In debt with Paypal

devon_guy

So for reasons too personal and long to explain, I went into a gambling spiral and have a negative paypal balance of approx 2k.  I've now blocked access to gambling sites but I just can't afford to pay the debt back and don't know how best to approach paypal over this.  I also have paypal credit with a 12 month 0% payment plan which is fully up to date and has £400 remaining over 11 installments and I can maintain these payments with no problem.
Any helpful advice would be much appreciated please.

ManyWays

so you can pay the £400 over 11 instalments but cant manage the minimum payments on the rest, which is about 1600? or in addition to the 12 month 0% plan (for how much?) and 400 over 11 instalments you have another debt of 2000? 

do you have other debts with other lenders?

devon_guy

There won't be minimum payments on the negative balance as it's not "credit".  The balance will need to be bought up to 0

sourcrates

devon_guy said:

There won't be minimum payments on the negative balance as it's not "credit".  The balance will need to be bought up to 0

Officially maybe, but unofficially payment arrangements are usually acceptable in these circumstances if the full balance outstanding is not affordable in a lump sum.

Contact them and propose something you can afford, otherwise it will go to a debt collector who will offer you exactly the same arrangement, so its up to you.