PayPal negative balance and Moorcroft

sourcrates

hameed92 said:

sourcrates said:

marcia_ said:

 I wouldn't believe everything you read. Any company, even overseas companies, can lodge a Court claim against you. 20k is no small amount and worth them spending money chasing 

PayPal appear to be unique in this respect, of all bad debts chased by debt collection agencies, on behalf of PayPal, who incidentally are -

• Wescot Credit Services
• Akinika
• Moorcroft

to my knowledge, not one has ever gone to court.

What they may do instead, especially for 20k, is sell the debt to the likes of Lowell or Cabot, Arrow Global or similar, who will then chase you for it, and legal action is a real prospect if you ignore these companies for any length of time.

Paypal will sell it to these companies or moorcraft will? I have already been contacted by moorcraft( to my knowledge they only collect the debt rather than buy off paypal) however if I understand you correctly they may sell the debt onto the alternative companies? 

Its "Moorcroft", and yes, you are correct, they are just acting as a collection agency, they do not own your debt, PayPal do.

PayPal retain the option to sell the debt to a 3rd party, however, whether they will or not I don`t know.

JohnSmith321

hey @hameed92, is there any news on this ? have you tried contacting paypal ?