PayPal negative balance Akiniki DCA

[craig121]

Been with PayPal over 10yrs linked via EBay standard account which is backed up with a classic account no overdraft, thing's were well until I stupidly linked to an online betting account, running fine low but frequent stakes for best part 1 yr*

Things went badly one night on recieving bad news I had 1000 pounds in my Standard account and spent a lot during a very short while! I kept asking PayPal to credit my account£££ in momments of madness this amounted to PayPal giving me credit to the tune of 7600 pounds payed directly to online betting account*of which only 1000 pounds was ever available within my Bank account! I understand my stupidity but at the time was desperation and a misunderstanding of how I kept getting credit and a compulsive need to win back losses# PayPal email me 3 times over 40 days but I replied requesting letters only* all went quiet until I got emails and letters from Akiniki dca requesting 6600 pounds of which I cannot afford , can anyone say that PayPal can possibly credit you 600% more than available to your account they are not a bank but use clever wording like a direct debit facility!

Lastly am I in for a rough ride with Akiniki there been trading since 1926 so not going away in a hurry

[Amethyst]

Re: PayPal negative balance Akiniki DCA

Oops. I still can't get to grips with how Paypal lets me spend money I don't have and never any idea when it's going to be taken from my bank account... there must be a way of figuring it out but there doesn't seem to be any 'pending' list on Paypal, which I think is quite deficient - it's always a bit of a suprise when something comes out my bank for Paypal... to that end I prefer to use debit card than linked account now.

Anyway doesn't help you, but really I understand what you mean about Paypal allowing it to happen.

Sooooooo I guess we need to have a good search through the paypal agreements/terms etc to see in what circumstances they tell you this could happen and see what other cases there are around where this has been argued against.

Have you given up with the Gambling now?

[craig121]

Re: PayPal negative balance Akiniki DCA

Oops. I still can't get to grips with how Paypal lets me spend money I don't have and never any idea when it's going to be taken from my bank account... there must be a way of figuring it out but there doesn't seem to be any 'pending' list on Paypal, which I think is quite deficient - it's always a bit of a suprise when something comes out my bank for Paypal... to that end I prefer to use debit card than linked account now.

Anyway doesn't help you, but really I understand what you mean about Paypal allowing it to happen.

Sooooooo I guess we need to have a good search through the paypal agreements/terms etc to see in what circumstances they tell you this could happen and see what other cases there are around where this has been argued against.

Have you given up with the Gambling now?

Hello Amethyst and thank you for replying, Yes I have shocked myself into stopping gambling closed account next day and self barred for 5 years , am really not good at reading legal Jargon but if anyone can help find info or advice I would be grateful

[Amethyst]

Re: PayPal negative balance Akiniki DCA

Good to hear

User Agreement https://www.paypal.com/uk/webapps/mp...locale.x=en_GB ( rather lengthy document that - the crux seems to be that you are spending 'e'money from Paypal and giving Paypal permission to collect that back from your bank account - rather than using paypal as a vehicle to make payments from your bank account - however there doesn;t appear to be any 'credit' terms simply you agree to reimburse paypal if your DD doesn't go through ) (ie. there's no guarantee that you won't be able to use e-money if there is none available in your bank - unless, far as I can make out, if you are paying with Debit Card VIA paypal )

so on what you said

I kept asking PayPal to credit my account£££ in momments of madness this amounted to PayPal giving me credit to the tune of 7600 pounds payed directly to online betting account*of which only 1000 pounds was ever available within my Bank account!

I think you were on the betting site doing ' Deposit funds' using Paypal as the payment vehicle ? So paypal allowed the payment to the betting site to go through on the grounds of your agreement to reimburse Paypal by Direct Debit to your bank account.

Upshot of which is it is likely you will need to come to an arrangement with Aninika. But I would request proof of the debt first - copy of your agreement with paypal, details of the transactions, assignment ( or are they acting FOR paypal?) and so on.

On the other side of things - did you get multiple bounced DD transactions on your bank account ? charges ?

3.3 Bank accounts. By linking your bank account as a Funding Source, you are providing PayPal with a continuous authority (subject to the terms of the mandate used by your bank to set up and maintain that authority) to automatically charge your bank account for the amount necessary to purchase E-money in your Balance:

required to cover a Payment Order to another User (plus transaction fees payable to us) when the bank account is the applicable Funding Source for that Payment Order pursuant to this Agreement: or
when using the Add Funds functionality in your Account interface.

You give PayPal the right to resubmit any debit you authorised that is returned for insufficient or uncollected funds. If you cancel any direct debit (including, without limitation, any SEPA Direct Debit), you agree to reimburse us for the value of any goods or services that you have consumed with the proceeds of that direct debit.

You agree that when PayPal receives a payment from your bank account to obtain E-money in your Account, PayPal may hold the funds in your Reserve Account for so long as PayPal determines that an NSF Risk exists. In such an event, the E-money will not be made available to you in your Payment Account (including for the execution of any Payment Order that the bank payment was made to cover) until PayPal determines that the NSF Risk has passed. Until that time the bank payment will appear to you as “Uncleared” in your Account details. PayPal is not in possession of all the information necessary to place the funds from your bank payment at your disposal until it determines that the NSF Risk has passed.

PayPal reserves the right to require you to fund your requested payment by the use of Bank Account - eCheque to mitigate risk (including, without limitation, the NSF Risk) associated with your Payment Order.

[craig121]

Re: PayPal negative balance Akiniki DCA

Thank you once again Amethyst
You were spot on with how the accounts were linked and operated ,I found a template requesting the agreement do they have to supply this and what if they do not return a true copy

I live Scotland am also scared of the threat of Dilligance, I would comply with Akiniki if everything above board and there patient for returns! I will post letter tomorrow at what point should I contact stepchange

Paypal managed to get the 1000 pounds that was available in my account since I have no overdraft all other requests were bounced no charge's, I was wondering might I have a case with Financial Ombudsman regarding irresponsible lending as I also only just finished a trust deed Feb 2017 and was trying to keep my credits to absolute minimum

[Amethyst]

Re: PayPal negative balance Akiniki DCA

Okay that's something, you don't have extra problems with your bank charging you for the bounced DD's so just the amount to Paypal owing.

It wouldn't be a standard CCA request - being as their isn't credit. Maybe you could type the letter fro Aninika out, or post a picture of it ( cover up your personal details ) and we can have a bash at a response asking for the relevant bits.

Stepchange can help you go through your budget and work out what a reasonable offer would be - do you have other debts to be sorting out too ? or you just thinking of contacting them to get a formal income/expentirue sheet to back up any offer to Aninika to avoid any court procedings going forward?

I don't know your personal financial position - and it's non of my beeswax, but to know if you have risk - do you own your own property or rent ? other assets ? employed ?

[craig121]

Re: PayPal negative balance Akiniki DCA

Really have zero assets I lost good job downturn 2013 went into a 3 yr trust deed finalised Feb 2017 I carried on working half the wages am renting a room no car or funds just living day to day no supporting kids , yes stepchange was mentioned on back of Akiniki letter and I would rather deal with then than any DCA,unsure how to make attachments but will try type or find* please excuse though am using a different phone hating the keyboard

[Amethyst]

Re: PayPal negative balance Akiniki DCA

Did you incur this paypal debt after Feb 2017 ?

[craig121]

Re: PayPal negative balance Akiniki DCA

Yes the paypal debt was 2nd Sept 2017

CGregarding the trust deed we reached letter 5 but 6&7 are still ongoing

[IMG]<a href="https://ibb.co/fF7rtG"><img src="https://preview.ibb.co/npdxYG/IMG_20171110_122916794.jpg" alt="IMG_20171110_122916794" border="0"></a>[/IMG]

Troubles with image hosting so here goes# not a lot really on letter from Akiniki

Reference debt balance of 6,576,02 Owed to PayPal premier
Ref nmbr
Client ref nmbr

PayPal premier has passed your debt to Akiniki debt recovery limited with instructions to recover your outstanding balance

What I need to do
Contact us at earliest convenience to discuss repayment of your account, we have range of ways you can pay outlined in reverse* once balance played subject no other restrictions or suspensions any limitations will be lifted

What happens if do not pay?
Your PayPal account will remain suspended until debt resolved

What if am unable to pay full amount?
We offer flexible approach to repaying your account and have different options that suit wide range of individual circumstances you may have been unable to find suitable repayment previously however we can help

Independant help advice ?
If you are experiencing financial difficulties there are organisation available that can offer free impartial help see reverse

That's it all in a nutshell really

[craig121]

Re: PayPal negative balance Akiniki DCA

Please help further I did send letter heading requesting proof of debt 1974 act but just before this they sent me another letter again requesting payment or it will be returned to original debtor or other! Since then I have received a large envelope with every PayPal transaction dating back to Nov 2015! Nothing else other than a headed letter requesting proposals for settlent of outstanding balance* please advice sought I am still not entirely free from a trust deed started 2013 awaits form 6 since FeB 2017 I have zero assets the only things that scares me is CCJ and my credit status AND I do not wish my employment envolved

[craig121]

Re: PayPal negative balance Akiniki DCA

Hi guys, quick update after the 2nd letter from Akinika been very silent , so I bit the bullet and tel them only to confirm name but no Addy as I have none private rent and that does change frequent, we kept it brief and I stated there is currently a complaint sent to the FOS against PayPal and irrisponsable lending! I have to take some blame with what occurred but my finance's were devised in such a way credit was not avail for me# is no overdraft and a credit card with only £250 limit* never could I imagine PayPal would just keep allowing credit especially to a gambling website when funds were never available* would please like any input negative or positive and will post back the feedback from FOS when it arrives

[Kati]

Re: PayPal negative balance Akiniki DCA

[MENTION=6]Amethyst[/MENTION] [MENTION=48934]Debt Camel[/MENTION]?

[Debt Camel]

Re: PayPal negative balance Akiniki DCA

Can we have some details...

How much did you borrow? How much have you repaid (sounds like £1000 ?)?

What is the precise name of the creditor, this will be some Paypal entity, I think Akinka is just collecting on their behalf.

[craig121]

Re: PayPal negative balance Akiniki DCA

Can we have some details...

How much did you borrow? How much have you repaid (sounds like £1000 ?)?

What is the precise name of the creditor
, this will be some Paypal entity, I think Akinka is just collecting on their behalf.

Hi Debt Camel, Akinika are collecting on behalf of PayPal premier, I never really borrowed just my bank debit card(no overdraft) was linked with PayPal for over 10 yrd, I started to make frequent wagers to a gaming site which accepted PayPal ,then was deducted from my bank 3 days latter always funds available, on many occasions previous I received notifications from PayPal there is insufficient funds in your account when I have over calculated my balance! However on the occasion mentioned PayPal allowed me to withdraw multiple amounts ranging 300-1000pnds total amount in 1 hour 7600pnds when I only had 1000pns in credit balance my No overdraft account * am not looking to be blameless I know there are issues hence why I setup my finance's in order to keep control is no OD and small credit card! Do you think there might be a glitch in PayPal's system that allowed 6600 ponds of non avail credit to pass in 1 hour* many thanks for replying am in a pickle (

[Debt Camel]

Re: PayPal negative balance Akiniki DCA

You did borrow from Paypal - they loaned you the money expecting you would repay it by DD in a few days later.

So they haven't added any interest on top of the amount you have borrowed?

The previous occasions "on many occasions previous I received notifications from PayPal there is insufficient funds in your account" - was this before they allowed you to withdraw the money? Were these notifications by email? Do you still have these emails?