Paypal

in Debt-Free Wannabe
11 replies 421 views
I know this question has mostly been answered, but there has been a change so I'm just wondering where this goes from here.
To go over things again, and to clarify, this isn't Paypal credit card, just the normal account linked to eBay, etc. In January the account was in a negative balance of over £2200, I had persistent calls from Paypal about it, and was paying off bit by bit, then at the end of March, they just stopped calling without a word. I continued to pay in what I could up to this week and the balance has dropped to £1.5k. Three weeks ago I received a letter from Wescots which I ignored, another one came this week, again ignored. I've blocked all calls and text messages from them as well.

Now today, I've received two emails from Paypal, one ending an agreement with eBay and the other saying my negative balance has now been converted into Euros, rather than GBP. I've barely received anything written from Paypal, and nothing in the post.  I tried logging into my account to check this but they've completely closed it. The question is, what will happen from here? I was still paying in, but now I actually can't. Advice across the internet doesn't really shed light on this.

Thanks.
Starting point - May 2020 Debt £25,231 ouch.
Monthly update - June pending
Baby Step #1  £0 / £1000
If you fall down, fall on your back, because if you can look up, you can get up.
«1

Replies

  • cymruchriscymruchris Forumite
    3K Posts
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    It seems like they've sold on your debt to Wescots - the letters and calls you have ignored probably pointed this out? The debt will still be active, it hasn't mysteriously disappeared. 
    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
  • edited 6 June 2020 at 12:15PM
    sourcratessourcrates Forumite
    25.1K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    edited 6 June 2020 at 12:15PM
    Hi,
    I suspect Wescot will continue to try to collect this from you, give it about 3 months or so, and they will return the account to PayPal as uncollected.
    It is a well known fact that PayPal never take legal action to recover debts, this is mainly due to the fact that they created the debt in the first place by putting your account into a negative balance, so they are asking you to pay something you never agreed to, basically such a situation would never see the light of day in a court room.
    If you want to continue paying the debt, make an arrangement with Wescot, if not, then after a while it will just fade away.
    Ex Board Guide.
    “A man who pays his bills on time is soon forgotten. - Oscar Wilde"
    “If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” -JPMorgan Chase"
    "I don`t trust Bankers, I don`t trust Banks, and I don`t trust you. -Private Frazer"
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • NewbieJDNewbieJD Forumite
    34 Posts
    Fifth Anniversary 10 Posts Combo Breaker
    It seems like they've sold on your debt to Wescots - the letters and calls you have ignored probably pointed this out? The debt will still be active, it hasn't mysteriously disappeared. 

    I know it hasn't disappeared, I haven't doubted that. As far as Wescot are concerned, it was my understanding that they don't buy debts. They also state that on their website that they don't buy or own debts.
    Starting point - May 2020 Debt £25,231 ouch.
    Monthly update - June pending
    Baby Step #1  £0 / £1000
    If you fall down, fall on your back, because if you can look up, you can get up.
  • edited 6 June 2020 at 12:10PM
    sourcratessourcrates Forumite
    25.1K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    edited 6 June 2020 at 12:10PM
    Wescot no longer purchases or owns debts. If an account is being managed by Wescot this does not mean they have bought the debt, it means they are managing recovery of the debt on behalf of the bank/utility company. Once the debt is repaid the account will return to the original company.
    Ex Board Guide.
    “A man who pays his bills on time is soon forgotten. - Oscar Wilde"
    “If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” -JPMorgan Chase"
    "I don`t trust Bankers, I don`t trust Banks, and I don`t trust you. -Private Frazer"
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • NewbieJDNewbieJD Forumite
    34 Posts
    Fifth Anniversary 10 Posts Combo Breaker
    Hi,
    I suspect Wescot will continue to try to collect this from you, give it about 3 months or so, and they will return the account to PayPal as uncollected.
    It is a well known fact that PayPal never take legal action to recover debts, this is mainly due to the fact that they created the debt in the first place by putting your account into a negative balance, so they are asking you to pay something you never agreed to in the first place, basically such a situation would never see the light of day in a court room.
    If you want to continue paying the debt, make an arrangement with Wescot, if not, then after a while it will just fade away.

    Thank you for replying. I won't be dealing with Wescot as I have other debts that need clearing first, but I will monitor their letters.. I will put money aside for Paypal if they do come running after me at a later date, despite the fact they let the account go into a negative balance.
    Starting point - May 2020 Debt £25,231 ouch.
    Monthly update - June pending
    Baby Step #1  £0 / £1000
    If you fall down, fall on your back, because if you can look up, you can get up.
  • cymruchriscymruchris Forumite
    3K Posts
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    Wescot no longer purchases or owns debts. If an account is being managed by Wescot this does not mean they have bought the debt, it means they are managing recovery of the debt on behalf of the bank/utility company. Once the debt is repaid the account will return to the original company.
    That's good to know :smile:
    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
  • [Deleted User][Deleted User]
    0 Posts
    Ninth Anniversary 1,000 Posts Name Dropper
    MoneySaving Newbie
    Hi,
    I suspect Wescot will continue to try to collect this from you, give it about 3 months or so, and they will return the account to PayPal as uncollected.
    It is a well known fact that PayPal never take legal action to recover debts, this is mainly due to the fact that they created the debt in the first place by putting your account into a negative balance, so they are asking you to pay something you never agreed to, basically such a situation would never see the light of day in a court room.
    If you want to continue paying the debt, make an arrangement with Wescot, if not, then after a while it will just fade away.
    What great advice from a board guide. Paypal put an account into arrears because someone owes money. Never mind consumer responsibility, let's just tell people they can rip off Paypal and there will be no consequences. I have reported your post as it is wholly inappropriate. 
  • FatsdomFatsdom Forumite
    50 Posts
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    Hi,
    I suspect Wescot will continue to try to collect this from you, give it about 3 months or so, and they will return the account to PayPal as uncollected.
    It is a well known fact that PayPal never take legal action to recover debts, this is mainly due to the fact that they created the debt in the first place by putting your account into a negative balance, so they are asking you to pay something you never agreed to, basically such a situation would never see the light of day in a court room.
    If you want to continue paying the debt, make an arrangement with Wescot, if not, then after a while it will just fade away.
    What great advice from a board guide. Paypal put an account into arrears because someone owes money. Never mind consumer responsibility, let's just tell people they can rip off Paypal and there will be no consequences. I have reported your post as it is wholly inappropriate. 
    Sourcrats merely gave factual advice, he didn't say it was right to do so. 
    I stand with Sour on this. 
  • GalloglassGalloglass Forumite
    1.1K Posts
    1,000 Posts First Anniversary Name Dropper Photogenic
    ✭✭✭
    What great advice from a board guide. Paypal put an account into arrears because someone owes money. Never mind consumer responsibility, let's just tell people they can rip off Paypal and there will be no consequences. I have reported your post as it is wholly inappropriate. 
    Paypal is simply a payment processor usually for Ebay. There will be something on a related Ebay account such as a consumer dispute where Ebay have made a decision for one of the parties - hence the Paypal debt.

    Climbed the ladder to success in life? Take that ladder and lend it to someone less fortunate.

  • edited 8 June 2020 at 1:05PM
    sourcratessourcrates Forumite
    25.1K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    edited 8 June 2020 at 1:05PM
    Hi,
    I suspect Wescot will continue to try to collect this from you, give it about 3 months or so, and they will return the account to PayPal as uncollected.
    It is a well known fact that PayPal never take legal action to recover debts, this is mainly due to the fact that they created the debt in the first place by putting your account into a negative balance, so they are asking you to pay something you never agreed to, basically such a situation would never see the light of day in a court room.
    If you want to continue paying the debt, make an arrangement with Wescot, if not, then after a while it will just fade away.
    What great advice from a board guide. Paypal put an account into arrears because someone owes money. Never mind consumer responsibility, let's just tell people they can rip off Paypal and there will be no consequences. I have reported your post as it is wholly inappropriate. 

    Hi,
    Thank you for taking the time to post about this.
    I just stated the facts with no moral opinion either way, that is not my responcibility, nor my role.
    It is a fact, these kind of debts are unenforcable through the British court system, and this information is made available to anyone in a similar situation as the OP, complaints about PayPal are usually made on the E bay board, the board guides there are up to date with enforcability of such debts.

    We do occasionally get PayPal complaints on these boards too, so the same information is provided, a lot of PayPal chargebacks are due to fraud on the part of a buyer/seller, who reports an item as undelivered, or faulty, not sent when it was, or gives some other reason as to why they should be refunded, this almost always results in an account having a negative balance, and disputing such things with PayPal is a difficult procedure, and does not always ilicit a positive responce for the injured party.

    I ended my post with details on how to pay the debt, should the OP wish too.
    What the OP does with the information provided is entirley up to them, people post asking for help, and thats what we try to do, unfortunatly we cannot please all of the people, all of the time.
    The contents of my post were both acurate, and factual, and as we are a moneysaving website, we try to come down on the side of the consumer, when they are engaged in disputes with large multinational companies.

    I hope i have now clarified my position, thanks again.
    .
    Ex Board Guide.
    “A man who pays his bills on time is soon forgotten. - Oscar Wilde"
    “If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” -JPMorgan Chase"
    "I don`t trust Bankers, I don`t trust Banks, and I don`t trust you. -Private Frazer"
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
Sign In or Register to comment.
Latest MSE News and Guides