£15k in Paypal chargebacks am i screwed?

[Paypalsbitch]

In a nutshell.. my PayPal Pro business account is now in arrears of £15k due to 3rd party fulfilment issues.
I'm now recieving letters from CreditSoutions DCA. im not sure if they've bought the debt from PayPal or have simply been engaged on their behalf for a fee to collect the amount outstanding.
Depressed isn't the word... i feel like the've got me by the gonads and are beginning to squeeze..

I have no money or assets whatsoever now... so they really would be wasting their time chasing me, but i guess just telling them this isnt going to make them go away.
If it comes to it and they threaten bankruptcy..then understandably it's going to be devastating..
I've not responded in any way yet,as i thought i'd see if any guys here have had anything similar?
I really would appreciate advice on how to proceed.

Thanks in advance

[Paypalsbitch]

Re: £15k in Paypal chargebacks am i screwed?

Had a second letter,this time from from some company called BCW group threatening to send someone to my house and asking me to contact their "instruction agent" CreditSolutions from whom i had the first letter. Are they both agents of PayPal? or has CreditSolutions bought the debt?
Would really appreciate advice on whether i should send a CCA letter to CreditSolutions as there was no paperwork signed by me it is simply a business PayPal account in arrears.
Really not sure what to do as im new to all this..

As iv'e not had reply im not even sure i posted my problem in the right area of the forums!...lol

[Kati]

Re: £15k in Paypal chargebacks am i screwed?

I'm sure you'll get advice soon
National Debtline has info on dealing with creditors - https://www.nationaldebtline.org/EW/.../Default.aspx#

Personally, I would contact to them saying that you will only communicate with them in writing. If they send a doorstep collector to your house, you are under no obligation to allow them into your house (in fact you can ask them to leave and if they refuse you are within your rights to phone the police and get them escorted off your property )

[Paypalsbitch]

Re: £15k in Paypal chargebacks am i screwed?

Hope so ...at least i now know im posting in the right place .. lol.. ..thanks Kati!

[Kati]

Re: £15k in Paypal chargebacks am i screwed?

Hope so ...at least i now know im posting in the right place .. lol.. ..thanks Kati!

No worries It just sometimes takes a while for the right people to see the post.

[Tools]

Re: £15k in Paypal chargebacks am i screwed?

When you mention 3rd party fulfilment issues, I assume you operate a drop shipping business.

What are the supply issues and if customers have paid for goods, where is the money that they paid, has PayPal refunded them ?

[Paypalsbitch]

Re: £15k in Paypal chargebacks am i screwed?

The money was paid by me for fulfilment of a service (not goods) which was not satisfactory to the client resulting in chargebacks (weeks and sometimes months down the line) paid by PayPal and then debited from my account sending it into arrears.

[Tools]

Re: £15k in Paypal chargebacks am i screwed?

OK thanks, what were the services and what were the reasons for the clients dissatisfaction with those services.

Just trying to get a fuller picture as it may have a bearing on the steps to take.

[edit] also how many actual transactions made up the £15k total

[Paypalsbitch]

Re: £15k in Paypal chargebacks am i screwed?

dont really want to discuss the exact business on an open forum, but will say that the chargebacked transactions were approximately twenty in total. The fulfilment company is overseas and not surprisingly arent responding anymore.