How long does it take for paypal to send negative balance to collection agency?

Question

I have a large negative balance (close to $3,000) on my paypal account and its been like that for almost a month. I don't have the money to pay for it now but i understand they will eventually send it to a collection agency. How long does that take? How long will they give you to pay it off? They won't hunt you down and come to your house will they? (I'm being silly but how far will the agency go to get their money?)

Answer 1

Actually I have been in this situation before and they only hound you by mail. The collection agency is NCO Financial. I owed 900.00 to them and never responded to their letters. They finally left me alone about it. Just make sure you close your credit card accounts and bank accounts that you enrolled with when you opened your account. They will keep sending the payment to your bank account and you will be charged overdraft fees if you don't. They won't take you to court. I know of friend who has owed more than that and they eventually quit sending the letters. It is advizeable to changed your phone number if they have it. They can't ruin your credit because they don't have your Social Security Number unless you gave it to them. (Which I don't think anyone would)  Anyway this is just advice and it is for use at your own free will. Take care