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Can PayPal withhold money for PayPal credit debt
freshstart2023
Posts: 171 Forumite
I defaulted on my PayPal credit account and it has now been sold to Lowell. I was hoping to try and sell a few things on eBay to raise some funds. If I do this, could PayPal withhold funds due to the PayPal credit debt? Thanks
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According to their terms the answer is yes - the terms also say that they lock your account if you owe them money for more than 120 days, which I guess may be the case if it is so bad they have passed the debt to Lowell.0
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They could if you put funds in your PayPal account, but eBay does not use PayPal any more and has not done so for more than a year, they pay the money directly into your bank account.freshstart2023 said:I defaulted on my PayPal credit account and it has now been sold to Lowell. I was hoping to try and sell a few things on eBay to raise some funds. If I do this, could PayPal withhold funds due to the PayPal credit debt? Thanks2 -
Creditors have what`s known as the right of "set off".
If you owe them money, and you have funds in another account, owned or operated by that company, in your name, they can take those funds, subject to certain limits, to off set what you owe them.
This applies in most cases across the board.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-letter1 -
That wouldn't apply here though would it, the debt has been sold so there is nothing owing to PayPal any more.
As mentioned Ebay dont use PayPal any more anyway they handle the payments themselves and transfer the money to your bank account after the items have been delivered.1 -
Thanks folks, I had no idea EBay didn’t use PayPal anymore. That’s great to know. Thankyou so much0
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