A few days ago, I received a notice from Paypal saying I got a chargeback regarding the sale for "unauthorized transaction." The e-mail says I got 7 days to tell my side of the story before Paypal decides whose favor it should go to. I was tired, so I figured, I should go to bed and handle this the next day.
When I woke up, I e-mailed the buyer about it thinking it was all a mistake. He didn't respond (he usually replies to my e-mails in less than 3 hours during the time we were working on the site's transactions). I try to be fair and give him 48 hours to respond before calling Paypal. Less than 24 hours later, I got another e-mail from Paypal stating the dispute has been in the buyer's favor.
I called Paypal and the speaker told me the case is closed and there is absolutely nothing further that can be done.
Paypal closed the issue in less than 48 hours even though their e-mail says I have 7 days. I didn't even get a chance to tell my side of the story. Now I am left with a $X,XXX debt and the buyer got away with my website free of charge.
Needless to say, I am pissed as hell!! So mad that I am even considering not paying the bill!
I live in USA and I have a bank account attached to my Paypal without a social security number or debit/credit card. What penalties am I looking at if I just forget about my Paypal balance?
Anyway, I hope anyone reading this learns from my mistake. USE ESCROW IF YOU ARE SELLING WEBSITES, NO MATTER WHAT!