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What can happen to you with a negative paypal balance?

Discussion in 'PayPal' started by KithKing, Jun 30, 2014.

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  1. #1
    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, Jun 30, 2014 IP
  2. KithKing

    KithKing Peon

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    #2
    I've change my paypal email and sent the money to my bank and removed my card am i safe ?
     
    KithKing, Jun 30, 2014 IP
  3. DriveHosting

    DriveHosting Member

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    #3
    Transfer it to your bank account you should be fine.
     
    DriveHosting, Jun 30, 2014 IP
  4. lakwaun

    lakwaun Greenhorn

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    #4
    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.
     
    lakwaun, Jul 1, 2014 IP
  5. KithKing

    KithKing Peon

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    #5
    How will it go on my credit report they have no info on me
     
    KithKing, Jul 1, 2014 IP
  6. HostDash

    HostDash Well-Known Member Premium Member

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    #6
    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.
     
    HostDash, Jul 3, 2014 IP
  7. lakwaun

    lakwaun Greenhorn

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    #7
    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.
     
    lakwaun, Jul 15, 2014 IP