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PayPal Credit Check? CRAP! Could be a very bad weekend for me... ADVICE?!

by Michael Chris
10 replies
I have since November become a high volume seller on eBay... between $10,000 - $20,000 per month gross.

PayPal limited my account a few weeks back... freaked me out and caused me stress for a little while, but after I provided my supplier contact info and invoices showing inventory... the limitation was lifted. (Tip: call them if this happens... it is much quicker)

Now PayPal has put up notice in my account that they want me to verify my credit check address... so they can run a credit check. (They show that I already provided my Social Security number... don't remember when though.)

If they do run a credit check I am very afraid of the outcome...

I currently have some adverse items on there *mostly* due to accounts opened in my name without my knowledge. Normally, these would be items that one would file disputes and/or police reports on. However, these were caused by a person I know and I don't have any desire to see them charged with anything as we have resolved it between ourselves.

"Funny"... I am within about 30 days - 60 days or so of having these things paid and starting to fade into the background, so this is really bad timing.

The kicker is the increased eBay business is, in part, helping me resolve these pending credit issues... so it is ironic that I could shut down for doing something that will improve my credit... because of my credit!

I believe PayPal uses Equifax and I have thought about placing a fraud report / credit freeze, but, again, this may require a police report AND it may not look so good if/when PayPal runs the report.

I am going to today before the end of the month take care of 2 adverse accounts, so hopefully next month they will look better on the report, but that really doesn't help me short term.

I LITERALLY HAVE ABOUT $18,000 IN AUCTIONS ENDING THIS WEEKEND!

So far, it says I can still withdraw money, but if that money for those auctions comes in and then they suddenly freeze funds... that will cause much undue stress... I might not be able to pay my suppliers for future orders and my supply will stop.

I began researching last night trying to get switched over to ProPay (not a powerseller yet, so its a no go) or a different Internet Merchant account that will work with eBay.

ANY HELPFUL ADVICE ON ANY OF THIS?

Thanks very much.

-Michael
#advice #bad #check #crap #credit #paypal #weekend
  • Profile picture of the author Johnathan
    I would suggest finding an alternative merchant other than PayPal... alternatively, if you are doing that kind of volume, you may even consider setting up your own merchant account.
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    • Profile picture of the author 4morereferrals
      .. and ebay wonders why their stock price is plummeting and their leading vendors/sellers are looking to dump them at the very first opportunity.

      Here mr./mrs. business person ... come sell your goods with us! Look at how good we are for you ...

      1. You list your items

      2. We bring people to your listings to buy - we're ebay!

      3. We charge you out the arse to list and when they BUY!

      4. We get in your shorts again when they PAY You

      5. If we so desire, and usually at the most inopportune time ... we will freeze YOUR money - well because we say we can and we're of course EBAY/PayPal - eat it!

      6. So if we do frezze YOUR $$$ for 30-45 days, you must still be able to:
      - Pay your ebay fees
      - Suck up the Paypal Fees
      - Pay the shipping cost of the products you sold out of your prior profits or line of credit
      - Send out the goods and pay for them somehow some way we really dont care.
      - Make No Interest on the funds we hold at our arbitrary discretion
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  • Profile picture of the author Emailrevealer
    Set up a real merchant account with authorize.net and whatch 90% of your merchant payment processing problems dissappear.

    Paypal is not a real merchant account.
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  • Profile picture of the author globalpro
    Michael,

    Since you are already on the hook to provide info, I would suggest calling them and asking. It may not be as bad as it seems and maybe in explaining things, there are alternatives to satisfying what they want.

    Nothing to lose and everything to gain.

    Thanks,

    John
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  • Profile picture of the author Tsnyder
    First, most other merchant account providers will also
    pull a credit report as part of the application process so,
    while it's a good idea to have another processor, that
    probably won't cure the immediate problem.

    Call Pay Pal and explain what you've explained to us.
    You should be able to provide them some sort of written
    verification that regular payments have been made on these
    items so that will be a mitigating factor.

    I really think you don't have too much to worry about but
    it's always best to be proactive... give them a call.

    Tsnyder
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  • Profile picture of the author Emailrevealer
    I agree about calling up Paypal. If the call doesn't go well the first time you call just hang up and call back. You'll probably get a different answer.
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  • Profile picture of the author T2
    Your livelihood is at stake here. You need to attack it head on and that means an immediate phone call.

    As stated above it probably isn't as bad as it seems but you do need to react.

    If you are using ebay as an income stream you can't help but rely on paypal, once you get this issue cleared up you need to expand your business in some manner to avoid being completely out of business if something were to go wrong.

    Good Luck,

    Paul
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  • Profile picture of the author BFMedia
    An idea I had off the top of my head...and this may not even be feasible, and should be a worst case scenario - do you have any immediate friends or family that could set up an account to process your transactions? Even if it was just for this upcoming possible doomsday weekend?

    Surely if you're doing that much business, they'll know you're good for it.

    But again, I don't even know if it's a doable option...just brainstorming for ya.

    Good luck man.
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  • Profile picture of the author LB
    Folks...most all buyers on ebay want to use Paypal as they are integrated and familiar. I know as a buyer I typically will look for an auction with a Paypal option over one that requires another service.

    Your best bet is to resolve it with them rather than try to switch to some other processor...and trust me, merchant accounts will definitely run a credit check in addition to requiring references and other business info.
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  • Profile picture of the author MoneyMaker65
    Banned
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