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Paypal Account and Paypal Buyer Credit

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    #1

    Paypal Account and Paypal Buyer Credit

    Hello. I have a paypal account that I use for when I sell items online (which I have not been selling anything lately, hence my filing for bankruptcy. The money I received for items I sold online was the money I used to pay my cc's)...

    Anyway, I have a credit card called "Paypal Buyer Credit" which shows on the main page of my paypal account... The main page shows the balance in my paypal account, the paypal buyer credit outstanding, payment amount and due date of PPBC payment.

    If I stop paying my PPBC (they will be part of my BK7 -- I owe around $2,000). Do you think that they will take any money from my paypal account or just close the paypal account altogether??? Anyone on this forum familiar with paypal and PPBC? If so, could you shed some light on this for me?

    I just want to see if I need to do anything. I don't want all of my $$ to go to this credit card and then it looks like preferential payments...
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    #2
    I had some credit cards with 0 balance on them when I entered into bankrupcy. They were all cancelled too!! This should have been added onto your bankrupcy. I got a form and price list for things that had to be added on after the initial submit of the cards. My attorney charged an additional $100.00 for each that had to be added on after the hearing. Ask your attorney and see what he or she says about it, Hope this helps!!!
    Entered debt settlement in 2006
    Filed bankrupcy in 2008
    Stuck with $2,343 payment in 2009

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      #3
      Paypal Buyer credit is a credit line through GE Money Bank. I also have an account. They need to be included as a creditor and all their contact information is available via the Paypal website (there is a link to go into your Buyer Credit account). They will definately close out your account but I don't think they can touch any money that you may have in your regular Paypal account. They are two separate accounts; one a creditline and one a custodial account in which you can transfer money in and out.
      _________________________________________
      Filed 5 Year Chapter 13: April 2002
      Early Buy-Out: April 2006
      Discharge: August 2006
      "A credit card is a snake in your pocket"

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        #4
        Thanks... I just didn't want them to touch my regular paypal account if and when I file BK7....

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