrutiny of UK law and financial ombudsman.

They are still sending me emails on an old email account from February (I look at it every now and then for a laugh). They keep telling me it will be escalated and then passed to debt collectors, the sum involved? £3.50. Like someone is even going to pick the phone up to chase £3.50.

* It would have to go to court and you lose the case, which you wouldn't as you have offered a reasonable repayment plan. If you lost and then didn't pay or put in an agreed (with the court not the claimant) payment plan, then the bailiffs (not called that any more, but that's what people know them as) can be used and they do have some legal powers.