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Can PayPal Credit take money from personal PayPal account?

DocBean
DocBean Posts: 16 Forumite
First Anniversary First Post
in Debt-free wannabe
I'm in the process of setting up an IVA agreement, of which PayPal Credit is one of the creditors. I have a personal PayPal account, in which money is paid in.

Now I'm wondering if PayPal Credit could take any funds in the personal PayPal account before I can transfer it to my bank for the outstanding debt. I've read their Terms & Conditions, and don't see anything which mention taking funds from PayPal accounts.

Comments

  • sourcrates
    sourcrates Posts: 29,704 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    Its called the "right of offset".

    Banks can do this, under certain circumstances, PayPal are not a UK company, I think there agreements are governed by Luxemburg law, it is theoretically something they could do, but it won`t be there number one go to option.


    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Rob5342
    Rob5342 Posts: 1,757 Forumite
    First Anniversary First Post Name Dropper
    When I statrted a DMP Paypal suspended my personal account, and the payments from Stepchange went into my personal account and were then transferred to my paypal credit account the next day.
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