Ok so i currently have about $1,300 CAD in my paypal $1,100 is from a few virtual goods sales. My account is currently not negative but i'm wondering if i can take the money out and the buyer disputes the payments and wins i will have a negative balance of $1,100 That's if the buyer disputes the payments. With a negative balance what will happen I'm from canada and i just turned 17. I've read that i can't get into serious trouble with debt collectors cause i'm not 18 or have a crdit card. All my information except for a credit card and SSN is not on my paypal and i think my old phone number is on there. So what happens if i leave the negative balance ? can i take the money and not worry about it ? I have only lost 2 disputes out of 5+ disputes if that makes a difference. Also could the owner of the credit card used for the payment do anything that will get me in legal trouble?
KithKing there is really nothing done in the United States but a debt collection process. Depending on the laws in your country on debt thats about as far as it goes. But trust me you just dont want it on your credit report damaging your credit.
Probably not worth the headache. They will probably chase you with a debt collection process. Did you ever use or need to use the verification process? If so, they will have your data from that. Just because you've deleted your card doesn't mean they don't have the relevant details they need on their end also. Why not withdraw it to your bank and if a dispute arrives and you loose, add the funds to cover the losses.
Yup exactly what he said. And usually if i am not mistaken every one has to go threw the verification process to lift certain paypal limits with one being in order to be able to send money to your bank account.