PayPal negative balance Akiniki DCA

[craig121]

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?

Sorry looking back the post I have this wrong! The times that popped up with you have insufficient funds have been messaged at the gaming site whom requests to PayPal! Being honest I have no idea how it all works and why you can borrow 600% more than you had avail, am truly sick about this and its true about why I had no control that night mother has been given 3ths yo live, its not an excuse but really not understanding how PayPal can credit you so much money especially my credit score still within a trust deed( although payments are completed) appreciating your input))

PS I requested a copy of the loan agreement act 1974 and they provided me with 2yrs of PayPal statements ?

[Debt Camel]

Re: PayPal negative balance Akiniki DCA

Bother. If Paypal had checked before that you had enough money you could argue that something had gone wrong with their systems.

Your complaint to the Financial Ombudsman - it will be interesting to see if the FO thinks it has jurisdiction here, as PayPal are not UK authorised, but are a Luxemburg company, see https://register.fca.org.uk/ShPo_Fir...000000Mg3m1AAB

Also you may have a problem with your responsible lending complaint even if the FO does agree to look at it because if you win the complaint the usual award is to remove any interest from the outstanding balance but say you have to repay what you borrowed.

I requested a copy of the loan agreement act 1974 and they provided me with 2yrs of PayPal statements

You need to put in a formal request for the CCA agreement and pay £1 for it, see https://www.nationaldebtline.org/EW/...e-name%29.aspx. If they can't produce that, or try telling you one doesn't exist because they are UK authorised... well that will be very interesting.

[craig121]

Re: PayPal negative balance Akiniki DCA

Am pretty sure there must of been a fault in the system, there's no way PayPal could possibly allow anyone /everyone credit advancements's of 6k plus without formal agreements , I did request a copy of the CCA and posted a 1 and postal order and they sent me back 2 years PayPal statements! Looks like they are scratching , If there was no risk to my credit score I would happily see them in court?

[craig121]

Re: PayPal negative balance Akiniki DCA

Hi again,

I notified akinika that a complaint was being made to the financial ombudsmen regarding irresponsible lending practices but have been disappointed in hearing all the FO powers can just freeze interest, since am not being charged interest very disheartening " Akinika claim I owe PayPal 6600pnds(I sent letter rejecting & asked proof) I have zero assets and on very low pay scale" but a friend offered me 4k loan payable back 40pnds per month# would it be prudent to offer a 1 off final payment to Akinika 4000pnds to put this to bed' I am still in the grips of a trust deed although completed am not released as the creditors are still fishing# would it be likely Akinika might take an early less settlement in order to guarantee some funds# If it wasn't for worry of my credit score I would be happy to see them in court as I never had avail funds in my account when PayPal kept giving me credit# I can also prove in court my state of mind due to mothers terminal cancer(now deciest) and caring for an elder with dementia# so guys your opinions if you please make the offer! Or see them in court! P.S I should state I don't really have a good credit score just do not want another blotch

[Kati]

Re: PayPal negative balance Akiniki DCA

tagging [MENTION=48934]Debt Camel[/MENTION] xx

[Debt Camel]

Re: PayPal negative balance Akiniki DCA

Have the FO agreed to look at your complaint?

Have you requested a CCA agreement?

How do you have funds to offer a partial settlement?

have been disappointed in hearing all the FO powers can just freeze interest, since am not being charged interest very disheartening

they take the view that you should repay what you borrowed but if the lending was irresponsbile the lender should not profit from it. If any interest has been added so far, and you win your complaint it will be deducted.

Or see them in court!

What defence are you thinking of offering? your state of mind is not relevant unless you can show the lender was already aware of it before they lent to you.

[craig121]

Re: PayPal negative balance Akiniki DCA

Hi Debt Camel many thanks quick response

The FO are still looking into case,I was late responding due to Mothers health.

Yes I requested a copy of CCA agreement they sent back 2yrs of PayPal statements so I have no idea if that constitutes to an agreement but doubt it#

The funds 4k have been offered by a good friend whom can see the stress am in and he wants 50pnds per Month back related

Am hoping the FO can see my situation I was still in a trust deed and my finances were balanced as not to have a case to credit, but PayPal's system allowed me to withdraw 7600pnds when only 1000pnds was ever avail" but on my part yes irresponsible

My defence would be !# this is where I most need help# but firstly I never signed a loan agreement but owe them 6600pnds whilst still on terms of a trust deed # I would never of thought PayPal would issue funds amounting to 600% more than available,I simply cannot aford more than 50pnds per Month its highly unlikely that would meet Akinika terms

[craig121]

# Debt Camel any further input please or another am unsure of what's best line to take

[Pk1]

Hi Craig do you have an update on this... I’m in the same situation. No collections letter yet though. Please help