Where for art thou fundages, mien Paypal?

[onemeangixxer7502]

Dont you have to acrue interest before a 1099 can be filed?

No, ive never heard of them 1099'n anyone though

[YALE]

Dont you have to acrue interest before a 1099 can be filed?

Nope. They'll report the incoming cash as income.

[CJ]

can you elaborate on this? I would love to hear both storys.

Boy that's one hell of a long story honestly. I'll keep it short and simple. The first time I had quite a few big sales out there. One of the people received my item and was upset it had a scratch and refused to acknowledge the auction stating it had a scratch on it, and it was as-is. So, he disputed the payment, and ebay took my money (about $1,800) and gave it back to him. Then, he was told to ship the item to PayPal. PayPal took my item, and kept it. So, I paid a man $1,800 to take my McIntosh receiver and never got it back. They refused to give it back to me. This is a very common occurrence with PayPal - if you look on youtube, there is a million+ video of a guy bitching about how PayPal did exactly to him what they did to me. But, it gets better. I had another item out at the same time, for $4,500. The exact same thing happened - except he got to keep the item, and they took the money for themselves, and refused to release it. I called my attorney and told him to file a lawsuit. I called paypal up and gave them the case# and advised them I'm suing them. 4 days later I received a check from them. I was out my legal expenses - and $1,800 from the other item.

Several years later I was collecting money for the lower receiver group buy - last year. I had about $25,000 in my paypal account and I set to transfer it to my account and they placed a hold on the account, saying that my account was not 'authorized' to transfer those kinds of funds. For reference - I have had over $140,000 in my paypal account when I sold a custom peterbilt for a friend a few years ago and had no problem. I called them up, asked them wtf they were doing, they assured me it was their fault, and the account was ready. I transferred the funds out and then I got another hold - saying that it was under investigation. Then they proceeded to call random people which transferred me funds, grilling them on it. They didn't find any violations and informed me they would approve the transfer. Then, I saw I had another hold on my account. I called them back, and they said they decided they would keep the money for investigation costs. I advised them I was sick of their shit and would refund every single transaction. The woman on the phone shit bricks and attempted to tell me I couldn't do that. I advised her I was recording the conversation and I'd like her to plainly tell me I am not allowed to refund my customer's money. And I also advised her she should see a legal notice on my sellers account that I have sued them before. She then told me I could refund the money. I refunded 300+ transactions in about 20 minutes (to which they placed a 3 day hold on them). In that time period they called me CONSTANTLY threatening me with various tactics. Eventually I just forwarded them to my attorney. After 3 days the funds finally got back to everyone. Since that transaction PayPal sends me threatening e-mails requesting their fees for the transactions that I refunded.

Their incompetence, scam, and lies know no bounds. I have NEVER delt with a more vindictive and dishonest organization in my life. They are literally a racket operated by mafia. If you give them enough time (opportunity) they will fuck you, I guarantee it.

[inline 6]

I completely agree with every statement that you have said about them. I have had my run ins with them on numerous occasions where I felt like I was being treated unfairly with my money. For all those "I have had my account for xxxx years with no issue people" its not if its when will paypal try to fuck you?